AutoXcel Corporation的动态

Talk about additional service for our agents!! How about you??

Last week of the Month: We need to close out the Month of October with some momentum. Everybody can drive a Nicer newer Vehicle Today. Global F&I Solutions LLC and all our Partners are here to Help. ?? Global Lending Services LLC are here to help. Ability and Stability is our Underwriting Guideline. Prove their income and where they live you can sell them a Affordable Ride. The auto industry has changed, and your dealership’s “Why Buy Here” programs need to catch up. It’s time to ask yourself: how can we better serve our customers? We’re here to help. We’ve developed all the tools you need to build your business on legal, compliant foundations, so you can focus on what matters: your customers. Our digital marketing expertise can draw customers to your business, and our team shares your drive to exceed expectations. You might think of these as four legs that make up a sturdy chair. Each of these components is crucial to helping you make your dealership a success in today’s automotive market. Let us help you get there before the New Year. Spartan Automotive Technology Group Ascent Administration Services Veritas Global Protection Services, INC RoadVantage Gather Aura https://alwaysbikes.com/ https://lnkd.in/evsFtznU https://lnkd.in/enKgDPV4 Gary S. Sillman

Effective #debt recovery in the dealership business requires a balanced approach that combines thorough credit assessments, clear contractual agreements, automated (system generated) and personalized follow-ups and flexible solutions for delinquent accounts due to high value transaction in business. The best recovery practices in dealerships business will minimize bad debt, minimized risk, improve cash flow and maintain positive customer relationships. #debtrecovery #dealershipbusiness

October was a very spooky month for our industry. Unfortunately, we experienced a big slowdown at the end of the month and are looking at the rest of the year to pick up where October left off. Our underwriting guidelines are ability and stability. Income is the driver of everything we do here, and we lend money based on income and other key factors. Please remember these guidelines when working your deals. You can use a factor of 18% of the income as a guideline for how much money to lend for an auto purchase, however there are many factors that can change this. Also, it's important to remember that insurance costs are out of control these days so be sure to factor that in to your financing discussions as well. Global Lending Services LLC ?? ?? Pass thru for Nissan Kia Hyundai and Ally Finance Companies. Auto Theft has been on the rise. Start Protecting your Inventory. Teach your Customers the easiest way to do that is with a GPS Hidden in your Car. Spartan Automotive Technology Group we can show you how to do this. ?? https://lnkd.in/enKgDPV4 Federal Trade Commission Red Flags says you Must Verify the Identity of your Customer Regardless. Gather Aura getarmd.com OFAC is a Real Database that you must Verify your Customers. A digital Menu is the only way to handle all of your Compliance Requirements. Every F&I Product is Optional and has Nothing to do with Credit. All are Voluntary Protection Products. All Must be Documented and Disclosed Properly with Accepts and Declines. Isn't it Time to Trust somebody to teach you about all of these Laws and Rules to conduct Business Today. ?? CFPB and The FTC are Really Tired of Policing this. The States AG and Other Authorities will do it for them. ??

Common issues when buying a car from a dealer: Trust-related issues: 1. Misrepresentation: Car's condition, mileage, or history. 2. Concealed defects: Hidden problems or needed repairs. 3. False promises: Unkept assurances about vehicle performance. 4. Lack of transparency: Unclear pricing, fees, or financing. Location-specific issues: 1. Distance: Traveling to inspect or collect the vehicle. 2. Logistics: Arranging transportation or storage. 3. Local regulations: Compliance with state or local laws. Dealer-related issues: 1. Reputation: Researching dealer's history and reviews. 2. Certification: Verifying dealer's licenses and certifications. 3. Communication: Ensuring clear and timely updates. Car-related issues: 1. Condition: Verifying vehicle's condition and history. 2. Authentication: Confirming vehicle's identity and ownership. 3. Warranty: Understanding warranty terms and conditions. Financial issues: 1. Pricing: Negotiating fair market price. 2. Financing: Understanding financing options and terms. 3. Payment: Securing secure payment methods. Best practices: 1. Research dealers and cars thoroughly. 2. Inspect vehicles carefully. 3. Verify documentation and certifications. 4. Negotiate clearly and transparently. 5. Consider third-party inspections or escrow services. Questions to ask dealers: 1. What is the car's history and condition? 2. Are there any existing problems or needed repairs? 3. What warranties or guarantees are provided? 4. What financing options are available? 5. Can I inspect the vehicle at my location? Protective measures: 1. Use reputable dealers. 2. Get everything in writing. 3. Use secure payment methods. 4. Consider purchasing from local dealers.

