All Blog Posts Tagged 'F&I' (29)

Auto/Mate Announces Integration of DMS with Innovative Aftermarket Systems (IAS)

ALBANY, N.Y. – December 9th, 2013 – Auto/Mate Dealership Systems (http://www.automate.com) announced today that its dealership management system (DMS) is now integrated with Innovative Aftermarket System's (IAS) suite of SmartDealerProducts for automotive dealerships. Dealers using both Auto/Mate's DMS and IAS' SmartDealerProducts solutions can now benefit from real-time information exchange between the two systems.

 

"A typical…

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Added by Mike Esposito on December 9, 2013 at 11:43am — No Comments

Scott Volkswagen Sticks with Auto/Mate's DMS for Cost Savings, Customer Service and Streamlined Processes

ALBANY, N.Y. – October 21st, 2013 – Auto/Mate Dealership Systems (http://www.automate.com) announced today that Scott Volkswagen, the largest Volkswagen dealership in New England, has saved more than half a million dollars since switching to Auto/Mate's dealership management system (DMS) in 2006. Scott Volkswagen's employees enjoy Auto/Mate's premier customer service while using the DMS system to streamline processes within their dealership; most…

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Added by Mike Esposito on October 21, 2013 at 11:39am — No Comments

Automotive Compliance Consultants to Help Auto Dealers Avoid Pitfalls to Secure F&I Compliance via DealersEdge Webinar

CRYSTAL LAKE, IL, Oct. 15, 2013 – Automotive Compliance Consultants said today that given the era’s new focus on F&I practices, its DealersEdge webinar Oct. 24 is designed to provide auto dealers with tips for ensuring compliant F&I…

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Added by Jim Leman on October 15, 2013 at 10:49am — No Comments

To Women With a Passion for F&I

EMBRACE CHANGE

 

            The glass ceiling for women’s acceptance in the finance industry was shattered over a decade ago.

            According to the 2012 Catalyst Census of Women Executive Officers and Top Earners, which counts the number of women in upper management in Fortune 500 companies, women comprise over 18% of all executive officers in the finance industry, and 19% of board directors in the finance and insurance industries…

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Added by Rebecca Chernek on June 29, 2013 at 11:32am — No Comments

DELIBERATE INNOVATION

I was leaving my hotel room one morning, getting ready to start my day. As I walked at my usual brisk pace down the hall towards the elevators, that’s when I saw it. The yellow tape, rolling toolbox and what appeared to be an elevator technician getting ready to go to work on one of the two elevators this hotel provides. This was significant to me because I was on the top floor, and I knew with only one of two elevators working I would most likely get to stop at every floor on the way down, and… Continue

Added by David Simpson on June 12, 2013 at 10:00am — No Comments

From the NCM Institute: To Women With a Passion for F&I Written by: Rebecca Chernek

Written by: Rebecca Chernek

EMBRACE CHANGE

The glass ceiling for women’s acceptance in the finance industry was shattered over a decade ago.

According to the 2012 Catalyst Census of Women Executive Officers and Top Earners, which counts the number of women in upper management in Fortune 500 companies, women comprise over 18% of all executive officers in the finance industry, and 19% of board directors in the finance and insurance industries in…

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Added by Garry House on May 14, 2013 at 10:41am — No Comments

NCM wants to know: Is Your Menu Working You or Are You Working The Menu?

 

AutoNation USA, the #1 publicly-owned automotive retailer, opened its doors as a mega “one pricing” pre-owned operation in 1997. It built elaborate showrooms; county records show one was 218,000 square feet. The showrooms included a café, a playroom and an aftermarket display platform.

Kiosks with computers were placed throughout the store enabling consumers to efficiently check out in-stock inventory or to submit a loan application. Customers were greeted at these kiosks by…

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Added by Garry House on March 26, 2013 at 7:00am — No Comments

Is Your Menu Working You or Are You Working The Menu?

AutoNation USA, the #1 publicly owned retailer, opened it’s doors as a mega “one pricing” pre-owned operation in 1997. It built elaborate showrooms; county records show one was 218,000 square feet. The showrooms included a café, a playroom, and an aftermarket display platform.



Kiosks with computers were placed throughout the store enabling consumers to efficiently check out in-stock inventory or to submit a loan application. Customers were greeted at these kiosks by F&I…

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Added by Rebecca Chernek on March 20, 2013 at 12:39pm — 1 Comment

Automotive Sales Training - Are You a Professional Or a Lot Lizard?

Drive up to a dealership and you will most likely see a lot lizard. Their species is easy to spot. They tend to congregate in front of the dealership, smoking, joking, complaining and waiting to wait on someone. Notice I said waiting to wait on. These lizards are a curious species in how they tend to look for prey. The professional is a different breed. The professional tends to not wait on much or for long. The professional has goals, a work plan and is too busy taking action…

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Added by Mark Tewart on February 28, 2013 at 12:30pm — 7 Comments

Action

Two things keep people from being successful: laziness and the lack of leverage. The good news is that neither of these are incurable diseases, but they can be if left untreated. Let’s take a look at both and how to get rid of each one.

