Car Dealers Find The Parts Market

A car dealership has long been the place you go to buy a new car. Recently, car dealers have become brand outposts, offering a variety of post-sale services from manufacturer-certified mechanics and repair shops to acting as retailers of Original Equipment Manufacturer parts. Manufacturers have realized that the sale is just the beginning of a … Continue reading “Car Dealers Find The Parts Market”

A car dealership has long been the place you go to buy a new car. Recently, car dealers have become brand outposts, offering a variety of post-sale services from manufacturer-certified mechanics and repair shops to acting as retailers of Original Equipment Manufacturer parts. Manufacturers have realized that the sale is just the beginning of a customer’s relationship with the brand and increasingly rely on car dealers to ensure a smooth ownership experience.

The Rewards of Loyalty

Manufacturers realized that buyers stay loyal to a badge as long as the brand retains its positive image. Customer loyalty is even more ingrained than it was previously, and most customers only switch brands after a negative experience. Manufacturers began to focus on ensuring that car dealers delivered a reliable, standard, uniform sales experience across product lines. Buildings, uniforms, processes, and advertising were all standardized.

Service

Ownership doesn’t end at the showroom door. A bad experience with a car, even if it is unrelated to a manufacturer’s defect, could cost a customer for life. As a result, certified services are now offered through dealerships. Technicians must pass a series of qualifying procedures to allow them to perform work on vehicles that will be backed by the company. This ensures uniform quality and control at any branded dealership. Service performed under these conditions also preserves the vehicle’s warranties and is visible throughout the company via a universal service record. This can enhance the resale value as well as maximize the utility of the car over its service life. Additionally, any maintenance performed by certified technicians is usually warranties through the company as well, adding another layer of protection for current and future owners.

Parts

An ownership experience could also be jeopardized by the use of shoddy or knock-off parts. To encourage the highest standards of performance, car dealers structured their operations to include becoming a regional distribution hub for OEM parts. As a result, many dealerships now have extensive parts inventories for their mark, sometimes to the tune of millions of dollars worth. This coordinated effort ensures that branded vehicles run at their peak engineered performance for the duration of their service lives and minimizes the risk that a customer will encounter a poor ownership experience for any reason that can be controlled by the retailer.

Many consumers are unaware of these changes and hence do not utilize them to their full advantage. Using manufacturer-certified services and parts can extend or preserve vehicle warranties. Maintenance performed by car dealers, as well as the certified technicians they employ, ensures that the vehicle continues to perform at the highest level possible. Company-issued updates, recalls, and parts all reach customers through the extensive databases maintained by service departments as well, meaning that the latest technology is available most directly to those who utilize their dealership. Taking advantage of post-sale benefits is an often-overlooked perk of brand ownership.

When You Should Look For A Good Bankruptcy Attorney

Life has its own twists. Unfortunately you are not really ready for it. There are times when you are in debt and you have to pay huge bills. Debts can keep on increasing for many reasons. The reasons are sometimes logical. It can end up becoming a huge amount of money which a person fails to pay. Now let’s discuss on the most important facts which can put you in a financial crisis.

Thanks To The Medical Bills

One of the very first things which every person fails to pay is the medical bills. Hospital bills keep on increasing depending on the kind of accident or illness you have. The worst thing is you don’t have any idea how much you have to pay. Moreover, you cannot control it. They are very expensive and a costly affair for most people.

The cost of surgeries, x-rays, emergency room visits are huge. Modern hospitals have the best medical equipment which is quite expensive. What they do is pass down the costs to the patient. This is when you need a bankruptcy attorney who can help you get out of the mess.

Credit Card Debt

Credit cards are one of the major reasons of the increasing debts. Unfortunately, people decide to get a credit card so that they can cope up with the small debts. But the purpose is not served in the right way. They prefer using the credit card during an emergency or when they have zero cash.

Credit cards are a very convenient option and you can use it when the need arises or you don’t have instant cash. The only difference is that you have to pay a price. Interest rates can also maximize your credit card debt. It adds up to the amount quickly and people find themselves in a financial crisis. Hire a bankruptcy attorney who can offer the best help.

The Right Solution To All Your Problems

For those who are encountering debt issues this is the very right time to look for a bankruptcy attorney. They have experience in all the different kind of bankruptcy laws. They have the right skills, knowledge and experience to help you resolve the debt issues.

