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High-Mileage Inventory Is a High-Profit Opportunity

High-Mileage Inventory Is a High-Profit Opportunity

What has experience told franchise dealers about trade-ins that show up with 60,000, 70,000, 80,000 or more miles? Historically, the higher the odometer has ticked, the easier the decision was to wholesale a vehicle. But things change — especially in the automotive industry. A recent IHS Automotive report found that new-car buyers are holding on … Read More »

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Compliance: How to Keep It Simple

Compliance: How to Keep It Simple

I get lots of phone calls from dealers and agents bemoaning the challenges of compliance. One recent phone call echoed a common theme: “I’ve been in business for 20-plus years, and I couldn’t understand half the things that regulator was saying about compliance! And, if I was struggling, imagine how my team feels. Why is … Read More »

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Planning Your Agency’s Future in Today’s Market

Planning Your Agency’s Future in Today’s Market

The needs of dealers are expanding beyond what the typical smaller to mid-size agency can provide when it comes to technology, training and human capital. Agents who generate 500 to 2,000 benefit contracts a month are typically reliant on just a couple of dealer groups for most of their business. They are one lost deal … Read More »

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How to Prove Every Customer’s Identity

How to Prove Every Customer’s Identity

Occasionally, even the seemingly simplest tasks become fraught with minutiae that encourage some to make it more difficult or cumbersome than necessary. The latest example of this idiom surfaced in a dealer’s quest to sell and finance a vehicle to an individual who could not provide a government-issued photo identity to prove she was who … Read More »

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Can I Get Your Number?

Can I Get Your Number?

Back in the old days, before the advent of modern communication such as Facetime, WhatsApp, Skype and many other platforms, the only real social media platform was the telephone. Asking someone for their phone number was a right of passage which either ended up in joy or disaster when you received (or did not receive) … Read More »

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Agents’ Liability for Dealer Actions

Agents’ Liability for Dealer Actions

You’re an F&I trainer representing one or more product lines. You educate dealer F&I personnel about the products you represent (and that they will sell) and offer guidance on selling techniques that have proven successful with your products. What is your potential liability for this activity? And how can you minimize it? To find out, … Read More »

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