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Virtual Auto Dealer Options

Posted by Al Arco on Fri, Sep 11, 2020 @ 09:23 AM

In 1962, ABC broadcasted its first program ever in color. The show was called The Jetsons. As remarkable as that achievement was for the times, the animated sitcom was cancelled after only 24 episodes. In the 1980s, The Jetsons was revived for two short years before being shelved decades ahead of technologies such as digital cameras, cell phones, and virtual auto dealer options. Thankfully through syndication, reruns aired for a generation.

Hanna-Barbera Productions cartooned unthinkable technology in each futuristic episode. Below is a short list of “FAR OUT” technology available only to George Jetson (and in the imagination of the writers) a half century ago that actually exists today. And with the recent successful takeoff and landing of an automobile on August 25, 2020 in Japan, the list just got a little longer.

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Tags: Auto Dealerships, Check Guarantee

Auto Dealerships Sell More Vehicles by Promoting Positive Emotions

Posted by Brandes Elitch on Fri, Feb 07, 2020 @ 08:57 AM

Dealers need to provide customers with a consistent, relevant, seamless experience throughout each stage of purchasing, including the dealership website.” – David Boice

Recently, I attended a webinar given by David Boice, CEO and founder of a company called Advid. It was titled, “Lessons from Amazon Prime: evolving the consumer experience in the digital era.” I thought Mr. Boice had some important things to say about what consumers think and feel when they start their search for a new car, and I wanted to share this with our readers. To understand his message, we have to start at the beginning of the consumer buying experience.

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Tags: Auto Dealerships, Multiple Check

Common Denominators: Formula One Auto Racing and CrossCheck

Posted by Brandes Elitch on Mon, Jan 20, 2020 @ 07:45 AM

What do Formula One auto racing and CrossCheck have in common? The answer is, “quite a bit.” Some explanation is in order.

Formula One (aka “Formula 1” and “F1”) auto racing is one of the most exciting sports in modern Western civilization, with all the ingredients for a fabulous experience embedded into it.

Article Summary

  • Why is Formula One a fabulous experience?
  • Who owns Formula One?
  • What are the common denominators between F1 and CrossCheck?
  • Why do auto dealerships prefer CrossCheck?
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Tags: Auto Dealerships, Check Guarantee

Can Artificial Intelligence Help Auto Dealerships Increase Revenue?

Posted by Brandes Elitch on Wed, Jan 15, 2020 @ 02:45 PM

Recently, some of our merchant dealers have been asking us about artificial intelligence – what is it, how does it work, and most importantly, can artificial intelligence help auto dealerships increase revenue? To answer those questions, let’s start with some background.

In 1950, Alan Turing wrote a paper titled “Computing Machinery and Intelligence.” His idea was: “Humans use available information as well as reason to solve problems and make decisions, so why can’t machines do the same thing?” The problem back then was that computers could not store enough information, or process it fast enough, to add value to the procedure. We needed more processing power, new software, and ultimately putting the GPU in the cloud. This took a few more decades, plus the power of Moore’s Law, to be viable.

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Tags: Auto Dealerships, Multiple Check

Spotlight on the 2020 NADA Exhibitor Showcase

Posted by Joe Gargiulo on Fri, Jan 10, 2020 @ 08:45 AM

2020 NADA Exhibitor ShowcaseThe 2020 NADA Convention & Expo is an excellent opportunity for auto dealerships to increase their business skills while attending the expansive NADA Exhibitor Showcase and participating in workshops, interactive learning sessions, and peer-to-peer learning events. The ultimate goal, of course, is for auto dealerships to increase sales and mitigate risk while saving time and money.

Attendees and presenters are composed of a highly qualified mix of industry leaders, manufacturers, exhibitors, experts, and of course, auto dealership management.

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Tags: Events / Conferences, Auto Dealerships

How Auto Dealerships Can Increase Profits in the F&I Department

Posted by Brandes Elitch on Tue, Dec 31, 2019 @ 07:45 AM

The National Automobile Dealers Association (NADA) is the trade group for new auto dealerships in the U.S. NADA provides many valuable services for their members, including training programs, weeklong seminars, an academy, and setting up “Twenty Groups,” where a dealer will meet regularly with 19 other dealers in their area to get advice and guidance from their peers on current developments in their store. Another valuable service is developing research reports on the retail automotive industry.

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Tags: Auto Dealerships, Multiple Check

Changes in the Used Car Market to Benefit Auto Dealers

Posted by Brandes Elitch on Fri, Dec 20, 2019 @ 11:45 AM

Recently, Experian released their Q3 2019 “State of the Automotive Finance Market” report. The authors made a couple of important points — mostly about changes in the used car market — that automotive retailers should take note of.

The good news is that used vehicles are generating a larger share of the U.S. automotive finance market. Used car financing increased 2.4% in 2019. It reached 55.15% of total financing. Why did this happen, and why is it good news for a dealer?

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Tags: Auto Dealerships, Multiple Check

How Can Auto Dealerships Help Consumers with Down Payments?

Posted by Brandes Elitch on Mon, Dec 16, 2019 @ 10:45 AM

Two of the most frequent questions asked by consumers at auto dealerships are: “Can you help me get a loan to buy this car?” and “How much of a down payment will I need to make?”

As a dealer, you had better have the answers accurately and quickly, or you might lose the sale. It turns out that these are not always easy questions to answer because, well, they are complicated.

In this short article, we are going to address both questions and take a further exploration of the customer credit journey at your store. More importantly, we are going to answer the question: “How can auto dealerships help consumers with down payments?”

You will learn how to provide a good customer experience, get the taillights over the curb, and inspire good reviews on social media.

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Tags: Auto Dealerships, Multiple Check

The 2020 NADA Show Will Tantalize Auto Dealerships

Posted by Joe Gargiulo on Wed, Dec 11, 2019 @ 08:53 AM

The Temptations aren’t performing, but their 1966 hit, “Get Ready,” sets the tone for a new decade of excellence at the 2020 NADA Show, the premier marketplace for auto dealerships.

The event takes place Feb. 14 – 17, 2020 at the Las Vegas Convention Center, presenting 650,000 square feet of exhibition space, educational sessions, franchise meetings, and networking opportunities for member auto dealerships, non-member dealers and other attendees.

NADA offers a separate web address for the annual show, including access to schedules, biographies of keynote speakers, maps, travel and accommodations suggestions, blog articles for auto dealerships, exhibitor details and links to its social media channels.

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Tags: National Automobile Dealers Association (NADA), Auto Dealerships

Merchants Using CrossCheck Services Help Consumers Avoid Debt Traps

Posted by Brandes Elitch on Wed, Nov 20, 2019 @ 07:45 AM

Recently, I saw a survey taken by CrediCards.com showing that large retailers offering new store credit cards have increased the interest rates on those cards substantially in the last few months. The article noted that this is particularly ironic as the Federal Reserve has lowered interest rates during this same period. This article demonstrates how merchants using CrossCheck services help consumers avoid debt traps.

This is what the survey found:

  • The average APR on store-only credit cards has increased to 27.52%.
  • The average APR for new co-branded store cards (that can be used at other stores) has risen to 23.39%.
  • The average APR for all retail store cards is 26.01%.

Like other things in life, these store cards have a good side and a bad side. First, the good.

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Tags: Auto Dealerships, Multiple Check