If you are a dealership or a finance company that sells products such as GAP insurance, service contracts, credit life insurance, or other ancillary products, you may be wondering how to handle the situation when a customer pays off their loan early or trades in their vehicle. In this blog,....
The world of automotive sales can be a lucrative one, but it's also heavily regulated to protect both dealers and consumers. One facet of this industry that often requires careful consideration is the sale of "as-is" cars. These transactions, where dealers sell vehicles without warranties, come with their own set....
User conferences have become increasingly popular in recent years, and for good reasons! These events bring together users of a particular product, service, or technology and provide a platform for them to learn, share, and network with others in their industry. Whether you're a business owner, a collections manager, controller,....
Interest is a fundamental component of financing in the Buy Here Pay Here (BHPH) industry, where dealerships provide in-house financing for vehicle purchases. When it comes to calculating and understanding interest, two common methods are used: simple interest and add-on interest. Simple Interest: Transparency and Cost-Efficiency Simple interest is a....
Buy Here Pay Here (BHPH) dealerships have carved out a unique niche in the used car market by offering in-house financing to customers with poor credit or limited financial means. While these businesses can be profitable, they also face a range of challenges that make running them a tough endeavor.....
Deal Pack seamlessly integrates with many popular GPS companies. GPS tracking provides many advantages from asset management to customer safety, however, there are some ethical and legal limitations on how GPS’s can be used at your dealership. To avoid any state-to-state differences, this blog will describe federal laws. Disclaimer: This....
Buy Here Pay Here (BHPH) dealerships play a vital role in the automotive industry by providing loans to customers with poor credit. While these dealerships serve an underserved market, they also face the challenge of managing significant credit risk. Balancing the need for profitability and sustainability requires effective risk mitigation....
The used car industry is a dynamic and often challenging arena, with independent car dealers facing a multitude of obstacles that can impact their businesses. From economic shifts to changing consumer preferences, the road to success in this industry is not without its bumps. In this blog, we'll delve into....
Maintaining customer loyalty is paramount for sustained success with any business. However, in the face of changing market conditions and shifting customer preferences, it is not uncommon for dealerships to experience a decline in customer loyalty. Let us delve into three actionable strategies that car dealerships can adopt to take....
Automotive dealerships face numerous challenges, from managing inventory and sales to ensuring exceptional customer service. To navigate these complexities efficiently, many dealerships are turning to comprehensive dealer management solutions. Join me as we explore the advantages of utilizing a single provider for all your dealer management needs and how it....