Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 72.7% approval rate in December.  The approval rate is significant considering approval ratings hit a low of 63.8% in April, the lowest rate reported since January of 2018.

With the holiday season being an optimal time to buy or lease a vehicle, it is no surprise that approval ratings saw an increase in December. According to Experian’s…

Okay, friends! Now we’re really getting somewhere. So far in our video series, Be Aware of Your Business, we’ve been walking you through your past. You’ve been gaining awareness in who you are, in your process, and in what your customers want. And now, we’re going to begin to make that shift.

Let’s talk about your community. You…

                Are you familiar with a VBDC? A Virtual BDC is designed to take some of the work load off the dealership. The program is designed to offer help by taking the initial inbound call for you. Staff is highly trained to handle the calls accurately 100% of the time. The purpose is not to to change the process that the dealership already has in place, but to improve it. A Virtual BDC does not “replace” your in-house BDC.

               Having a Virtual BDC handle the incoming…

Kenwood Dealer Group is 15 dealerships in the Cincinnati, Ohio market. Dan Kommeth joined in early 2020 to fill a newly created position, Group Sales Director, assigned to strengthen the stores’ competitive advantage.

Convinced that positive customer experiences begin well before a lead or walk-in arrives, Kommeth started his new assignment by investigating processes that flow into profitable car sales.…

A glance into any dealership accounting office reveals a lot of paper. That’s because selling cars creates a LOT of paperwork. Although a “paperless” office may be the holy grail, we’re not there yet.

States require certain paperwork, and they insist you keep it. Retention periods vary by state, but the result is paper deal jackets crammed into filing cabinets, stored in piles of teetering cardboard boxes in unlocked offices, or jammed into storage facilities.…

Customer retention can be tough. Independent repair shops lure customers away in droves with coupons or offers that promise low routine maintenance pricing. However, winning consumers on price alone is a short-term victory compared to winning over their loyalty for the long haul with quality work, certified technicians, and impeccable service. Luring them…

Last week, in our video series Be Aware of Your Business, I told you a little about an experience I once had at a restaurant called Casa Manana. Had it not been for the manager, who…

If you want to build your dream van, you should start looking for the best conversion companies. A lot of people prefer to build the van themselves but it involves several risk factors. So, it is better to play safe and choose a company that knows how to turn your dream into reality. Luckily, there are so many conversion companies out there, however, you should pick the one that understands your needs and preferences.

Here are 5 best van conversion companies that can build your dream…

If you require towing services in Florida then where will you go? You can visit the business website of Adam Towing and Recovery and avail their first-class towing services at affordable costs. The business offers to its customers a range of towing services including Flatbed truck towing in Orlando, accident recovery towing, light-duty towing, medium duty towing, low profile sports car towing, construction equipment towing, long-distance towing, marine towing, motorcycle…

AS AN EXECUTIVE MANAGER, WHAT DO I EXPECT OF MY TEAM?

My concepts include management is every manager's job description. Every manager is a specialist with a specific area of responsibility BUT anytime something needs to be handled, it is YOUR responsibility.…

The New Year is shaping up to be a good one for dealers. According to a report by the Economist, new car sales will be up by 15 percent in 2021.

I think we’re all happy to have 2020 in the rearview mirror. Now it’s time to refuel, refine and ride into stellar sales numbers. Get every department in your dealership in tip-top shape and drive into profitability with the following…

According to Stanford economist Nicholas Bloom, the “working-from-home” economy is likely to exist far beyond the pandemic. Employers are enjoying decreased expense in office space and increased employee productivity, while employees have more freedom with the luxury of no…

In this podcast, former parts and collision center manager Anthony Greenhalgh offers a host of recommendations to help dealerships improve their workflow processes involving parts and collision work.

Parts and Collision Tips…

In this video, Gordy Peterson, inventory manager for Luther Hopkins Honda talks about how new vendor management tools help the dealership improve reconditioning efficiency to get vehicles to the frontline faster while tightening up the communication and relationships with their vendors.

Making a list and checking it twice is one of Santa’s best known practices. It’s worth emulating when trying to manage a lot of information. Like your list of vendor partners.

The average dealership has around ten vendor partners. Large groups can have hundreds. Whatever the length of your list, proper management helps you weed out the naughty (costing you money) from the nice (making you money).  

 …

If you’re like most independent dealers, you loaded up on used inventory  during the first few months of the pandemic. Inventory shortages and high demand pointed toward selling those cars all day long at higher-than-average prices. Now that the market is beginning to correct, book values are dropping. Are you concerned about moving that inventory?

A…

 Southern California Credit Union expands leasing opportunities in the region

San Diego, CA – December 16, 2020 – Credit Union Leasing of America (CULA), the leader in indirect vehicle leasing for credit unions for over 30 years, has joined forces with SCE Federal Credit Union to offer SCE FCU members access to vehicle leasing. 

SCE Federal Credit Union, which was…

Wantalease.com, the nation’s first online car lease marketplace for new lease deals, reports the latest update on new lease offerings entering the month of December.  While most automotive brand payments remained steady, many SUV and pickup models saw payment increases. 

Among the most notable are the Ford Ranger, with a +14.86% increase from…

2020 is on track to surpass 2015’s record transaction levels; mega dealer transactions on the rise, dealership earnings spike blue sky values, Toyota is most valuable non-luxury franchise, according to Third Quarter 2020 Blue Sky Report^® by Kerrigan Advisors

Irvine, CA – December 14, 2020 – After rebounding dramatically in the second quarter of 2020, the auto…

One thing that the holidays usually bring is travel. Families want to celebrate the holidays with loved ones and, this year, even during the COVID-19 pandemic, traveling is still happening. The difference right now is that a LOT more people are choosing to drive rather than fly,…