It gives you peace of mind when you are in a financial crisis. They can reconcile your debts through a court-approved payment arrangement which can help you deal with the things easily. Keep all these great tips in mind when you are bankrupt.

Auto Sales Training: Business Advantages of a Car Sales Course

Auto sales training is normally carried out in-house, but there are many business advantages to be gained from an external car sales course provided by a specialist training company. Whether it is for your staff or yourself, such courses can offer more than just how to deal with prospective customers. Here is a quick resume of how such a course can benefit you or your sales staff.

Learn the Business

Experienced sales staff can recognize a stroker or flake almost immediately they walk on the lot, but do you even know what these terms mean? Most people learn how to sell cars and talk to potential buyers on the job. However, comprehensive auto sales training will accelerate this learning process and get you selling more cars faster.

Yes, experience is invaluable, but even experienced sales personnel benefit significantly from a structured training course where their skills can be fine-tuned to maximize conversions. It also helps to understand the psychology of the prospect. Most will be looking for a bargain, and will walk into a dealership expecting to pay less than the MSRP.

How to Approach Prospects

The way you approach a prospect on the lot can make or break a potential sale. Too pushy and you might scare them away. Too hesitant, and you might fail to make the sale. Some people need to be talked into buying a car while others prefer to walk around themselves until they see something they like.

A car sales course can show you how to identify each type of prospect, and how to approach and talk to them in a way that gains their confidence. Some customers might try to hide the fact they like a particular car by pointing out its faults. If you know how to spot these prospects, you can more easily talk them into buying.

Technical Aspects of Auto Sales Training

All car sales staff should understand every aspect of buying and selling cars, including essential financial and technical details. You or your staff must be aware of all the financing deals available on every car on the lot, details of insurance and any local or state regulations regarding car purchase and finance.

Servicing and warranties are two critical aspects of selling a car. Most car courses will show you that these two factors can make the difference between clinching a sale and the prospect walking off to look elsewhere.

You must also understand the common aspects of each car you are trying to sell: engine capacity, horsepower and even its state of repair. You should also know how a hybrid works, and the difference between diesel and gas engines. Which is ultimately most economical and which type of engine gives most power, what type of car is best for long distance driving and which is best for town. If you display such knowledge then potential customers will come to trust you more.

Keep Current with a Car Sales Course

Times change and so does the knowledge of potential buyers. Prospects today are more aware of your sales tactics than they used to be, and it is a must for you to be aware of this. They are also more aware of what to look for in used car, and how to spot frame damage. In order to become a truly successful car salesperson, you must be prepared for the common and not so common questions that you may be asked.

You must keep also up with changes in legislation, insurance and finance. It is highly likely your customer will have researched finance options in particular, and also ask questions about service and warranties. Auto sales training will likely show you how a lack of knowledge of warranties and service agreements can stop a sale stone cold dead.

A car sales course will teach the most common, and some not so common, reasons for you failing to persuade a prospect to buy. This itself will improve your sales figures, and keep in mind that just one extra sale will likely pay the cost of such courses.

High Rate Loans – Pros and Cons

If you do not know the term “Pay Day” or its variations, consider yourself lucky. At least financially.

The term “Pay Day” is a euphemism. Let us first define it for what it really is.

Payday lending is a form of short-term lending without collateral to people with little or no liquidity, or a bad credit rating. Pay Day is a generic term. Companies in this form of lending go by other names, such as Cash and Go, Advance Pay, Loan Up and Cash Carry. Sometimes these are also called Accommodation Loans or Instant Cash.

Whatever the name, here is a statistic to show how prevalent they have become in a few short years (probably last ten years) in the US. There are some 22,000 companies in Pay Day business, making $40 billion in loans and collecting $6 billion in interest and fees. This number may already be dated, since more companies are coming on line.

REASON FOR PAY DAY POPULARITY

Here are the reasons:

As a business model, it is proven to be resilient and profitable. Diverse portfolio, small exposure, short term nature of the loan and catering to a sector few traditional lenders touch.
With Americans’ incomes not keeping pace with inflation, and increasing illegal immigration, there is growing need for Payday type loans as more and more people live from paycheck to paycheck.
While there is State level regulation on Payday practices, this form of lending is highly unregulated and as yet unchecked in any real form by Federal government. And State supervision is spotty. So no wonder new Payday type lenders are cropping up all over.
Because of small loans and not much oversight, entry barriers are low.

