How much should you tell a potential customer about the condition of a vehicle in your inventory? You sell your vehicles As-Is and try to make sure the customer understands what this means. How much disclosure makes sense and where should you draw the line between being totally honest and doing what is best for your business? First, let’s look at the legal requirements that pertain to this question. Some
How much should you tell a potential customer about the condition of a vehicle in your inventory? You sell your vehicles As-Is and try to make sure the customer understands what this means. How much disclosure makes sense and where should you draw the line between being totally honest and doing what is best for your business? First, let’s look at the legal requirements that pertain to this question. Some
Training employees is an essential activity for all organizations. If you want your BHPH dealership to grow and succeed, your employees must be trained. Training provides employees with the key knowledge and skills that they need to perform their job. Training is also regularly sited as one of the key ingredients in retaining quality employees. Training must not be viewed as a one-time occurrence but, rather, as a continuing part
Much is made of the latest technological advantages in displaying inventory on the Internet, obtaining leads, selling cars, and, for BHPH & LHPH dealers, collecting your money and tracking your customers. The important thing to remember is that the car business always has been and always will be about people. All the latest developments can help you enhance your reputation, provide greater visibility for you and your dealership and help
It’s all to do with the training: you can do a lot if you’re properly trained. Queen Elizabeth II Car dealers have been hearing that training their staffs is important for years now, including Buy Here – Pay Here dealers. As true as that has always been, it may never has been as important as it is today. Let’s take a look at three reasons that training your employees is
An important aspect of establishing goals, creating plans for reaching those goals and managing your time so you can achieve those goals is thinking about your personal philosophy. Whether you are a new car dealer, an independent retail dealer, a dealer controlled financing dealer or unrelated to the car business at all, our personal philosophy stears our actions as we plan, implement and, hopefully, achieve our goals. One of the
Effective time management can help you get more done, reduce your stress and reclaim your personal life. Do you find yourself overwhelmed by the number and complexity of projects that need to be completed at work each day? As the day flies by, do you often feel as if you haven’t paid enough attention to each task because other tasks keep landing on your desk, co-workers interrupt you with questions
A study of Harvard MBA candidates found that 3% had clear written goals and plans for accomplishing them, 13% had goals but had not put them down in writing and 84% had no goals when they were first entering the program. Ten year later the same students were re-interviewed. The 13% that had goals were making twice as much as the 84% with no goals but, even more astounding, the
…With the FTC and the CFPB? I’ve written before about the various regulations auto dealers are required to comply with, the wave of new regulations expected now that the CFPB is up and running at full strength and the growing threat of increased enforcement action on the horizon as these agencies flex their new muscles. Today I want to look at the 3 top reasons dealers are not prepared. 1. They
In the last two installments, we looked at how poorly most dealerships handle incoming sales calls and some tips at getting the information you need from each call. In this segment I want to talk about five things you should never do or say during that first call. 1. Fill out the application Completing the actual credit application is something that needs to be done in person. You can’t look a
