Articles for Commitment - SF
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.
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.
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.
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.
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?
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.
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.
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.
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
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.
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.
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.
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.
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.
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