Archive | Product & Technology

Who Is Your Tech Expert?

Who Is Your Tech Expert?

Years ago, it wasn’t cool to buy all of your stereo equipment from the same company. Your turntable had better have a different label than your receiver, which was different than your speakers, and so on. For those who were real music and stereo experts, you could justify these purchases based on quality you could … Read More »

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New Technology Doesn’t Make You Compliant

New Technology Doesn’t Make You Compliant

Recently, I was visiting with a dealer and the recent rash of articles concerning compliance came up. As I shared what I knew on the subject and the current climate concerning fines and penalties, the dealer sat back, smiled and said, “I’m good. We use a menu.” Since I was there to train the F&I … Read More »

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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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