F & I Sales Process Evolves – One Local Success Story!

I visited Beaverton Toyota prior to Christmas to meet with the Director of Human Resources about our 2016 plans for their 401k that we manage for them.  After the meeting, I visited with some employees I was acquainted with and then I saw an employee in the main showroom.  I introduced myself as the investment fiduciary that operates their 401k plan.

Our conversation provided some great insight into the evolving process of improving F & I sales and improving overall revenue ...

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Electronic F & I Leads to Higher Customer Satisfaction and Increased Referrals

A recent survey of 500 new car buyers by F&I Express and Make My Deal found that an electronic F&I process sharply increases customer satisfaction with the purchasing process and the probability of referring the dealership to friends and family.

The good news is that there is a lot of opportunity in this area as only 100 of the 500 respondents replied that there was any electronic component to the sales process so there are a lot ...

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Can Equity Mining Drive 40% of Your Sales?

Equity mining software enables dealerships to identify past store customers who are in a position to replace their current vehicle with a newer model for about the same monthly payment by looking at several data points in the dealer’s database such as estimated equity in a car, new factory incentives, residual values, interest rates, etc.

In a recent story on Automotive News Brian Benstock, General Manager of Paragon Honda in Woodside ...

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Social Media Strategy for Auto Dealers

The Schomp Automotive Group located in suburban Denver has executed a very thoughtful strategy for social media where they not only create their own unique content on Facebook, Instagram, Google + and Pinterest but have also been able to leverage the social media efforts their business and non-profit partners.   

I am not certain that WHAT they are doing is markedly different from what other dealers are doing, rather their strategy of how ...

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Cell Phone Photos Double Extended Warranty Sales?

There was a recent article on Automotive News that I thought was worth sharing.

“At Buick Store, Service Lane Provides Visuals to Better Sell F&I Products”

Aaron Logan works for Bob Brown Buick GMC as the F & I Manager in their Buick store.

While he has been in F&I for 17 years, in the last six weeks he has nearly doubled his extended service contract sales from a year ago by employing a very clever strategy.

According to the story, Aaron ...

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New Money Market Fund Rules in 401(k) Plans

As mentioned in our May 11, 2015 blog post, the SEC adopted rules that affect many types of Money Market Funds (MMFs) including prime funds.

On October 14, 2016, some MMFs will be able to adopt a floating net asset value (NAV), meaning the value of one share could fall below $1. Affected types of MMFs will be allowed to impose “liquidation windows.” What does that mean? Your employee would not be able to get their money ...

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401(k) Plan Sponsors would be Wise to Examine their Money Market Fund Options

The SEC voted on July 23, 2014 to require floating net asset values (NAV) for prime money market funds. This ruling will also allow some fund managers to charge penalties for withdrawals as well as delaying withdrawals of funds during times of fiscal stress. These new rules take effect October 14, 2016.

Such rules could have serious consequences for an employer’s 401k plan.  While we do not utilize money market funds (MMFs) as an “investment option” in plans managed by ...

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