April 6th, 2017
Welcome to Agent Entrepreneur, a monthly eMagazine dedicated to the interests and concerns of general agents and entrepreneurs in the automotive finance and insurance industry. Agent Entrepreneur is your source for industry news and updates as well as original feature articles to keep you well-informed of best practices and trends.
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Agents have an opportunity to make econtracting a reality for their dealers. The first step is understanding how electronic contracts differ from DMS-printed contracts.
By: Ron Greer
Gone are the days where a handshake meant an honored agreement. The consumer product agreement is always changing, creating more work to make sure your dealers’ forms are current and accurate. The need to speed up F&I while minimizing financial risks and regulatory impacts places great urgency on the dealer to econtract aftermarket products. The ... Read More »
President-elect Trump promised that sweeping reforms would be a hallmark of his administration, but agents and dealers can only guess at how his administration will affect their businesses.
By: Robert J. Wilson Esq.
There is an old adage (some say a curse) that says, “May you live in interesting times.” Surely we are doing so now. The $64,000 question is what does the Trump presidency mean for the automotive industry? Some attention-grabbing headlines state that Trump will dismantle the Dodd-Frank Wall Street Reform and Consumer Protection Act. Digging ... Read More »
For agents who consistently connect with decisionmakers in the Digital Age, social media is often the first stop on the road to the sale.
By: George Dans
One of the biggest mysteries in this business is trying to find the decisionmaker at the dealership who can buy or use your services. If you stacked up all the agents who gave up because they couldn’t reach the decisionmaker to make an appointment, get them to take your call, get hold of them, get ... Read More »
LAS VEGAS — Organizers of the upcoming Agent Summit have announced that Brian Reed, president and CEO of F&I Express, will serve as moderator for “The Great Debate — F&I Products Online,” a highly anticipated panel discussion. The event will be held May 21–24, 2017, at Paris Las Vegas, and Reed’s panel will begin at ... Read More »
LAS VEGAS — Gina Cocking of Colonnade Advisors will present “M&A in the F&I Industry,” a special, agent principals-only session at the upcoming Agent Summit, organizers announced. The event will be held May 21–24, 2017, at Paris Las Vegas. “Mergers and acquisitions are an oft-discussed topic in the agency segment, but the causes and effects ... Read More »
History’s greatest touring band gave their customers what they wanted and never repeated a setlist.
By: Rick McCormick
In 2004, Rolling Stone ranked the Grateful Dead No. 57 on their list of the “100 Greatest Artists of All Time.” The Grateful Dead were considered the greatest touring band in history. They performed more than 2,300 concerts. In their early career, the band also dedicated their time and talents to their community, the Haight-Ashbury area of ... Read More »
Agents must train F&I managers to rely on your process and their talents or risk stealing their own production and their customers’ trust.
By: Rick McCormick
Emmanuel Ninger was arrested for counterfeiting in 1887 after he handed a clerk, whose hands were wet, a $20 bill and the ink started smearing. A search of his attic found that he was hand-painting each bill! They also found three paintings he had created which, after his arrest, were sold at auction for a ... Read More »
Delivery Follow Up
Watch the Tip Here »
Hello! This is Fernando with UDS with this week's tip
The other day I was doing training in one of our stores and I took a T.O. on a cash deal. We did presentations and closes but the customer...
Cell Phone or Stapler Technique
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Gerry Gould of UDS with this week's tip!
Today I'd like to talk about technology again. Tech-nol-o-gy, okay. One of the things you should begin right now with your next customer is, before you present anything to the customer...
Small Business Tips
It’s not every day you get to hold an Olympic gold medal. Rarer still is the opportunity to get inside the head of an Olympian. At our annual conference this year, four-time Olympic triathlete Simon Whitfield gave us the honor to do both, reports Forbes
. He shared with us his story of determination, success, failure ... Read More »
If you are looking to access a job, venture capital or clients – the opportunity is in your network. A survey suggests nearly 85% of all jobs are filled via networking, as reported by Inc.
Networking may not be on the “favorite things to do” list. It is often awkward and time consuming. You may half-heartedly attend ... Read More »
Difficult people defy logic. Some are blissfully unaware of the negative impact that they have on those around them, and others seem to derive satisfaction from creating chaos and pushing other people’s buttons. Either way, they create unnecessary complexity, strife and worst of all stress. Studies have long shown that stress can have a lasting, ... Read More »
Entrepreneurship, and arguably business in general for that matter, is all about the art of the deal. Whether you’re hiring employees, selling your product, or raising capital, deals are what make the world go ‘round. Deal making is equal parts euphoric and depressing. The roller coaster ride that accompanies most deals, regardless of the amount ... Read More »
Remarkable entrepreneurs and leaders know that emotional intelligence and being a likable person contribute immensely to their success. It’s no surprise when you consider that hiring key employees, managing teams and landing big deals all boils down to building trust and making meaningful connections with others, says Inc
. The centerpiece of this process is communication. You simply can’t afford to be ... Read More »
Some individuals possess particular qualities that steer the way towards becoming a great leader, reports Entrepreneur.
