Posted by Brandon Weaver on Thu, Jul 26, 2012 @ 04:00 PM
With General Managers sitting at the top of the staff hierarchy, they are the ones most responsible for consistent cash flow and for making sure the auto dealership remains profitable. This powerful position requires them to always look at financial statements to make sure accounts receivable outweighs accounts payable.
One way auto dealerships can stay out of the red is to continue accepting checks as payment. Almost everyone has a checking account and many consumers prefer to write checks because of their familiarity with them. Meanwhile, making it easy to write checks can increase sales from these consumers and that translates into higher revenue.
Check payments are a viable option for customers because automotive sales tend to be high ticket dollar amounts. Many people prefer not to carry large sums of cash or worry about placing large purchases on credit cards due to high interest rates. With that said check payments avoid both of these pitfalls and can be accepted with less worry when a check guarantee service is in place. Check guarantee is a program that General Managers at automotive dealerships appreciate for the following reasons:
- Check payments are approved within seconds at the point of sale
- Returned checks can be submitted as a claim for reimbursement
- Programs such as Multiple Check offer payment flexibility
Check guarantee is an important service to implement because it helps simplify check payments and reduces the headache of a returned check. Checks can be guaranteed at the point of sale through a terminal, phone or Internet. Listen to what check guarantee continues to do for Kevin Massie, the President of Napa Ford Lincoln: he enjoys check guarantee plus along with Multiple Check and Remote Deposit Capture:
By definition General Managers have a lot on their plate to be responsible for. Of utmost importance are accounts receivable and profitability. Check guarantee services let them accept more checks with less risk. This keeps the auto dealership growing, just like Napa Ford Lincoln. For more information on check guarantee and Multiple Check premium benefits, we encourage you to read the guide below or fill out this short form.