Increasing F&I Gross Profit Per Vehicle

Five of the six publicly-traded new-vehicle dealership groups increased F&I gross profit per vehicle at the beginning of this year. This is a trend the groups attribute to acquisition, product sales, and enhanced collaboration between sales teams and the F&I office. Among those groups, Lithia Motors Inc. reached an all-time record by growing same-store F&I […]

Reducing Delinquencies on Auto Loans

Auto loan delinquencies are rising faster than any other category, and last year, outstanding auto loans in the U.S. reached over $1 trillion. This increase delinquencies is so high that the New York Federal Reserve Bank reports that auto loans have reached levels not seen in eight years and the 2016 auto loan totals were […]

Moving Into Online Automotive Sales

As digital technology continues to develop and new generations of consumers hit the market, more and more industries have begun selling their products through e-commerce. The modern consumer wants convenience and has begun to not only expect, but demand an online shopping experience for all types of purchases—even for something as significant as a vehicle. […]

Announcing the Budco Financial Service Lane VSC Sales Tool

A recent survey from AAA reported that 64 million drivers in the U.S. couldn’t afford an unexpected vehicle repair without going into debt. And an additional survey reveals that one-third of drivers in the U.S. skip or delay recommended services and repairs, which increases their chances of unexpected mechanical issues and breakdowns in the future. […]

Budco Financial Kicks Off the Year with PCMI and NADA

New Partnership with PCMI Budco Financial’s acclaimed 0% interest Payment Plan portal has now been integrated with PCMI’s Policy Claim and Reporting Solutions’ dealer contracting module – Open Sales Platform. This exciting partnership revolutionizes and streamlines our platform experience to allow menu companies, service drive solutions, and dealership F&I managers to operate in a single […]

Advertising VSCs and Payment Plans in the Dealership

Point of Purchase (POP) advertising is a great way to sell to your customers. It’s reported that 75% of purchasing decisions are made in-store or on-location, according to Point-Of-Purchase Advertising International (POPAI). In addition, in-store advertising can create as much as a 65% increase in sales. You probably use POP advertising in your dealership to promote […]

Social Media for Dealerships: Turning Likes into Loyalty

We all know that modern car buyers are doing more and more research and “browsing” online before making a purchasing decision. Further, the Digital Air Strike 2015 Social Media Trends Study for Automotive Dealerships reported that for three consecutive years now, their study has shown buyers ranking social networks as more important than dealership websites […]

Pitch a VSC in Terms They Can Understand

Most consumers don’t react well to the idea of a vehicle service contract (VSC) since most vehicles automatically come with a manufacturer warranty. And the concept of making monthly payments towards something they might not use also makes buyers shy away from signing a VSC. However, a recent survey released by AutoMD is showing a […]