PROS AND CONS

Pros:

Easy terms, no collateral
Negative credit history is not an obstacle
Very local
Caters to a segment of population which has no other alternatives to cover their expenditures or budgets

Cons:

Very high rates of interest (although many States have Usury laws, so Payday lenders skirt it by calling these “fees” or “service charges”
Addictive. Since money is easily available, there is less incentive to save and forgo certain expenditures
Does not improve borrower’s credit history–whereas getting credit from a traditional source, even a store, and paying it down regularly will actually improve your credit rating and open up other doors to borrowing

WAYS TO AVOID PAYDAY

Get in the habit of budgeting your income and expenses and do it conservatively. This will help you manage your cash flow and enable you to predict it—that way you can find ways to either boost your income or reduce expenses. It also will help you to prioritize your expenses
Diligently note down your expenses
Try to put internal limits on when to use a credit card. I advised someone to not use a credit card for single-shop charges below $25. It is amazing how quickly she realized money was flowing through her hands. She never appreciated this when flashing credit cards, and making minimum payments.
Pay off all or most of credit card balance each month. Credit card companies are only a slightly softer version of Payday lenders.
I prefer loan from a friend or from family although I realize it is not always possible
Treat Payday as the absolute last resort, before bankruptcy. That will help you strengthen your resolve to avoid them as long as possible
Get Credit Counseling. Like someone who wants to lose weight must seek professional help, if you are unable to balance your checkbook, you need to see a professional financial advisor.
See if you have an asset that can be monetized. It may be jewelry you do not use or a house bigger than you can afford. This is the absolute first step to repairing your financial health.

Ask Yourself: Are You Relevant?

I have been thinking about this for quite a while. Have you ever asked yourself the question: Am I relevant?

What does it mean to be relevant? When I ask myself this question I think of the people I look to when I have a question. If I reach out for an answer from someone; I must believe in one way or another they have relevance to the answer I want or need.

If I have a problem with my car, in most cases, I typically will not go to my banker for an answer. I don’t go to my banker because I do not feel this individual is relevant to my question. On the other hand, I would not go to my doctor if I wanted an answer regarding a Certificate of Deposit or CD (not to be confused with a music CD). And I would not go to my auto mechanic if I had a back problem.

When we have questions we look to those who can possibly help.

Taking the scenarios above one step further; I might go to my mechanic when I have a back problem if I’m looking for a referral and I know my mechanic recently experienced back problems and the doctor had remedied the situation. My mechanic just became relevant because of recent experience and knowledge of someone who might be able to help me.

The same goes for the other scenarios above; there may be relevance but a different kind of relevance; they may not have the answer, but may have the ability to lead you to the answer.

Now we go back to the initial question. Are you relevant? Do people look to you for answers to their questions? Do they look to you when they need a referral? Do friends, family, co-workers, customers, supervisors, etc. turn to you when they are looking for answers?

For example if you work on a manufacturing line, do people come to you with questions regarding the operation of the line; if so, at least this individual believes you to be relevant. In this manufacturing role; do supervisors or managers ever come to you with questions regarding the line or seeking advice on the operations of the line; if so, you are relevant to even more people and to people who may be higher than you in the organization.

Maybe the questions presented to you are not directly related to your job or maybe they are completely unrelated; meaning you are considered a relevant or reliable source about something other than your day-to-day work. You may have relevance because of a hobby, a sport’s interest, family experience, visiting a certain city or area of the country; whatever it is something where people look to you for answers; makes you relevant.

Why is this important; you may be trying to advance your career and being recognized as relevant can go a long way toward reaching your career objective or current goal? You may be starting a business and relevance to your customers is critical to the success of your business.

The information you possess may make you relevant to other individuals or groups that are attempting to solve a problem and you are able to expedite the process because of your knowledge. These individuals may be prospective customers, suppliers, business partners, or may simply be someone who works – as Malcolm Gladwell identifies in his book, “The Tipping Point” – as a connector; one who brings others together.

Possessing knowledge or additional information makes you special and makes you someone people want to know better, you have become a person of interest.