Kimberly Long - Griffin’s Credit Quick began as just a single desk in the corner of the new-car dealership’s showroom and later moved into the group’s Isuzu store. Eventually, the Isuzu franchise was sold to allow the BHPH business to expand...
As anyone who has dealt with special finance knows, getting a special finance department successfully off the ground can be a daunting task. Throughout 2009, Special Finance Insider will follow one dealership’s attempt to do just that.
Kimberly Long - Mountain View has been steadily working toward a stronger online presence for several years, striving to mold efforts into what Erwin described as “a full-fledged, go-after-it, no-holds-barred concept of e-commerce.” That concept has developed into a ...
Kimberly Long - Buying a dealership, even a small one, can be a complicated experience, even for seasoned business owners. Just ask Luis Aliniz, dealer principal of Aztec Chevrolet Pontiac Buick in Beeville, Texas.
Kimberly Long - Compliance in general is an ongoing headache for dealers. Adverse action, in particular, is something many have been struggling to get a handle on for quite some time ... Compounding their worries, dealers will soon have to contend with...
There’s not much that’s traditional about Tracy Buick Pontiac GMC Cadillac in Tracy, Calif. From how their advertising budget is allocated to running the sales floor, their approach is anything but ordinary. While this franchise store meets its new car objective nearly every month, approximately 90 percent of its total business is special finance.
To simply look at Auto-Torium’s special finance numbers, it would be easy to forget the subprime upheavals and poor economic climate that dealers must contend with these days. However, keeping their sales consistent from month to month has not been accomplished without some effort and a few adjustments. As finance director T.C. Munroe said, “It’s a very, very delicate balance.”
Kimberly Long - With the current economic climate forcing many dealers to rely on used vehicle sales to pull them through the slump in new car sales, it’s more important than ever to have a solid system in place for management of used vehicle inventory.
“It’s just a matter of committing to it.” That’s how Ed Walsh, general manager, explained the success of Lamb Auto’s new special finance departments, more commonly referred to within the dealerships as secondary finance. “We’re just wholeheartedly committed to secondary finance and it’s been paying off handsomely.”