The Road to ROI with F&I

Why Your Workers Matter More Than Your Strategy

Posted by Vanguard Dealer Services on May 17, 2021 11:37:15 AM

In the twenty-first century there has been an undeniable push toward digital advertising and selling. Now more than ever, car dealerships and businesses are attempting to rely on methods that can reach people from afar, as so many individuals are being cautious with their interactions. In truth, undesirable sales figures can be partially attributed to salespeople. A proper sales team, with true sellers who have been trained correctly, can make all the difference when it comes to selling product. The best way to increase sales and success in your car dealership is to focus on your workers.

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Topics: training, Dealership Employees, employees

How to Increase Customer Retention Rates in Your Dealership

Posted by Vanguard Dealer Services on May 10, 2021 9:30:00 AM

Management of customer retention rates is one of the key pillars of successful dealership. Great research from Harvard Business School details that a 5 % increase in customer retention rate significantly improves the business profit from 25% to 95%. Also, the fact that it is five times more difficult to acquire new customers extends the need to have customer retention strategies. Therefore, mastering the art of customer retention is an imperative undertaking in dealerships. How then can you do this?

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Topics: Customer Service, Customer Retention, customer experience

Using Social Media to Help Brand Your Dealership

Posted by Justin LaRocque on May 3, 2021 4:35:49 PM

As auto dealers continue to hunt for new ways to catch customers' attention, many are still not using social media to its fullest potential. The current pandemic has made social media more important than ever when it comes to branding-- and auto dealerships are no exception. It's essential for dealers to be on social media. It's an ideal way to work on branding and to acquire new leads.

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Topics: Social Media, Brand Awareness, Dealership Social Media

Stay Consistent with Deal Audits

Posted by Valentin P. Sanchez on Apr 26, 2021 12:29:12 PM

If you are running a dealership, you must have known by now that having a robust internal control environment is a crucial success factor in your business. With the proper internal controls and consistent audits, your organization cannot only achieve the set goals but also guaranteed operational efficiency and effectiveness.

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

5 Effective Ways to Improve Your F&I Process

Posted by Valentin P. Sanchez on Apr 19, 2021 5:00:47 PM

DESIGNING A SUCCESSFUL F&I PROCESS FOR YOUR BUSINESS

Having a well-established F&I department is one of the most important things for financial growth. Establishing strong profit centers within your organization helps you ensure that the purchase process is well monitored by scrutinizing the customer. Some of the ways that the F&I process helps dealerships are; access client credit reports, review credit application, and budget clients' credit reports and leases or loans within the set guidelines of financial institutions such as banks, financial companies, and lease companies. Conducting a successful F&I process plays an important role in client engagement and attracting prospects through the opening.

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

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

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