Auto Dealers
Showing 273–288 of 578 results
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5 F&I best practices
Spring 2015
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 328
Abstract: Owners and managers who can identify the highest margin finance and insurance (F&I) products, as well as the products their customers are most likely to buy, will be on their way to finding a source of hidden profits. This article offers five industry best practices for pumping up F&I revenue — and overall dealership profitability.
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Your store could benefit from an operational review
Spring 2015
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 660
Abstract: Many dealership owners and managers spend so much time dealing with the day-to-day tasks involved in running the business that it’s hard for them to see the big picture. One of the best ways to see the proverbial forest for the trees is to perform a comprehensive review of dealership operations, as this article details.
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Beyond the eye of the beholder – How objective is your appraisal process?
Spring 2015
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 608
Abstract: Customers are often wary of trading in their vehicle at a dealership because of what they fear might be an unfair valuation of their car or truck. But trade-ins are important to dealerships because they can be necessary to make a sale. So, when a customer walks in the door inquiring about a trade-in, the dealership better have an effective appraisal process in place.
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Get a jump on succession planning
Spring 2015
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 832
Abstract: Baby boomers are now nearing or reaching what has traditionally been considered retirement age. For most dealership owners, retiring means selling their dealership or passing it on to family members. The key to doing this successfully is implementing a succession plan well in advance of the time they plan to retire. This article includes a discussion of how to launch the process and why now may be a good time to sell a dealership.
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Dealer Digest – Use SEO to get e-head
March / April 2015
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 425
Abstract: This issue’s “Dealer Digest” provides four tips for improving a website’s search engine optimization capability. It mention’s a trade association’s doubts about the methodology the Consumer Financial Protection Bureau uses to determine finance companies’ compliance with fair lending laws. And, it notes the recent trend of strong dealership M&A activity.
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6 steps for choosing the right DMS system
March / April 2015
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 598
Abstract: A dealership management software (DMS) system is critical to successful operations. It’s the engine that helps dealers efficiently manage inventory, accounting, customer relationship management, sales, financing and back office functions. But there are many DMS solutions available, ranging from expensive high-end systems with dynamic and complex functionality to less robust and less costly ones that are adequate for many smaller dealerships. This article offers six steps to help a dealer choose the right system.
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Accounting considerations – Getting your arms around goodwill
March / April 2015
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 664
Abstract: Goodwill — also known as “blue sky” — is an intangible asset, a commodity that isn’t easily quantified. Goodwill typically appears on a balance sheet following a merger or acquisition when one company acquires another company for a price higher than the fair value of its assets. With so many dealers consolidating their businesses over the last year, now is a good time to revisit the nature and accounting treatment of goodwill. This article describes that treatment and notes that dealerships today are able to spend less time and money on goodwill testing than in past years, because of accounting changes introduced in 2014.
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Is a subprime auto loan bubble ready to burst?
March / April 2015
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 838
Abstract: Automobile lending in the U.S. is booming, recently reaching the highest level since well before the Great Recession. But digging deeper into the numbers reveals one potentially disturbing trend: a sharp rise in the number of subprime auto loans being made — especially among auto finance companies. Are fears of a bursting subprime auto loan bubble overblown? This article discusses the arguments for and against. A sidebar offers a few tips for keeping legitimate subprime lending from becoming predatory.
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Looks count – IRS wants “image money” included in a dealership’s gross income
Winter 2015
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 374
Abstract: One way that some automobile manufacturers motivate dealerships to renovate, modernize and upgrade their facilities is by encouraging them to participate in “facility image upgrade programs.” These programs often provide payments to dealerships to help defray costs. Some dealerships wonder how these payments — referred to by the IRS as “upgrade image support” payments and commonly called “image money” by dealers — should be treated from a tax perspective. This article discusses a recent IRS General Legal Advice memorandum clarifying its position on this issue.
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The earnout provision – If negotiations stall, consider this …
Winter 2015
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 603
Abstract: The recent upsurge in dealership merger and acquisition activity in many parts of the country is expected to continue in 2015. For those dealers thinking about being a seller (or buyer) this year, it’s a good time to think about alternative deal structures that might ease the negotiation process. One strategy to consider when sales negotiations falter is adding an earnout provision to the purchase agreement. This article explains how an earnout works and how, properly executed, it can provide protection for the seller.
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Weighing the benefits of LIFO
Winter 2015
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 676
Abstract: Many dealerships use an inventory accounting method known as “last in, first out” (LIFO) to defer their income tax liabilities. But LIFO requires some additional recordkeeping and may make a dealership appear less profitable to outsiders. This article compares the tax benefits of LIFO with the downsides, including its effect on financial statement reporting.
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Should you revamp your sales compensation model?
Winter 2015
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 814
Abstract: The Internet has fundamentally changed the role of the automobile salesperson. When customers walking in the door already know which vehicle they want to buy and how much they will pay for it, this tends to minimize the need for a traditional salesperson. Given this, many dealerships are re-examining the proper role of their salespeople, as well as their sales compensation model. This article discusses a sales model that combines base salary with performance-based incentive pay. It also offers a few guidelines for constructing a sales compensation plan, while a sidebar looks at what automobile dealership salespeople across the United States earn.
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Dealer Digest – Automatic 401(k) enrollment encourages employees to save
January / February 2015
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 406
Abstract: In this issue, “Dealer Digest” addresses the benefits of automatic 401(k) enrollment; an increasing number of calls by smartphone users and how to prepare for this trend; and tips to boost F&I sales.
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Beware of F&I scams – Internal controls can guard against employee-driven frauds
January / February 2015
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 660
Abstract: In newspapers nationwide and online, one sometimes sees reports of employee-initiated scams in dealership F&I departments. Greed, personal circumstances or even pressure to make quotas can drive staff members to exploit customers. This article discusses ways to help prevent a few of the more common scams, involving credit scores, warranty costs and customer loans.
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The Affordable Care Act – What you should know entering 2015
January / February 2015
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 584
Abstract: It’s been nearly five years since the ACA was passed by Congress and signed by the president. Since then, a number of changes have been made to the law. This makes the start of 2015 a good time to review its status. This article provides a review of two of the act’s most important provisions — the “play or pay” provision and the small employer tax credit.
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3 steps to a better dealership this year
January / February 2015
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 833
Abstract: There are three steps dealers can take toward ensuring a more successful and profitable 2015: setting goals, making forecasts, and setting budgets. This article offers details, while a sidebar explains how “rolling” forecasting and budgeting can be an improvement over the traditional annual process.