Tag Archive | "dealers"

Innovative Lending Releases Loan Management Tool for F&I Offices


CHICAGO — Innovative Lending Solutions LLC announced the release of Stip Trac, an automotive loan management system designed to help dealers track cash flow, collecting necessary loan documents, or stips, and keeping an open communication line with car buyers before and after their purchase.

Stip Trac features a dashboard that allows users to track cash owed by a bank, set “contact-in-transit” limits, and track money in transit by salesman. It also provides status updates on any deal in transit, held at dealership, funded, etc. Users can also look up the age of a deal and missing stips, as well as add internal notes that can be viewed by all parties involved with the loan.

Stip Trac also allows dealers to add additional stips to a loan at any time, push welcome calls to the bank, and gain real references and referrals from customers. It also provides users with a “contact list” on their cell phone, and the ability to approve or deny stips as they are received.

The new tool also features a custom messaging so users can send an urgent message to the car buyer. It also offers automatic push notifications and a dealer-branded app that allow users to monitor a loan’s progress on their smartphones.

For the consumer, Stip Trac helps protect them from identity theft. It can also eliminate additional trips to the dealership to drop off loan-related documents, speeding up the finance process at the dealership.

“Stip Trac is a needed tool to improve the automotive loan process for car dealerships and consumers. Using Stip Trac removes a lot of the stress that today’s finance managers are facing today,” said Ed Maisonneuve, president and CEO of Innovative Lending Solutions LLC. “We truly built this so the delivery process is a smooth one. As a finance manager, I can’t tell you how many times a deal came into my office with missing documents, bad references, missing signatures. StipTrac 100% eliminates that.”

For more, visit www.StipTrac.com.

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DeLong Named VP of Covideo


NORCROSS, Ga. — April 6, 2017 — Covideo (a division of EasyCare) has appointed Mike DeLong to the position of Vice President, heading the company’s Dealer Services division. DeLong is a 30-year industry veteran who has been with Covideo since 2007.

“Mike has been critical to our success and growth over the last ten years,” said Jason Price, president of Covideo. “His experience in the automotive industry made him the best person to build the foundation for our automotive business development process. Mike’s new role will allow him to focus on corporate initiatives that will drive strong solutions for our dealers and long-term growth for our company.”

DeLong joined the company upon the sale of Nissan of Hickory (N.C.), where he served as operating partner. It was there that DeLong was first introduced to the Covideo platform, which is designed to help dealers easily create and distribute personalized videos for sales prospects. Prior to buying into Nissan of Hickory, DeLong spent 15 years as general manager of Brighton (Mich.) Ford.

“Covideo is the only form of video e mail that allows all areas of the dealership to engage with their customers on an extremely personal level. This is more important in today’s environment than ever before,” DeLong said. “My new role as vice president will enable me to focus on identifying additional dealership groups and other companies engaged in the automotive business who realize the power of personal video and who want to realize the same success our current customers have had in driving profits thru video engagement.”

For more information about the company, visit Covideo.com/Automotive.

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RoadVantage Takes Dealer Training to the Next Level with Program Optimized for Web-Savvy Consumers


AUSTIN – RoadVantage, the fastest-growing provider of F&I programs for the automotive industry, today announced the launch of a cutting-edge dealership training program that has been optimized to help dealerships sell to today’s Internet-educated shoppers.

“Today’s dealership customers are a new breed of savvy – their shopping habits have evolved radically in the last decade,” said Garret Lacour, founder and CEO of RoadVantage. “Dealership practices must evolve accordingly.”

RoadVantage is offering F&I and sales operations training in partnership with The Academy, an Austin-based training center that has developed a curriculum specifically designed with today’s Internet-educated consumer in mind.

“The Academy’s uniquely developed process recognizes that a shift in mentality and focus is necessary in the face of today’s more informed customers,” said Tony Dupaquier, Director of The Academy. “Post-training surveys indicate that students who attend The Academy experience higher closing ratios, profit margins and CSI scores.”

The RoadVantage Dealer Training Program includes workshops for personnel at all levels within F&I and sales operations. The comprehensive training covers a wide range of topics and can take place onsite at the dealership, or at The Academy’s state-of-the-art training facility in Austin, Texas. Self-paced online training modules are also offered.

“Everyone knows consumers are researching and shopping online, so it’s time we equip dealers with the tools they need to effectively reach them,” continued Lacour. “This is a big initiative of ours. Last fall we created free online videos, available to all dealers nationwide, to drive consumer awareness of F&I programs before they go into the dealership to purchase their vehicle. Alongside our free online dealer videos, our new dealer training program is another example of how we are working to help dealers provide a better customer experience.”

