In Demand Vehicles

Pain Point: How to Stock Used Vehicles Customers Want

Resolution: Stocking In-Demand Vehicles

Chances are you have someone on staff who fancies himself a used car expert. He’s been a valued employee. He’s been around forever. And, at the drop of a hat or before you can get out your Blackberry, he can tell you the price of a 2002 vehicle with 120,000 miles on it. You know who we’re talking about.

But there’s a problem: Nobody can know it all anymore. The digital revolution has changed how the game is played. Ignore the new rules at your own peril.

As the video below shows, there’s a new way to know and stock the vehicles that your customers want.

For more information, download our In-Demand Vehicles PDF.

E-Contracting

Pain Point: How to Stop Chasing Cash Every Day

Resolution: E-Contracting

Some of today’s dealerships opened their doors in a bygone era — selling horse-drawn carriages. Unfortunately, some dealers are collecting receivables at about the same pace as the horse and buggy era.

Today, we live in a tweet and text-message world. Failure to quickly collect vehicle receivables leaves many dealers in the frustrating and uncomfortable position of chasing cash every day.

Dealers need to collect at Internet speed, and the video points the way.

For more information, download our Cash Flow E-Contracting PDF.

Contracts in Transit

Pain Point: Cash Flow Giving You a Sinking Feeling?

Resolution: Contracts in Transit

You’re making sales and showing a profit but the bank balance is close to zero or worse! If you’re in choppy financial waters, then somewhere in the store there’s a Bermuda triangle swallowing up cash and threatening to sink the dealership. As captains of the ship, dealers must locate the problem and chart a course to calmer waters.

Watch the video for info on one place to look, and how to navigate around the problem.

For more information, download our Cash Flow Contracts in Transit PDF.

Risk-Based Pricing

Pain Point: Requirement for Credit Customer Notices

Resolution: Learning to comply with Risk-Based Pricing

Dealership F & I departments have a new federal rule they must comply with effective January 1, 2011. That’s when the new Risk Based Pricing Rule took effect. Congress mandated the rule when it passed the FACT Act in 2003.

The rule is designed to help customers understand the effect that their credit report has on the credit terms they are being offered. That sound simple enough but finding a way to implement the law’s objective in the real world proved to be far more difficult for the two agencies charged with writing the regulations: the Federal Reserve Board and the Federal Trade Commission. NADA suggested the agencies find a manageable way for dealers to comply with the law. And they did.

Watch the “Dealer Deadline” video to learn more about dealership responsibilities under the new rule.

For more information, download our Risk-Based Pricing PDF.

Privacy Notice

Pain Point: Need to Adopt New Model Privacy Notice!

Resolution: For quick, intensive learning, see archived webinar, “Transitioning to the New Model Privacy Notice.”

Privacy law requires dealers to notify consumers about their information-sharing practices and to inform them of their opt-out rights. The FTC and the federal banking agencies have released a new model privacy notice form that makes it easier for consumers to understand how dealers and other financial institutions collect and share information about consumers. The new notice is the only notice that will afford dealers safe harbor protection beginning December 31, 2010.

Watch the video to learn more about the new notice and what’s at stake.

For more information, download our Privacy Notice PDF.

Extended Service Contracts

Pain Point: Low Service Contract Sales

Resolution: Profit-Building Tools and Training from NADA University

Service contracts don’t exactly sell themselves, do they? What dealer wouldn’t want a product that not only makes money today but improves service department profitability and brings customers back to buy their next car? If that sounds to you like something that not only boosts profits but builds a business, you’re right.

But the truth is that even the best products are just opportunities – they never really sell themselves.

Watch the video to discover how a single sale can turn into a profit-rippling wave that surges through your dealership and leads to steady growth in every department.

For more information, download our Extended Service Contracts PDF.