Dealer Practices to be Scrutinized by the FTC and CFPB
Industry Attorney Thomas Hudson reports on information about what the Federal Trade Commission (FTC) and the newly-created Consumer Financial Protection Bureau (CFPB) intend to enforce.
Industry Attorney Thomas Hudson reports on information about what the Federal Trade Commission (FTC) and the newly-created Consumer Financial Protection Bureau (CFPB) intend to enforce.
Author Brian Shackelford explains the difference between continuous auditing and continuous monitoring and discusses the use of continuous monitoring to ensure the effectiveness of internal controls and prevent fraud inside the dealership.
Author Jennifer Murphy discusses the influence of online reviews and presents tips from four companies focused on helping dealers with online reputation management.
General manager of a Toyota store, Tony Troussov, offers a step-by-step script for leaving effective voicemails that salespeople can customize and use.
Industry expert, David Keller, discusses two profit centers dealers can add to dealerships to make 2011 a more profitable year—a detail department and a BHPH operation. He also discusses when BHPH dealers should set up a related finance company (RFC).
Attorney Thomas Hudson discusses how proactive customer relationship management can potentially avoid sticky legal situations in the future.
Industry expert and trainer Greg Wells discusses the five laws that sales managers in dealerships with proper customer relationship management (CRM) follow.
Attorney Thomas Hudson shares one dealer’s reaction to non-compliance in the dealership.
James L. "Butch" Williams, CPA, describes the health insurance credit available to small businesses in depth and even provides an example calculation.
Creating name recognition for your dealership can be accomplished many ways. Author David Keller discusses outside-the-box ways to promote your dealership that will get people in the community talking about you.
The legalities surrounding bird-dog, or referral, programs vary from state to state. Attorney Tom Hudson reminds readers why it’s important to seek legal advice before implementing such programs.
Busy sales managers have plenty to manage that’s right in front of them, but it’s important to check “blind spots” to uncover hidden profits. Author Greg Wells highlights four blind spots and what you can do to get them out in plain sight.
While constructing his independent dealership Autoline, Dealer Ryan Corey said the idea was for it to be “completely opposite a traditional car dealership.” From the interior decoration and logo to the dealership’s advertising, it’s easy to see his store is unique, and it’s attracting and retaining customers. Since it opened, sales have increased about 400 percent.
Thomas B. Hudson - What's a dealer to do in order to avoid an up-close-and-personal meeting with his state's AG? We recommend that dealers prominently price all their cars (as some state laws require). The price is the price, no matter who is buying or how they are paying.
David Keller - As more dealers rely on used vehicle sales since new sales are significantly down from years past, it’s important to keep your eye on used sales as new sales incrementally increase.
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