Steven Whitlock’s Post

For years, many independent dealers have stuck with the buy here, pay here model – where you finance the vehicle in-house and the customer makes payments directly to you. But the market is shifting, and we’re seeing an incredible opportunity emerge for dealers who want to take things up a notch. More and more independent dealers are exploring financing options through banks like Westlake Financial, which has become a go-to for helping dealers offer financing for both good and special credit customers. It’s a smart move that turns your dealership into a one-stop shop – customers can buy, finance, and protect their vehicle all in one place. Think extended service contracts, GAP insurance, tire and wheel protection – the whole deal. The best part? This doesn’t mean walking away from buy here, pay here. It just gives you another way to add value and boost revenue. It’s about meeting your customers where they’re at and giving them more options. If you’re an independent dealer looking to expand and take advantage of these new opportunities, let’s chat. We’re helping independent dealers like you create new revenue streams and provide even more for your customers.

Things to consider when buying a 🚘 • Don't discuss a payment - While it definitely makes sense to have an affordable payment amount in mind, don't share it until after you've negotiated the purchase price • Be a better negotiator - Ask several dealers for their best "out-the-door" price, including sales tax and any additional costs or discounts. Then, use the lowest number as leverage with other dealers by asking them to beat the total. • Increase your down payment - Once you've settled on a final purchase price, you can lower your costs by putting more money down. A larger down payment (typically 20 percent or more of the purchase price) may also help you lower your rate. It could prevent a scenario where you owe substantially more for your car than it is worth. • Get more for your trade-in - How does trading in a car work, generally? You negotiate the purchase price; then, the dealer tells you what they will give you for the trade-in. However, you can flip that setup: Don't even mention that you have a trade-in as you begin discussions. Instead, solidify your car purchase price. Then, negotiate the trade-in separately from the car purchase. Otherwise, dealers can simply lower their trade-in offer anytime they take money off the sticker price. • Before visiting a dealership - List items necessary, such as size, safety features, and wanted items. It is essential to know your budget — this includes ongoing costs such as maintenance, gas and auto insurance, how you plan to pay for it and obtain a preapproved loan. #ZempelInsurance #LakeMills #LakeMillsInsurance #LakeMillsOffice #Tips #GetAQuote

At Global Insurance Management have some exciting developments coming soon! Speak to Chris! #globalinsurance #addedvalue #dealerrevenue

Here are some things I learned while buying a car- 1. Year end is the best time to buy a car as they offer the best discounts and give the salesman a sense of urgency to hit the yearly goals which pushes them to give you the best price at the earliest 2. Always negotiate for the price of vehicle based on the ex showroom price and not the onroad price as they include insurance, accessories etc 3. Always visit a few different dealers and use others quotes as leverage and negotiate for the best price with them. 4. It is better to get an insurance from a 3rd party dealer as they give better rates, the showroom gave us a rate of 52k but we got it at 26k in a third party company, they will push you to take up their insurance because they get incentives from it. 5. Always take up a loan which doesn’t have a closure clause and you can clear it whenever you want without any penalties. 6. Be patient, tell them your final price and leave, they will call you and give you a better offer.

📢📢📢 New Dealer Alert 📢📢📢 Today Jack Hartley and myself had the pleasure in meeting the team at Auto House 1 in Leeds. Having been using another warranty supplier for 12 months they were told that their prices were going up, so they did their sums. Spent £58,880 on 374 warranties Claimed (as advised by their provider) £21,386 😳😳😳 So they asked why their prices were going up???? Their rep couldn't (or wouldn't) answer so they were referred to A1 Approved Ltd by another one of our dealers. We knew why their prices were going up. Their provider was taking 55% of the warranty cost as "admin" and their underwriting profit was 20%. Subtract the IPT and their claims costs and they were nearly at 100% "burn rate". Had the dealer been using a self funded programme the dealer would have had £25,766 in their fund AFTER the same amount of claims! Also, we noted that some of the claims were considerably higher than we would have thought so their average claim was £497. Our average claim is £344........ You do the maths..... The end result is another dealer using our professional claims handling service to look after their customers and looking forward to benefitting from their excess claims funds to cover their "goodwill" and rejected claims. Speak to us if you have been asked / told that your warranty costs are being increased and see how an in house system can work for you. 📲 07951 212775 📧 [email protected] ☎️ 0113 2709488 Now we have the staff in place we are talking to more and more dealers about the benefit of using our services........watch this space 🤐😉

I have experience writing auto dealers for nearly 10 years. I chased them, tried to win over their owners and GMs, and battled with my colleagues to put together a competitive insurance package that would allow them to showcase their risk management tolerance and provide coverage for catastrophic events. I have always found auto dealers to be resilient. They are salespeople at heart that take an enormous amount of risk to succeed in a business with relatively low margins - as low as 1-2%. Reading this sadens me; however, it’s a stark reminder that the risk you can’t see is sometimes the one that can put your businesses in quick sand. https://lnkd.in/gpAcd8y8

Tired of the stress of buying or selling a car? We make it simple and easy! Get quick offers when selling and check out many cars when buying. Enjoy secure and clear transactions with no hidden fees or haggling. Experience a smooth process from start to finish! Please reach out to [email protected] to know more. #cars #finance #insurance #carbuying #parshwaauto

SC is dedicated to providing valuable insights and tips for dealers and F&I managers. Our goal is to empower you with the knowledge and tools to excel in the automotive industry. Here's a sneak peek at our new blog! 👀 Stay tuned for expert advice, industry trends, and actionable insights that will help you stay ahead of the curve. #servicecontract #automotive #autodealer #finance #insurance #auto #dealer #dealership #autoindustry

Over the past few years, I had the opportunity to work in marketing and L&D, creating content that has helped businesses and marketing agencies communicate effectively and grow their brands. I'm proud to have contributed to insightful articles that focus on valuable industry tips and trends. This experience has sharpened my skills in content creation, SEO optimization, storytelling, and I'm excited to continue applying these in future projects. #contentcreation #ghostwriting #blog #copywriting

DIMINISHED VALUE PROTECTION The only cure for a bad Carfax when a customer trades in his car with a bad VIN history report for a new vehicle at the selling dealer/dealer group. Claim process takes less that 2 minutes to calculate an exact amount the dealer will receive for the traded in vehicle that was in 1 or more accidents. Immediate F&I income Retain at least 30pct of your customers when they trade in their vehicle that was involved in an accident. Significantly reduce the amount of your GAP chargebacks. Ask us about "keeping your profits" as a free benefit with the program. What is the highest chargeback program in a dealership? Yes, GAP. We got you covered using our GAP WRAP approach. (NO need to switch your GAP program....we are not looking to change what you already have....we'd just like to enhance it! POWERFUL program that over 5,000 dealerships understand and enjoy the benefits to them and their customers. Over 16 million accidents occur in the US every year. Of that, only 7pct are declared a total loss. We have the only product that protects the other 93% of customers that experience "diminished value". Dealers are now asking for this program. Can be offered on every deal....cash, finance, and lease. Benefit levels of $5k-10k. Cost to the customer? About $100 a year. Call me at (404) 617-8567 to set up a personalized Zoom Meeting. #finance #diminishedvalueprotection #accidents #GAP