Should I buy an extended warranty on a used car?
Shabana Motors
OCTOBER 26, 2023
An extended warranty ensures you are prepared should the unexpected happen. Owning a used car can be unpredictable, and unexpected repairs can be costly.
4 Innovative Strategies to Revitalize Your Dealership's F&I Department
Vanguard Dealer Services
APRIL 23, 2024
This department’s responsibilities often include discussing dealer financing options, managing the associated paperwork/agreements, or offering optional add-on products like extended warranties to ensure a comprehensive buying experience. The F&I department can be the lifeblood of any dealership.
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The Anatomy of a Car Deal – Fees, Financing, and Fine Print
Shawn Ryder
MARCH 12, 2024
Understanding the various fees, financing options, and scrutinizing the fine print can make a significant difference in the outcome of a car deal. Financing Fundamentals Loan Approval Process If you’re considering financing a car purchase, understanding the loan approval process is crucial.
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Why Shopping at Private Dealerships Can Score You Awesome Deals on Pre-Owned Vehicles
Hershey Motors
AUGUST 15, 2024
At Hershey Motors, we understand that financing can be a significant concern for many buyers. That’s why we offer flexible financing options to accommodate different financial situations. Many of our pre-owned cars come with extended warranties and additional benefits, further enhancing the value of your purchase.
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New survey lifts the lid on discounting
Motor Trader
APRIL 30, 2024
Paul Burgess, CEO at Startline Motor Finance, said: “This is a really interesting piece of research, showing how it is very common in the used car sector for a small haggle margin to be built into the price, essentially to satisfy customers who ask for a discount. Most people are now aware whether they are getting a good deal.”
7 Car Sales Tips: Effortlessly Close Deals
Auto Alert
JULY 22, 2024
Offer Competitive Pricing and Finance Options Effective pricing strategies and incentives will be one of, if not the most, motivating components of the car-buying process. Make sure you are clear about financing options. Sometimes, buyers need more time to consider their options or arrange financing.
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A Guide Buying A Used Car in England
Car Examer
MARCH 4, 2024
Private History Check: Car History Check Data Check: Consider getting a private history check, costing average £10 – £20, to obtain valuable insights into potential issues such as theft, outstanding finance, accidents, correct mileage, and repairs. Insurance write off’s not applicable for finance.
Understanding Dealership Jargon: Terms the Public May Not Know
Shawn Ryder
FEBRUARY 7, 2024
F&I (Finance and Insurance) A department within a dealership responsible for arranging financing and insurance for customers purchasing vehicles. The F&I manager will also offer additional products such as extended warranties and GAP insurance.
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10 Ways to Upgrade Your Automotive Sales Process
Auto Alert
APRIL 5, 2024
Offer Flexible Financing Options Competitive pricing and incentives can be powerful tools. Provide a variety of financing options to accommodate different budgets and credit situations, making it easier for customers to afford their desired vehicles.
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Nissan Allows Dealers To Sell Cars At A Loss, Up To 15% Below Invoice
Carscoops
MAY 9, 2024
In-house financing is a crucial piece of that since dealers make extra cash on the back end. Junk fees, pointless extra packages, and extended warranties could all be part of the plan for some of these businesses too. ” In an effort to recover profits wherever possible, dealers say that they’re using various tactics.
“Maximize Your Car Dealership Potential: Essential Roles, Strategies, and Insider Insights”
Shawn Ryder
JANUARY 15, 2024
Finance Manager The finance manager handles financing options available to customers such as loans or leasing agreements from financial institutions.They gather credit information from buyers,present suitable financing choices based on their financial situation while ensuring compliance with legal requirements.
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Ferrari Thinks $7,500 Battery Subscription Will Help Resale Value
Jalopnik
JUNE 26, 2024
The extended warranty service is intended to ease concerns about range degradation as the battery-equipped Ferrari models age, Bloomberg reports. Ferrari plans to offer a $7,500 annual battery subscription for its hybrid and future all-electric vehicles. The Italian automaker also intends for the service to maintain… Read more.
Guide to Car Running Costs to Help You Save Money
Car Examer
SEPTEMBER 8, 2024
Get extended warranty : helps you minimize costs. Financing and Interest If you took out a loan to finance your car, interest payments can add a significant cost over time. always read terms and conditions to avoid disappointments.
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Targeting Trending Audiences for Q4 Marketing: A Winning Strategy for Car Dealerships
ForceMarketing
SEPTEMBER 19, 2023
Promote the latest electric models and offer attractive financing options to seal the deal. Leverage incentives, rebates, and financing deals to entice these value-conscious buyers. Run promotions that emphasize the need for these expiring inventory deals, including attractive trade-in options or extended warranties.
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F&I offices will have to adapt to EVs
Canadian Auto Dealer
MARCH 1, 2024
EVs typically come with price tags that are thousands of dollars more than traditional vehicles, and this price increase could translate into more opportunity to pick up lender finance reserves. F&I offices are going to need options that cater to these unique challenges, such as extended warranties that cover battery performance.
