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Car ownership has long been a symbol of independence and mobility, but the way people finance their vehicles has evolved significantly. With more consumers opting for car finance agreements to afford their dream cars, issues related to transparency and fair lending practices have become a growing concern.
The used vehicle market in 2024 was a rollercoaster, influenced by a mix of factors, according to DesRosiers Automotive Consultants. Despite easing pressures in pricing and financing, the broader challenges facing the Canadian economy leave some uncertainty, DesRosiers reported. per cent from the same time last year.
Understanding how to adjust your business finances in 2025 as auto repair costs rise isnt just about survival. It Starts with a Single Conversation Adjusting your shops finances isnt just a reactive move, its a leadership decision. Call us at (940) 400-1008 or schedule your free consultation here. So how do you stay ahead?
Aside from keeping your finances neat and tidy, we also offer business consulting to help you boost revenue. Client Revenue Increases Many people think the sole purpose of hiring a bookkeeper is to keep financial documents and records on track. However, that’s just a sliver of what we do.
Revolutionizing subprime auto finance For businesses involved in subprime auto financing, blockchain offers transformative potential: Improve credit scoring: Decentralized data can help create more accurate and dynamic credit profiles, enabling lenders to better assess risk and potentially increasing access to financing for underserved populations.
Babcox Media announces the promotion of Mike Maleski and Brandi Gangel to co-presidents, as well as the addition of Sam Littman as director of finance & operations. Additionally, we’re excited to welcome Sam Littman, whose fresh perspective and strategic consulting experience will support our ongoing evolution as we grow our business.”
Consult with an insurance professional to identify the best policies for your needs. Collaborating with Financial and Business Experts Working with accountants, local banks, and business professionals provides valuable insight into managing your finances and streamlining operations.
A new dealership sentiment survey from Kerrigan Advisors, a dealership consulting Read more. The Transatlantic automaker just posed a 15 percent overall U.S. sales drop in 2024 in comparison to 2023, and now it seems its dealers dont even trust the direction it is heading in.
Babcox Media is proud to announce the promotion of Mike Maleski and Brandi Gangel to co-presidents, as well as the addition of Sam Littman as director of finance & operations. About Sam Littman Sam Littman joins Babcox Media as director of finance & operations.
Local dealerships have begun offering flexible financing options, scaled vehicle solutions, and direct consultations to help independent contractors build out the vehicles they need without overspending. In fact, small businesses and sole traders are some of the biggest beneficiaries of this new model.
I have had my share of epic fails, from financial hardships where food and finances were in short supply, to dealing with crooked people in my employ who decided to liberate funds from my shop for their own gain. But, hey, at least I sought one out at the midpoint and not at the end of my career as a shop owner.
For example, in sales, we might have a natural gift for building rapport but avoid learning financing because numbers and details dont come naturally. For finance managers, it could involve developing stronger interpersonal skills if number-crunching is their comfort zone.
Consult a trusted mechanic: It’s best to speak with a reliable mechanic to identify the exact parts for your vehicle. Check warranty or financing coverage: Find out if your vehicle is still under a powertrain or extended warranty that may cover steering components.
Consult a Car Accident Lawyer If you suffered injuries or significant property damage, seeking legal representation can make a significant difference in your case. Always consult a lawyer before agreeing to a settlement. Be cautious of low settlement offers. Insurance companies often try to settle quickly for less than you deserve.
The automotive industry is experiencing a noticeable shift in consumer behavior and market dynamics, particularly in regard to finance and insurance (F&I) products. of dealers feel that more flexible financing options are necessary. The survey indicates that 23.9% The key to success in this evolving market will be adaptability.
YOU WAKE UP AND IT'S A NEW DAY Reliability and peace of mind usually go hand and hand. Most often it’s not top of mind. You go through your day, expect that your morning shower will produce the hot steady flow of water that you are accustomed to and you don’t really even give it any thought.
Customer Knowledge: When customers come to us to guide them in their automotive needs, there are questions we should ask during our initial consultation with them that will allow us to tailor our presentation to meet their specific requests. What is the amount of the balance and current payment, and who is it financed with?
Joining DP Fox as vice president of finance in 1993, she oversaw the acquisition of all Fox Motors dealerships since 2000. Before her role at DP Fox, Maher built a strong financial foundation at Deloitte & Touche LLP as an audit manager and consultant. Her expertise extends beyond professional accomplishments.
Insurance and Financing Considerations Vehicle histories increasingly influence insurance rates and financing terms. Similarly, lenders may offer less favorable financing terms for vehicles with histories that suggest potential reliability issues, recognizing the increased risk of default if major repairs become necessary.
Understanding common missteps made during car insurance renewal will enable informed decisions, protect finances, and ensure maximum protection. When renewing your car insurance policy, it’s best to consult experienced brokers.
Digital retailing platforms: Online platforms allow customers to complete much of the car-buying process online, including financing and trade-in evaluations. Complex decision-making : Despite AI’s capabilities, customers often rely on human expertise to understand complex features, financing options, and vehicle comparisons.
