Independent Dealer Financing
F and I in a box!
Independent dealers have many challenges including;
- Financing Many banks won't work with independent car dealerships leaving the used car dealers with limited offerings to make car deals happen for their customers.
Every independent knows that an important part of their business is F and I, yet most independents cannot afford a quality F and I person because they lack the volume to keep that person busy and pay them enough to keep them. Continual training and turnover cause many headaches in the finance department as paperwork is compromised, deals get left hanging and missing stips, etc. As a result, many default to using sales people or a sales manager for this task which reduces backend profit and is nowhere near as efficient as a fully functional F and I department. Working with the banks to get approvals is not as efficient when one person is trying to do all aspects of a sale. If the sales person or sales manager is busy calling the banks, then they are not calling that lead or the customer they have been trying to for the next sale as often as they should. They are not spending the time finding the right car for the next deal. The sales people worry more and more about the price of the warranty rather than protecting the dealership with the right product for the inventory. Unscrupulous managers and F and I take spiffs and get paid under the table to sell a lesser warranty than what should be sold to protect the dealer. Sometimes the owner is aware and many times not. This alone cuts into backend profit heavily.
- Compliance Most independents come nowhere near compliant with all of the rules and regulations surrounding their business. This is much of the reason banks are pulling out of the independent used car dealer.
- CRM Most independents have systems that require multiple inputs to populate it with vehicles and important data and are desperately in need of simplification. Corners get cut and vehicle descriptions suffer.
- Inventory Logging into multiple systems to see all inventory, get vin, find the proper vehicle for a deal, let alone know if there is an open workorder on the vehicle when you start working on the next deal. Wouldn't it be easier when desking a deal to put in the 500 payment, or the color or style of the vehicle the customer wants and have all cars that would fit that profile show up? Wouldn't it be nice to only input the vehicle identification number one time rather than have to input that data in multiple areas. This becomes a nightmare when trying to get your vehicle listed properly on the internet.
- DMS Marketing Are your vehicles listed with all of their important information? Can you easily get them out to your marketing sites and your own website? Can you easily print window stickers or mirror hangers for every car? Do you have personalized customer brochures or other tools to demonstrate how your dealership is a notch above the rest?
Experience the only turnkey F and I solution that can improve all areas at once, simplify your life, give you total control and improve profits. We provide everything you need to simplify, improve and become more compliant, improve backend product sales and net profits, improve finance opportunities, reduce your frustration and allow you to focus on selling more cars. Call today to find out how!