VINCUE recently finalized details for a National Corporate Partnership with the National Independent Automobile Dealers Association (NIADA) to help members optimize the inventory lifecycle.
VINCUE will offer its solutions to NIADA members at a preferred price, giving them access to tools and data so they can manage:
—Inventory
—Pricing and appraisal
—Merchandising
—Advertising with VIN-specific targeting
—Vehicle acquisition
—Private market
—Trade-ins
—Online wholesaling and acquisition
—Dealer websites
—Data analytics and reporting
Danny Zaslavsky is dealer principal of Country Hill Motors and managing partner of VINCUE.
“Independents are innovators, unchained, and carry the potential to risk more and achieve higher. These dealerships grow to better their teams, communities, and industry. That is why I love being an independent,” Zaslavsky said in a news release.
“VINCUE has a great relationship with NIADA, and we look forward to helping more independent dealers through the VINCUE platform. It is about helping each other grow and improve,” continued Zaslavsky, who is among the speakers set to appear during Used Car Week, which begins on Nov. 14 in San Diego.
Zaslavsky added that dealerships of all sizes have relied on VINCUE to improve their profits and develop long-lasting relationships with their customers.
And that’s what struck NIADA about making this partnership to help more than 15,000 dealerships nationwide.
“Together, we are going to revolutionize the way our independent dealerships do business,” NIADA member benefits manager Reginald Allen said in the news release. “We’re excited to offer this solution to our dealerships across the country to help them better compete in their respective marketplaces.”
Byrider used technology recently to upgrade the capabilities of its service department. The network of more than 150 buy-here, pay-here dealership locations also leveraged technology to enhance its collections.
While a partnership with Shopmonkey was for the service department, Byrider aligned with Lightico as its digitalization partner for front-end and back-end finance activities.
According to a news release, Byrider’s related finance company, CNAC, struggled to manage a part of its automotive account collections process efficiently. After switching to Lightico’s streamlined document request and eSignature solution, executive said CNAC saw immediate ROI, including:
• 84% of documents were returned by the customer (40% increase from previous solution)
• Turnaround time (TAT) shrank by 86%.
• TAT went from one week to less than one day
“The switch to Lightico has assisted us in lowering operating costs, improving associate productivity, and provided a more positive experience for our customers,” Byrider regional collection manager Timothy Brown said in the news release.
“With Lightico, our agents are able to focus on helping our customers at every stage of the journey in a fast and efficient way. This is key to providing a great customer experience to help them keep their accounts in good standing,” Brown continued.
Lightico’s Digital Completion Cloud is a no-code, mobile-first solution for companies that can enable completion of high-friction interactions with customers including originations and servicing.
Upon receiving the message, customers are able to sign forms and upload documents to a secure mobile (or desktop) session while on the phone with an agent.
“In 2022, it should come as no surprise that customers demand quick, easy and mobile interactions with every process they complete, including their car financing,”, at Lightico chief executive officer and co-founder Zviki Ben Ishay said. “Byrider has digitally advanced its processes significantly and the significant improvements in bottom-line results, efficiency and customer satisfaction are clear.”
Byrider is adding a new tool for the service drive at its 148 locations.
This week, Byrider selected Shopmonkey — a cloud-based auto shop management platform as its newest technology partner.
According to a news release, this relationship is part of a strategic innovation initiative that Byrider kicked off in the wake of the COVID-19 pandemic. Byrider dealerships are deploying Shopmonkey software in all locations to be used by more than 2,000 employees.
All future Byrider dealerships are included in the technology partnership with Shopmonkey, according to the announcement.
This move is the latest focused on technology and investments at Byrider, which during the past two year built a new CRM tool, invested in cloud conversion and launched an online credit application allowing customers to get approved in three minutes or less.
Byrider will soon debut a new customer app that will integrate seamlessly with Shopmonkey.
Executives highlighted Shopmonkey will enhance Byrider operations across all of its dealerships’ service centers and improve workflow efficiencies, so they can better serve and directly communicate with their customers.
“In our continued efforts to give our customers the best experience possible, we began to explore opportunities to upgrade our service software,” Byrider chief executive officer Craig Peters said in the news release. “Some of our franchise owners were already leveraging Shopmonkey and saw significant improvements in operational efficiencies, customer engagement, as well as a boost in revenue. Based on their feedback, our management team and franchise leadership took a serious look at the platform.
