For the first time, American Recovery Association is hosting an upcoming series of nationwide leadership workshops for repossession agency managers and owners. The events are being presented by Doug Duncan, president of TalentValue.
The first session is set for Friday at the Hilton BWI Airport in Baltimore.
The points Duncan intends to cover include:
—The ability to become an effective leader who thinks beyond the problem
—The tools to hire and retain skilled, successful and compliant employees
—Knowledge of HR compliance and how it will help the company grow
—A variety of practical tools and methods to increase employee productivity
“Managers tend to manage what is given to them, while leaders look ahead and see problems in advance,” Duncan said. “Which would you like to be?”
The cost is $125 per attendee and includes lunch and materials, as well as a certificate that will meet the continuing education requirement that ARA said many clients expect.
For repo agents not able to attend the June workshop, ARA scheduled a second session for July 11 at the Omni Mandalay Hotel at Las Colinas in Irving, Texas.
“Throughout the year, we plan to visit Orlando, Fla., Chicago, Phoenix, and Los Angeles,” ARA officials said.
To register for the workshop series, contact ARA’s office at (972) 755-4755 or homeoffice@americanrecoveryassn.org.
How to convert 3 percent to 5 percent of service-drive customers into sales is the topic of a 30-minute webinar to be presented by NADA University Online on Wednesday.
Complimentary for NADA members, Turn Service Customers into Sales will be held at 1 p.m. EST, with presenter William Hamlin of TEGA Technologies LLC.
Hamlin will discuss how dealers can use TEGA’s Service-Turn Program to boost their parts and service gross, along with CSI and SSA.
Using the Proven Process Technology with their current DMS and CRM, Hamlin will explain how dealers can find trade triggers, prepare customized presentation packets and schedule follow-ups.
Registration for the webinar can be done here.
Shoppers have another option when trying to nail down the best rate for a new car as well as gauge their new vehicle's affordability based on income.
The initial release of the monthly U.S. Auto Buyer’s Affordability Index (ABAI) from Requisite Press LLC gives shoppers and dealers a point of reference when researching new-car gauging affordability.
The new index employs the 20-4-10 auto financing rule, which consists of a minimum 20 percent down payment, a maximum four-year loan term, and monthly payments of no more than 10 percent of gross household income.
“The rule is widely recommended by personal finance experts to maintain financial security, avoid excessive interest costs, and preserve future investment opportunities,” company officials shared.
The new index is designed to provide “regular, ongoing consumer awareness of new-car affordability considerations for improved household financial health,” the company shared.
The company also offered a bit of explanation regarding the past month's index scores.
For April, the ABAI index sits at 52.1, on a scale of 0 to 100.
Explaining the meaning behind the scores, company officials said, “A score of 52.1 indicates that a U.S. median-income buyer following the 20-4-10 auto financing rule can only afford 52.1 percent of the April 2014 new-car average transaction price."
April's number equates to a maximum affordable price of $15,795, assuming a median income of $53,043 and an average transaction price of $30,339.
The company explained with high loan amounts and longer loan durations, affordability information such as the new index is becoming more and more important to consumers.
“The monthly ABAI was developed to enable buyers to easily view current new-car prices in the context of sound financial advice,” the company said.
