Thomas B. Hudson - What's a dealer to do in order to avoid an up-close-and-personal meeting with his state's AG? We recommend that dealers prominently price all their cars (as some state laws require). The price is the price, no matter who is buying or how they are paying.
When a customer submits an Internet lead to a dealership, the first call – if well executed – can result in a sale if followed by solid follow-up processes and a qualified, focused sales consultation.
David Keller - As more dealers rely on used vehicle sales since new sales are significantly down from years past, it’s important to keep your eye on used sales as new sales incrementally increase.
@utoRevenue General Manager Brice Englert discusses how service customer retention can be improved through having a marketing plan, using a variety of channels and tailoring marketing messages.
Deceiving and defrauding customers is one easy way to get the attention of your state attorney general. Tom Hudson details how and why one dealership paid big for engaging in illegal practices.
Managing two aspects of a business at once may seem like it saves you time, but Author David Keller points out that’s not the case in BHPH. Without 100-percent focus on the task of collections, repossessions and delinquency rates will increase dramatically and profitability will decrease quickly.
Customers who visit your showroom but don’t buy leave for a number of reasons. Author Greg Wells discusses methods that can help a BDC or dealership get unsold floor traffic back in through effective outbound calls.
Internet and e-Marketing Director Joe Chura breaks down what a dealership would need to shoot professional-grade video at a fraction of the cost it would take to hire a third party to produce videos.
Before charging an expedited payment fee (or any other servicing fee), consult and consider your state’s laws on the topic. Attorney Nicole Munro explores servicing fees in depth.
J.D. Rucker - Although it’s been contested, buy here pay here dealers can reap rewards of a search engine optimization strategy. A BHPH SEO strategy should be credit-focused and aim to push any negative reviews, complaints and third-party lead-generators that could be taking your business down in the organic search engine results.
Allen Dobbins - Many dealers have issues with software and its compliance. The unique thing about software and compliance is that they touch virtually every aspect of a business. There are some important steps you can take to safeguard your business when it comes to compliance issues.
Thomas B. Hudson - When the buyer listed on a retail installment sales contract is someone other than an individual (i.e., a corporation, partnership, association, etc) or when the primary use of the vehicle is for business use, many claims and defenses the buyer might otherwise have against the dealer evaporate.
Jennifer Murphy - Rosen Automotive Group, based in Gurnee, Ill., goes to great lengths to maintain compliance within the nine-operation dealership group. After trying to maintain 100-percent compliance in-house, Dealer Saul Rosen realized the huge task it was and commissioned an outside consultant dedicated to keeping his stores compliant.
David Keller - Following are some basic policies and procedures you should have for your accounting department to be compliant with good internal accounting controls—including properly segregating duties, adjusting of journal entries, reviewing of cash disbursements, archiving cash receipts and authorizing of purchases.
Auto Dealer Monthly offers a brief look at one of the many compliance issues auto dealers must contend with, the Gramm-Leach-Bliley Act. Please note, this is not legal advice and dealers should always seek the assistance of qualified legal counsel.