Is F&I Manager Training Worth the Investment?
AutoRaptor
APRIL 23, 2024
In the competitive world of automotive sales, having a skilled and knowledgeable Finance and Insurance (F&I) Manager can make all the difference. An F&I Manager is not just a financing expert; they are also responsible for a variety of critical tasks. But the question remains: is F&I manager training worth the investment?
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Step-by-Step Guide How to Negotiate a Car Price
Car Examer
AUGUST 18, 2024
Consider Financing: If you’re planning to finance your purchase, shop around for the best loan rates before visiting the dealership. Be Prepared for Add-On Sales Tactics Dealers often try to sell additional products or services, such as extended warranties, rust-proofing, or paint protection, during the final stages of the sale.
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The Advantages of In-House Financing at Car Dealerships.
Auto City
SEPTEMBER 24, 2014
The Advantages of In-House Financing at Car Dealerships. For those interested in car shopping, few realize the number of benefits available when choosing to purchase a new or pre-owned vehicle with in-house financing through the dealership. They’re even known for throwing in a few incentives. appeared first on Auto City Credit.
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How much profit do used car dealers make
Car Examer
JANUARY 25, 2024
Most large used car sellers or manufacturer franchises make another side of the profit from commissions on insurance products and finance options. Financing and Additional Products: Used car dealerships often offer financing options, extended warranties, and additional products to enhance their revenue streams.
AI-Powered Chatbots for Dealerships | Work Smarter
Auto Alert
AUGUST 8, 2024
The chatbot can also follow up with additional information about the vehicle or financing options and send automatic reminders. They can handle a variety of tasks, such as scheduling test drives, providing detailed vehicle information, and assisting with financing pre-approvals.
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Ultimate Guide to Hiring Car Sales Professionals: Job Positions, Trends, and Terminology Revealed!
Shawn Ryder
JANUARY 13, 2024
Additionally, they work closely with other departments, such as finance and service, to ensure a smooth customer experience. Finance Manager The finance manager plays a crucial role in finalizing the sale. They assist customers in securing financing options and explain the terms and conditions of loans or leases.
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The Next-Gen Automotive F&I Experience Has Arrived
Dealer Inspire
FEBRUARY 21, 2023
While the car shopping experience has evolved over the years, transitioning from an in-store experience to one that can be done mostly online — one thing has remained constant: when it comes to buying a car, the #1 consumer pain point continues to be the financing process. WHAT IS INSTANT FINANCING? 1 Why is it so painful?
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Mastering the many faces of F&I
Canadian Auto Dealer
MARCH 30, 2024
To confidently present finance and insurance products, business managers must be well-versed in the intricacies of extended warranties, GAP insurance and more. Product knowledge is power here. But it doesn’t stop there. F&I managers are negotiators extraordinaire.
Advantages of Using a Tax Refund to Buy a Used Car
Hertz Car Sales
MARCH 13, 2023
A down payment will increase your odds of approval for financing if you have a limited credit history. Additionally, if you find yourself in a situation where you owe more on your current vehicle than its value, using your tax refund as a down payment can help offset that difference, which will also help with securing financing.
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A Guide to Buying a Used Car in Wales
Car Examer
MARCH 5, 2024
Finance Arranged by a Trader: Provides a way to acquire the car without paying the full amount upfront. Self-Arranged Finance: Allows flexibility but may incur higher costs. Payments can be made using a debit or credit card after receiving funds from the finance company. Private sellers may be hesitant to share bank details.
Negotiation Tactics for Automotive Professionals: Strategies for Successful Car Sales
Turbo Marketing Solutions
FEBRUARY 6, 2024
Comprehending a client’s preferences, finances, and purchase motivations enables a tailored approach yielding high success rates. Knowing how much room there is to negotiate and understanding where we can offer additional value, such as extended warranties or service packages, allows us to approach the negotiation with confidence.
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10 Ways to Unleash the Potential of Your Dealership’s F&I Department
Autosoft
APRIL 11, 2024
Reading Time: 5 minutes 10 Ways to Unleash the Potential of Your Dealership’s F&I Department April 11, 2024 Within automotive sales, the Finance and Insurance (F&I) department holds a crucial position, impacting both profitability and customer satisfaction.
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Unleashing the Potential of Your Dealership’s F&I Department
Autosoft
MARCH 25, 2024
Unleashing the Potential of Your Dealership’s F&I Department March 25, 2024 Bryce Veon 7 mins read Within automotive sales, the Finance and Insurance (F&I) department holds a crucial position, impacting both profitability and customer satisfaction.
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A Guide Buying A Used Car in Northern Ireland
Car Examer
MARCH 8, 2024
This check should reveal if the car is stolen, written off by an insurance company, has outstanding finance, is at risk of illegal sale, or has mileage discrepancies. Essential Tips Before Buying a Used Car Check the Car’s History: Engage a reputable vehicle checking company to obtain a comprehensive history check.
