Guaranteed Way to Make More Profit At Your Dealership Stop Leaving Money on the Table: A Guide to Boosting Your Dealership’s Profit Margin If you’re looking for a guaranteed way to make more profit at your automotive dealership, it’s time to start paying attention to the backside of expenses. By taking a closer look at […]
Guaranteed Way to Make More Profit at Your Dealership Read More »
7 Ways to Reduce Costs at Your Dealership Dealerships should focus on lowering their costs when looking for more profit because it directly impacts their bottom line. By reducing costs, dealerships can increase their profit margin without making any major changes in their business. Lowering costs is also a more sustainable way to increase profitability
7 Ways to Reduce Costs at Your Dealership Read More »
Dealerships are facing increasing pressure to maximize revenue and profitability in their finance departments. However, there are numerous ways in which dealerships can be losing money in finance right now. From inadequate risk assessment and pricing of reinsurance policies to poor communication and collaboration between departments, these issues can lead to missed opportunities, errors, delays,
13 Ways You Are Losing Money In Finance RIGHT NOW! Read More »
There are a lot of reinsurance structures available to dealerships, and two common structures are CFC and NCFC. Below are benefits and Drawbacks to these structures as well as some additional information about how to determine which structure would be most beneficial for your dealership. CFC (Cost of Funds Cover) Benefits: Drawbacks: NCFC (No-Cost of
Benefits and Drawbacks of CFC vs. NCFC Read More »
First – a loan against your reinsurance is not a withdrawal. It’s a loan against your assets, not a distribution. You can set the terms of the loan yourself: Term length up to 7 years, Payment amount, interest rate (within reason). It works very much like a 401(k) loan. You can also do interest only
Pros and Cons of Reinsurance Loans for your Dealership Read More »
An upfront premium payment is an advance from the insurance company that covers your warranties that is based on the projection of your future performance, past performance, and current claims. Based on their projection, you receive a check for a lump sum amount that your dealership pays back with future sale of contracts. This isn’t
Pros and Cons of Upfront Premium Payment Read More »
I want to tell you a quick story that relates to the state of the Automotive Industry right now. I had the same barber for over 10 years, and my loyalty to him was unwavering. Even when I had moved over 1 hour away from the town I used to live in… I planned my
4 Things your F&I Agent Should be doing to Help Your Dealership Read More »
They say Hindsight IS 2020… And That could not be more true this year than ever before. It makes me wonder… If you could have a crystal ball 1 year ago or even 10 months ago and knew all of these things that are going on right now where going to happen… What would you
5 Digital Enhancements Dealerships Can Make Today Read More »
Are sales in your dealership starting to fizzle after the boom that we just had? Well, here’s four things that you can do in your store to remain profitable as sales decline. In the automotive business, we are always talking about how to maximize the profit, and how to keep more of the money that
4 Ways for your dealership to remain Profitable Read More »
In this post, we delve into a pressing concern for dealerships, especially those encountering challenges in Dealership Profitability. If you’ve noticed a downturn in your F&I performance, with dwindling numbers and diminishing returns becoming more apparent, this topic is tailored for you. We understand the critical nature of F&I in driving dealership profitability, which is
8 Practices That Will Boost your F&I Profitability This Month Read More »
