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  1. How I Would Spend My Money in Marketing Special Finance, Today

    Over the years I am always posed with many questions about Special Finance, but one of those that comes up as often as any other is “Where should I be advertising for SF Customers?”  One of my degrees was for marketing, and I spent millions in marketing my dealerships, but this is not an easy question to answer.  Nonetheless, I am not afraid to offer my opinion on a subject where there are probably as many as there are dealers and vendors combined.

    First, a few ground rules and disclaimers:  Before making any changes whatsoever, it is paramount to know what the specific results of your existing marketing efforts are.  You need to know how many leads (whether web site, third party, loan-by-phone or phone calls) you currently are receiving and working.  Additionally, you need to know the total opportunities you are receiving (leads PLUS the total of walk-ins, repeat/referrals and be-backs).  Once you are able to measure what you are currently creating for your advertising dollar, you are able to then determine its ROI, as well as the impact of a change or increase in spending.  If you are like many, and pull the trigger on something new before you measure your existing business, you may never know what the real value of the change might be.

    Second, don’t change everything at once!  There is a long-used (and likely overused) adage in advertising:  “Half of your advertising works, you just never know which half it is.” Even if you are already measuring your results, making mass changes in advertising all at once leads to something working really well, something else having horrendous results, and in the end, the overall results washing out about the same.  What if you had only spent money to do what worked – and maybe more of it?

    Third is a reminder that advertising is more of a black art than it is a science. Just because it may work grandly in one store or area doesn’t necessarily mean that the results will duplicate themselves in another.

    Fourth comes the budget. Oh yeah, money.  Based on my gross profit expectations per car, and ad expense as a percent of gross profit, that would equate to $385 per car, or 11% of gross profit.  Remember, this is MY money that I am talking about spending. You can spend more.

    Finally, I am going to tell what I would do if it were my store and I was spending my money.  That would also mean that I would already have all the critical components in place, a store staffed and trained properly to handle the traffic, and a BDC ready to handle the increase in leads.  Anything short of that would be a classic example of “Fire, Ready, Aim,” and would result in burning through a bunch of excess advertising money to get the same results.

    References From Credit Applications

    The apple doesn’t fall far from the tree.  We used to collect 10 references on each application.  Those references had addresses and phone numbers.  All you have to do is dump them in a data base, internally create a letter that you send out that introduces you and your dealership and invites them in to show them the same programs that you recently had an opportunity to show their friend/relative.  Run them through the Do Not Call list and call those that are not listed with 48 hours of them receiving the letter.  It is tough to find a more cost effective way to generate traffic.  Oh, by the way, you don’t have to have sold their friend/relative, you just have to have treated them well and have had them leave with a positive experience.

    Third Party Leads

    OK, with those ground rules and disclaimers, the first thing I would want are more leads.  “Quality leads,” as I always hear.  Why that first?  It’s simple.  If you have a machine that can turn opportunities into sales, then all you need are more opportunities.  You can buy third party leads and start receiving the traffic within 24 hours. Like most dealers, I am not one to like to wait around.

    To get them, I would go to lead providers that I know and trust to provide real-time and legitimate leads. Yes, there are a bunch of schlochs out there and you have to sort through them, but there are three companies that I (and my clients) have used very successfully.  The average cost per lead is higher but so is the quality.  I would rather have my BDC work fewer but better leads than having them calling a bunch of junk leads that equate to dialing a telephone book.  I would expect a 12% – 13% delivery rate on what I buy.


    Next I would have two “Special Finance Only” sites.  The first would be branded.  If my stores were Greg Goebel Chevrolet, or Greg Goebel Ford, it would be I would take advantage of my name that would already be well-respected and recognized in my market and add “auto credit” or “credit center.”

    The site would be upbeat and friendly, and all about how the ease of applying and getting approved.  All the copy would be focused on encouraging the customer to complete and online application (which becomes a lead).  It would be a multi-stepped application where the first screen provides my privacy policy, clicks through it to a simple contact info screen where you simply get the customer’s name and contact information.  From there, you continue to a more involved credit questionnaire where you get address, social, job time, etc.  I prefer to break the app into sections where any time a customer “bails” out, the dealership receives the information from the prior section so it at least becomes a lead.

    The site would have to be “sticky.” Even with friendly and inviting copy, people get cold feet. It would certainly include incentives such as a game or gift card to increase the unique visitors to conversion ratio to a minimum of 5% from the industry average of 2%.

    Additionally, it would NOT have a “talking head.” I know that websites with a female guiding you through the application process seem more friendly and engaging, but remember, the majority of your subprime customers are applying from work. As soon as the “instant on” voice starts talking the applicant is likely going to click-out just to keep from drawing attention.

