Mr. / Mrs. Dealer, remember when you were the green pea in this wonderful business? When I first started selling cars, my sales manager was a retired British officer. "Dot your I's and cross your bloody T's", Jack would bellow. He knew Colonel Muammar Gaddafi, the Libyan dictator, when he was a Lieutenant (Pronounced Left-tenant). He told me the story of Gaddafi demanding air conditioning units installed in their barracks in the otherwise holes in the walls. So, the British Army…Continue
Added by Tim Byrd on June 22, 2016 at 3:56pm — No Comments
How to perform in the Top 1%
I was talking with the woman I love yesterday. She loves me, yet, when talking about car salesmen, she is convinced their primary mission is to find a sucker. WHAT?? Those are…Continue
The Judge sits to decide, which is it? Was the car sold AS IS or as the salesman said, "We go over every car with a fine tooth comb, believe me if you have a problem we'll take care of that."
I meet with dealers all the time who tell me they…Continue
Added by Tim Byrd on December 9, 2013 at 9:56pm — No Comments
In an article dated May 15th, 2013, Automotive News announced that IRS changes could ensnare dealers who reinsure. (See full article …Continue
Added by Tim Byrd on May 16, 2013 at 11:42am — No Comments
What an exciting time for the automotive business. Our new book “Unfair Advantage; The World’s Leading Automotive Retail Experts Reveal Their Secrets to Give You the Upper Hand to Grow Your Business and Rev Up Your Profits TODAY!” is coming out this week, Thursday, September 13th.
Added by Tim Byrd on September 11, 2012 at 1:31pm — No Comments
"You Don't Sell Someone Else's Cars, Why Sell Someone Else's Warranties?"
I have been in the car business for over 25 years. Going from dealership to dealership I have seen the good, the bad and the apathetic. There are car dealers who are on top of their game, always striving to improve.…Continue
Added by Tim Byrd on February 21, 2012 at 6:27pm — No Comments
Every day in Buy Here Pay Here, New and Pre-owned operations there are universal problems which all dealer’s face. Mainly vehicles breakdown and customers don't have the money for repairs. Which equals upset customers and repossessed vehicles. So, you better have a plan. The options which I see most dealers choose include:
Buying a third party warranty or service contract to sell the customer? This has its own problems. Laying out that upfront cash, for a BHPH dealer, can…Continue
Added by Tim Byrd on February 20, 2012 at 6:30am — No Comments
Does your warranty guy love you? I think I know why!
Yesterday, I met with a dealer who said and I quote, "I figured up that I have sent (current warranty company) $1,000,000 in the last 5 years." and your claims I asked? "Around $50k per year". Is this YOU? Did you give your 3rd party warranty company a $750,000 profit? There is a better way!
You can set up a Dealer Owned Reinsurance Company.
By setting up your own…Continue
Added by Tim Byrd on January 26, 2012 at 1:34pm — No Comments
There are many retirement vehicles available in the market today, 401K’s,
IRA’s, Roth IRA’s, Social Security. I looked them up and they are all boring,
limited and restrictive. So, what’s a dealer to do? Real Estate, Stock Market?
Both are unpredictable and use already taxed dollars.
What if you could take something you are already doing, tweak it and turn
into the best retirement program out there?
First let’s get something…Continue
Added by Tim Byrd on September 22, 2011 at 8:23pm — No Comments