Auto Focus
Showing 209–224 of 231 results
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Buying while the buying is good
Summer 2009
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 637
Abstract: In this downturned economy, many dealerships in sound condition are wondering if this is a good time to expand by taking over dealerships that are for sale. But this is a decision that should be weighed with the utmost care. It will be necessary to size up one’s own financial health, calculate the risks, and look at the strengths and weaknesses of the prospective workforce.
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How to protect your assets in a divorce
Summer 2009
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 697
Abstract: Divorce, one of life’s most stressful experiences, can drain one’s emotions — and bank account. Not only must divorcing dealers’ personal assets be divvied up, but their business interests also might be at stake. Fortunately, an accounting professional can help with the financial side of divorce. He or she will evaluate whether the dealer’s interest in the dealership is part of the marital estate, and whether state laws consider goodwill includible. The professional also will choose the best valuation approach to determine the dealership’s worth.
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Parts and service lifeline – A well-run back shop can save your dealership
Summer 2009
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 961
Abstract: For the average dealer, parts and service accounted for all its operating profits last year, according to the National Automobile Dealers Association (NADA). To help dealers maintain this lifeline through this rough economy, this article provides tips on catering to customers, exploiting technology, providing perceived value and working as a coordinated team. A sidebar discusses whether customer service index ratings or other measures provide the best gauge of customer satisfaction.
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The subprime market – How credit-challenged borrowers can help you
Spring 2009
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 572
Abstract: In the wake of the credit crisis, lenders are gun-shy. Finding affordable credit can be especially challenging for consumers with credit scores below 550. But the below-subprime market is the fastest growing credit tier, according to finance research group Experian Automotive. Dealers can help them close the deal with creative financing alternatives. Those who are willing to work with credit-challenged customers stand to create a win-win solution on both sides of the transaction.
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Keeping staff in a down economy
Spring 2009
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 445
Abstract: A successful dealership is a team of individuals that work together to score sales. Yet, in a down economy, having too big of a team could be untenable. Then again, losing key players could cost you as well. The trick is finding the right balance. If pay raises are not an option right now, other means of retaining key employees may include flextime, training and incentive programs.
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Going for broke – Dealers weighing bankruptcy face difficult choices
Spring 2009
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 764
Abstract: The National Automobile Dealers Association (NADA) reports that one in ten dealers will close this year, assuming no manufacturers go under. If the federal bailout doesn’t meet expectations, that estimate could skyrocket. But there are different kinds of bankruptcy, and even options short of that. Dealers who tackle their problems early have a fighting chance against Chapter 7.
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Prepare for the unexpected with a buy-sell agreement
Spring 2009
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 959
Abstract: Are you prepared for the unexpected? You may not be if your dealership lacks a regularly updated buy-sell agreement. This legal contract between business owners stipulates what happens when the owners voluntarily or involuntarily part ways. Similar to a premarital agreement or a will, a buy-sell agreement helps owners handle life’s curveballs, including retirement, divorce, partner or shareholder disputes, or the death or disability of an owner. This article discusses financing sources and the importance of obtaining an accurate valuation.
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Social networking can boost business – 6 principles for success
Spring 2009
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 600
Abstract: Social Web sites aren’t just for kids anymore. Increasingly, businesses are tapping into the power of virtual communities, such as MySpace, Facebook and LinkedIn, as a way to market their products and better leverage Web-savvy employees. The recession-friendly bonus is that social networking is free. You need only invest time to reap its benefits. This article shows how.
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Think outside the newsstand – Retool your advertising budget and sell more
Winter 2009
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 623
Abstract: Even when cash is tight and sales are slow, dealers can advertise smarter by reallocating spending to less expensive — and more effective — alternatives. Take a minute and consider your advertising mix. Is it giving you the biggest bang for your buck?
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2 F&I compliance areas that demand your attention
Winter 2009
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 668
Abstract: Credit reporting laws and Truth in Lending/Regulation Z are two areas of consumer protection that continue to demand priority attention. To avert trouble, you need to develop clear policies and procedures and update them as needed; train F&I employees thoroughly; and monitor and enforce adherence.
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Is it time to gift?
Winter 2009
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 879
Abstract: The holidays are over, but you may want to consider one last gift for your family members: an equity position in your dealership. Now may be the optimal time to transfer shares because you can take advantage of low market values and decreased marketability.
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Baby, it’s cold outside – Tap into your frozen cash stash
Winter 2009
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 980
Abstract: Every dealership experiences cash flow problems from time to time. But right now shortfalls seem the norm, rather than the exception. Stricter credit policies and frozen lines of credit are forcing dealers to look beyond traditional bank loans to make up the difference. Here are some ideas to alleviate the cash crunch.
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Now and later – Time these 2008 tax strategies
Fall 2008
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 861
Abstract: Some tax planning issues don’t have to be addressed until the time of filing — for example, turning a net operating loss (NOL) into a tax benefit. But other strategies need to be launched before the end of the year to work, such as making qualified asset purchases so that you can benefit from Section 179 expensing and 50% bonus depreciation.
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Carrying their own weight – How to keep on top of your technicians’ performance
Fall 2008
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 1291
Abstract: Do you know, at any given time — not just toward the end of the month — how your service technicians are doing? Because of how important your service department’s revenue is to your dealership’s bottom line, the answer better be “yes.”
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Relay team – Installment sale can pass ownership baton to heirs effectively
Fall 2008
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 975
Abstract: Selling your dealership to your children can be an effective strategy for transferring wealth and accomplishing a variety of goals, including creating an income stream for yourself in the future. Here are some important factors to consider if you’re considering this succession planning move.
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Think CPO – 5 ways to heat up a used-car operation
Summer 2008
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 566
Abstract: Certified preowned vehicles (CPOs) are a “safe” bet for picky or used-car-shy customers. They also allow bargain-hunters to get more car for the same price as a new lower-end, lower-frills model. So it’s no wonder that CPOs can help strengthen a dealer’s used-car operation.