“Ultimately, we decided Shopmonkey would be the perfect partner, as our company expands our focus on improving the customer journey through innovation,” Peters added.
Shopmonkey’s all-in-one solution is designed to simplify the complexities of running an auto repair business onto a single platform, including appointment scheduling, parts ordering, customer communications and payment processing.
“Byrider is a strong organization that, just like Shopmonkey, focuses on bringing support to a class of essential workers that are often overlooked,” Shopmonkey founder and CEO Ashot Iskandarian said. “Together, our mission is to empower Byrider franchisees with industry-leading technology that enhances the efficiency of their teams.
“We’re also focused on helping them to up-level their vehicle-owner experience with modern methods of customer communication and transparency. We look forward to continuing to work with the Byrider team to help them scale and grow,” Iskandarian went on to say.
To learn more about Shopmonkey and its auto shop management software, visit www.shopmonkey.io.
Agora Data announced this week that it is continuing as a National Corporate Partner of the National Independent Automobile Dealers Association (NIADA).
The company, whose suite of resources empowers independent dealers and finance companies to finance more non-prime customers, plans to offer NIADA’s 20,000 independent dealers the same advantages typically reserved for big franchised operations.
Agora said it is committed to “leveling the playing field” for non-prime auto finance originators, a market that has long been underserved and underbanked, according to the company
Agora combines its financial solutions with a technology platform that can calculate the book value of non-prime auto paper. Dealers and finance companies now can determine the value of their portfolios using Agora’s patent pending predictive modeling.
With this information, dealers can track the performance of their portfolios and optimize the capital they need to fuel growth by using a line of credit or by opportunistically selling a portion of their contracts.
“A single objective drives Agora — to remove the barriers dealers and finance companies face when attempting to access needed capital,” Agora Data chief executive officer Steve Burke said in a news release.
“As a former buy-here, pay-here dealer, I know firsthand how tough this industry can be for even the brightest entrepreneurs,” Burke continued. “It is amazing how auto loan originators can grow when the odds are stacked against them, so imagine what they can accomplish if these obstacles are removed.”
Burke pointed out that NIADA has been supporting independent dealers for 75 years, so it was important to remain a strategic industry partner.
“NIADA built its reputation on connecting dealers with the most effective solutions providers in our industry. Agora is honored to continue being counted among those trailblazers,” Burke said.
Byrider made a move this week to strengthen its service department.
The chain of more than 140 buy-here, pay-dealerships and franchisees became a part of Openbay and its automotive services marketplace, one of the nation’s largest online consumer platforms for automotive services.
According to a news release, Byrider expanded its online presence and reach to vehicle owners and owners of business fleets in need of vehicle maintenance and repair by joining the Openbay platform. Repair services can now be booked with Byrider quickly and easily through Openbay.
The company said vehicle owners and owners of business fleet vehicles can benefit by using Openbay in several ways, including:
— The ability to quickly and conveniently find and book reliable auto repair and maintenance services
— Access to a wide range of types and brands of service centers (including dealership service centers such as Byrider). All service centers are individually vetted and trained by Openbay staff
— Receive upfront price estimates for common and complex automotive services
— Service center proximity, customer ratings and reviews, pricing information, and amenities are presented to users so they can make informed decisions
By partnering with Openbay, Byrider also is able to:
— Access an exclusive program that’s limited to only a few businesses in each area
— Participate in a new digital customer acquisition platform, gaining access to an unlimited number of consumers having an immediate need for service
— Have appointments automatically delivered to them by Openbay
— Instantly have their brand presented to consumers that match their need for select services
“Consumers today are all about speed, convenience and quality of service. Openbay delivers on all fronts by expanding its nationwide network of trusted automotive service brands to better serve the growing needs of consumers and business fleets,” the company said in a news release.
The announcement also mentioned Byrider also is now part of a soon-to-be announced program called Openbay+, which is by invitation only and provides many benefits when compared to the existing Openbay marketplace.
This week, PassTime announced it has partnered with SourceIT, a security company specializing in IP-based surveillance systems, servers and networking solutions.
According to a news release, SourceIT will bring PassTime asset tracking solutions to its extensive customer base, complementing the company’s existing security and monitoring solutions.
