July 2009 Special Finance Superstar

Sean Rattigan

Describe your duties as SF manager. What’s an average day like for you?
We have the Suzuki store and Kia … I work with everyone that has issues with their credit … I set them up, figure out what we could do with the financing … and then kind of apply the car to that. I try to manage my time while I’m here the best that I can. I structure out different blocks of the day. I set maybe an hour aside for funding. I block out time to make phone calls where I can’t be interrupted. I block out time for deals that we’re close on and just focus on getting them done … a lot of time is spent on that. I’m a one-man show as far as that stuff goes. I do have people that help call, but as far as the paperwork and funding, that’s all my responsibility.

“Sean does a great job. HIs paperwork is really clean ... and his funding is great. We have leared so much about special finance in terms of how to run it the right way and he's a bit part of that."– Jim Shorkey, Dealer Principal, Jim Shorkey Kia and Courtesy Suzuki Sean Rattigan Special Finance Manager 11 Years Dealership Experience 10 Years in Special Finance Dealership Stats: Jim Shorkey Kia/Courtesy Suzuki North Huntingdon, PA Average SF Deals per Month: 20-25 SF Average Days to Fund: 5-7 SF Sales to SF Leads: 10-15% SF Sales to Total Sales: 10%

How do you keep things running smoothly with your finance sources?
I talk to them all daily … and a lot of relationships I have just built over the years because I’ve been here for a while. I send them things that I think that they should be buying; I don’t send stuff just to send it … I don’t shotgun. I like to send things that make sense. You’ve got to know your banks. You’re not going to send CitiFinancial a 400 score; they just don’t buy that stuff … so why would I waste my time or theirs? Clean paperwork is another key; you want to get everything you need submitted so that you can get your money quickly.

What is the biggest challenge for you department right now?
It’s just adjusting, I think. The whole market has shifted. As everybody knows, they’re not buying the 550 scores at 15 or 18 percent anymore; those days are over … We are a very positive dealership, so we’re going to focus on the [people] that are buying the cars.

What are you doing to drive traffic for the SF department?
We have a pretty serious advertising budget just generally for the dealership. I’m actually really not doing anything specifically for special financing … I have a lot of repeat and referral business, though, and I really believe in tha,t so I send out birthday cards, thank you cards and I send out letters to my database … so we get a lot of business that way. Referrals are huge.

What do you see as the key to the success of the department?
I would say the first thing is just treating people the right way. Some dealerships are so harsh to people that have issues with their credit. They don’t want to talk to them … or [are] just downright mean to them, and it’s not right … I hear that a lot more, especially now … it really doesn’t have to be that way. The guy’s trying to get a car and he had some rough times … so I just treat everybody the right way. I think that’s number one … building relationships, working your database, asking for referrals … You’ve got to know your banks for sure, that’s key, and clean paperwork equals fast funding.

What do you see coming in the future for special finance?
Wow, I don’t know. That’s kind of the scary part. We’re going through some crazy times right now … It is serious, serious business and … I don’t think anybody knows what to expect or what’s going to happen. We’ve kind of just got to get through it.

Totally random question: If you had no responsibilities right now and could go anywhere and do anything, what would it be?
I’m a pretty simple guy … I am really big into my family. I have a four-year-old and a two-year-old and I really love spending time with them, so I would definitely like to spend the day [with them] … Take them to the beach, hang out, build some sand castles, play in the water. You know, have fun.

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Vol. 3, Issue 4