Most BDC’s were set up to take internet and phone leads to allow the showroom floor salespeople to work the ups that were on the lot. Thus, they became information providers and appointment setters for the showroom sales staff. What would happen if you turned the BDC into a digital retailing sales force? One of … Read more
The allure of a digital retailing process for auto buyers is very enticing. Customers expect a digital retailing experience to be similar to their other online shopping experiences. They don’t understand nor care about the complexity of the automobile sale process and often walk away from digital “deals” when they get to the showroom and … Read more
Dealers work with everyone who wants to buy a vehicle and with the sales process moving online quickly it’s important to define the common term of “Perfect”. There are a lot of vendors touting “Perfect” calculation products that can be confusing to dealers. Perfect sounds great but what does it actually mean? There are two … Read more
In a time when discrimination and racism are a focal point in our nation, it’s important to look back on financial discrimination in auto lending and forward on how we can do better as an industry. In 2013, Ally Financial paid out $98 million to settle a suit claiming they discriminate by charging minorities higher … Read more
As dealerships look to adjust to the new sales processes that social distancing requires, it is important to see the benefits it brings. Here are some basic data points from a dealer group and one of their banking partners regarding online customers and financing. Less than 2% of applications were below the bank’s preset filters, … Read more
