Archive | Product & Technology

Is Technology Your Tool or Your Replacement?

Is Technology Your Tool or Your Replacement?

Any agent who has been in the business more than 10 years can remember the old routine: Wait till the close of the month before scheduling any visits. Show up and pull out the F&I log book, add up each column of numbers, do your long division to calculate PVR, product averages and penetration. Once … Read More »

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Product Offering – The Key to Achieving a Robust PVR

Product Offering – The Key to Achieving a Robust PVR

While there are many factors that can impact per vehicle retail (PVR); top agents agree that having a well-rounded array of products and presenting them appropriately is the foundation to achieving a desirable PVR. In the last issue of Agent Entrepreneur, we asked successful agents about their methods for achieving a healthy PVR. They discussed … Read More »

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Bi-Weekly Payment Services

Bi-Weekly Payment Services

With the ever-growing threat of a decrease, if not the total elimination of reserve, dealers are going to have to find ways to replace that revenue. The easiest method is to increase the number of F&I products that they sell per deal. A way to accomplish this is by offering a biweekly payment service to … Read More »

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NADA Puts Biweekly Payment Providers in the Spotlight

NADA Puts Biweekly Payment Providers in the Spotlight

In May, NADA issued a memo stating that it had come to their attention that the FTC had recently issued civil investigative demands to dealers in connections with bi-weekly payment programs in the F&I office. They advised dealers to “exercise caution when offering such products to their F&I customers,” and gave an example of a … Read More »

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Training for Growth

Training for Growth

On Monday, March 10, day one of the fourth annual Agent Summit concluded with “Training for Growth,” a panel discussion led by Lyle King. King is a founding partner with Forth Worth, Texas-based Auto Group Services. He started the discussion by assuring the crowd that the panel would not discuss “basic training,” choosing instead to … Read More »

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Challenges and Opportunities

Challenges and Opportunities

Business is booming, agents are growing their businesses and dealers have never been more dedicated to F&I training, product sales and reinsurance. But change is afoot in the auto finance industry, where leasing, bundled products and high-mileage used cars are growing in prominence. To keep up with these developing trends, new products are being introduced … Read More »

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