Auto Loan Originations Observations through March 2018 reported as of May 2018:

• 5.82 million auto loans, totaling $130.6 billion, have been originated year-to-date. This is a 2.0% decrease in accounts and a 0.1% decline in balances from this time last year.
• Auto loans represent 87.2% of all auto account originations and 90.3% of auto origination balances YTD.
• 1.37 million auto loans have been originated YTD to consumers with a VantageScore® 3.0 credit score…

Every successful business needs customer feedback to gauge how they are doing. Customer loyalty, experience and retention can’t be modified without hearing what your customers think. Dealerships rely on such things as manufacturer surveys and online reviews to get an idea of how well they are doing. Some will even go a step further and email their own survey, or have their…

Women make a full 45% of new consumer car purchases—that’s no small market. And when it comes to making these purchases, this market tends to consider much more than just cost. Price is definitely a component of their decisions, but emotional factors such as trust of the sales consultant and dealership are much higher on the priority scale. So while providing fast service and keeping up to date tech-wise are important, you need to adopt measures to ensure your female customers and guests…

The decision to switch to a new CRM is not one to be taken lightly. On a daily basis, your sales team relies on your CRM for new leads and opportunities, to remind them what needs to be done, guide them through car deals and keep them on track to meet business goals.

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It’s probably not news to you that, while customers like having new cars, many dislike the dealership experience. And, that dislike often immediately begins from the first moment they arrive and are basically accosted by 10 salespeople approaching their vehicle as they pull onto the lot – yes, that’s mostly an exaggeration, but you get my point.

Here’s the…

Secondary Marketplace Activity Picks Up With Shoppers Looking to Avoid Dealer Down Payments

 Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 68.4% approval rate entering July, relatively unchanged but up slightly from the 67.9% mark registered in May.

Even though lease origination activity at dealerships has been down slightly in 2018, lease takeover activity has remained healthy,…

As there are several different departments in dealerships, each with their own goals and targets, it is quite common for inter-departmental fighting to occur – a woe of many a manger. This happens because each department attempts to preserve revenue within their own department – other departments be darned!

For example, the used car manager will complain…

For Philadelphia, Louisville, Long Island & Northern New Jersey auto dealers, creating on-the-lot merchandising materials is now a breeze

Saint Petersburg, FL July 9, 2018 – LotMonkey, a strategic in-dealership merchandising solution for independents, franchised car dealers, dealer groups and OEMS, today announced expansion into several new markets…

I wear a Fitbit tracking device that monitors how many steps I take during the day. One of the features in the Fitbit is when I’m sitting for a while it buzzes to encourage me to take so many steps to meet my goal for the hour. Wouldn’t it be nice if we had a similar product that monitored what we are accomplishing in our jobs? Words cannot express what…

Some skeptics lament the decline in the use of social media platforms. Perhaps because they’ve become jaded due to all the arguments and political rhetoric constantly popping up in news feeds. Well, don’t for a second believe these pessimists!

Social media is not only growing, it’s becoming more popular than ever. For example, Facebook-owned social media…

Monthly Index Increased +0.3% During June

Black Book, a division of Hearst that provides industry-leading used vehicle valuation and residual value forecast solutions, released its Used Vehicle Retention Index for May showing that it increased 0.4% during June registering 113.3 and up…

As time goes by, digital marketing is increasingly integrated into car dealerships’ ad budgets. Because of that, many options have developed which allow dealerships to create exposure and deliver ads in a more direct and targeted way -- more than was ever possible with traditional media.

Even some forms of traditional media have become digital, such as radio,…

This week, Jeff covers how to tackle the objection of "Price". Too high or too low, people expect you to cater the price to their budget, even though it isn't always realistic for both parties. Stay tuned to hear Jeff's top 3 points to overcome this objection! Copyright 2018 Wm Jeff Cowan

Website: TheJeffCowan.com

Click HERE to watch!…

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…

Today’s customers visit around 24 touchpoints during their car-buying journey, including your website, and get loaded up with information during this research period.

Those consumers have, more than likely, already narrowed your dealership down to one of only a couple that they plan to visit. And, while your website may be spot-on and easy to use, with the…

ALL PRODUCTS AND SERVICES ON SALE FOR 24 HOURS ONLY!

Don't miss out on this 24-hour flash sale! Contact us at 800-248-2931 or email info@jcowansprotalk.com to inquire today!…

Lots of people love the thrill of owning a high performance vehicle but they often cost quite a fair amount. Completely apart from the initial cost of acquiring them, you have to consider additional expenses like insurance and maintenance. These factors make acquiring a used sports car the altogether more attractive option.

Of course, buying anything used requires careful…

This week, Jeff begins a new series on how to find great service advisors, where to find them, and how to make them the best for your dealership! He will show you how to motivate your current advisors, post effective job advertisements, and how to train them for highest retention. Stay tuned for the first few tips of the series! Copyright 2018 Wm Jeff Cowan

Website: automotiveservicetraining.com

Click HERE to…

Flick Fusion COO Tim James shares his advice on how auto dealers can start adding video to their marketing strategy in part 2 of this 2 part video blog

There is plenty of buzz nowadays in the automotive industry about the customer experience. Everything from improving the in-showroom experience, to the finance experience, online experience and the service experience; mostly by using technology and the proper training of employees in how to properly interact with customers and treat them … well,…