AFC
Showing 145–160 of 231 results
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Readiness is the best defense against used vehicle fraud
Winter 2013
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 560
Abstract: Many dealers mistakenly think used vehicle scams happen only to other dealerships — until it happens to them. Readiness is the first and best line of defense against fraud. And it starts with knowing what scams are currently in vogue. This article describes some of today’s hottest used vehicle swindles: misrepresented vehicle history and condition, falsified loan requirements and documentation, and excessive administrative fees.
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Family-owned dealerships – Make the pros outweigh the cons
Winter 2013
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 693
Abstract: In a time of industry consolidation, is operating a family dealership all it’s cracked up to be? Such businesses offer certain advantages — but face distinct challenges that require ongoing attention. This article looks at some of the advantages that family dealerships enjoy, but also notes the challenges — and remedies — regarding compensation, organizational processes, resentful nonfamily employees, and succession planning.
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How’s your dealership really doing?
Winter 2013
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 582
Abstract: Dealers who need a better way to determine how their dealership is performing may find that benchmarking with key performance indicators (KPIs) provides the answers. This article explains the concept behind KPIs and shows how to pick the best ones.
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Counting inventory – Ask the right questions to get the right results
Winter 2013
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 875
Abstract: When a dealer counts inventory, a small difference between what’s on the shelves and in its perpetual inventory system or the general ledger shouldn’t give rise to panic. But a variance that exceeds 3% to 5% is a cause for concern. This article offers some ideas for minimizing discrepancies. It looks at whether to outsource physical counting, how often to count and precautionary steps to take. A sidebar lists several ways to fraud-proof a parts department.
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Choose your audience carefully in mass mailing campaigns
Spring 2008
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 445
Abstract: Back when Henry Ford was producing automobiles, he saw all of America as his market — every family across the country needed a Tin Lizzie. Although marketers today know that this mindset isn’t cost effective, one thing hasn’t changed from Ford’s time: A promotional campaign using the U.S. Postal Service is still an effective way to deliver your message. (Updated 11/30/12)
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Should you get into parts wholesaling? Know the risks before taking on this business
Spring 2008
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 621
Abstract: Boosted profitability, higher visibility among vehicle enthusiasts and a way to draw prospective buyers into your dealership are a few of the potential advantages of running a successful parts wholesaling business. Losing cash flow to a large inventory and a huge influx of receivables are some of the dangers. If you’re considering going into the potentially lucrative business, keep your eye on the prize, but know the risks. (Updated 11/30/12)
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Special financing Q & A – Primer on subprime loans addresses pluses, minuses
Winter 2008
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 1053
Abstract: Here’s what you need to know about subprime auto loans in sum. This article discusses the subprime loan customer, the dealership as lender, outside lenders, risks and more. A sidebar addresses how the risks of subprime auto lending are different from those of subprime mortgage lending. (Updated 11/30/12)
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Leveling with your lender – Don’t let a short debt supply cause you to miss out
Fall 2012
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 609
Abstract: The recession and its aftermath have made loans scarce for all businesses, but especially for auto dealers: Manufacturers have scaled back on floor plan offerings, and traditional lenders have shied away from dealerships amid reports of bankruptcies and meager sales. But loans are available for the diligent and the disciplined. This article shows ways that dealers can make their business attractive to prospective lenders.
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Are you making the most of depreciation deductions?
Fall 2012
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 731
Abstract: Dealerships that own real estate may find that a cost segregation study can be an effective way to lower their tax bill. Such a study identifies, segregates and reclassifies qualifying property into asset groups with shorter depreciable lives of five, seven or 15 years. By reclassifying assets, dealers can maximize their depreciation deductions in the early years, improving cash flow sooner rather than later. This article discusses the types of assets that qualify and the kinds of tax savings that can result.
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Audit readiness – Get your ducks in a row
Fall 2012
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 661
Abstract: Having an outside audit doesn’t have to be a time-consuming or complicated event. The key is to prepare one’s dealership for the audit, so that it will go smoothly. This article explains how to anticipate workpaper requests, assign staff to assist the auditors with inventory test counts, and take advantage of auditor suggestions to improve business operations.
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Customer privacy policies can help ward off wrongdoing
Fall 2012
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 766
Abstract: It’s surprising how many dealer management systems allow carte blanche access to customer files. This is an open invitation to identity theft. This article shows how to implement important safeguards — whether physical or online — and how to properly retain or dispose of data. A sidebar discusses a situation in which a mortgage broker paid a significant fine for improperly disposing of sensitive customer records; dealers have access to similar information and should take heed.
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Take the dread out of manufacturer rebates
Summer 2012
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 481
Abstract: The rebate process can be confusing for dealers, who might fear hefty chargebacks and chaos. This article offers some ideas for smoothing out the procedure. It specifically examines adhering to a clear and consistent submissions method; maintaining good record-keeping; and engaging in quarterly self-audits.
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Do your ads meet federal lease and credit advertising requirements?
Summer 2012
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 539
Abstract: Dealers shouldn’t pass the buck when it comes to reviewing advertisements for compliance with federal lease and credit advertising guidelines. Manufacturers may help out, but it might not be enough. Because dealers are liable for federal lease and credit advertising violations, they can’t afford to let their ads run wild. So it’s critical that they conduct their own independent ad reviews for errors and omissions. This article explains how to maintain compliance with federal regulations.
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Smart moves – Consider creating a separate real estate entity
Summer 2012
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 837
Abstract: A dealership that owns its buildings and land might find it prudent to separate the legal title of the business from the real estate. It can accomplish this by transferring the title to the real estate into a newly created legal entity such as a corporation, limited liability company (LLC) or trust. After it transfers the real property from its operating business, the dealership simply rents the space from the new legal entity in a landlord-tenant relationship. This article shows that this time-tested management strategy is easier and cheaper than one might think, and offers significant legal, financial and personal advantages for dealers.
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Getting the jump on financial statement and tax filing preparation
Summer 2012
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 988
Abstract: Proactive auto dealers meet with their CPAs in late summer or early fall to plan for the next year’s financial reporting and tax filing. This helps them anticipate requests for audit or review workpapers, streamline financial statement and tax return preparation, and minimize taxes. This article examines topics such as Section 179 expensing and bonus depreciation, which should be addressed before scheduled tax law changes take effect in 2013. It also looks at fixed assets, inventory accounting, and adjusting journal entries, while a sidebar discusses owner transactions.
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Taking care of business – 5 do’s and don’ts for your BDC
Spring 2008
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 819
Abstract: A Business Development Center (BDC) can be a multitasking powerhouse for your dealership, helping you retain customers while turning prospects into buyers. The benefits of this enterprise can far outweigh the costs. Whether you’re just starting up your BDC or evaluating an established one, here are five do’s and don’ts to consider. (Updated 4/30/12)