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What will rural residential high-speed internet mean for rural dealerships?

As the U.S. infrastructure bill works its way slowly through Congress, I thought it would be good to look at what this could mean for rural customers and their dealerships. Internet speeds in the urban areas have been well over 100mps for years while many rural areas are 10X slower (10mps) and close to old … Read more

Modern Deal Management drives Lender funded deals – far better than Digital Retail

A sale doesn’t happen until you have a transaction, which in most cases means an approved and funded loan or lease is accepted by the customer. The modern shopping process is disrupting the traditional flow of when and how dealers reach a sale. Technology lets customers think they can do a lot of the sales … Read more

Go beyond the ‘Buy Now’ button with your digital retail solution

The Covid pandemic changed automotive retail in 2020, and whether you consider the changes bad or good, many are staying with us. Digital retail became all the rage in 2020, never mind that several DR companies have been around for years. Heck, CreditIQ has help clients sell (fully funded and contracted deals) since 2017. 2020 … Read more

Why owning the Digital Retail Experience is vital to dealer brands and their market position.

How do your customers perceive your dealership and dealer group? Do you fit the customer’s desire for how they want to buy a vehicle? If not, how is that affecting your brand image? Millennials, the first technologically focused generation, are now the most significant vehicle buying segment. They are primarily digital natives and experts at … Read more

Dealerships are SUCCEEDING with personal relationships when other retailers are failing.

The personal relationship is still vital in business. Dealers and staff do a great job (usually) of developing the personal connection with customers, whether in sales or service. There are a few areas of disconnect, like the online to dealership handoff, but for the most part, I believe dealerships do a better job than a … Read more

Low inventory, record profits, and how to grow revenue even more.

The world automotive industry is expected to lose $110 billion in sales in 2021. With the U.S. being the #1 auto sales country globally, that is a significant sales loss for dealerships. Although the dealership industry held gross much better with the limited available inventory, they need to start looking beyond front-end gross to keep … Read more

How To Make sure your protection product profits are maximized with the correct lender decision.

When rates and reserve are about equal on an F&I deal, it’s critical to understand your ancillary product maximums per lender decision. Ideally, you want to select the lender decision that allows maximum profitability on any sold protection products. However, you also want to ensure that the lender reserve allows an adequate profit based on … Read more

How much does it cost you to train a new F&I manager to be just 80% effective?

There are two scenarios: Promoting or hiring a newbie into the F&I department and training them from scratch. Hiring a trained F&I director from another organization. Both have different cost structures, but they both need training and management oversight for a set time. If they are a newbie, they have to learn all the lending … Read more