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Dealers Reveal Secrets to Survival

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Finance Company Insight
Mid-Atlantic Finance Company (MAF) is a company ready to leverage its 21 years in the industry to help BHPH dealers make the most of their portfolios, whether that means account servicing, portfolio acquisitions or even the purchase of GPS devices.
Late 2008 and early 2009 brought news of finance companies tightening their guidelines and shrinking originations, and with NADA values not keeping up with market values, landing profitable special finance deals has been a challenge for many dealers.
Department Spotlight
Over the last year or so, many dealerships have dialed back their special finance operations or given up on them altogether, but not Planet Ford, a World Class Automotive Organization (WCAO) dealership in Spring, Texas.
In Beaumont, Texas, more than eight years in the trenches coupled with smart decision-making has kept special finance at Kinsel Ford Lincoln Mercury Mazda alive and well. Much of the dealership’s success is a result of the special finance department’s strong foundation.
Today's Features
Déjà vu, all over again. At least once a year, good times or bad, the discussion arises concerning what is the ideal inventory for special finance. I’ve been doing this for more than 20 years, and the answer is always the same: “Sell financing, not inventory.”
Here’s some free advice for folks who earn their bread in F&I. Choose your words carefully—very carefully. You may have picked up your sales spiel from the best trainer in the world or the most successful finance guy in your 20 group, but none of that will matter if your customer walks out of the box with a mixed-up idea of what role the dealership plays in the transaction.
Recent News
Chase has named Phil Gouran as manager of its Custom Auto Finance Center at 2220 Douglas Blvd., Roseville, Calif. Gouran has nearly a decade of experience in auto finance, most recently managing relationships with Los Angeles area auto dealers for Chase.
 
Behind the Scenes
What makes Trigger Complete(SM) leads different from other trigger leads, Parker said, is the additional steps DealerLink has taken to remove the burden of compliance from dealers’ shoulders and make the entire process more worry-free.
Getting deals financed over the past 18 months has been tougher than ever due to much tighter lending restrictions of finance companies across the country.


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