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Brandes Elitch

Brandes Elitch is Director of Partner Acquisition for CrossCheck Inc. A certified cash manager and accredited ACH professional, he garnered a Master of Business Administration from New York University and a Juris Doctor from Santa Clara University.

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Recent Posts

2019 NADA Show Presents Solutions for Auto Dealers

Posted by Brandes Elitch on Fri, Feb 15, 2019 @ 07:45 AM

I just returned from visiting the 2019 NADA Show, a four-day annual conference by the National Auto Dealers Association (NADA). This year’s event was held Jan. 24 – 27 at Moscone Center, a complex composed of three buildings on 87 acres in downtown San Francisco. This is a really big show with 22,000 attendees, including 10,000 new auto dealers from all over the country. The tradeshow floor is enormous, and some individual exhibits are the size of small department stores.

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Tags: Auto Dealers, NADA

Six Top Key Performance Indicators at New Car Dealerships

Posted by Brandes Elitch on Fri, Jan 18, 2019 @ 09:45 AM

There are about 18,250 new car dealerships in the United States. They range from the largest multi-store publicly traded companies to small stores serving rural communities across the country. New car dealers employ over two million people, and they are also a very big part of the national fabric as well as the country’s gross domestic product (GDP).

In 2018, these dealers sold 11,786,069 new trucks and SUVs, an increase of fully 8 percent in this segment over 2017.

They also sold 5,488,181 new passenger cars, a decline of 13 percent from the previous year.

The average price of a new vehicle is $36,000. If you multiply 17 million by 36,000, you will see the extent of what new car dealers contribute to the American economy. My calculator doesn’t go that high.

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Tags: Auto Dealerships

CrossCheck’s Plus Sales: Where the ‘Buck Stops’ in Check Guarantee

Posted by Brandes Elitch on Mon, Jan 07, 2019 @ 06:45 AM

At CrossCheck, our primary business is helping merchants make a sale when a consumer is standing in front of them. Since the completion of a sale often hangs by a thread, this sense of urgency is the inspiration behind our Plus Sales service — the place where the proverbial “buck stops” in the realm of check guarantee. Let me explain.

If you have ever worked in retail, you know that you generally have only one shot at making the sale. If the consumer says, “I’ll be back later,” well, as we say around here, “The be-back bus doesn’t stop here anymore.”

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Tags: Plus Sales

What is the Most Common Form of Payment?

Posted by Brandes Elitch on Wed, Dec 19, 2018 @ 02:25 PM

As an ISO/MSP, you are accustomed to people asking for advice about all the things happening in the retail payments space, including questions such as, “What is the most common form of payment?”

And you are probably accustomed to hearing things like:

  • No one writes checks anymore.
  • Cash is going away.
  • Everybody is using mobile payments now.
  • Soon we will have real-time payments for everybody.
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Tags: Independent Sales Organization (ISO)

Do Car Dealerships Prefer Checks Over Credit Cards?

Posted by Brandes Elitch on Wed, Dec 05, 2018 @ 11:45 AM

American consumers have an intimate relationship with their credit cards. Most don’t really understand the numbers that drive this business for the banks that issue the cards, or who pays the “freight” to keep it going, especially at car dealerships. This article will provide an overview of who pays what to whom, and how much they pay. You will be surprised.

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Tags: Auto Dealerships

Auto Subscription Services Will Change the Way People Buy Cars

Posted by Brandes Elitch on Fri, Oct 26, 2018 @ 07:45 AM

“Eighty percent of companies see a change in how their customers want to access and pay for goods and services, and 50 percent of these same companies are changing their pricing models as a result.” – The Economist

Life used to be simple, or maybe just simpler. People bought new cars every few years because car loans typically carried three-year terms. They traded in their old cars at dealerships. The manufacturers (they used to be called the “Big Three”) introduced new models every September, and crowds of people would go to the local dealer on the day they were unveiled. It was an exciting period, but cars purchased three years earlier suddenly looks dated, and people thought about trading them in on new models. This used to be called “planned obsolescence,” although that is a loaded term and somewhat misleading.

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Tags: Auto Dealerships

The Rising Cost of Auto Insurance & How Dealers Can Help

Posted by Brandes Elitch on Thu, Oct 18, 2018 @ 10:45 AM

Studies show that the average car repair bill has gone up by about 30 percent over the last three years while auto insurance has risen almost eight percent just last year. Why did this happen and will there be enough left over in consumer coffers for them to buy new cars? Auto dealers can help, but the how and why may surprise some readers.

Well, the increase in auto insurance has to do with “safety technology.” In a low speed collision, typically in a parking lot, the parts of the car most prone to damage are the front and rear bumpers, which of course are not really bumpers anymore.

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Tags: Auto Dealerships

The Worst and Best Practices for a Used Car Dealer

Posted by Brandes Elitch on Thu, Sep 27, 2018 @ 08:45 AM

It was Thursday, September 19, a warm day in Los Angeles.

We were working the day watch out of Bunco.

My boss is Captain Di Donna. My partner is Travis; he’s a good cop. My name is Joe Sunday.

We got a call about a scam at the Buy Here, Pay Here used car dealer in Universal City. We checked it out. The suspect was in the back lot, selling a used car to an elderly couple.

The female victim approached us and said, “It was terrible, officer; just terrible.”

Please, ma’am, just the facts.

“I’ll give you the facts,” she said. “I drove by this lot on the way home. There were balloons and free cake and cookies. The sign said, ‘FREE FINANCING.’ I decided to check out a car that fit my budget.

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Tags: Auto Dealers

The Emotional Experience of Buying a Car

Posted by Brandes Elitch on Wed, Sep 26, 2018 @ 01:33 PM

Buying a car is the second most expensive purchase most people ever make, second only to buying a home.

Buying a home is emotional, but not as emotional as buying a car. It seems like it should be the reverse. In this short column, we will explore why this is the case.

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Tags: Auto Dealers

How Do Old Cars Become Classic Cars & How Do You Get Them Repaired?

Posted by Brandes Elitch on Mon, Jun 25, 2018 @ 11:45 AM

There’s a lot of interest in collecting old cars and classic cars these days. How does a collector know the difference between one that is just old and one that qualifies as a classic, and more importantly, how do they get them repaired?

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Tags: Auto Repair

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