CrossCheck Blog

Our illustrative expression of the Q3 2017 Cox Automotive Dealer Sentiment Index shows that auto dealerships are somewhat concerned about existing conditions in the marketplace, but more positive about what they expect over the next three months. In addition to their top five concerns, dealers also mentioned pricing pressure, increasing costs of doing business, declining profits, slow customer traffic, and a lack of inventory.

Many people prefer paying by check according to the 2016 Federal Reserve Payments Study. Checks declined by processing companies harm auto dealerships where losing a sale to just one declined check can have far-reaching consequences. For example, one declined check for a down payment could result in the loss of three sales equaling a total of $146,000 if several values are considered (see the below infographic).