The Road to ROI with F&I

Why Your Team Matters More Than Your Sales Strategy

Posted by Vanguard Dealer Services on Apr 12, 2021 4:02:25 PM

Many car dealerships tend to focus most of their attention on marketing strategies. They implement quality digital strategies to build a brand, boost sales, and gain an edge over their peers. However, some fail to realize that their salespeople are the linchpin of a successful automobile dealership.

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Topics: Dealership Employees, Sales Motivation, Sales Department, employees

Important Tips (and Laws) to Help You Stay Consistent with Deal Audits [Part 2/2]

Posted by Vanguard Dealer Services on Apr 5, 2021 4:52:20 PM

Top 10 Dealership Laws and Regulations

As we have already discussed, the automotive retail industry faces a complex challenge of complying with the stringent legislation as set by state and federal governments. Many dealerships have often fallen short of expertise, time, and workforce to uphold the mandatory requirements.

In part two of our article, we break down the regulatory language and jargon to help you understand what the federal and state is required of you.

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Topics: compliance, dealership compliance, Automotive dealership compliance, F&I Compliance, dealer audits

Important Tips (and Laws) to Help You Stay Consistent with Deal Audits [Part 1]

Posted by Valentin P. Sanchez on Mar 30, 2021 10:12:14 AM

Most automotive managers are so pre-occupied with bottom-line results (driving profits) above all else. And that's fair enough since today's auto retail industry is more competitive than ever. Nevertheless, the cowboy car dealer days are well over. 

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Topics: Auto Dealer Compliance Issues, compliance, dealership compliance, F&I Compliance, dealer audits

Tips to Improve Your F&I Process with Your Customers

Posted by Vanguard Dealer Services on Mar 22, 2021 5:16:54 PM

The F&I process is crucial in every dealership. According to research by NADA, an average dealership company reaps half of its profits from F&I products. Therefore F&I process and strategy need to be exemplary. Companies are consistently looking for approaches to improve their sales processes and customer experience. Below are four ways to improve the F&I process in your dealership.

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Topics: F&I, F&I Specialist, F&I Profits

The Benefits of Working with Fill-in Specialists for Your Dealerships in 2021 & Beyond

Posted by Vanguard Dealer Services on Mar 15, 2021 9:30:00 AM

Whether you're an experienced or novice automotive dealer, you realize that from time to time, dealers suffer from employee fall-outs, random no-shows, and other reasons why your employee is not at work. Sometimes, employees quit without giving notice. Worse enough, while there is never an opportune time, these things always seem to occur when you are least expecting it.

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Topics: F&I, F&I Specialist, F&I Business Manager

Dealer-Owned Reinsurance: What it is and Why You Should Consider One

Posted by Steve Memolo on Mar 8, 2021 9:30:00 AM

As it is with most dealerships, your parts and service department is probably your company's lifeline. According to a previous report by the National Dealership Association, the service and parts department accounted for about 46% of the gross profits of the average dealership. Putting such figures into considerations and your F&I department isn't as close in terms of profits, there's no better time to start considering dealership reinsurance than now.

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Topics: reinsurance, Dealer-Owned Reinsurance Company, Dealer-Owned Reinsurance

Innovative Tips to Stay Consistent with Deal Audits

Posted by Vanguard Dealer Services on Mar 1, 2021 9:30:00 AM

In the automotive industry, laws and regulations are always being updated and changed. It’s essential to keep up on the latest information and news and also be consistent with Deal Audits. Here are a few tips to consider when needing to keep your dealership compliant.

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Topics: compliance, dealership compliance, Automotive dealership compliance, F&I Compliance

Why Your People Matter More Than Your Strategy

Posted by Vanguard Dealer Services on Feb 22, 2021 4:42:44 PM

What makes a car dealership successful? While it's important to have a solid sales strategy and a cohesive plan to attract new customers and retain current ones, your team is at the heart of your success. Without a strong team, even the best-laid plans may fall apart. Here's why in the end, your people matter more than your strategy does. 

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Topics: Dealership Employees, employees

3 Incredible Benefits of Becoming a Dealer-Owned Reinsurance Company

Posted by Steve Memolo on Feb 15, 2021 11:24:55 AM

Reinsurance is an agreement between two insurers, where one transfers portions of its risks portfolios to reduce the chances of paying a large insurance claim. In this model, the reinsurer is the second business and is responsible for clearing the claims that arise from the first company.

In the dealership world, reinsurance is a separate company owned by you, the dealer, and is in charge of providing vehicle service contracts, certified pre-owned programs, GAP, warranties, and collateral programs for your clients without involving the services of third-party insurance.

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Topics: reinsurance, Dealer-Owned Reinsurance Company, Dealer-Owned Reinsurance

5 Ways to Increase Customer Retention at Your Dealership

Posted by Vanguard Dealer Services on Feb 8, 2021 10:00:00 AM

Acquiring a new customer can cost five times more than retaining an existing one. However, in a world where customers are more informed, more demanding and savvier than ever, retaining existing customers can be challenging.    

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Topics: Customer Service, Customer Retention, customer experience

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