As promised, here is the next installment of our blog posts on handling incoming sales calls. In my last post, we looked at how poorly the average dealership handled these calls and how much money was being lost by not taking advantage of these opportunities. In this installment, we will talk about what should be your goal for every call and techniques for reaching those goals. Your first goal with
Good Morning, ABC Motors. How can I help you? I saw an ’02 Malibu on your lot yesterday. How much is it? I’m sorry, we already sold that car. Uh, OK. Thanks. Goodbye. How many sales calls at your dealership sound like this one? More than you think according to numerous studies. A J. D. Powers study of inbound sales calls to auto dealerships found that: Only 11%
Collections during the upcoming holiday season always become just a little tougher. We know our Buy Here – Pay Here customers live paycheck to paycheck and, during this time of the year, there are more demands on those paychecks than ever. The cost of holiday meals at Thanksgiving and Christmas or Hanukkah plus Christmas presents and even preparations for New Year require extra money when our customers have very little
Charging late fees is a practice some Buy Here – Pay Here dealers choose to do but an approximately equal number consider to be a bad practice. Those who charge fees when their customers pay late typically look at it as another source of revenue. Those who believe that it is a poor practice will, more often than not, site one or more of the following reasons. 1. Your customers
I’d like to share a guest blog this week written by my friend, Jim Radogna. Jim is the President of Dealer Compliance Consultants, Inc. Before founding Dealer Compliance Consultants, Jim developed a strong background in dealership operations, having spent over 15 years in dealership management. His experience includes working in diversified roles including sales manager, F&I director, general manager, and training director. In addition, he served as compliance officer for a large
I usually keep these blog postings pretty non-commercial. I try to make them on industry related topics and as informative as possible. I decided to make this one a little different in light of our recently announced Business Builder Pricing. We get inquiries from dealers looking to enter the Buy Here – Pay Here or Lease Here – Pay Here business frequently. As the cost of wholesale inventory has risen
You have to dig for diamonds; they don’t float to the top. It takes a little work to find the right people to staff your BHPH dealership. One of the keys to success at a DCF dealership rests on the ability of the dealership’s personnel to establish a friendly relationship with the customers. Much of that will depend on the attitude they have towards the customers. If you and your
Making the decision to be in the Buy Here – Pay Here business can be a difficult one. The BHPH business is unfamiliar territory, even for someone with years of automotive experience. The Buy Here – Pay Here business is not the car business. In the BHPH business, the dealer takes on collection responsibilities normally assumed by the outside lender and that unfamiliar activity is the critical piece to being
This is part three of an article on what needs to be in your compliance binder. If you have not read parts one and two, I strongly suggest you do so. Several federal laws and regulations enacted over the last 10 years have required all car dealerships to have written plans outlining your efforts to comply. Failure to do so can lead to some severe penalties. Let’s take a look
This is part two of an article on what needs to be in your compliance binder. If you have not read part one, I strongly suggest you do so. Several federal laws and regulations enacted over the last 10 years have required all car dealerships to have written plans outlining your efforts to comply. Failure to do so can lead to some severe penalties. Let’s take a look at several