PassTime’s suite of asset tracking solutions is customized to fit unique business needs across automotive, powersports and additional industries. IoT (Internet of Things) solutions connect vehicle and other assets to provide important data to customers to streamline operations and secure and recover assets when necessary.
SourceIT is a division of The Kincaid Group, which is based in Kansas City, Mo. The parent firm owns technology, transportation and development companies throughout the United States.
SourceIT will include PassTime’s GPS and cellular-based tracking solutions to its surveillance and networking solutions, according to PassTime president and chief operating officer Chris Macheca.
“We are excited to add SourceIT to our growing number of market partners. The company’s commitment to providing best in breed technology and integrations matches our own and are looking forward to a great partnership moving forward,” Macheca said in the news release.
For more information, send a message to media@passtimegps.com or visit https://passtimegps.com.
Just like many of the companies it serves, PassTime is diversifying its portfolio.
On Thursday, the provider of asset tracking solutions announced it has formed a partnership with Sky Monitor GPS Americas and managing director Mike Southerland.
As a market partner, Sky Monitor GPS will bring PassTime asset tracking solutions to a variety of new segments, including RV, powersports, construction, medical devices and others, further expanding the company’s footprint.
PassTime’s suite of asset tracking solutions is customized to fit unique business needs across automotive and powersports industries, from franchised and independent dealers to auto finance companies and vehicle fleets.
The company reiterated that IoT (Internet of Things) solutions connect vehicle assets to provide important data to customers to streamline operations and aid in making critical business decisions, such as helping recover lost or stolen assets.
Sky Monitor GPS plans to extend PassTime’s solution, Encore, into previously untapped areas because of its inclusion of Polte’s cloud-based cellular location technology.
Since its introduction in 2019 and second generation in 2020, the battery-powered asset tracking solution, PassTime highlighted that Encore has been widely adopted for its technology, performance, and battery life in a small size demanded by the asset protection industry.
Because Encore is completely self-powered, PassTime pointed out that it can be used in a wide variety of applications, which gives Sky Monitor GPS the opportunity to expand into new markets.
“We are thrilled to have Sky Monitor GPS aboard and helping us reach markets with Encore that we haven’t explored before,” PassTime president and chief operating officer Chris Macheca said.
“We know it is a great solution with endless potential applications, and we know Sky Monitor GPS can help us reach these new segments and new customers,” Macheca added.
Through the partnership, Sky Monitor GPS will be able to serve new markets with Encore and PassTime’s new “Beyond GPS” service, which utilizes dual location technologies.
In addition to GPS, PassTime reiterated that Encore is powered by Polte technology, meaning it is able to provide positioning both outdoors and indoors in cases which GPS location information is unavailable.
For more information, send a message to Southerland at mike@skymonitorgps.info or visit PassTime at https://passtimegps.com.
This week, the National Independent Automobile Dealers Association announced the newest vendor to join the organization as a National Corporate Partner.
According to a news release, VINsmart joined this NIADA group as its newest bronze-level member, offering affordable, reliable vehicle history reports to association members.
NIADA highlighted VINsmart is a product of NOBEL Systems, an approved National Motor Vehicle Title Information System (NMVTIS) data provider.
NIADA said its members will have access to extensive vehicle titling information through VINsmart’s partnership with NMVTIS, the only national motor vehicle titling information system to include data compiled by participating state motor vehicle agencies, insurance carriers, salvage auctions and auto recyclers, ensuring a seamless and informative process in the motor vehicle title search.
VINsmart vehicle history reports provide vehicle valuations from two independent data sources — J.D. Power and Black Book. They also include the latest recall, vehicle lien and theft flag information from NHTSA and NVS.
The VINsmart mobile app also is available on iOS and Android.
As part of the partnership, VINsmart also is offering five free credits to NIADA member dealers who join as new dealers.
NIADA pointed out that VINsmart offers comprehensive vehicle history data and no subscription fees. Its credits never expire and are transferable, offering maximum flexibility.
VINsmart also offers customer service and 24/7 web access, enabling dealers to sell, buy or assess inventory anywhere at any time.
“There are no contracts, no minimums, no monthly subscription fees and less paperwork — enabling dealers to move used cars off the lot faster,” NIADA said.
For more information, visit www.vinsmart.com/niada.
PassTime GPS recently formed a strategic partnership with Polte Corp., in an effort to reinforce its service so dealerships and finance companies can track the location of their collateral more effectively.