The free dealer videos are available on the RoadVantage YouTube channel at http://bit.ly/2fWigrR. More information on the RoadVantage Training Program can be found at http://roadvantage.com/training.

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EFG Companies Launches 1,000,000 Mile Limited Powertrain Protection


DALLAS, TX – EFG Companies, the innovator behind the award-winning Hyundai Assurance program, announced today the launch of a 1,000,000 Mile Limited Powertrain Protection program for motorcycles. This program is designed to foster increased customer loyalty, referrals, and unit sales by addressing pressing motorcycle consumer needs.

While the powersports industry is currently experiencing a period of year-over-year growth, everyone in the industry has an eye on the horizon for the next economic downturn. Dealers are looking to maximize sales while they last and fortify their operations for the future.

“Today’s customers are already in the mindset of being very careful with where they spend their money, and are looking for the best value for the dollar. This has resulted in an enhanced pre-owned bike market over the last few years,” said Glenice Wilder, the vice president of EFG Companies Powersports Division. “By offering 1,000,000 Mile Limited Powertrain Protection, motorcycle dealers have the ability to differentiate their operations, and increase customer loyalty and new customer sales, by providing customers complimentary protection for their bikes.”

The 1,000,000 Mile Limited Powertrain Protection is designed to be offered complimentary on thoroughly-inspected, eligible bikes up to 10 years in age with less than 60,000 miles. The product provides coverage for the engine and transmission up to 1,000,000 miles, with towing assistance.

Customers then have the opportunity to enhance the coverage with an extended vehicle service contract, expanding the covered components and providing additional benefits including roadside assistance, rental reimbursement and unlimited number of claims. By upselling customers to the extended coverage, powersports dealers have the ability to increase their profit per unit during a time when every sale counts.

“As our market has grown into a more competitive space, powersports dealers need more than generic customer service promises to differentiate their business,” said Chris McIntyre, the CEO of EagleRider. “A program like the 1,000,000 Mile Limited Powertrain Protection from EFG helps dealers build a stronger brand message around customer service to drive more traffic and customer loyalty.”

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GSFS Group Launches F&I Performance Reporting Tool


HOUSTON, TX — On Tuesday, F&I product provider GSFS Group launched a new centralized online performance reporting tool for F&I products called Dealer Executive Dashboard. It’s designed to help users update income strategies and improve profitability.

The online data solution provides dealers and agents with access to extensive claims analytics, customer retention data, performance reports, dealer comparisons, and participation structure information. It features a user-friendly design and can be used on mobile devices, according to the company.

“We saw a pain point for our clients when it comes to information and wanted to find a solution. This gives our clients the ability to access info anywhere and anytime,” said Steve Amos, president of GSFSGroup. “I am proud of our team for creating, developing and launch this tool. We will continue to build and push the market forward using tomorrow’s technology.”

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NFADA’s MacKay to Deliver Compliance Summit Welcome Address


LAS VEGAS — Andy MacKay, executive director of the Nevada Franchised Auto Dealers Association (NFADA), will deliver the welcome address at the upcoming Compliance Summit, organizers announced Monday. The event will be held Aug. 29–30, 2016, at Paris Las Vegas as part of the annual Industry Summit.

MacKay’s address, “The Dealer’s Voice: Trade Associations on the Front Lines,” will begin at 9:05 a.m. on Monday, Aug. 29, following a sponsored breakfast and preceding the opening keynote address, which will feature The Warranty Group’s Aaron Lunt. MacKay is expected to offer an insider’s perspective on campaigns led by NFADA and other dealer trade associations against regulatory and factory overreach.

“We simply could not have asked for a better speaker to kick off the first Compliance Summit designed for dealers in the Western states,” said David Gesualdo, show chair and publisher of Auto Dealer Today and F&I and Showroom. “Considering the work he and his organization have done on behalf of franchised dealers throughout the state of Nevada in what has been, at times, a hostile regulatory climate, we can’t wait to hear what he has to say.”

The Compliance Summit agenda also will include educational sessions devoted to Rules and Regulations, Your Responsibilities and Easy-to-Implement Processes and Controls. Registered attendees are invited to RSVP to attend the review session and sit for the Certified Automotive Compliance Specialist exam, offered for no additional charge by Automotive Compliance Education (ACE).

To register for Compliance Summit, click here.

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