    This URL would be included in absolutely every other type of advertising I did.  Whether traditional broadcast or print, the URL would be there, along with perhaps a simple tag line, “Financing for Everyone,” or if I were a CAC dealer, “Guaranteed Credit Approval.”

    The second site would be non-branded.  It would be a clone of the first site, only it would not include my name.  It would be something like or  Why? I go back to my days as a Hyundai dealer in the Midwest.  It was primarily a truck market back then, and that meant you needed to have a GM, Ford or Dodge franchise.  I didn’t then. As a result, my ads directed to rather than to a Hyundai branded URL.  Truck buyers couldn’t SPELL Hyundai back in the late 90s or early 2000s, let alone come to a Hyundai store to buy a truck.  The same goes if you are a Chevy dealer talking to a Toyota loyalist.  These leads will be slightly harder to appoint and get into the store than a branded site (after all, they know who they are contacting with a branded site), but they still are very valuable leads.

    Not all website providers are built equally.  This is especially the case with when it comes to organic SEO and delivery times.  Expect to pay $500 – $800 a month for each site.  Can you get them done for much less? Sure you can.  Just make sure that whoever says they can, is actually delivering good results for many other dealers before you sign.  The expected results – a minimum 15% delivery rate for leads.  At $385 per car sold, that would mean a $1500 spend would need to deliver 26 leads to provide 4 sales to cover the expense.  I know dealers that are receiving 600 or more leads off their credit microsites.  It is easy to understand why I like them so much!

    Pay Per Click

    To create unique visitors, you must rely on searching well.  Even with great SEO, one of the top three positions in search is apt to come up as a competitor through Pay Per Click.  PPC will greatly enhance the ability or your sites to create leads.  Assuming the sites are indeed sticky, then the more traffic you can funnel through them, the more leads you will create.  SF terms can be costly in PPC, but as long as your site converts, it is a matter of math.  If it costs $20 to create a unique visitor then at a 6% conversion ratio from clicks to leads, and a 15% closing ratio, you would need to average about $3.50 per click to make it cost effective.

    Direct Mail

    Yep, that old dinosaur still works.  Are there a bunch of “pretenders” in this space as well? Yep, you better believe it, but if you can sort through those, there are some very good companies still providing some very strong results.

    With direct mail you have two real types when it comes to the SF business.  First you have what I call “credit mail.”  It could be niche marketed mail targeting Open Chapter 7 or discharged bankruptcies that could even be generated weekly at the dealership on dealership letterhead.  It could be mail sourced through some reliable credit mail houses that allow you to pick certain parameters such as credit score range, equity in vehicle, prior interest rates, etc.  It could even be sourced through one of the finance companies like Capital One or CPS where the recipient is pre-approved.  Bottom line, it is helping you fire a laser shot at your target as opposed to blasting away with a shotgun.

    The second type is basically saturation mail.   You are mailing to basically every address in a particular area/market.  As opposed to a laser shot or even a shotgun, this is more like an atomic bomb.  Everyone in its path is going to feel it.  The best involve games/gifts, but the dealership must be adept at handling a high amount of traffic over a few number of days AND converting gift grabbers into buyers.  For those that are proficient at that, and many are, the results can be staggering.

    The differences are very important.  Direct mail (along with some other types of advertising) can be likened to trying to drink out of a fire hose.  Credit mail can be done on a controlled (dealership) or small volume basis.  Saturation mail, obviously not the case.  Credit mail involves people coming in because they are looking to get financed, where saturation mail creates people often looking for a gift.  Both can be very effective, but is your team ready to handle a day with 400 – 500 ups?  My store would be.

    My budget would be somewhere in the $0.75 range, depending on the piece.  I would certainly use credit mail, then bring in saturation, making sure I had enough people on staff to handle the traffic.

    …and then?

    If I still could handle more traffic, I certainly would be using broadcast media.  Remember, I was the second guy to ever use a SF infomercial.  Whether television or radio, I would be there depending on the market, but also remember, I would already be there for the traditional/prime marketing.  As I grow my business, I am monitoring what is and isn’t working and adjusting.  If I needed more leads, and as long as they were cost effective, broadcast will certainly deliver.

    So there you have it. There are obviously even more ways to market and advertise, and over the years I probably tried most of them.  As I said, this list is my opinion of what I would do myself if I still had dealerships. Is this guaranteed to work for you? No, that was one of my ground rules.  It is, however, guaranteed to be what I would do.

    Until next month.
    Great Selling!




