Industry Leading Finance Products, Training, Support & News: December 2020

Monday, December 21, 2020

Great Sales People practice what to ask not what to say!

December Industry Elite | Brian Maxwell Brian Maxwell has nearly 20 years of automotive sales and training experience with a strong reputation for providing cutting-edge sales training for Automotive Sales Professionals that improve conversions, increase gross profits, and customer service reviews/surveys. His Dominate at The Dealership sales training gives automotive salespeople the tools to convert more sales and make the dealership more profitable. Brian Maxwell and his team work with automotive dealer groups nationwide. "We turn salespeople into sales professionals and develop Brand Ambassadors." Brian Maxwell We make BOLD statements and we produce BIG RESULTS. Email: Brian@spoar.us --- https://video.wixstatic.com/video/6c150b_228599d867824810823d76197ef95543/480p/mp4/file.mp4
https://www.elitefipartners.com/post/great-sales-people-practice-what-to-ask-not-what-to-say?utm_source=dlvr.it&utm_medium=blogger

North Carolina Dealer Launches Classic Car Restoration Contest to Keep Service Department Employees Working

John Hiester of the Heister Automotive Group in Fuquay-Varina, N.C. created a competition pinning teams of service employees against each other to restore classic vehicles.
https://blog.nada.org/2020/12/21/north-carolina-dealer-launches-classic-car-restoration-contest-to-keep-service-department-employees-working/?utm_source=dlvr.it&utm_medium=blogger

Mostly Automotive Marketing

In this Episode of Mostly Automotive Marketing with Matt Wilson we talk about marketing to dealers in 2020. If you’re an agency or vendor to dealers you’re familiar with the challenges we’ve all been facing in 2020. How do you get “in front of” dealers during Covid? How can you retain your current customers? In this episode I chat with Michael Aufmuth from EliteFI about how his company has been interacting with their dealers and how they’ve been prospecting new clients. Mostly Automotive Marketing with Matt Wilson is a bi-weekly-ish podcast all about Automotive Marketing. Mostly. You can listen and download on any major podcast platform including Apple Podcasts, Google Podcasts, Spotify and Anchor. ‘Like’ us on Facebook @MostlyAutomotiveMarketingwithMatt Wilson and follow Matt on twitter @MarketingMattW.https://youtu.be/QLeyv1m5Skg
https://www.elitefipartners.com/post/mostly-automotive-marketing?utm_source=dlvr.it&utm_medium=blogger

NADA Show 2021 Will Be More Innovative Than Ever

Learn why franchised dealers and their dealership teams won’t want to miss this industry-leading event.
https://blog.nada.org/2020/12/21/nada-show-2021-will-be-more-innovative-than-ever/?utm_source=dlvr.it&utm_medium=blogger

Sunday, December 20, 2020

Gap Protection | Elite FI Partners

In today's market Gap Protection is not a one size fits all dealers program. Elite FI Partners has you covered with multiple options that are designed for re-insurance, dealer retro participation, and direct-write programs. Our Gap programs are fully insured and offer coverage up to 96 months. We offer Standard Gap products and Express Expedited Gap where the program earns out much quicker. Contact us today to learn more. https://www.elitefipartners.com/gap-protection?utm_source=dlvr.it&utm_medium=blogger #financeproducts #elitefi
https://www.elitefipartners.com/gap-protection?utm_source=dlvr.it&utm_medium=blogger

Vehicle Service Contracts | Elite FI Partners

What is the maximum mileage your service contract will cover? The Complete Coverage program offers exciting new enhancements, coverages and benefits! We can now offer cover on vehicles with up to 300k miles and up to 20 years old. https://www.elitefipartners.com/exclusionary-vehicle-service-contra?utm_source=dlvr.it&utm_medium=blogger #elitefi #vehicleservicecontract #leadingfinanceproducts #newrevenue
https://www.elitefipartners.com/exclusionary-vehicle-service-contra?utm_source=dlvr.it&utm_medium=blogger

Saturday, December 19, 2020

We look at the processes in a dealership differently compared to other agencies. We believe that the idea of having a one size fits all dealerships process is flawed. We also realize that dealerships all take different steps in their road to the sale. On our first day in your dealership, our team will review the processes your store is currently using. With that information, we formulate a custom process and implementation plan designed around your dealership. Next, we roll our sleeves up and get in the trenches to show your team side by side how it is done. We are big believers in leading and learning by showing not telling! #elitefi #financeprocess #keepgrowing https://www.elitefipartners.com/process?utm_source=dlvr.it&utm_medium=blogger

