AFC

Showing 129–144 of 223 results

  • Put social media 2 work 4 U with a formal policy

    Summer 2013
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 287

    Abstract: Most dealers already use social media to reach out to new and existing customers. But many lack a formal policy for this technological trend. Without one, they could have a hard time disciplining employees for any online abuses that might occur. This brief article describes some of the elements that such a policy should include.

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  • Creativity not encouraged – Don’t take chances with revenue and expense recognition

    Summer 2013
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 818

    Abstract: Accounting is time-sensitive. The IRS and Financial Accounting Standards Board (FASB) have established strict cutoffs for recording revenues and expenses. Dealers who are playing timing games to lower taxes or flatter results may find that their creative accounting can come back to haunt them. This article addresses how the rules apply to a variety of different recording situations, and the key role that auditors play in enforcing the rules.

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  • What’s up with your DOCs?

    Summer 2013
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 552

    Abstract: Many dealership owners skim over daily operating control reports, or “DOCs,” every morning, but do little else with them. The numbers on the report are ballpark at best, they reason, so it wouldn’t be smart to base business decisions on them. But the data in the DOCs is as good as the procedures the dealer puts in place to collect it. This article shows how dealers can use the wealth of information these reports contain for decision making and planning — provided they exercise the discipline necessary to collect the data on a near real-time basis.

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  • Taking command of your internal controls

    Summer 2013
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 843

    Abstract: Every dealership is at risk for theft and financial misstatement. These threats are especially high if a store lacks formal, regularly reviewed internal controls. This article offers some ways to take command of them. It discusses conventional safeguards, such as passwords, alarms and locks, and operational controls, such as checks and balances, segregation of duties and background checks. A sidebar offers five easy fraud prevention tips.

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  • Are you ready for the green revolution? How to evolve as fuel efficiencies improve

    Spring 2013
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 276

    Abstract: Automakers are working toward ever-higher fuel-efficiency goals, and this “green revolution” will likely continue. This brief article offers ways for dealers to evolve as fuel efficiencies improve: training service department personnel on the latest fuel-efficient technologies; integrating fuel-efficient parts into inventory; and helping customers further enhance fuel efficiency.

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  • Plan your estate now, save taxes later

    Spring 2013
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 652

    Abstract: The estate tax provisions of the American Taxpayer Relief Act of 2012 (ATRA), combined with dealership values that continue to be relatively low, provide significant tax-saving opportunities for dealers in 2013. This article looks at the higher lifetime gift and estate tax exemption and rate and notes that it’s important to start estate planning early to maximize tax-free transfers of dealership assets before they appreciate. It also discusses dealership valuation, family limited partnerships and grantor retained annuity trusts.

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  • Keeping an eye on dealer review sites

    Spring 2013
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 681

    Abstract: For dealers who don’t know what’s being said about them on online dealership review sites — or don’t have a strategy in place to quickly combat unfair reviews or appease disgruntled customers who have a legitimate beef — this article should serve as a wake-up call. It explains the threat from negative reviews, whether fair or unfair, and how a dealership should respond.

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  • Extended depreciation-related deductions are good news

    Spring 2013
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 856

    Abstract: The American Taxpayer Relief Act of 2012 (ATRA) has extended both expanded Section 179 expensing and 50% bonus depreciation through 2013. This article details the benefits of each tax reduction tool and explains how they can benefit dealers both as buyers and as retailers. But it also notes that ATRA might result in higher taxes for some dealership owners.

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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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