As the owner of a car dealership, you already know how valuable a talented salesperson is in meeting your car sale quotas. However, perhaps some of your best sales talent recently moved on, or retired. Salesperson development is probably on your immediate agenda, but you're undoubtedly dreading the training time.
Maintaining your dealership's forward momentum can be tricky, especially so when you lose a key player at the last minute. If your business manager or finance professional leaves unexpectedly, what can you do? Fortunately, there are resources available to keep your business humming.
Your F&I office may have a problem lately in selling too many of the same products, a trap that's easy to fall into if stuck doing things the same way. Lately, though, you're perhaps noticing sales slipping and the need to provide something innovative. With your customers expecting more out of buying or leasing a car, they'll want to go beyond just the basics in F&I.
If you own or manage a car dealership, having excessive turnover in your staff is the last thing you want to start a new year. While you've maybe avoided this most of the time, what happens if a valuable employee suddenly leaves?
This employee vacancy might occur out of the blue due to family circumstances, a health event, or just wanting to move on. The person who left could also be a vital part of your dealership, like a business manager.
How are you going to go about replacing them quickly? Trying to find a new candidate on your own can take far too much work. Going through a general recruiting firm wouldn't help either if they don't work regularly with dealerships.
Only an automotive consultant can help you find solutions fast.
Running a car dealership is already stressful, but it can compound when manufacturers throw expectations at you about wanting specific things done. They may expect you to remodel, update your technologies, or just generally change the aesthetics of your dealership.
Your car dealership's F&I department may already feel comprehensive in the products it's offered car buyers over the years. However, are you really sure you're providing the products customers want?
Running an auto dealership usually means trying to balance more than just selling cars. As you already know running a dealership, you have numerous departments that may need more business to bring a steady income. One major area where you can keep cash flow going is the parts and service department.
Every car dealer knows that the path from the initial sale of a vehicle to the final retail installment sales contract ("RISC") is filled with potential risks and pitfalls that can cause the dealer to run afoul of sales disclosure regulatory obligations. A good Business Manager can use menu selling to avoid those risks and to create a document path to verify that the dealership has made all required disclosures and that the car buyer has acknowledged receipt of those disclosures.
Sales of vehicle service agreements is the perfect way to increase your dealership's profits. If you're not serious about selling service contracts, you're leaving money on the table. Here are a few tips and tricks to promote vehicle service agreements—even with the toughest customers.
Topics: vehicle service agreements
Finance & insurance are the cornerstone of a strong dealership. Only if you handle F&I properly can you maximize the sales available with each customer. But when dealing with such a variety of people day after day, it can be hard to decide what the best overall approach is.