Auto Focus
Showing 33–48 of 231 results
-
3 ways to compete with online car sellers
Winter 2020
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 427
Abstract: Online car sellers like Carvana, TrueCar and CarsDirect have become major competitors of traditional brick-and-mortar dealerships. As a result, some dealerships are rethinking how they do business. This article offers three tips for competing successfully with online car sellers.
-
Should you promote managers internally or hire from outside?
Winter 2020
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 570
Abstract: A dealership’s success hinges on hiring a strong general manager and strong department managers for new and used vehicle sales, parts and service, and F&I. There are two main approaches a dealer-owner can take when hiring managers: Bring them in from the outside or promote existing employees into management positions. This article weighs the pros and cons of each option.
-
Dealership Management Systems – Shaping your own “Mission Control Center”
Winter 2020
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 868
Abstract: This article explores acquiring a new DMS, and offers guidance on where to start, what popular features are available and how to avoid overspending.
-
How to get the most out of your financial statements
Winter 2020
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 865
Abstract: Improving financial performance is a top priority for dealership owners. CPA-prepared financial statements can help by identifying financial and operational deficiencies and discovering areas for cutting costs and generating sales. To reap these benefits, dealers must learn how to glean the information that will be most valuable. This article discusses how to examine the balance sheet, income statement, and statement of cash flows. A sidebar highlights common areas where dealerships may improperly report financial information.
-
A car-free future? Not so fast
Fall 2019
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 365
Abstract: There’s a lot of talk among some younger Americans about living a car-free lifestyle, especially in urban areas. But new research indicates that there may be strong economic benefits to car ownership. This article asserts that a car-free future may not be as close as some people think.
-
4 ways to control dealership expenses
Fall 2019
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 549
Abstract: It’s always a good idea to keep dealership expenses under control. But there are times when this becomes even more important. Many economists are predicting significant economic decline in 2020. This article offers four suggestions for cutting dealership expenses.
-
Form 8300 reporting – Cash payments from customers call for special treatment
Fall 2019
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 676
Abstract: It’s not uncommon for dealerships to receive large sums of cash as payment for vehicles. And they are generally required to file a special form (Form 8300) with the IRS to report cash transactions of more than $10,000. This article reviews those requirements.
-
Develop a formal business plan with sharp direction
Fall 2019
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 860
Abstract: Dealer-owners can detail the future direction of their dealership by drafting a formal, written business plan. This road map can help owners make operational and financial decisions that best position their business for future profitability. This article focuses on the content and structure of an auto dealership’s business plan. A sidebar offers solutions to the perceived “I-don’t-have-enough-time” problem.
-
Are you meeting your sales and use tax obligations?
Summer 2019
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 345
Abstract: The consequences of failing to comply with sales and use tax requirements can be severe. In some states, dealership owners can be held personally liable for unpaid sales and use taxes — even if they’ve delegated this responsibility to one of their employees. This article explains various aspects of determining sales tax nexus.
-
Keeping on top of regulatory compliance
Summer 2019
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 574
Abstract: Some of the key federal rules and regulations that specifically affect auto dealerships are aimed at protecting consumers. This article provides a brief overview of the Financial Privacy rule, the Safeguards rule, the Disposal rule and the Red Flags provision. Also highlighted are Reg Z, Reg M, and protections against misleading advertisements.
-
4 common reasons dealerships fail
Summer 2019
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 714
Abstract: Dealership owners have a responsibility to plan for worst-case scenarios. This article addresses four common reasons behind dealership failure and some steps dealer-owners can take to avoid them.
-
Going green – How to run a sustainable dealership
Summer 2019
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 840
Abstract: Proactive auto dealerships use more efficient renewable energy sources and reduce overall energy and water consumption. This article highlights a couple of “green dealer” programs and describes some recent program prize winners. A sidebar focuses on the Business Energy Investment Tax Credit, which provides a financial incentive for dealerships to install commercial solar and geothermal energy systems.
-
Digital conversion – Offering a tasty F&I menu
Spring 2019
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 370
Abstract: The F&I department remains a source of untapped profit potential for many dealerships. One way to boost F&I sales and profits is to switch from a paper to a digital F&I menu. This article explores the benefits of this technology and some of the cons.
-
An employee stock ownership plan could be worthwhile
Spring 2019
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 649
Abstract: An ESOP can be a tax-efficient technique for sharing equity with employees as well as a powerful retirement and estate planning tool. This article discusses the characteristics, advantages and limitations of these plans.
-
What is an audit opinion letter — and why is it important?
Spring 2019
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 687
Abstract: A financial audit provides assurance to potential buyers that a dealership’s finances are in good shape. This article details the content of an audit opinion letter, and explains the four possible opinions it might render.
-
6 tips for designing a data security plan
Spring 2019
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 808
Abstract: Auto dealerships can be especially attractive targets for hackers because of the treasure trove of customer financial data they possess. Thus, it’s critical for dealerships to take steps to protect their sensitive data from this genuine threat. This article discusses dealership vulnerability and offers guidelines for designing a data security program. A sidebar highlights cyber-liability insurance as a way to mitigate some of the costs of a cyberattack.