  2. The Right Car for Special Finance

    The most significant event during a special finance transaction is getting the customer interested in the “right car.” The right car is the vehicle that best fits the customer’s needs and budget, and is the one that makes the dealer the most money. However, too many special finance deals are blown, time is wasted and significant profit is thrown away because the sales team is too busy trying to sell the wrong car—the one that the customer wants initially when they walk onto the lot, or the most expensive one, or the one most difficult to finance. Special finance is all about understanding the customer’s needs and structuring a deal around those needs that makes sense to the lender and makes money for the dealership. Successful dealers must have an ample supply and the right mix of special finance inventory. They must also have a keen ability to control the deal by selecting and re-selecting the most appropriate vehicle for the sale.

    What is the right car? It is the vehicle that fits the budget of the customer in the terms of both down payment and monthly payment. It is the vehicle that fits the customer’s functional needs. And, it is the vehicle that earns the dealership an acceptable amount of gross profit! It is most likely not the specific vehicle that the customer wants initially. The right car is one that can be financed at a term where the monthly payment will be no more than 18 to 20 percent of the customer’s gross monthly income, which is typically less than $400 per month. But, since most customers have champagne tastes on beer budgets, the salesperson must be tactful and able to direct the focus of the sale away from the vehicle and to a sales process that builds rapport, gains trust and discovers the real needs of the customer. This is the fundamental difference between conventional and any non-prime automotive finance; it all starts with the right inventory.

    Where do I find the right car? Several dealers and used car managers I visit complain that the special finance vehicle just isn’t out there. You can’t find them. I disagree. The problem isn’t so much where they’re looking, but rather “how” they are looking for inventory. The business is very competitive today, so the traditional tactics of buying have evolved into a science in order to stock the lot with inventory that the customer will buy and the lenders will finance. The special finance customer needs reliable transportation that fits their budget and daily use. The customer wants the best value they can get for their money (and credit) and, as with any of us, we all like options.

    Today, vehicle mileage is not as important as the age of the vehicle, its condition, the options it has and its reliability. So first, look at your inventory from the buyer’s perspective and answer these three questions: Does this vehicle fit the customer’s budget (Can you finance it at a term where the monthly payment will be below $400?) Does the vehicle fit the customer’s daily need? And, will the customer feel good about their purchase? (Is it reliable and are they proud to tell others what they bought and from where they bought it?) If you can answer yes to each of these three questions, the rest is about consistency, leadership and discipline, and you have just solved one of the biggest mysteries in special finance.

    The special finance inventory buyer must be disciplined when purchasing vehicles. They must fully understand the relationship between market value and book value. And, they must take into account the total transportation and reconditioning expenses that will be added to the cost of each vehicle. They must also have a thorough working knowledge of what the finance companies will finance. These buyers must be well prepared long before they ever raise their hand to bid on a vehicle. The heat of the moment, at the high-paced excitement of the auction block while bidding against other dealers, is not the place to start thinking about all these factors. The penalties for these mistakes are extremely expensive.

    The total amount you invest in inventory must be in line with the value of that vehicle as the banker sees it, or rather the “book” value, instead of just the market value. This value is typically listed as the NADA Trade-In value (Kelly Bluebook Wholesale on the West Coast) from which most finance sources calculate the loan-to-value (LTV) percentages to determine the risk factors and advance amounts for their loans. The market value is the actual cash value (ACV) of that vehicle today. If you were to sell your vehicle on the wholesale market, the market value is the net amount of the check you would take home.

    Unfortunately, the book values and the market values seldom correlate and change frequently. Inventory buyers who are too proud to use the technology available today, such as a Personal Data Assistant (PDA) loaded with software that contains the most recent book values and market reports are simply shooting in the dark and gambling on the block. The prudent buyer must be an expert on book value, the market value, and the finance source profiles in order to make the most informed wholesale purchasing decisions. They must be knowledgeable about mechanics, reconditioning costs and what sells in their market. And, they must be well prepared long before they ever raise their hand at the block. I guarantee that the competition is.

    To stock your dealership with the right cars, I recommend that you use a tiered purchasing grid that sales managers and wholesale buyers can use to communicate the inventory needs of the dealership. This grid should have at least four tiers to it that list the maximum age, mileage and ACV on all vehicles purchased for resale. Each tier is devised based on the vehicle restrictions of the finance sources with which you do business. The point is to take a team approach when buying your special finance inventory, communicate and always keep finance parameters in mind. They have the money and thus dictate the terms of the purchase. You must buy your inventory at a value whereby the total costs, when the vehicles are on the lot ready to sell, are at least $500 below the current book value in your market. The grid below is one that I recommend for use but should be tailored to fit your specific dealership.

    Max ACV

    Max Age 

    Max Mileage

    Tier A 




    Tier B




    Tier C




    Tier D




    Tier E 
    (Specialty Vehicles)




    The proprietor of any company, regardless of the type of business, must stock their shelves with inventory that sells and generates profit. These are some of the unique considerations and simple rules car dealers must follow when buying inventory for special finance. The vehicle has to be reliable, affordable and capture the interest of the customers walking through the door.

