As car dealer principals look to transition away from operating a non-controlled foreign corporation (NCFC) due to the unknown outcome of the new tax law, many have set their sights on becoming a dealer-owned warranty company (DOWC). As part of this, dealers have been asking about the specifics behind the DOWC structure, and what a transition would look like.

The Federal Tax Cuts and Jobs Act (TCJA) was signed into law by President Trump in December 2017 and is effective for the 2018…

Most people initially struggle in sales because they’ve been taking orders their whole life. When you were young, you did what your parents told you to do. Sure, you may have bucked up a time or hundred, but immediately you’d back down from rebelling once they slapped you back with one of those, “When you have your own damn place and pay your own damn bills, then you can do whatever the hell you want to do…but until then, you better do what the hell I tell…

This week, Jeff walks you through Part 2 of how to make 2019 your best year yet! You must evaluate where you are, how many customers you see per day, and if the things holding you back are reasons or excuses. Stay tuned to hear the simple tips to service drive success! Copyright 2018 Wm Jeff Cowan

Website: automotiveservicetraining.com

Click HERE to watch!…

Auto Dealers Increase Service Leads Over 200% With Mobile Text Coupons

PACIFIC PALISADES, Calf., December 20, 2018 -- In response to the rapidly growing number of consumers currently using the internet via mobile devices, fusionZONE Automotive, LLC., today announced a new tool for auto dealers, Mobile Text Coupons. With Mobile Text Coupons, customers no longer have to use their desktop…

Lease Approval Ratings Drop Slightly in November Following Slight Increase in October

Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 68.9% approval rate in November, a slight drop from the October rate of 70.9%.

The number of lease approvals is slightly higher than last year for the month of November, as 67.5% of lease applicants were approved in 2017, and 64.7% were approved in November of 2016.

The…

This has been an incredible year in many ways for our family. It has also been one of the most challenging as I nearly drowned in Lake Erie. I haven’t shared that experience with many folks however, today sharing some lessons learned might be valuable.

My first lesson was the importance of wearing a life…

Why Shop Here? Your Culture Matters.

When thinking about business operations, it’s common to examine sales strategies, customer service procedures, and customer experience. Less common is a review of dealership culture, which is the cornerstone that drives your operations and provides consistency. Business culture is the collection of beliefs, values, and practices that are more esoteric and usually…

When a customer leaves the lot without purchasing a vehicle, there's a good chance he or she will never be back. A few may return, but most won't. Does that mean you should never follow up with customers? Obviously not!

The follow-up call is critical and can absolutely save a deal. Even if only one out of ten customers comes back to the store and buys from you, it's worth your time.…

Welcome to this week's edition of Black Book Market Insights, with in-depth analysis of used car and truck valuation trends and insights straight from the auction lanes. Click here to download the full…

It’s a well-known fact that people buy from people (or companies) they like. There are certainly many different ways to get customers to like your dealership, from providing a great customer experience to being active in your local community.

However, consumers are increasingly finicky when choosing where to buy or service their vehicle. In…

Microsoft has released Office 2019, the newest version of its desktop suite of applications that most dealership employees use on a daily basis; including Word, Excel, PowerPoint and Outlook for email. Prior versions of Office that your dealership might still be using are Office 2016, Office 2013 and Office 2010. Please don't tell me you're still using Office 2007.

If you're thinking about upgrading to Office 2019, I encourage you to look at another option. If you haven't…

A Number of Compact Cars and Sedans See Increased Discounts to New Leases as End Of Year Closes

Wantalease.com, the nation’s first online car lease marketplace for new lease deals, reports the latest update on new lease offerings for the month of December.  Several automotive brands offered…

Equifax has new insight as we close out 2018 on the topic of affordability, with data that show where affordability is becoming more of a potential issue. According to Equifax, the average lease balance financed has increased just +5.5% from January 2016 to November 2018. Conversely, the average loan balance financed during the same period has increased +24.2%.…

91% of service customers defect once they are out of warranty, and those are a dealership’s most profitable customers. What can your dealership do to help retain these valuable customers?

Tire sales can easily distinguish your dealership from its competition and decrease defection, but only if they are promoted and sold differently than how…

This may seem like a silly question, but it is actually a necessary one. In fact, there are a number of situations in which an individual, even without owning a vehicle, may be required to, or at least benefit from, having an auto-insurance policy.

Of course, most of you are probably wondering if that is even possible. Surprisingly, the answer is yes: you can get car insurance without a vehicle. This is known as “Non-Owner Auto…

So You Think You Could Sell Cars? 

Did you ever wonder if you would be good at selling cars in today's market?

Does the sales applicant in front you have the traits needed to succeed in Sales at your dealership ?

Why do some Sales Consultant's succeed when others…

-by Sally Whitesell for AutoSuccess Magazine

Is your top performer good enough to set the standard for your entire department? If everyone settles for reaching that advisor’s performance level, will your store truly be great?

If having all of your advisors step up to your top performer's level is your…

When we are no longer able to change a situation, we are challenged to change ourselves – Viktor Frankl

The news is full of major disruptors; if you follow the headlines you might think that a world filled with autonomous vehicles is imminent (it isn't), or that new owner and retail models will soon put dealers out of business (they…

Owning a business is a perfect path to increase personal wealth. If you have an interest in automobiles, have worked as a mechanic before – starting your own auto repair shop is the best option to start a business on your own. So, now you can decide on your working hours, can specialize in your favorite vehicles, decide over the pricing with your customers and take full control of your career in the future. Now, your profits will…