J.D. Power reported there were fewer than 15,000 units sold in the entire U.S. wholesale auto auction system in the first week of April. Dealers are buying cars inexpensively online. There is optimism in the industry about the recovery from the pandemic and the demand that will follow. A growing number of dealers believe there [...]
Jenn Reid, Equifax's VP of Automotive Marketing and Strategy, said in the NIADA's May issue of Used Car Dealer magazine that the credit reporting industry strongly encourages lenders and creditors in working with customers to take full advantage of reporting guidance and report the accommodations given to consumers accurately to the credit reporting agencies. The [...]
The Internal Revenue Service says the Employee Retention Credit under the CARES Act encourages businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19. Where can I get more information? Employee Retention Credit [...]
Tim Kintz is the President of the Kintz Group and a best-selling author. He offers his process that leads to a satisfying close that he said works with any customer: Reassure the customer. Show them they're not in for a bad experience. Get to know them, what they're looking for and go the extra mile for [...]
In the April 2020 edition of Used Car Dealer Magazine, motivational sales speaker, trainer and author John Chapin laid out some sales techniques that can apply to car dealers. Build relationships. Salesmen are most effective talking to people over the phone or in person. Know the sale process. Stay active and talking to customers. Spend [...]
Use the "About" section to your advantage. Complete this section with as many details as possible. People shopping for cars want to know if you're nearby and (if you are) how to contact you! Moderate your comments. Don't let trolls drive people away from your page. Hide or delete people abusing your page. For disgruntled customers, send [...]
A total of 94 used motor vehicle dealers in Georgia were inspected in March by state officials. Records show 27 of the 94 were fined a collective total of $32,000. Individual fine totals valued anywhere from $250 - $5,500. Stay up-to-date on used motor vehicle dealer industry news by following the TDS Insider blog.