Vehicles are in high demand these days with American consumers seeking out both new and used models. Ordinarily, that would be welcome news for the nation’s dealerships. After all, high demand typically means higher sales. In turn, generating more satisfied customers leads to positive reviews and valuable word-of-mouth advertising. That brings in even more [...]
Used-car sales have been outpacing new car sales before the pandemic and more so this time – with no signs of stopping. Prices for used cars continue to rise while demand still keeps on growing. Your independent auto dealership may be in a prime position to earn more, but are you taking advantage of [...]
A recent study shows that more than 280 million registered vehicles are currently in the United States. This data is a clear indicator that running an auto dealership remains profitable as ever. However, not every business in this niche can meet its sales quota despite the consistent demand. Auto financing for independent dealers continues [...]
An independent auto dealership's finance and insurance (F&I) department is often perceived as tedious and restrictive by customers. While it may be true in the past, a survey indicates that modern customers are now more likely to respond positively when approached by an F&I manager. That could be related to how the industry has [...]
Many dealerships were affected by the pandemic and the global chip shortage that hit between 2020 and 2021. However, the industry was well on the road to recovery by the end of 2021, with many businesses and dealer finance services already back in full swing and planning for growth. Whether you’re new to the industry [...]
After a year that caused many to have little to no need for driving, 2022 is looking to be a good year to get back on the road. Whether you’re looking for a new car or to reduce the monthly payments on your current vehicle, understanding the art of refinancing can save you a lot [...]
How to Grow Your Independent Car Dealership Though dealerships were badly affected by the pandemic, they were well on the road to recovery by the end of 2021. Instead of worrying about how to sustain the business, they’re now able to continue planning for growth. Everything was radically transformed, new trends were introduced, and consumer [...]
Protect Your Customers Better with Auto GAP Protection Auto GAP protection is more crucial these days than ever. The effects of the global pandemic on American households made them more frugal. While other car buyers see it as unnecessary to get GAP protection for their car purchases, most of them just don't know its value. [...]
Today, vehicle service contracts remain in demand since about 40% of Americans do not have funds to spare for emergency car expenses. However, even if there's consistent demand for an auto service contract, it doesn't mean it's easy to sell. Even buyers who have an inkling to consider getting a service agreement may not go [...]
F&I managers have challenging roles. Aside from boosting a car dealership's performance, they also need to keep up with changes in legislation, technology, regulations and customer expectations. For things to be simpler for both dealerships and managers, the latter must follow the best practices for seamlessly building compliance into your F&I process. Adhering to this [...]