Continuing with our perspective on the important topic of the Motor Finance investigation, our third post in the series provides firms with some of the key considerations on their remediation journeys. Please have a read and reach out if you think we could help you today.

The FCA continues to impose large penalties for Institutions who's actions result in insufficient consideration of customers' needs and circumstances. People must be able to trust their lenders to always treat them fairly, as by failing to do so, FIs put millions at risk of financial harm. FCA will undoubtedly consider firm's remediation efforts and redress programs on potential fines to be imposed. Read more on our POV, and get in touch with our experts. ?? Read our insights here: https://lnkd.in/e5EijBDr #financialservices #fcainvestigation #motorfinancescandal

If you are an IT professional you should never buy a car on loan.? Car is a liability, not an asset. After 10 years a car worth 20 lakhs would be of 5 lakhs.? The value of your car would depreciate over time. But you still need a car? right?? Buy a car that you can afford in cash.? Maybe a cheaper alternative or used initially. Car gst is 28 % to 48 % .. and an individal has no benifit .. for that. The biggest mistake you can make is to take a loan for liability.? Loan is a great financial tool? Use that to build assets. More on this tomorrow.?

CUs waste plenty of time collecting vehicle titles from auto loan holders. Credit Union of America automated the process and freed up A LOT of staff time! ?? Here's the scoop: MANUAL WORK CAUSED INEFFICIENCIES The team had been uploading lists every week to trigger multiple email reminders. Two people had to spot-check the data for accuracy, and marketing couldn't effectively limit the number of email reminders members received. AUTOMATION STREAMLINED THE PROCESS The CU's title department partnered with the marketing team to fully automate their email outreach to thousands of auto loan holders each year. Messages now automatically trigger without human intervention. They're personalized with members’ vehicle make and model details and provide instructions for submitting title photos. Members receive up to six email reminders. When titles are received, email reminders automatically stop. Lindsay Ann Magruder (Digital Marketing Manager) told us: “Delivering friendly, helpful service doesn’t have to be so time-consuming. Now we can collect missing vehicle titles while giving staff more time to invest in higher-value activities. We are thrilled to be helping our members while saving 260 hours annually!” ?? For more details, check out the case study. #creditunions #autoloans #memberengagement #fintech

As the impact of the CDK Global outage continues to affect dealerships across the United States and Canada, we want you to know that our team at JM&A Group is prepared to help and support you where we can. People are the reason we love the automotive world so much. For our dealer partners, please continue to utilize the support from your JM&A representatives – they are ready to assist you with any questions or concerns. A unified force can withstand challenges together, so let’s continue to be there for our dealer friends and those who make up this wonderful industry. As much as possible, we encourage you to be flexible. A few suggestions to consider:? 1. Your sales process should continue to promote a positive and transparent customer experience, especially as most customers may be unaware of the outage before coming to the dealership. 2. Complete as much of the process using alternative tools, which many dealers have shared in the following ways: a. Pencil deals using CRMs. b. Manually load and build menus through your F&I Menu Platform. c. JM&A Group F&I protection products can also be rated and contracted through our Dealer Source portal. d. Use eContracting capabilities from your lending platform. e. Access DMV forms through your state DMV website. f. Use paper forms if needed. 3. Work with your partners to find solutions to complete transactions. Many OEMs and lenders are introducing flexibility into their processes and policies to help during this time. 4. Although you may not be able to complete the transaction during this time, involve F&I as early as possible. You should be active in endorsing and presenting to customers about available F&I products even if you cannot finish purchases.? 5. Gather all information as normal when meeting with customers. Once CDK Global is back up and running, you will already have all the information needed to finalize the sales process.? *While we hope you find these suggestions helpful, before implementing any of them, you should consult with your legal counsel to ensure your compliance with all applicable legal requirements.