 

Leverage creates the tipping point that gets you moving and taking action. Leverage can come from wants, needs, fear, love, hate and other emotional triggers. All leverage points are good if you channel them correctly, even if they…

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Added by Mark Tewart on February 26, 2013 at 2:39pm — No Comments

From the NCM Institute Blog: Auto Dealership F&I Sets the Stage for a Successful 2013 by Rebecca Chernek

If you haven’t already done so, it’s that time to review your 2012 performance in detail. In what areas did you fall short of your goals and why? Where could you have generated greater gains and how? Don’t allow January to slip by without these facts in writing and a discussion of how you can best move forward in 2013.

A common F&I pay plan in the automotive industry is known as the grid. It compensates managers based on their per vehicle retail performance and products sold…

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Added by Garry House on February 1, 2013 at 3:30pm — 1 Comment

Every Dealer, GM and F&I Pro Needs to Read This........

5 Compliance Checkpoints

By Gil Van Over

Let me start by saying that the overuse of tired clichés is one of my pet peeves. I detest them in sportscasts, and I’ve grown a little tired of those clichéd lists magazines put out each year with predictions for the coming year. So, I apologize upfront for the list I’m about to share with you now.

Just so I can live with myself, I’m calling my compilation a checklist. I’ll cover the top…

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Added by Jack Higginbotham on January 27, 2013 at 11:41am — No Comments

NCM Institute wants to know: Is Front Gross $PVR Still a Relevant Metric?

 Is Front Gross $PVR Still a Relevant Metric?

One of our “poster” clients—with super market penetration, great customer retention, strong gross profit production, and excellent net-to-gross retention—doesn’t believe in focusing on front $PVR, at least in his new vehicle department. In fact, his business model is based on $-0- new vehicle “total front gross profit.” But please also understand the following:

  • The New…

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Added by Garry House on November 21, 2012 at 10:00am — 8 Comments

From the NCM Institute Blog: Dealerships Can’t Hide Shady Sales Practices from Snitchers

Today I'm pleased to introduce Rebecca Chernek of Chernek Consulting (CCI) as NCMi’s newest Up To Speed Guest Expert. Rebecca specializes in Finance & Insurance training to Automotive, RV, Powersport and Marine dealers nationwide. With an impressive automotive retail background spanning over 25+ years, Rebecca has hands-on, proven experience in automotive retail including sales, director of finance and general management. She…

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Added by Garry House on November 6, 2012 at 9:29am — 1 Comment

Are You Missing Sales With The Wrong Messaging?

Think Tank Tuesday- Are You Missing Sales With The Wrong Messaging? from Potratz on Vimeo.

Are you missing out on sales because your marketing message is focused only on price points?  If you're only focused on price, you are not connecting with customers who are…

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Added by Paul Potratz on September 5, 2012 at 4:16pm — No Comments

F&I Is Not The Problem- Right On! People Sell Not Gadgets!

           Great article, Greg! I’ve been singing in the same chorus, but it seems that other members are either staying home or remaining silent. Both reasons denote an underlying sense of fear or helplessness or ignorance of the real issues.  It’s hard to change “old ways” but not impossible. Change is good.

            However, too many F&I managers are still being lumped into the same crock of criticism; some deserve to be there, but many more don’t. The dealership…

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Added by Rebecca Chernek on September 4, 2012 at 11:00am — No Comments

Starving for Attention

Starving for Attention

I’m sitting in the manager’s office. He’s got the blinds up and is pointing to the showroom floor.



“That’s him – third desk. Ed. When he started, I thought the guy would be a natural. Young, good-looking, knows the cars, knows finance, friendly, great recommendation… I think I must have spent $10K on getting him trained. But I don’t understand him. He’s making me look bad, like I can’t pick ‘em anymore. The other guys are starting to crack jokes.…

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Added by Rebecca Chernek on August 27, 2012 at 11:43am — No Comments

Entrepreneurs: They Embody the American Dream

Entrepreneurs: They Embody the American Dream

 

The late Peter Drucker once said, “Entrepreneurship is neither a science nor an art. It is a practice.” CCI practices entrepreneurship.

 

Small business owners by the millions are eagerly waiting for the next election to learn how the upcoming years will effect not only their ability to grow and profit, but to continue toward the goals that are infused by their enthusiasm. They want to…

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Added by Rebecca Chernek on August 20, 2012 at 1:15pm — No Comments

From the NCM Institute Blog: When Should You Compare Your KPIs to Best Practice Guidelines?

Last week I attended NCM’s semi-annual meeting of all its divisional directors, 20 Group moderators, Retail Operations consultants, and NCM Institute faculty members, who, along with our CEO set aside two and a half days to dialogue about what’s happening around the industry and within the company, and how best to address the needs of our clients.  As usual, it was a great encounter, with far too much agenda content and discussion for the overall time allotted.

One of the topics that…

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Added by Garry House on July 31, 2012 at 1:23pm — 5 Comments

Do vendors appreciate your business?

I wanted to share a story with you all that happened recently. So many times when working in an industry, we forget to look at the best practices of other industries and how we can apply them to our chosen professions.

 

My wife recently got hooked on blenders and purchased one that, after six months, did not perform to her satisfaction. I was promptly informed that we needed to upgrade. I did not fully understand why we needed to do this and the product she selected…

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Added by Simon Smith on May 3, 2012 at 2:48pm — No Comments

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