Dealership Development, LLC Blog

Are you focusing on ALL of the important components that make your dealership truely successful?

If you think running a dealership is only about selling cars, you may be over looking some of the many factors that go into making a dealership successful, and you could be loosing money.

In the ever-changing world of automotive sales, keeping your F&I department truly profitable is a constant struggle. Recently, F&I Magazine published a great article by Rick McCormick that points out some of the common errors your sales team might make. They follow it up with some great suggestions on how to become a problem solver rather than a product pusher. Let’s take a look at the relevant points of the article.

The ability to use creativity to identify the customer’s problems and solve them, is the key. You need to be asking the pertinent questions and listening closely, before taking any action. You need to be able to see the problem from the customer’s point of view. This will create the opportunity to communicate the problem to the customer in such an urgent manner, that they will pay you to solve it.

The FTC recently approved a round of final changes to the Used Car Rule that all used car dealers should be aware of and familiar with. This rule, formerly known as the Used Motor Vehicle Trade Regulation Rule says that all car dealers must have a window sticker on any used car offered for sale.

Most people are somewhat familiar with the calculators on various websites (for repaying loans, savings, interest, and the like). However, it may come as a surprise to many that when they enter an annual percentage rate (APR) and term length, they very well could be getting misleading information. This isn't to say there is something fundamentally wrong with the calculator -- but the data entered. Read on to see how calculators can steer auto customers wrong:

As the year 2016 draws near to closing, it is useful to take a look at some trends and statistics from this year -- and also how some of the loan tendencies compare to 2015. Let's take a 2016 automobile loan statistics look at some.