Articles by Jennifer Murphy - Assistant Editor

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.

The 2009 Special Finance Convention, held in Dallas, Texas, August 9 to 11, 2009, for the first time included breakout sessions on dealer controlled finance (buy here pay here, lease here pay here and rent to own). The highlight of these sessions was the dealer expert panel discussion featuring three dealers of varying scopes of operation.

Dealers who took the opportunity to attend the 2009 Special Finance Convention from August 9th to 11th in Dallas, Texas, came to the show with open minds and ears. They wanted to hear what people from all sides of the industry – finance company representatives, trainers, vendors and other dealers – had to say.

A topic that polarizes industry professionals still today. While some dealers are pulling out of the SF arena, several dealers think now is the opportune time to build a special finance department because they believe the future of SF is bright.

For more then 30 years, Willard “Bill” Davis has maintained two successful pre-owned operations on sound business practices. Davis’ roots in the automotive industry run deep. His career started on his brother’s used Jeep lot, where he worked for 13 years before beginning an 18-year career with Hertz.

It’s no secret; dealer-generated leads close better than purchased, third-party leads. Not only can third-party leads get expensive, but some in the industry are saying third-party leads aren’t what they used to be.

“When they first started talking about this recession, I announced to my team, ‘There’s all this talk about a recession. I’m not participating. If you’re participating, you’re in the wrong room,’” said Jim Shorkey, dealer principal of Courtesy Suzuki and Jim Shorkey Kia in North Huntingdon, Pa.

For dealers today, subprime auto financing can certainly feel like an uphill battle. Many dealerships that are successful in special finance today are fighting for the small victories

At an elementary level, dealers have Web sites to generate business, but to get the most out of the Web, dealers need much more than an elementary-level Internet strategy—especially if they expect their Web site to drive quality traffic.

“[Tim] knows his bank programs in and out. Work ethic – I’ve never seen a guy have the work ethic that he does. He’ll be here first thing in the morning and he’s the last guy to leave six, seven days a week. Customers love him. No complaints. His repeat and referral base is unbelievable.” – Curt Bush, General Manager, Bill Pierre Dodge