Fueled by cloud location over cellular (C-LoC) technology, the companies are collaborating to incorporate Polte Mobile IoT location into PassTime’s line of Encore asset trackers. Together, PassTime and Polte said they will enable buy-here, pay-here dealers, franchised stores, powersports dealers, auto finance companies, plus a wide range of customers in other industries to securely locate vehicles and assets virtually anywhere that GPS becomes unavailable.
PassTime added this integration will allow Encore asset trackers to maintain the lowest power profile at the smallest size possible.
Polte’s multi-patented C-LoC technology can produce accurate cellular location on the market, leveraging ubiquitous 4G and 5G cellular network signals and the Polte IoT Cloud (PIC) to deliver real-time insights as devices move indoors, outdoors and everywhere in between.
The companies explained Polte’s disruptive approach can eliminate the bulk and expense of additional hardware or infrastructure needed for positioning with traditional technologies while saving battery by offloading computational complexity from the device to the cloud.
Together, PassTime and Polte said they can enable the secure location of vehicles and assets virtually anywhere GPS is unavailable.
With completed commercial integration of Polte’s location technology, PassTime said its Encore line of asset trackers that are expected to incorporate Polte’s location technology early this year can fill in the gaps in intelligence left by competitors using solely GPS for positioning.
PassTime went on to say this new partnership should transform the customer experience. For example, the company said the partnership means cars can be recovered more quickly or located if parked indoors or in parking garages. This possibility can streamline operations and cost of capital, cutting down on the time required to search for missing assets.
“Selecting Polte’s Mobile IoT location technology as an augmentation to our Encore product line was simple,” PassTime executive vice president and chief technology officer Todd Goodnight said. “Taking advantage of Polte not only allows us to unlock precise location and indoor visibility where GPS falls short, but reinforces our value promise: providing long battery life trackers that are compact, easy to use and require no installation. Our customers will now have everything they need to safeguard vehicles and precious assets against loss or theft.”
Powered by Polte, PassTime Encore trackers will incorporate WNC’s 5G compatible LTE-M module containing a Sony Semiconductor Israel chipset, utilizing both Mobile IoT hardware partners to deliver massive scale, security and power savings for a variety of customers looking to connect their vehicles and protect their assets
“We are excited to work with PassTime to offer unprecedented location intelligence to the automotive industry,” Polte chief executive officer Ed Chao said. “Due to Polte’s use of cellular networks for positioning, the evolution of Encore will only become more powerful with the expansion of 5G. Together, we are setting the new standard for vehicle asset tracking.”
To learn more about Encore or to place an order, visit passtimegps.com/solutions/encore or contact the PassTime team at info@passtimegps.com.
It’s November, meaning it’s tax season for some buy-here, pay-here dealerships.
To help operators who use this strategy, tax preparation specialist Tax Max has renewed its National Member Benefit partnership with the National Independent Automobile Dealers Association, providing exclusive offers for tax-season services to association members and their customers as an especially important tax season approaches.
“This will be the most important tax season ever for dealers because the 2020 tax refund might be the only government funding source for their customers in 2021. So dealers must be ready to capitalize,” Tax Max president and chief executive officer William Neylan III said in a news release.
“Consumers will need to tap into their tax refunds as early as possible to purchase cars and assist with their car payments, and that’s where Tax Max comes into play,” Neylan continued.
Tax Max has processed more than 1 million tax returns and has helped more than 3,000 dealerships nationwide be more successful during tax season by filing their customers’ tax returns and forwarding the refund to the dealership to be used as a down payment on a vehicle or as payment on a past due account.
In addition, Tax Max offers several non-traditional tax programs, including a fourth-quarter early tax season program, a collections program, a repair note program, the Drive Now Network tax season leads program and an irregular payments program that can help BHPH dealers leverage tax season 365 days a year, providing hundreds of thousands of dollars in cash flow.
NIADA director of business development James Gibson said, “Tax Max resources are more critical than ever with the uncertainty of the economy and government stimulus packages impacting our members’ sales cycle and corresponding cash flow."
Neylan added that the partnership with NIADA will allow Tax Max to educate more dealers about the changes of tax season and provide help.
“In this economic environment, consumers don’t know where they’re getting their next disposable dollar,” Neylan said. “This partnership allows us to provide dealers with the tools and information they need to be successful.”
For more information, visit www.taxmax.com.
