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F&I eNews Tuesday May 15, 2012

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Latest News

[Video] F&I’s Do-Not-Say List
Sales are lost every day because of a few words uttered by salespeople and F&I managers. United Development Systems’ Gerry Gould provides a list of words you should avoid at all cost. Read Full Story


IAS to Sell LoJack Products
Innovative Aftermarket Systems will now rep LoJack's vehicle recovery and early warning systems through its network of general agents, the two companies announced yesterday. Read Full Story

Ally’s ResCap Files For Bankruptcy Protection
Ally Financial announced yesterday that its mortgage subsidiary filed for Chapter 11 bankruptcy protection in New York. The company also is exploring the possible sale of its international operations. Read Full Story


Mass. AG Settles With Auto Dealer Over Deceptive Ads
Massachusetts Attorney General Martha Coakley and a family-owned franchised dealership have settled a complaint over ads the regulator deemed deceptive. Read Full Story

Auto Sales to Hit 14.5 Million in 2012
A recent report from asset management firm Alliance Bernstein highlighted strong sectors in the U.S. economy, one of which is retail automotive sales. Read Full Story


CNA Exec to Speak at CIO Conference
Brian Pendergast, CIO for CNA National Warranty Corp., has been invited to serve as a panelist at the prestigious CIO Perspectives event in San Francisco on May 16. Read Full Story

Vets-Cars and Coastal Credit Announce Partnership
Vets-Cars Group announced a new partnership with Coastal Credit LLC, a new- and used-vehicle lender to military and civilian consumers. Read Full Story


LEAP Financial Scores High in Customer Satisfaction
Eighty percent of LEAP Financial’s credit-challenged customers would recommend the vehicle leasing company, according to a customer satisfaction survey. Read Full Story

CAR-Research XRM Adds ‘Prospecting the Household’ Feature
The company's new CRM feature provides scripts that can turn showroom salespeople into BDC or Internet sales staffers. Read Full Story

Advertisement

cuautocoupon Adds Three California Credit Unions to Network
cuautocoupon Inc. announced the signing of its third California credit union to its growing network, and the addition of more than 20 dealerships in that state. Read Full Story

Blogs

Mad Marv

Longing, Not Loathing
The magazine’s from-the-trenches blogger describes how his days as a spitfire preacher influenced his style in the F&I office — and not the way you might think. Read or Respond

Marv Eleazer
Finance Director
marv.eleazer@bobit.com


Featured Stories
The May issue of F&I and Showroom magazine is here. Check out our cover story on Sayville Ford, and how a decision by its third-generation dealer saved this five-decade-old store. The editor also goes one-on-one with the executive team at Wells Fargo Dealer Services to find out about its new approach to consumer lending. A reinsurance expert also issues a stern warning to dealers and F&I product providers about the companies with which they do business.
<p>Dealer Melanie Spare-Oswalt (r) leaned on MarketResource rep Nicole Avellina to get her store back on track. Avellina, whose F&amp;I consulting firm was hired by Ford ESP to install new sales and F&amp;I processes at about 800 Ford stores, arrived at Sayville Ford in the spring of 2010.</p> From the Top Down
For the better part of three generations, Sayville (N.Y.) Ford succeeded on gut instinct and a great reputation. But surviving the Great Recession would require a new approach, and the store’s new boss was more than willing to accept the challenge. Read Full Story
Swimming With Sharks
A reinsurance veteran reminds dealers that business partners are best judged by the companies they keep, and details an incident that should serve as a warning to all. Read Full Story
<p>Tom Wolfe</p> The Local Approach
The editor sits down with the executive team at Wells Fargo Dealer Services to talk about their new relationship with General Motors and the company’s new approach to consumer lending. Read Full Story
Keys to the Sale
The cost to replace car keys is increasing as the technology embedded in them advances. The magazine’s F&I expert offers this primer for selling key replacement programs. Read Full Story
<p>Pictured is the grading sheet Steve Veldkamp employs when using video recordings as a training tool at his clients&rsquo; dealerships.</p> Record, Review, Reward, Repeat
Using video for training can be helpful, but it can also hurt you if not used properly. Check out this six-step guide to effectively employing video for training. Read Full Story
Facts, Anyone?
Stories about dealer practices that harm consumers are prevalent, but the facts seem to be difficult to come by. Read Full Story
The Hiring Test
The cost of employee churn can exceed $10,000 per position, which is why the magazine’s HR expert says dealers need to have a plan before they expand. Read Full Story
Finding the Digital Sweet Spot
Marketers say they will direct more ad dollars toward social media and mobile marketing this year, but they admit to being a bit perplexed as to which digital channel is the most effective. Read Full Story



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If you would like to send us comments or questions regarding our e-news alert, magazine or the F&I industry, please e-mail Gregory Arroyo at gregory.arroyo@bobit.com.

Prepared by:
Gregory Arroyo
Executive Editor
310-533-2592
greg.arroyo@bobit.com









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