The Next Sale Application Brings the Value

Next Sale is an exciting & innovative application that was designed specifically for dealerships. The Next Sale app streamlines the highly sought after-sales process while utilizing your most valuable resources to promote your store. The application additionally provides management with a dashboard bringing the staff's social media, review process & daily activities into a streamlined approach. Unlike other apps, Next Sale provides you the tools to ensure your salespeople are obtaining positive results, which translates into profit. The Next Sale app secures warm prospects in an engaging environment. The results are fun and well received! The Next Sale app is the result of many years of car sales experience by Jason Geras, president of Geras Associates. Jason has developed proven processes and has been extremely successful throughout his automotive sales career. Next Sale is the culmination of his best practices and techniques built into a streamlined and effective application. Once your team utilizes this highly effective app to generate their Next Sale they will be hooked! ,,Jason Gerasimovich
https://www.elitefipartners.com/post/the-next-sale-application-brings-the-value?utm_source=dlvr.it&utm_medium=blogger

Positive Passionate People Prosper

I met with a dealer today and had a conversation about people who are passionate about the car business. We shared our ideas about the future of the Industry and ultimately learned that we both shared the same passion for growth! After a little bit, he took me for a tour of his store and introduced me to his team! When we walked back to the front of the dealership he said to me, You see these people I am introducing you to? These people are my family! This is what it is like here at our dealership. I may not everything figured out yet but I know having the right people is the most important part! We shared our ideas about the future of the industry and ultimately learned that we both shared the same passion for growth! After talking for a little bit he asked if I wanted to see the second location that he is going to be opening in the near future. I hopped in my car and followed him to the other location where he showed me the entire building and his vision of what it is going to become in the next couple of months. Days like today are why I love this business! I get to meet people that share my same passion for our industry and dealerships that create an amazing culture. #WeAreEliteFI #keepgrowing
https://www.elitefipartners.com/post/positive-passionate-people-prosper?utm_source=dlvr.it&utm_medium=blogger

Thursday, December 17, 2020

Auto Dealership Buy/Sell Market Continued to Soar in Q3

2020 is on track to surpass 2015’s record transaction levels; mega dealer transactions on the rise, dealership earnings spike blue sky values, Toyota is most valuable non-luxury franchise, according to Third Quarter 2020 Blue Sky Report®.
https://www.fi-magazine.com/363631/auto-dealership-buy-sell-market-continued-to-soar-in-q3?utm_source=dlvr.it&utm_medium=blogger

NADA Discusses Diversity in the Auto Industry at NADA Show

To make positive changes in the industry, NADA is hosting a conversation on what it will take to grow and diversify our industry for the future.
https://blog.nada.org/2020/12/17/nada-discusses-diversity-in-the-auto-industry-at-nada-show/?utm_source=dlvr.it&utm_medium=blogger

Executive from Cox Automotive, Dealertrack, and Carmatic Joins Digital Air Strike’s Leadership Team

Jason Barrie will help guide Digital Air Strike’s product strategy and market development as the company continues to grow and release new technology to help businesses transact virtually with consumers.
https://www.fi-magazine.com/363624/executive-from-cox-automotive-dealertrack-and-carmatic-joins-digital-air-strikes?utm_source=dlvr.it&utm_medium=blogger

Black Book: Specialty Market Insights

Black Book released a newly published update to their COVID-19 Specialty Markets Insights report.
https://www.fi-magazine.com/363619/black-book-specialty-market-insights?utm_source=dlvr.it&utm_medium=blogger

Get Ready to Sell Your Dealership

With proper planning and having the right professional team in place, selling your dealership can be a smooth transaction for all parties involved.
https://www.fi-magazine.com/363617/get-ready-to-sell-your-dealership?utm_source=dlvr.it&utm_medium=blogger

Tuesday, December 15, 2020

CDK Global Names Eric Guerin Chief Financial Officer

The appointment of Guerin will enable Joe Tautges to complete his transition to the role of chief operating officer in early in 2021.
https://www.fi-magazine.com/363611/cdk-global-names-eric-guerin-chief-financial-officer?utm_source=dlvr.it&utm_medium=blogger

