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Indecision: Silently Draining Profits at an Auto Dealer Near You

Posted by Kevin Walli | Wed, May 14, 2014 @ 10:00 AM

Auto Dealer IndecisionKudos to the NFL. We're talking about them in the middle of the off season! The draft, freshly completed at Radio City Music Hall in New York City, was the ultimate game of decision making.

All of the teams now have their future superstars, or draft busts, in place. The impact of these decisions are felt for years to come as the teams’ fortunes ride on their ability to select the talent that will lead to success or disappointment. Even with all of the research, the combine and pro days that the teams put the players through, tough decisions will be made, right or wrong.

That was certainly the case in the 2000 draft. That year six quarterbacks were drafted before the New England Patriots took Tom Brady in the 6th round. The six drafted ahead of him were: 

  • Chad Pennington, New York Jets
  • Giovanni Carmazzi, San Francisco 49ers
  • Chris Redman, Baltimore Ravens
  • Tee Martin, Pittsburgh Steelers
  • Marc Bulger, New Orleans Saints
  • Spergon Wynn, Cleveland Browns 

Never heard of them? Well, at the time the general managers who drafted them thought they were making the right decision. But Tom Brady was the only one to go on to appear in multiple Super Bowls and to win three of them. 

General Managers make decisions every day that affect the viability of their dealership. Competition is fierce. Profits can surge or slump. Business decisions that may affect long term growth are more difficult and are often tabled due to anxiety, lack of information or even ego conflicts. Putting off these important choices may cost dealers money or allow their competition to leap ahead. 

So how do you find Tom Brady, the diamond in the rough, out of all the choices available to you? 

Those GMs willing to make decisions start at the bottom line, but sometimes inertia seems like loyalty, and you may stay in a rut with a vendor because, once upon a time, they were your “first round draft pick.” So you have to decide, “Am I retaining an under-performing service vendor just because I picked them in the first round? Is this really the guy I need?” 

When it comes to accepting down payments for your new or used cars, take into account the fact that the game is played differently now. The prevalence of credit cards has dropped by nearly 64% and Americans have reduced their outstanding debt by $1.3 trillion, so it’s not all about credit cards anymore. You need to accept checks, especially since Americans prefer to make large purchases with checks, and you want your check processor to be a Tom Brady-level player on your team. 

The bottom line can clarify if he is or not. Does your vendor give you all of the tools available to close every sale? Does your vendor give you the flexibility to meet a prospect’s needs today -- right now -- before she jumps on that “be-back bus?” Does your vendor guarantee their work so if something goes wrong your cash flow and your business are protected?  If your current vendor’s answers make you feel like you drafted Carmazzi or Redman, you might want to re-open tryouts, search for a better service and... make a decision! Yes or no, but no maybes. 

Your customer’s readiness to pay is like a game-winning pass into the end zone – and you want a quarterback like Brady who will close the deal. When the pressure is on, it is nice to be armed with the tools you need to succeed, such as the lowest check decline rates in the industry, a rock-solid guarantee for approved checks, and multiple check to help increase sales. Learn more here.


auto dealer remote deposit capture

Topics: Auto Dealerships

Written by Kevin Walli

Kevin Walli is an award-winning graphic designer with 18-plus years of experience in graphic design, web design and photography. Flexible and creative with an excellent sense of humor, Kevin enjoys spending time with his family, photography, reading, music and sports.