GAP insurance is designed to be protection for drivers when they purchase a new vehicle. It is advantageous in most situations for buyers to purchase GAP insurance when they purchase a vehicle, but they might not be aware of it or the benefits of having it. Dealerships will want to offer GAP insurance to [...]
4 Marketing Strategies for Overcoming Inventory Shortages Reports show that the demand for vehicles has surged over the past year. Though the market slowed a bit during the pandemic, people who decided to wait until things returned to normal to purchase vehicles are now ready to take the plunge. At the same time, a [...]
Leasing cars has historically been a great way to drive newer vehicles, change out a vehicle for a newer model every couple of years, and enjoy a vehicle without worrying about major repairs once the vehicle gets old. However, at some point, buyers will consider whether or not they should purchase a leased car. [...]
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 [...]