COVID-19 Market Insights

Black Book recently published an update to their COVID-19 Market Insights report.
https://www.fi-magazine.com/363609/covid-19-market-insights-10?utm_source=dlvr.it&utm_medium=blogger

Pickups and SUV Lease Payments Increase Entering December

Wantalease.com reports the latest update on new lease offerings entering the month of December.
https://www.fi-magazine.com/363607/pickups-and-suv-lease-payments-increase-entering-december?utm_source=dlvr.it&utm_medium=blogger

Vehicle Service Contracts | Elite FI Partners

What is the maximum mileage your service contract will cover? The Complete Coverage program offers exciting new enhancements, coverages & benefits! We can now offer cover on vehicles with up to 300k miles and up to 20 years old. https://www.elitefipartners.com/exclusionary-vehicle-service-contra?utm_source=dlvr.it&utm_medium=blogger #elitefi #vehicleservicecontract #leadingfinanceproducts #newrevenue
https://www.elitefipartners.com/exclusionary-vehicle-service-contra?utm_source=dlvr.it&utm_medium=blogger

A Dealer’s Guide to Rethinking Recruiting and Retention

Buyers expect a seamless, customer-centric path to purchasing a new vehicle that gives them control over the buying process, and that means dealers are increasingly going digital to make that happen. Download “A Dealer’s Secret to Success: Rethinking Recruiting and Retention” to take a new look at your recruiting tactics and your employee development strategy to keep your team—and your dealership—successful.
https://www.fi-magazine.com/fi/363539/a-dealers-guide-to-success-rethinking-recruiting-and-retention?utm_source=dlvr.it&utm_medium=blogger

Monday, December 14, 2020

Dominion DMS Announces VUE Integration with Hyundai and Genesis

Certified through Oxlo Systems, the cloud-native DMS makes it easier to qualify for OEM incentives without additional service fees.
https://www.fi-magazine.com/363602/dominion-dms-announces-vue-integration-with-hyundai-and-genesis?utm_source=dlvr.it&utm_medium=blogger

The Modern Sales Team as a Driver of Inventory Turn

The world has changed — and so too must your sales practices. This unique relationship quickly gives sales personnel compelling detail about the vehicles now in your inventory and in the reconditioning pipeline.
https://www.fi-magazine.com/363600/the-modern-sales-team-as-a-driver-of-inventory-turn?utm_source=dlvr.it&utm_medium=blogger

Elite FI Partners | Leading Finance Products | Training & Coaching

Elite FI Partners offers premium finance products for dealers backed with unmatched training and support. We specialize in dealer profit share programs, finance manager training programs, process training & coaching, pay plan set-up and implementation, top-rated finance products, industry-leading vehicle service contracts, multiple GAP protection options, dealer finance menu set up and training, dealership customized analytics and metrics. https://www.elitefipartners.com/products?utm_source=dlvr.it&utm_medium=blogger
https://www.elitefipartners.com/products?utm_source=dlvr.it&utm_medium=blogger

Sunday, December 13, 2020

Gap Protection | Elite FI Partners

Vehicle Service Contracts | Elite FI Partners

Saturday, December 12, 2020

Friday, December 11, 2020

Brown & Brown, Inc. Announces the Asset Acquisition of Maj Companies Ltd. by Brown & Brown Dealer Services

For the past 30 years, MAJ Companies has been serving its dealer partners by providing best in class F&I product and sales training, aftermarket program and contract analysis and F&I performance management.
https://www.fi-magazine.com/363593/brown-brown-inc-announces-the-asset-acquisition-of-maj-companies-ltd-by-brown-br?utm_source=dlvr.it&utm_medium=blogger

Car Shoppers Report Increased Transparency While Buying a Car

Survey finds car-buyers increasingly turn to digital tools during COVID-19.
https://www.fi-magazine.com/363591/car-shoppers-report-increased-transparency-while-buying-a-car?utm_source=dlvr.it&utm_medium=blogger

How Lessons from the Trail Can Help Your Dealership Win

On a recent hike, I had quite a bit of time to reflect on the similarities of lessons learned on the trail and lessons learned in the dealership. When you’re all in, and you don’t have any other choice but to keep going, you’ll find a way to reach the top.
https://www.fi-magazine.com/363567/how-lessons-from-the-trail-can-help-your-dealership-win?utm_source=dlvr.it&utm_medium=blogger

