CrossCheck Blog

Much has been made of the inventory crunch in both the new- and used-car markets. The Covid effect has been especially difficult for the auto dealer industry as thousands of new cars are sitting idle, waiting for computer chips that continue to be in extremely low supply. Auto Repair shops are taking note as customers delay buying a new car and instead look to maintain older vehicles.

This year’s NADA conference offered many welcome perspectives – not the least of which was that we were all in attendance again as COVID restrictions lifted. But perhaps the most significant was how increasingly important it is becoming for manufacturers and dealers alike to keep up with the electrical revolution of the automobile industry.

According to the Association of Equipment Manufacturers (AEM), both sales and rentals of heavy equipment for the construction industry is expected to climb after the new year, even on top of a decent sales increase during 2021. In order for heavy equipment sellers to take advantage of that growth and secure each sale, CrossCheck has developed services that will ensure payment on everything from rentals to the purchase of big-ticket items, with our Multiple Check, Check on Delivery and Check Guarantee.

A recent study by the federal Consumer Financial Protection Bureau (CFPB) has determined that the issuance of credit cards has declined significantly since the start of the COVID pandemic. According to the study, the success rate of credit card applications dropped from 45 percent in January 2020 – the start of the COVID pandemic – to approximately 30 percent a few months later.

It is common knowledge that furniture sales spike immediately after the holidays as stores slash prices in preparation of new styles and inventory that typically arrive in January and February. When store owners put out the large “For Sale” signs, tie balloons to their front façade (not to mention placing the occasional inflatable sky dancer in the parking lot), they are hoping for a rush so they can clear out the sales floor ahead of new inventory arrivals.

“I know check guarantee services are convenient, but how on earth can they be profitable?” I’m glad you asked. Check processing services save time and money, the guarantee factor mitigates the risk of accepting bad ones, and optional premium services can further increase sales. Together, this trifecta is the essence of “check processing made profitable” that may be summarized as follows: Check Guarantee Prevents Returned Checks Check Processing Means More Sales Check Acceptance Rates Matter

If you hear yourself saying, “we’re an auto parts store, not a savings and loan,” more often than you like, then perhaps you’ll stick around long enough to discover five tools to increase sales. It’s no wonder you feel that way given the cost of card-terminal certifications in relation to time and money. Then there’s the problem with independent garages taking an extra 60 days to pay their monthly balances or even bouncing those checks. You’re in the business of moving auto parts to legitimate wholesale and retail customers, and you want to keep it that way.

According to the National Association of Home Builders (NAHB), construction companies and housing currently contribute 15 – 18 percent to the nation’s Gross Domestic Product (GDP). Those statistics and additional housing data are available via the organization’s website, including information about membership, blogs and publications, construction codes, educational opportunities and political advocacy. The NAHB is a federation of more than 700 state and local associations representing more than 140,000 members. Approximately 33 percent are construction companies in home building and remodeling while the remainder “work in closely related specialties such as sales and marketing, housing finance, and manufacturing and supplying building materials.” Furthermore, NAHB members are responsible for constructing about 80 percent of the new single-family and multifamily homes in the United States each year.

Auto dealers, automotive manufacturers and other industry leaders gathered at the link Las Vegas Convention Center March 22 – 25 for the NADA Show 2018. Presented by the National Automobile Dealers Association (NADA), the event held 120 educational sessions categorized under eight learning tracks in traditional and interactive formats with the opportunity to earn continuing education units (CEUs). Alongside sessions, NADA Show 2018 ran an exhibit hall staged with the latest automotive products, services and technologies.

Remodeling contractors typically see a flurry of kitchen makeover requests during the first quarter of every year that ultimately help increase building supply sales. The reason is simple: prepping holiday meals for family and friends is the surest way of finding flaws in kitchen design and functionality. Those same gatherings may also call out family bathrooms in need of facelifts. Furthermore, even homeowners who are satisfied with their kitchen or bath may look at the specter of summer gatherings on a crumbling outdoor deck with considerable reservation.