If you need help getting your bookkeeping and finances organized and ready for tax season, I’m happy to help with our bookkeeping and financial services. Feel free to browse our services and book a free consultation call with us today! View full article
Their role transcends beyond mere consultation; they become educators, guides, and often the face of trust for the dealership or service center. Amidst this backdrop, the service advisor emerges as the linchpin, bridging the gap between intricate automotive intricacies and the everyday car owner.
Consider Consulting With a Lawyer if Needed There are times when its a good idea to consider getting advice from a lawyer. Following these guidelines can help folks handle the aftermath well and protect both their safety and finances. Patiently dealing with the people involved will keep things organized and under control.
Babcox Media announces the promotion of Mike Maleski and Brandi Gangel to co-presidents, as well as the addition of Sam Littman as director of finance & operations. Additionally, we’re excited to welcome Sam Littman, whose fresh perspective and strategic consulting experience will support our ongoing evolution as we grow our business.”
Consult with a business attorney to understand what applicable laws and regulations your tire shop must abide by before moving ahead too swiftly. At the very least, contract an accountant to oversee finances and a human resources manager to handle hiring.
According to LendEDU, nearly 54% of Millennials compared auto finance rates before purchasing a vehicle, and 60% were not surprised by maintenance costs due to prior research. If your online review process needs improving, consult your own digital native associates for input.
Consult your insurance provider: Depending on your coverage, you may be able to partially or fully finance the replacement of a drive shaft through your vehicle insurance. Check your warranty: Your warranty should cover a drive shaft failure caused by defective components. How to Prevent Drive Shaft Issues?
As experts in auto repair shop consulting , we understand the common pitfalls that many shop owners face and how to steer clear of them. As auto repair shop consultants, we’ve seen firsthand the impact that neglecting customer relationships can have on a business.
Regularly reviewing financial statements and working with an auto repair shop consultant can provide insights into your financial health and help identify areas for improvement. Partnering for Success AutoFix Auto Shop Coaching, under the guidance of auto repair coach/consultant Chris Cotton, is dedicated to helping shop owners thrive.
Growth today demands a detailed, strategic plan that aligns operations, marketing, finances, and leadership into a cohesive, actionable vision. No Strategic Growth Plan Wishing for better results without a roadmap is a recipe for frustration.
With Vera Suite software and consulting services, KPA provides the automotive community with complete compliance that covers the front and back of the dealership, ensuring environmental, health and safety as well as human resources, advertising, sales and finance compliance.
Consult with reputable repair shops and inquire about their experience, certifications, and warranty offerings. This way, you can plan your finances accordingly and avoid any surprises along the way. Consult with experts to determine the most suitable repair method for your specific situation.
Shifting economic conditions, financing rates and consumer preferences collectively dampen demand and complicate the sourcing of inventory. To put this into perspective, 81%, or more than 60,000 dealerships, say that these historic inventory shortages are their most critical challenge (Boston Consulting Group).
Their role transcends beyond mere consultation; they become educators, guides, and often the face of trust for the dealership or service center. Collaborating with lending institutions can expand the range of financing options available 2. In this role, active listening is as critical as clear articulation.
If you’re wondering how that works, take a look at the seven ways auto repair shop consulting can improve your work-life balance. As you gain control of your finances, your ideal work/life balance will follow. Ready to Start Your Auto Repair Shop Consulting Journey? Listen to the Podcast Facebook Twitter LinkedIn
This investment takes the form of training, says Tarasik, including management, finances and marketing training, because as you’re investing in their skills, they’re going to become more eager to take the business over. Ensure you have sound financial statements and consider consulting with financial experts to secure your financial future.
High Costs of New Car Financing On top of all this, there’s the elephant in the room—the high costs of new car financing. Consult Your Team: Now’s a great time for a staff meeting to discuss these issues. Older vehicles require more frequent and more significant repairs.
The union combines BCP’s lead engagement platform, generative AI for SMS/email and BDC operations with PDS’s Brooke AI Digital Voice Assistant, BDC technology and in-store retail performance consulting and training. Over 2,500 dealers across the United States currently partner with BCP.
While the F&I office is responsible for managing the financing and insurance aspect of a vehicle purchase, each department touches F&I, including sales and fixed ops, and it’s important that all employees understand their F&I roles and responsibilities.
According to Bova, the program offers benefits in five categories: incentives and finance; office and software; marketing, training, and parts; oil; and warranty services, and is free to members who want to join. Dealers can also participate in the Synchrony Car Care credit card program, offering financing options for consumers.
Between chat, digital retailing, finance tools, trade tools, popup offers and more, the vast majority of dealers have at least one tool that they pay for monthly that isn’t in use. Most of our dealers find they can save $500-1,000/month just by optimizing their website package.
YOU ARE COVERED At Automotive Magic we put our customers first. Providing superior service by our ASE Certified Technicians is just one way that we are dedicated to giving you the level of quality and excellence you deserve.
At Automotive Magic we have been in the business of automotive repair and serving our community for 17 years. We are excited and honored to announce that we are a AAA Approved Auto Repair facility!
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