• Determine what your aging policy is going to be, then stick with it!
• Aging policy has to be “pure”. In other words, if your aging policy is 60 days, then a vehicle must be off the books in 60 days, as opposed to, "Well, its 60 days so let’s determine what we will do with it".
• The best approach to aging is to review your…

If you have an old car just taking up space in your driveway, it may be time to consider cash for junk cars. Several companies will pay you money for your scrap car, and the process is surprisingly easy. In this blog post, we will discuss the process of selling your scrap car and how to get the most money for it. We will also provide a list of companies that offer cash for junk cars. So, if you are ready to sell your old car, read on!…

A recent news story, published by Reuters, shares how Mexico is moving to allow unregistered used cars brought into Mexico illegally to be registered for a whopping $124. According to the article, Baja, California has as…

Rapid Recon, the leader in delivering transparency and accountability technologies for modern auto dealerships, launched today …

In the last month or so, several automotive manufacturers have announced production cuts. One would think that is perhaps counterintuitive in the sense that, with a market severely lacking new vehicles, shouldn’t OEMs ramp up production rather than decrease it?

According to the…

What consumer doesn’t love the internet? It has been especially transformative for the automotive industry. Not only can shoppers compare vehicles, options, pricing, and availability with a click of the mouse, but they can also purchase the vehicle and have it delivered to their driveway.

The market disruption is in full swing, evident in the…

During the pandemic, we’ve seen a dramatic decrease in the number of cars on the road as working from home has become commonplace. In fact, according to several sources, working from home may be here to stay. It decreases company expenses and, some researchers say, employees are actually more productive.

However, while driving dramatically…

We’re not alone when it comes to a labor shortage. Data released in July by the US Bureau of Labor Statistics indicates job openings hit a record high in May. The increase largely reflects more vacant positions in the healthcare, education, accommodation, and food services sectors. But few industries have been as directly affected and had revenues hit as much…

The report below first appeared yesterday on LinkedIn as a market update report posted by Rapid Recon, from an interview with preowned performance improvement consultant Ed French to address midsummer market perspectives. Ed is president and principal consultant of AutoProfit, and he is also a member of the Board of Directors for used car retailers TruWorth Auto in the Indianapolis, Indiana, area.   

The market's adjusting, for reasons of affordability, which…

Today’s consumers demand, and deserve, a fast and modern (digital) way to buy cars. Our industry has taken great strides to get there, but we still have a way to go. Especially when it comes to F&I.

The F&I process sucks time. It’s unlikely that buying a car will ever be as quick as picking up a few things at Target, but it doesn’t…

Hello again, my friends! We’re so happy to have you on this journey we’re calling Ali Reda’s Road to Sales Success. We’ve been learning all about how to get to that next level - YOUR next level……

An insightful article in Forbes details the rise – and expected fall – for used car values. Interestingly enough, the article chose the wording for the headline to include “crash” and “brace for impact.” There…

As used car sales continue to climb, legislators are now more cognizant of and are focusing on how dealerships are selling pre-owned inventory without first getting safety recalls repaired.

As I covered in my previous blog, a bill is currently being put forth to…

Over the last year, any business that remained open did everything possible to reassure customers their premises were safe and followed the latest CDC COVID guidelines. Social distancing, masks, and disinfecting surfaces for customers have become standard practices and, in some cases, are mandated by states. These measures require extra work and extend…

Listen to an informative podcast with used car dealer and consultant Ed French and the role that efficient vehicle reconditioning should play to help dealers meet demand. 

Turbulent Times with Preowned…

Today's vehicles have more technology than ever before. With OEMs on a mission to make more EVs; Apple entering the retail automotive space; Tesla continuing its brand popularity; and vehicles more operated by computer than by motor, problems are sure to arise!.

Technicians are already in short supply. Dealers are doing everything that they…

When handling objections in car sales, it’s important to understand the reasoning for objections, and show empathy and agreement for a buyer’s position. Not only have they been raised to be wary of the car buying process, but this is also a huge purchase for them – perhaps the largest they’ve ever made. As such, objection handling needs to be approached with understand and a good attitude.

Moreover,…

If you’re like most independent dealers, you loaded up on used inventory  during the first few months of the pandemic. Inventory shortages and high demand pointed toward selling those cars all day long at higher-than-average prices. Now that the market is beginning to correct, book values are dropping. Are you concerned about moving that inventory?

A…

As hard as we try to increase recall completions, there always seems to be a bump in the road. We may soon be in for a pretty big one from the used-car market and there are plenty of signs pointing to this having a major effect on both dealerships and consumers.

According to a recent article in…

Search Engine Optimisation is the process of optimizing web pages so that it can be found on the top of Google’s search engine results pages. It is also referred to as SEO.

It’s a company's desire to make sure it shows up in the search results when its customers search for certain terms. Many websites for car dealerships have their website…