Industry News

Let em “buy”

Menu’s – Presenting value and all the options, is in fact allowing them to buy.  In 2013 most everyone has a menu “in the deal”.  This doesn’t mean F&I is actually menu selling.  The truth is still most are “Step Selling” and using a menu to do that.  Self-Exam – Is your finance department allowing your clients “to buy” from the dealership?  The answer is likely 100% NO, if any viable product you have is less than 10%.  It doesn’t matter if you tell me or yourself the menu is in the deal.  If less than 10% is a highly probable indicator your manager(s) are likely step selling, using a menu and likely NOT menu practicing buying. Don’t believe me!  Well 10% of the people buy anything, right? (more…)

The End of Truecar? Maybe…

When Truecar first burst onto the scene, some thought it was a good idea. Only paying for delivered customers sounded much better than the ocean of junk leads being sold back then. 

Unfortunately, it wasn’t long before ridiculous pricing practices caused lots of backlash. Then in 2011, for various reasons things got even uglier. I’m talking legal battles and a mass exodus of dealers. It got so bad in fact, the number of dealers using Truecar dropped from 5600 in 2011, to barely 3,600 by March 2012. After taking a $75,000,000 blood bath, CEO Scott Painter was forced to make some major changes.