The budget advice McDonald’s is handing out to its employees probably would only dedicate enough money to purchase the lowest-end vehicle at a typical buy-here, pay-here dealership. BHPH stores often cater to customers whose primary source of income might be as a worker at fast-food restaurant such as McDonald’s. But the chain recommended the employees […] [Read More]

As regular readers know, I’ve long argued that packs on used vehicles are problematic for dealers in today’s marketplace. First, packs burden every car with additional cost. Velocity dealers know full well how challenging it can be to acquire and recondition vehicles in a manner that allows sufficient margin for a respectable front-end gross profit. […] [Read More]

Toyota Financial Services will soon have a new president and chief executive officer.   The company announced Monday that George Borst is retiring at the end of September, and filling his shoes as president and CEO will be Mike Groff, who is currently senior vice president of sales, marketing and product development. Upon retiring from […] [Read More]

Because convincing a potential buyer to take that next step after seeing or hearing a dealership advertisement can be a challenge, Cars.com offered managers some recommendations on how to refine a call to action. In a recent blog post titled, “4 Steps to Writing an Effective Call to Action,” Thomas Muellner of Cars.com acknowledged that […] [Read More]

If other commercial consignors are experiencing similar lease return trends as what Manheim chief economist observed about Ford Credit in the company’s latest fixed income call, there may be some good news on the used-car supply front. [Read More]

The free upcoming Auto Remarketing Training Series webinar is bringing together experts from Manheim, Dominion Dealer Solutions, Carfax and ShipCarsNow to help dealerships of all sizes improve their used-vehicle departments. The next ARTS webinar is set for 2 p.m. ET on Tuesday. Here is a rundown of the agenda: —Jennifer Ryan, director of inventory solutions […] [Read More]

National Automobile Dealers Association chairman David Westcott emphasized support for diversity in all aspects of vehicle retailing during a recent speech to the National Association of Minority Automobile Dealers at its annual meeting in Miami. Westcott, a franchised dealer in Burlington, N.C., said, “As a national trade association that represents all dealers, NADA is committed […] [Read More]

Stocking the new cars that are most appealing to customers may bring more shoppers out to your lot.. And these very same vehicles are likely to catch more eyes in the pre-owned department when the trade-ins hit the market. J.D. Power’s 2013 U.S. Automotive Performance, Execution and Layout (APEAL) study was released Wednesday, with the […] [Read More]

If there ever was any hesitancy among women to lease vehicles, it appears that is going to change quite dramatically, according to a recent survey from Swapalease.com. The national online car lease marketplace recently conducted an online poll of 700 drivers this spring, and found women have shifted gears when it comes to leasing. The […] [Read More]

Recovery Database Network recently introduced its Compliance Dashboard and Automation Center, a tool aimed at providing lenders with a visually dynamic way to easily assess key recovery performance data and monitor recovery vendor compliance with performance standards. Integrated into RDN’s recovery management software and available to subscribers at no additional cost, the company insisted the […] [Read More]