Auto Loan Originations Observations through April 2018 reported as of June 2018:

• 7.96 million auto loans, totaling $179.7 billion, have been originated year-to-date. This is a 0.3% increase in accounts and a 2.7% increase in balances over this time last year. Auto loans represent 85.8% of all auto account originations and 89.4% of auto origination balances YTD.
• 1.841 million auto loans have been originated YTD to consumers with a VantageScore® 3.0…

Continued Strength & Demand for Used Vehicles Drives Additional Increases in the Market

Black Book, a division of Hearst that provides industry-leading used vehicle valuation and residual value forecast solutions, released its Used Vehicle Retention Index for August showing that it increased +0.5% during July registering 113.9 and up from 113.3 in June. The Index has changed +0.7% over the last twelve months (113.0).…

Bulletins, TSB’s, LSC, TJ, whatever they want to call them, have the same requirements as a normal warranty. We have seen so many different and creative technician comments when it comes to technical bulletins.

Here is an example:

Customer states- "Noise from left front of vehicle".

First of all, this really doesn’t give your tech any helpful information from the customer on how…

What do customers expect during the vehicle purchase process? What do they value most? In a survey included in the AutoLoop 2017 Digital Experience Study, we discovered valuable insights to these questions and more – insights that can give your dealership the competitive edge when customers start shopping. Read on to grasp a better understanding of what customers want, and…

University students are leasing short-term vehicles to meet their transportation needs for college

With hefty tuition prices rising each and every year, college students and their parents brace themselves for college expenses. Outstanding Federal loan debt has reached almost 1.4 trillion dollars, the…

If used excessively, car is at the risk of being damaged. Therefore, it is very necessary to maintain your vehicle in order to avoid any damage. The moving parts of the vehicle needs to be lubricated from time to time for the maintenance.

1. Enhances the lubrication of engine

The hood car is made up of several moving parts…

Most dealers know how many cars they sell on a weekly, monthly and annual basis. But if I asked you how many new customers you acquired this year, would you know the answer?

On the service side, you probably know how many ROs were closed last month and how much revenue was generated, but do you know how many new service customers you acquired? How many of…

It’s no secret that transaction time is increasingly important to consumers when purchasing a vehicle. And, by the time they arrive on the lot they have already spent countless hours trying to not only figure out what vehicle they are interested in, but where they may want to buy that vehicle.

So, at the point when a customer then arrives on the lot, customer…

The benefits of having a mobile check-in and MPI process in the service department have been widely confirmed. You’ve probably heard all about the three “T’s;” specifically transparency, timing and trust.  

However, one of the biggest unsung benefits is…

This week, Jeff finishes the last part of a series and discusses how to properly train your advisors so they're ready for the drive. You've introduced the contract, you've provided interim training, now it's time to implement. It's not the easiest or quickest step, but it will provide success and stability for your next long-term hire. Copyright 2018 Wm Jeff Cowan

Website: AutomotiveServiceTraining.com

Click…

$10 from every copy of ‘Assumptive Selling’ sold on Amazon in August 2018 goes straight to help Bryan & Tamarra Armstrong

 ...

Tamarra Armstrong, wife of the consummate Car Guy, Bryan, suffers from a very rare disease known as Superior Mesenteric Artery Syndrome (SMAS). Because this is a disease that affects fewer than 3 in every 1,000 people, the treatment options are limited; and all are very expensive.

“Bryan and Tamarra have always been supportive of anyone in…

$10 from every copy of ‘Assumptive Selling’ sold on Amazon in August 2018 goes straight to help Bryan & Tamarra Armstrong

 ...

Tamarra Armstrong, wife of the consummate Car Guy, Bryan, suffers from a very rare disease known as Superior Mesenteric Artery Syndrome (SMAS). Because this is a disease that affects fewer than 3 in every 1,000 people, the treatment options are limited; and all are very expensive.

“Bryan and Tamarra have always been supportive of anyone in…

Welcome to this week's edition of Black Book Market Insights, with in-depth analysis of used car and truck valuation trends and insights straight from the auction lanes. Click here to download the full…

This week, Jeff finishes a two-part podcast on how to make a good impression! This is one of the most important interactions in any sale, whether it's over the phone or in person. You only have one chance to make a first impression, so follow these 8 steps to make sure it's your absolute best! Copyright 2018 Wm Jeff Cowan

Website: TheJeffCowan.com

Click HERE to watch!…

Most of us in the automotive community are painfully aware that our nation is in the middle of a recall epidemic -- and will be for decades to come.  A low percentage of recall repair compliance pushes the numbers of vehicles on the road with open recalls ever higher, with no relief in sight.

The reality is that recalls are like the black plague for vehicles…

Have any of you had success with QR Codes? By some reports they are making a comeback. But, on the other side of the coin, on an episode of Shark Tank late last year, renowned venture investor Chris Sacca commented that QR codes are “the herpes of mobile technology.”

Yes, pretty harsh,…

I recently read an interesting article in Forbes about cause-based marketing which states that  55 percent of consumers would switch brands and/or pay more for a product or service to a company that…

Do you dream about having a new, redesigned SUV but you cannot afford it? Do you want to enjoy the tech upgrades associated with a modern vehicle but you cannot break the emotional connection built over the years with your decades-old junk car? Have you recently bought a used car but you do not want others to think that you are a money grubber? If the answer to at least one of the questions mentioned above is “yes”, then you should know that it is more than possible to give your old car a…

When it comes to stress management, experts suggest a lot of things from yoga to exercises, even medications and hypnosis. Truly, there are a lot stress management activities, but they work different for every person. I, like a former recruiter in the linkedin…

Not All Discontinued Vehicles Depreciation Alike

Black Book, a division of Hearst that provides industry-leading used vehicle valuation and residual value forecast solutions, made available today a new analytics-driven report that looks at why certain vehicle models were discontinued over the last several years, and how they’ve retained their values since discontinuation. Click here…