A dealership's success relies not only on selling vehicles, but also on managing the complexities of finance and insurance (F&I). This is where fill-in F&I specialists fit into the equation. They become strategic partners with dealerships to provide the necessary tools and expertise to navigate the financial and insurance aspects of the business.
Topics: Finance & Insurance, Dealership Profits, F&I Specialist, Dealership Strategy
The U.S. automotive dealership market is expected to clock USD 257.3 billion, registering a CAGR of above 4% over the next five years (2023-2028). So, it's easy to see why many dealerships scramble to get the most out of their sales campaigns.
Topics: Dealership Profits, Dealership Sales, Sales Department, Dealership Strategy
Dealer equity programs are structured initiatives implemented by a company that allow dealers (distributors) to acquire ownership shares in the company. Equity is offered as a reward or incentive for their consistent performance, loyalty, and contribution toward the business's growth and success. Such programs align the interests of dealers with those of the company, which fosters a sense of partnership and encourages long-term dedication.
Topics: Dealership Profits, Dealership Employees, Dealership Sales, Dealer Equity programs
Establishing effective financial strategies to maximize returns in the automotive industry can be challenging, especially for small to medium-sized car dealerships. With fluctuating market conditions and evolving customer demands, it becomes vital for dealership owners and managers to adopt proven practices that enhance profitability and sustained long-term growth. Automotive businesses can strengthen their financial health by managing expenses, offering customers a choice in car financing, capitalizing on after-sales services, and much more. Let's look at how these strategies can turbocharge your sales.
Topics: Finance & Insurance, Dealership Profits, F&I Profits, Dealership Strategy
The Finance & Insurance (F&I) process is a critical part of the car-buying experience, and it can make or break a deal. If the process is too long or complicated, buyers may walk away. But if it's smooth and efficient, it can help to close the deal and increase profits.
Topics: Dealership Profits, F&I Profits, F&I Process
Auto dealer reinsurance is a burgeoning business idea that's gaining momentum among automobile dealer principals, and general managers. Reinsurance is a customized insurance product designed to enable auto dealers to provide customized products to customers. The business aims to increase your long-term revenue growth.
Topics: Dealership Profits, reinsurance, dealer reinsurance
Can you believe it’s almost July already! The summer has just begun but it’ll fly by before you know it. That’s why you’ll want to ready your dealership staff before the 4th of July weekend hits. Here are a few tips to ensure that your Independence Day weekend goes smoothly.
Topics: Dealership Profits, Dealership Solutions, Social Media, Dealership Sales, 4th of July
It's no secret that the acquisition cost of a first-time customer is significantly higher than a second- or third-time customer. So, what is the magic formula for bringing customers back to your dealership again and again? We want to share our top tips to build that relationship and keep customers coming back.
Topics: Dealership Profits, Customer Service, Dealership Solutions, Lifelong Customers, Dealership Customers
Your F&I department is a key influencer on your Parts & Sales business. Every department at a vehicle dealership depends primarily on an unpredictable flow of new and returning customers to make revenue quotas, but the sale of an F&I department product is a predictable opportunity to generate additional Parts & Sales revenues.
Topics: Finance & Insurance, F&I, Dealership Profits, Prepared Maintenance Programs, Tire and Wheel Protection, Paintless Dent Repair
Car sales is a competitive business. In any given town in America, you can bet that if there is one car lot, there is always at least one more. Most of the time there are several more. How can you manage to find that niche, that one special thing that your car dealership offers that attracts customers?
Topics: Finance and Insurance, Automotive F&I Training, Dealership Profits, training