Kelley Blue Book Announces 2021 Best Buy Award Winners

Annual awards name Kia Seltos as the 'Best New Model for 2021'.
https://www.fi-magazine.com/363556/kelley-blue-book-crosses-into-virtual-gaming-to-announce-2021-best-buy-award-win?utm_source=dlvr.it&utm_medium=blogger

Product Prep Keeps Automotive Pros on Top of Their Game as Auto Sales Surge

Online training and certifications keep ‘the sword sharp’ and energize teams amidst the pandemic.
https://www.fi-magazine.com/363554/product-prep-keeps-automotive-pros-on-top-of-their-game-as-auto-sales-surge?utm_source=dlvr.it&utm_medium=blogger

Thursday, December 10, 2020

An Interview with Lloyd Trushel

AE sat down with Trushel recently to get some insight into his experiences in the world of automotive and uncover the secrets behind a successful career in F&I.
https://www.fi-magazine.com/363581/an-interview-with-lloyd-trushel?utm_source=dlvr.it&utm_medium=blogger

Ohio auto and truck dealers seek nationwide expertise to deliver the start-to-finish experience customers expect.
https://www.fi-magazine.com/363573/oada-announces-dealertrack-as-their-exclusive-provider-for-motor-vehicle-registr?utm_source=dlvr.it&utm_medium=blogger

Tips For Recovering Debts From Departing Employees

Many scenarios exist where employees can leave an employer owing the dealership money. The likelihood of your being able to recover money for these purposes depends in large part on a handful of proactive processes and procedures.
https://www.fi-magazine.com/363569/tips-for-recovering-debts-from-departing-employees?utm_source=dlvr.it&utm_medium=blogger

Tuesday, December 8, 2020

COVID-19 Market Insights

Black Book recently published an update to their weekly COVID-19 Market Updates.
https://www.fi-magazine.com/363558/covid-19-market-insights-9?utm_source=dlvr.it&utm_medium=blogger

What Kind Of People Are We?

When a customer encounters a true F&I professional, they are pleasantly surprised and the level of trust leads to open discussions and great outcomes for everyone involved.
https://www.fi-magazine.com/363562/what-kind-of-people-are-we?utm_source=dlvr.it&utm_medium=blogger

Digital Advertising Technology Helping Savvy Dealers Acquire Used Inventory at the Right Price

Even when supply and demand return to more normal cycles, the use of digital advertising technologies can put more power into the hands of each dealer and raise profit potential at the end of each month and year.
https://www.fi-magazine.com/363560/digital-advertising-technology-helping-savvy-dealers-acquire-used-inventory-at-t?utm_source=dlvr.it&utm_medium=blogger

CDK Global Names David Hahn Chief Information Security Officer

In his role, Hahn is responsible for developing a global strategy and executing the roadmap for managing technology risk and information security across the company’s IT, product engineering, and research and development departments.
https://www.fi-magazine.com/363549/cdk-global-names-david-hahn-chief-information-security-officer?utm_source=dlvr.it&utm_medium=blogger

PureCars and Facebook Conduct Joint Study on Impact Social Marketing Tools Have on Dealers Cutting Advertising Expenses

Study showed higher website traffic and retargeting leads through lower advertising spend.
https://www.fi-magazine.com/363530/purecars-and-facebook-conduct-joint-study-on-impact-social-marketing-tools-have-on-dealers-cutting-advertising-expenses?utm_source=dlvr.it&utm_medium=blogger

Monday, December 7, 2020

How Automotive OEMs and Agency Partners Will Build Effective Holiday Promotions This Year

This year, holiday shopping on all goods will make it more challenging for auto brands to advertise and identify the right consumers. With the right insights, companies can ensure they’re getting the most out of their creative campaign investments.
https://www.fi-magazine.com/363544/how-automotive-oems-and-agency-partners-will-build-effective-holiday-promotions-this-year?utm_source=dlvr.it&utm_medium=blogger

