BLOG FOR SPECIAL FINANCE CAR DEALERS
Subprime Starter Kit for Car Dealers
Over the last few months we’ve gotten several requests from car dealerships interested in our onsite special finance training program; a two month program so effective that we guarantee that the gross profit, less sales commissions, advertising costs, and our fee, is positive by the end of our two month visit to the store. (Read More…)
Comments (0)NADA Expo In Orlando Should be a Great Show
We’re just about a week away from the 2010 NADA expo in Orlando. This year I’m looking forward to a great show. Last years show was ill attended by both car dealers and vendors. In fact, for the first time since we started exhibiting back in 2004, scores of exhibitors that just through in the towel and did not show up. The booth space they rented looked like a death scene from CSI, outlined with tape, but the physical evidence of their existence had been removed. (Read More…)
Comments (0)Calculating Income and Pay Stub Debt
Misrepresenting the customer’s income and overlooking non-standard pay stub debt may cause your car deal to be held up in funding. Often subprime lenders will charge additional fees to fund these deals, other times they will reject the car deal and return the contract unfunded to the dealership.
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Minimzing the Risks in Subprime Auto Sales
Perhaps you’ve heard of, or witnessed yourself, stories about dealers getting sued by a sub prime auto lender; or a lender running out of money when a dealer had scores of contracts waiting to fund. On a smaller scale you may have heard of a lender not honoring an approval because employment and income information did not verify at time of funding, or charging the dealer back on an old deal because it was repossessed and the equipment on the vehicle was not as stated when the deal was originally approved.
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Free Online Subprime Automotive Sales Training
As a prelude to the 2010 NADA trade show, we just announced a 30 day free trial of our 24 online video special finance training series. The series is an entry level sub prime sales process for dealerships whose goal is to achieve long term success in subprime. Each online video builds the foundation necessary for long term success by distributing subprime roles, responsibilities, and knowledge amongst many groups within the store; sales, management, F & I, and administrative personnel. (Read More…)
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