Honoring Those Who Serve: Your Guide to Military Discounts on Used Cars
MforceLA
APRIL 12, 2024
Most commonly, they offer monetary savings, such as a set dollar amount of the purchase price or special low-interest financing exclusive to military members. Furthermore, military discounts may come with added perks like free maintenance packages or extended warranties, enhancing the overall value proposition for military customers.
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Navigating the Pros and Cons of Buying an Imported Car
Car Examer
JANUARY 21, 2024
Checking warranty provisions with the importer is essential to understanding the coverage and potential differences in warranty periods. Warranty would not be possible so as all extended warranty only if backed by trade sellers warranty.
How to buy your first car
CarExpert
MAY 17, 2024
Some also offer service packages that can be bundled into the purchase price of the car, which means they can be included in finance. Some companies, like Audi and Skoda, offer capped-price servicing and extended warranties or service packages for their older models as well.
What to Expect When Visiting a Used Car Dealership
MforceLA
JUNE 21, 2023
Furthermore, these cars have extended warranties, and they are usually in better shape than most used cars on the market. Moreover, such dealerships offer affordable financing options that provide you with a reliable ride without breaking the bank.
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Tips for Buying Used EV Cars for Sale
Cartime Super Center
AUGUST 7, 2024
However, you may find earlier EVs you like with expired battery warranties. Plus, EV manufacturers offer extended warranties for batteries and other components. Since 1985, Car Time Supercenter has offered quality used cars, trucks, and SUVs , competitive prices, flexible financing , and hometown customer care.
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How to Haggle Car Price Like a Pro
Your Car Buying Advocate
JULY 31, 2023
Like “ MSRP ,” “ Invoice Price ,” and “ Financing.” Understanding Financing, If Applicable When buying a car, there’s somuch more to consider than just the sticker price. Financing is one of those things that can greatly affect the total cost of your vehicle.
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What to consider when buying your last car
CarExpert
JANUARY 13, 2024
Look for a family member who knows about cars, someone who knows about finances, and perhaps even a relative or family friend who is interested in your current wheels. Finances are vital, but so too are freedom and mobility, as well as removing the worry that is inevitable on an old ‘clunker’ that requires constant maintenance.
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4 Buyer Personas for Dealers to Know in 2024
Automotive Mastermind
NOVEMBER 3, 2023
Special trade-in incentives, flexible financing options or highlighting the reduced maintenance of newer models can be strong motivators for these customers to consider making a purchase. Nomad Buyers Nomad buyers, also known as “one and done” buyers who own a brand once and defect, are a challenging yet invaluable segment for dealers.
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Profitable Strategies for the Used Car Business
AutoRaptor
DECEMBER 19, 2023
Offer extended warranties, flexible financing options, and efficient customer support. Familiarize yourself with local, state, and federal regulations governing the sale and financing of used cars. Regularly communicate with customers to ensure their satisfaction and address any concerns promptly.
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Content Marketing Strategies for Lead Generation in Car Dealerships: Boost Sales Online
Turbo Marketing Solutions
JUNE 13, 2024
Financing and Insurance Guidance Purchasing a vehicle involves not only choosing the right car but also understanding the financial aspects and insurance considerations. When customers feel confident about their financing options, they are more likely to consider your dealership for their vehicle purchase.
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How to Crack the Code on Future-Proofing Your Dealership in 2024
Automotive Mastermind
DECEMBER 15, 2023
This involves understanding and leveraging new media and digital channels, adopting more flexible financing options, and offering customized solutions that cater to individual customer needs. Car dealers need to adapt their business model with marketing and sales strategies that address the changing customer profiles and expectations.
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The Importance of a Used Car Warranty
Auto City
SEPTEMBER 24, 2014
How important is it to purchase an extended warranty when purchasing a new used vehicle and is it worth it? Why is a warranty so important? One of the easiest ways to purchase an extended warranty for your used vehicle is through the dealer from which you purchased the automobile.
Economic Trends Expected to Shift for Car Dealers in Q4
Automotive Mastermind
SEPTEMBER 16, 2022
By understanding the economic trends shaping the automotive retail landscape, dealers can proactively plan ahead by: · Adapting to financing challenges by creating a buying experience that speaks to customers’ concerns; this includes marketing F&I products like extended warranties and wrap coverage, or assistance in raising their credit score.
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AI in Pricing Strategies: Revolutionizing the Automotive Industry
Turbo Marketing Solutions
APRIL 9, 2024
For example, if AI predicts that customers are becoming more price-sensitive due to economic factors, businesses can adjust their promotional offers or financing options accordingly. On the other hand, the dealership might discover that budget-conscious customers are more incentivized by discounts on accessories or lower financing rates.
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It Just Got Harder For Car Dealers To Scam You
Jalopnik
DECEMBER 13, 2023
The Federal Trade Commission has announced new regulations, called the Combating Auto Retail Scams Rule , that are meant to stop car dealers from screwing customers with hidden fees and other bait-and-switch pricing tactics. Oh, happy days! Read more.
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