Deal structuring for-profit and deliveries is an Art Form. Much like other art forms – painting, dance, music composition and hitting the low and away slider – it is usually perfected by ten thousand hours of practice. Ten thousand hours translates to eight hours of practice seven days a week for 1,250 days or three [...]
It’s something we didn’t see coming. But now that it’s here, we can’t ignore it. In the span of five short months, COVID-19 has changed the car business. The pandemic has changed how vehicles are sold. And how vehicles are purchased. Since the novel coronavirus hit the U.S. in March—and even after lockdowns have been [...]
Love the car you lease? Buying out your lease might be your best bet. Buying out a lease should normally be straightforward when the option is available. Determining whether a buyout makes sense can take a bit of thinking but should generally be fairly easy, too. Lease Terms and Timing Determine Whether Buyout is [...]
Men and women with problem credit or no credit history may have trouble financing a vehicle purchase. A possible solution is to do business with a financing company known as a subprime auto lender. Obtaining a loan from one of these organizations allows the person to buy a car and build a positive credit score [...]
If you want to develop a successful sales strategy, you must work to build trust with your customers. This is something you should make clear in your used car dealership business plan – after all, funders want to see feasibility in your company once it is launched. Being able to earn customer trust is crucial [...]
The New Normal of Dealer Financing The COVID-19 pandemic along with the impact it has had on the economy will continue to impact auto dealers. For some, it is leaving them in a crisis situation. Even the most stable dealerships can be left vulnerable, without any definitive plan to create, protect, and manage liquidity. [...]
The phrases “floor plan financing” or “floor planning” are thrown around often in auction and dealership circles. However, do you really know what the terms mean and how does an auto dealer floor plan line of credit work? To put simply, floor plan financing and floor planning work almost exactly like credit cards that are [...]
If your car loan terms seem unfavorable and it is taking an unreasonably long time to pay off the debt, it may be advantageous to seek a loan refinance. While there are risks to this financial transaction, many borrowers can seek fairer terms, which help them to shorten the amount of time it takes to [...]
People all around the world are facing some serious challenges right now. Some people are out of work or trying to get by on reduced hours. This has created a need to cut back on spending wherever possible. For those wishing to purchase a new vehicle, now is a great time. Interest rates are low [...]
How to Lower Your Car Payment If you are like most people, you are probably searching for ways to make your income go further. One of the first things you can do is by looking carefully at your budget. When doing this, begin with your largest expenditures. According to statistics, transportation costs are the second [...]