What COVID Has Taught Us About the Future of Auto Retailing

It is my hope that the rest of the industry, including automakers, heed the lessons already learned, and truly listen to what their own customers are telling them about the importance of convenience, flexibility, transparency and fairness in the vehicle sales process.
https://blog.nada.org/2020/12/07/what-covid-has-taught-us-about-the-future-of-auto-retailing/?utm_source=dlvr.it&utm_medium=blogger

Saturday, December 5, 2020

Friday, December 4, 2020

Alpha Warranty Services to Offer SiriusXM to Customers

Alpha Warranty Services’ partner auto dealerships will now include a three-month SiriusXM subscription as a value-add for its new and existing contract holders.
https://www.fi-magazine.com/363532/alpha-warranty-services-to-offer-siriusxm-to-customers?utm_source=dlvr.it&utm_medium=blogger

NADA Show 2021 Collector Car Video Contest

As part of NADA Show 2021, we are inviting NADA members to share a video of their favorite collector car for a chance to win $5,000 to be donated to a charity of their choice.
https://blog.nada.org/2020/12/04/nada-show-2021-collector-car-video-contest/?utm_source=dlvr.it&utm_medium=blogger

Thursday, December 3, 2020

New Experian Report Shows Auto Industry Continued to Rebound in Q3

Despite smaller percentage of financed vehicles, outstanding loan balances grew 2.8% year-over-year to more than $1.2 trillion.
https://www.fi-magazine.com/363523/new-experian-report-shows-auto-industry-continued-to-rebound-in-q3?utm_source=dlvr.it&utm_medium=blogger

NADA Market Beat: New-Vehicle Sales Down Slightly Compared to Previous Two Months

For 2020, NADA expects that new light-vehicle sales will total 14.2 million units. There may be some regional ups and downs in sales as the country deals with spikes in COVID-19 cases throughout the winter months.
https://www.fi-magazine.com/363521/nada-market-beat-new-vehicle-sales-down-slightly-compared-to-previous-two-months?utm_source=dlvr.it&utm_medium=blogger

Relaunching the NADA Experience Contest to Celebrate Academy Alumni

To celebrate and recognize our alumni, we are excited to announce the relaunch of the NADA Academy Experience Contest. The contest will showcase the lives and legacies of graduates who embody the mission of NADA academic excellence and leadership.
https://blog.nada.org/2020/12/03/relaunching-the-nada-experience-contest-to-celebrate-academy-alumni/?utm_source=dlvr.it&utm_medium=blogger

SwapALease Launches Mobility Leasing by SwapALease

Program eliminates dealers turning away shoppers who have time left on lease contracts.
https://www.fi-magazine.com/363508/swapalease-launches-mobility-leasing-by-swapalease?utm_source=dlvr.it&utm_medium=blogger

Autotrader Names Best New Automotive Technology of 2021

To help car buyers navigate the breakthrough technology in vehicles, Autotrader put together a list of the Best New Automotive Technology for 2021.
https://www.fi-magazine.com/363510/autotrader-names-best-new-automotive-technology-of-2021?utm_source=dlvr.it&utm_medium=blogger

Wednesday, December 2, 2020

Black Book Used Vehicle Retention Index Increases 0.7 Points in November

The seasonally adjusted Index increased slightly from October, with raw index values declining less than usual for this time of year.
https://www.fi-magazine.com/363512/black-book-used-vehicle-retention-index-increases-0-7-points-in-november?utm_source=dlvr.it&utm_medium=blogger

You Can’t Have a Succession Plan Without Reinsurance

Most dealers understand the importance of a succession plan. Too few realize the critical role pre-tax dollars can play in making your vision for the future a reality.
https://www.fi-magazine.com/363506/you-cant-have-a-succession-plan-without-reinsurance?utm_source=dlvr.it&utm_medium=blogger

Distinguished Speaker Series Returns to NADA Show 2021

These five dedicated sessions will help dealers improve their workplace skills via personal development.
https://blog.nada.org/2020/12/02/distinguished-speaker-series-returns-to-nada-show-2021/?utm_source=dlvr.it&utm_medium=blogger

Tip of the Week: Are You An Early Riser?

How early do you get out of your office and engage the customer? Top F&I managers know that the sooner they engage the customer, the better. Tune in to this Tip of the Week with John Tabar of UDS.
https://www.fi-magazine.com/361389/tip-of-the-week-are-you-an-early-riser?utm_source=dlvr.it&utm_medium=blogger