Here, we outline 22 that could help lead you to greatness: 1. Focus “It’s been said that leadership is making important but unpopular decisions. That’s certainly a partial truth, but I think it underscores the importance of focus. To ... Read More »
“I’m so excited, and I just can’t hide it ... I’m about to lose control and I think I like it.” With apologies to the Pointer Sisters, I’m not excited about most press releases. Neither are the media who get about thousands, if not millions, per day, says Forbes
. By their format and nature, press ... Read More »
Who’s the onus on to match your company with the right hires–potential candidates searching for a job, or you? Although you definitely want to do your best to attract active searchers in a cost-effective way that remains on-brand, you don’t want to miss out on great candidates that could be hiding in plain sight. Just because people aren’t out ... Read More »
Entrepreneurs are a unique breed of people. We like to do things our way and are known for our almost obsessive attraction to habits. But, there’s a good reason for that. Habits help us achieve our goals, keep us motivated, eliminates wasted time, and improve our lives altogether, reports Entrepreneur.
Arguably, the most important habit for ... Read More »
There are few things Raman Sehgal, founder and CEO of the award-winning ramarketing, a digital marketing and PR agency, regrets in his life. The one thing he regrets most is not taking the time in his younger years to keep up with his learning. He focused on other things, says Forbes
. “I was starting my ... Read More »
Automotive Industry News
AUSTIN – RoadVantage, the fastest-growing provider of F&I programs for the automotive industry, announced today that its Interior/Exterior Vehicle Service Contract program has just completed a year of record sales. “When we launched our Interior/Exterior VSC a year ago as part of our powerful multi- option bundle, it generated a lot of excitement among agents and ... Read More »
Bike Week in Daytona, FL has historically been the unofficial kick-off of motorcycle season for the majority of the riders in the country. Warm weather, extended weekends and long cruises with our friends are just some of the things we riders look forward to as spring settles in and snow piles disappear. For NAE/NWAN, the ... Read More »
DETROIT — Ally today introduced an online marketplace called Clearlane. It connects consumers with auto finance providers to finance or refinance their vehicles with ease. Clearlane’s process provides customers with quotes from a robust network of finance providers, as well personalized support to help apply for and complete transactions. “With Clearlane, Ally adds a unique ... Read More »
PHILADELPHIA – Alpha Warranty Services, Inc. continues to support the local community by Delivering the Unexpected to those in need. Alpha Warranty Services has a long history of being able to partner with their agents and dealers to Deliver the Unexpected to those in need. When Alpha representative Cheryl Barlow learned that Dani’s Auto received ... Read More »
SAN FRANCISCO — Wells Fargo & Company has appointed 20-year company veteran Laura Schupbach head of Dealer Services, effective April 3, 2017. Schupbach will report to Franklin Codel, head of Consumer Lending and will be based out of Phoenix. Since 2011, Schupbach led the Wells Fargo Insurance business, which is one of the top insurance ... Read More »
DALLAS – MUSA Auto Finance, an auto finance company specializing in new and pre-owned vehicle leasing, announced today it has entered into a $125 million warehouse facility with Goldman Sachs and additionally, secured a capital investment of up to $50 million from Crestline Investors, Inc. The capital investment along with the warehouse facility will provide MUSA ... Read More »
NEW YORK — Total Dealer Compliance (TDC), a car dealership compliance-auditing firm, today announced the launch of its Virtual Compliance Training platform. This online training solution will help car dealers mitigate risk faced by proactive regulators, creating a culture of compliance at a fraction of the cost. With TDC charging roughly 80% less than their ... Read More »
WASHINGTON, D.C. — The Consumer Financial Protection Bureau took action against Experian and its subsidiaries for falsely claiming in advertisements that credit scores it offers and provides to consumers are used by finance sources to make credit decisions. Today’s announcement comes almost 15 months after the bureau took similar action against Equifax and TransUnion. The ... Read More »
TORRANCE, Calif. — The submission deadline for the 2017 F&I Digital Media Awards has been extended to Friday, Apr. 28, 2017, organizers announced. Dealers, agents, product providers, marketers and manufacturers are all welcome to participate. The F&I Digital Media Awards were created to recognize companies and individuals who are driving innovation in the digital F&I space ... Read More »
IRVING, Texas – Jeff Snowden, one of the early advocates of paintless dent repair (PDR) and a longtime employee of Dent Zone, was presented the Lifetime Achievement Award at the International Mobile Tech Expo in Orlando recently. Snowden was recognized for his more than 25 years of service and leadership in the PDR industry. “And what’s ... Read More »
NAPA, Cali. – AUL Corp., the award-winning and leading warranty and vehicle service contract administrator in America, just released their 2017 F&I Training Schedule. This will be AUL’s second year of offering F&I Training. This training provides a tailored education that includes a 3-day live course, virtual training sessions and an online platform that includes ... Read More »
ST. LOUIS – Wise F&I, a long standing company in the automotive finance and insurance market, has a full suite of voluntary protection products available through MaximTrak, A RouteOne Company. MaximTrak offers a highly customizable all-in-one F&I menu platform and streamlines access to Wise F&I products for their mutual automotive dealers. Access to Wise F&I’s full ... Read More »
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