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Articles for Commitment - SF
Special Finance: The Tenth Component: Systems —– The Glue that Holds Special Finance Together
Friday, January 25, 2013
Greg Goebel completes his series on the ’10 Critical Component of Special Finance” with a look at the one thing that will make or break a special finance department.
Are You Ready to Make the Commitment?
Wednesday, April 11, 2012
Success in special finance cannot be achieved without total commitment. Special Finance Expert Greg Goebel discusses three areas that can affect a dealer's level of commitment: capital, conflict and fear.
The Re-Emergence of Special Finance
Monday, January 24, 2011
There are dealers who dug in, hung on, expanded and even some who are entering the new era of special finance for the first time. Their perspectives are as varied as their operations, but they all see the potential.
Have You Lost Your Balloons?
Thursday, September 23, 2010
I have written for years about Green and Red Balloons, the metaphor for identifying the creditworthiness of dealership customers. Nothing has changed about the need to identify creditworthiness quickly and effectively when a customer first contacts your dealership, except for the fact that it has become more urgent to do so.
Why Now is the Best Time to Invest in Your Subprime Department
Wednesday, July 28, 2010
Brandon-David Dorta - With 40 percent of Americans qualifying as having poor credit, how can you as a dealer afford not to invest in your dealership’s subprime department? Having been in the business since 2003, I have seen the best of times and I have seen the worst of times, and now is the time to invest in your subprime department because we are on the verge of a best-of-times scenario.
Identify Your Existing Special Finance Opportunity
Thursday, March 11, 2010
It is a new year, and many dealers have finished their annual planning and are prepared for a continued upswing in business for the coming year, that includes for some dealers a refocus on their special finance efforts.
Comparing the Capital Commitment of Special Finance and Buy Here Pay Here Dealers
Wednesday, January 27, 2010
Whether you are looking at building up a special finance or buy here pay here department, both are going to require strong commitment, and certainly a large part of that commitment is capital. So what are the capital commitments for each on similar volume levels?
Commitment in Two Steps
Wednesday, January 20, 2010
Commitment is hard! The principles are simple, yet we struggle with it every day. It comes with a firm responsibility to carry out the action that you have obligated yourself to do.
Commitment - Be the One in the Arena
Wednesday, January 06, 2010
Commitment, as defined by Webster, is “an act of obligation.” It is not an act of “maybe.” If special finance was the way to go during boom times, it is still the way to go during tough times.
Will Your Special Finance Department Need Life Support?
Monday, December 21, 2009
Your special finance department may not be as important as your personal health, but to many dealerships, it is essential to the overall health of the business. In many cases, without the gross profit generated by the special finance department, the bottom line would be very red.
Necessary Changes in Special Finance
Thursday, December 03, 2009
As the end of 2009 approaches and dealers look toward 2010, it seems like a good time to take stock of the past year and look at how those in the field of special finance have adjusted their operations to stay in the game
Historic Times See Shift in Special Finance Benchmarks
Monday, October 19, 2009
The past 18 months have proven to be historic times in the automobile industry, and that certainly holds true for the special finance segment of the market. The three “Cs” – capital, collections and collateral – all experienced significant if not total deterioration during some or all of the past year.
Six Essential Principles to Operating a Profitable Special Finance Department
Thursday, September 17, 2009
Have you ever wondered how on any given day a sports team with much less talent can beat a team that is far superior to them on paper? Usually, it’s because the members of that team completely trust each other to do their job, so they play together as a team, not as individuals.
Six Essential Principles to Operating a Profitable Finance Department
Friday, May 15, 2009
Brett Boatright - Is your dealership really 100-percent committed to being in the special finance business? This is the first question we ask dealers and upper management teams before we agree to consult with a dealership.
Get Back to the Car Business
Sunday, March 01, 2009
Brett Boatright - In the ever-changing economic landscape, many car dealers are looking for a quick, easy way to get back to the business they had just a few short years ago.
Five Key Strategies for Improving Your Sales, Profits, and Performance
Thursday, January 01, 2009
Tom Herald - “The Nation has entered the most severe recession since the Great Depression;” “Investors are running scared from stocks … waiting for the bloodbath to end;” “The tightening of the money supply has resulted in sky high interest rates (20 percent) and 11 percent unemployment.” Sound familiar? Well, that was then, not now.
Who Moved the Cheese?
Monday, December 01, 2008
Tom Herald - "Change is the law of life and those who look only to the past or present are certain to miss the future." – John F. Kennedy
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