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What will selling and servicing cars in the New Normal be like post COVID-19? If you are a professional, know your product, care about your clients, communicate with customers on their terms, and focus on an ownership experience that fits their life, you will succeed.
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As COVID-19 has lead to more vehicles being financed and purchased online, the ability of the F&I department to sift out synthetic fraud will be increasingly valuable to them. F&I managers are encouraged to take another look at available technologies to identify synthetic fraud when practiced against their dealership.
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New car buyers still walk into a dealership to purchase the actual vehicle, but most would prefer to spend less time on-site, giving the dealer and sales team less time to build a trusted relationship with customers.
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The future is upon us and dealerships need to take action and embrace the knowledge transformation. This article will discuss different trends in the learning space and how they are going to affect the way personnel working in dealerships learn.
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The automotive industry has seen an unprecedented loss in sales over the past few months and F&I departments are facing serious challenges amidst these losses. We spoke with five leaders in F&I training, and they shared their thoughts, advice, and predictions on what to do today to help prepare for tomorrow.
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We’ve all heard scary stories of identity theft and the stolen cars resulting from it. We need to slow down to speed up and use all the tools in our arsenal to prevent identity theft.
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Due to a multitude of factors, including vehicle sales, household debt and unemployment, automotive lenders will be affected differently depending on their market segment and their loan origination process.
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Understanding the differences in target audiences, their feelings about brand, loyalty, preferences, and shopping habits is vital for success.
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Gina Cocking was recently appointed CEO of Colonnade Advisors, a mergers and acquisitions investment bank with expertise in the automotive F&I industry. Cocking has a storied professional background that includes high-profile positions in investment banking and as CFO at major financial institutions.
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As vehicle margins continue to compress, dealers need to differentiate themselves beyond vehicle prices and offer consumers a premium experience. An excellent reputation and finding the right vendor to manage it are vital first steps.
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