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 […]
Tag: F&I Managers
How Rising Interest Rates are Affecting Car Sales
The automotive industry is a key part of the US economy and as the Federal Reserve is raising interest rates, it will heavily influence both the demand for cars and the loans that accompany them. Additionally, in today’s economy, car prices are at a record high, causing consumers to take out larger loans for longer […]
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. […]
Mornings with Mark Video #2: Selling VSCs Online
Mark Pierret, Director of Sales and Marketing at Budco Financial, discusses helpful tips & ideas for selling more vehicle service contracts in his latest video series, “Mornings With Mark.” Visit the Budco Financial YouTube channel for even more helpful tips for F&I managers. Successful sales people are able to engage their customers by asking relevant […]
Mornings With Mark Video #1: Understanding the Indifference Quotient
Mark Pierret, Director of Sales and Marketing at Budco Financial, discusses helpful tips & ideas for selling more vehicle service contracts in his latest video series, “Mornings With Mark.” Visit the Budco Financial YouTube channel for even more helpful tips for F&I managers. What is your vehicle service contract IQ? We’re not talking smarts here; […]
Why Collaboration Between Sales and Service is Crucial for Dealership Success
Now, you’re probably already aware that vehicle service contracts (VSCs) are an excellent way to deliver a boost to dealership profits. But, did you know that you could take your VSC sales to the next level with one small change in your process? Creating a culture of collaboration is important to achieving business goals, and […]
One Simple Way F&I Managers Can Be Successful Without Lifting a Finger
Undoubtedly, F&I managers are essential to the success of the dealership. While their primary task is to get deals financed, they must also diligently work to maximize profitability and ensure all of the practices are in compliance. In the midst of offering all of these services, they must also make sure their customers are happy. […]