Profit Drivers

Tips for a Clean Database

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There is a common misconception among dealers that their biggest asset is their inventory.  In fact, your customer database is your greatest asset.  If you don’t have a customer base, you can’t sell your inventory!  Despite this, many dealers have … Continued

Reduce Fraud with Strong Parts Management

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Fraud continues to be a real threat for automobile dealerships, with the most likely target being a dealer’s inventory. That is because a typical parts inventory contains products that can be easily converted into cash. Even though what appeared to … Continued

Keeping your Business Running after a Disaster

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Normally, when business owners think about the effects of a disaster, they envision large catastrophic disasters that affect an entire region. There are many disasters or events, however, that could severely affect your business ranging from power outages to fire … Continued

Warranty Versus Extended Service Contract: Reinsurance

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Finance and Insurance (F&I) departments can generate additional profit for automobile dealers. Commissions from the sales of F&I products, including extended service contracts (ESCs), are one source of additional revenues. Automobile dealers also have the opportunity to participate in the … Continued

Feds broaden crackdown on dealership fraud

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The Federal Trade Commission is broadening its enforcement of car dealerships to crack down on deception and fraud in operations that go beyond advertising. The latest actions, announced today, also target auto-loan application fraud and deceptive practices related to add-on … Continued

How Many Employees Do You Have?

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Beginning 2015, dealerships employing at least a certain number of employees (generally 50 full-time employees or a combination of full-time and part-time employees that is equivalent to 50 full-time employees) will be subject to the Employer Shared Responsibility provisions of … Continued