    There is plenty of inventory out there, but the Special Finance dealer has to be smart about what to buy, where to buy and when to buy. Inventory purchasing requires discipline, persistence, knowledge and a plan of action. It also requires a keen eye for quality vehicles that fit the intricate balance between book value and market value. There is an old adage regarding inventory that will always hold true: “Your profit is made or lost, starting with the buy.” Your special finance department will live and die by the inventory stocked on your lot.


  3. The Profit is in Solid Special Finance Inventory

    We’ve all heard the saying, “The profit is made when you buy the car.” What does this really mean? In our realm of special finance, we are besieged with customers trying to buy our stock of vehicles that we worked so hard to buy and buy right. We have bought really nice clean cars. We have scoured the auctions, weeded through the trade-ins and worked every wholesaler we know to the bone in order to buy the vehicles right because, we all know the profit is made when the car is bought.

    Well, this may not necessarily be the case. We may have the right idea in buying cars and may be able to secure some great buys; however, we must remember who our customers are. I see a great car buyer buying the wrong type of vehicles repeatedly. While you may think the dealership is buying some nice cars and getting good deals on them, there is just one problem; they are buying the wrong type of car.

    One of the most common problems in special finance is the getting the mix of proper inventory to match lender criteria. Quite often, a dealer will decide he is going to get into this realm of credit-challenged customers and then treats the business as an afterthought. The headaches of this realm are frequent because every customer has bad credit; however, the profit that can be made in this business can offset these headaches.

    In other words, this is not the easiest business in the world, and it has its share of stress. One of the basics to making high grosses is to have the proper inventory and, of course, be in it under book. In analyzing proper inventory for the special finance customer, one of the most important moves we can make is to see what structure the lenders want us to meet. Here are some facts in this segment:

    1. 80 percent of all funded deals have payments under $400 per month
    2. 80 percent of all purchased units should be in the $7,000 to $12,000 ACV range
    3. Purchased vehicles should be “lot ready” at least $500 back of NADA book
    4. 80 percent of vehicles should have under 50,000 miles
    5. Units should be priced to have payments at 20 percent or less of your customer’s gross income

    There are challenges and pitfalls in being a used car manager. One tendency is to get emotionally attached to certain makes and models. The type of car described above is not generally a very “exciting” unit.

    Another pitfall is that many used car managers don’t understand the lender guidelines and desking techniques in special finance. It is imperative that the person buying the units for the SF department understand how critical lender guidelines are. Make sure the special finance manager and the used car manager are working on the same page.

    High-mileage units are a constant problem. Remember, one of the key attributes of SF inventory is keeping 80 percent of the vehicles under 50,000 miles. When mileage goes over the 50K mark, lenders really start reining in the term that they allow on the deal, which increases the payments. Then to get the payment in line with what the customer can afford and/or what the lender has qualified, the gross must be cut. Soon your profits have disappeared, and a disaster remains.

    Systems and processes are the key components to having a profitable special finance department. However, even with the best processes in the world, you must have the right type of inventory or you will not hit the target gross you’re after.

    Inventory is not like fine wine; it doesn’t get better with age. Processes must be in place to make sure the inventory turns on a constant basis. This is critical! Target performance should be to have a 30- to 45-day supply of vehicles on hand. This means that if the dealership is selling 100 units per month, your inventory needs to be between 100 and 150 units. If more units are stocked, an aging problem will begin, compound and become more complicated every month. This is when grosses start to deteriorate, causing the whole system to cave. In many instances, this is the beginning of the end.

    It has been said that the salespeople are the lifeblood of our dealerships. If this is the case, then the inventory is the food that feeds our dealerships. We don’t want to eat the wrong food, or worse eat stale rotten food. We want healthy, clean and fresh food. This inventory will make us the most money and keep our staff and customers happy. Remember, it’s not just that the profit is made when you buy the car; the profit is made when you buy the right car!


  4. Weighing Business Development Options

    A business development center (BDC) needs to be run just like any other department in the dealership. BDCs are tools that should generate profit and not be looked at as a “necessary evil” that creates more expense. There are many factors to consider if you are planning to install a BDC. Some considerations are software, personnel, facilities, hardware, phone systems and costs. However, the number-one factor that should be considered is whether to set up and maintain an in-house BDC or outsource to a call center.

    Outsourcing a BDC’s responsibilities can have a huge upside if done correctly. A quick Google search reveals many companies competing to gain more market share of this growing segment of the dealership world. A good outsourced call center (OCC) should meet certain criteria:

    • Is the OCC experienced?
    • Do they have references you can call?
    • Does the OCC have an exclusive outside sales representative assigned to your dealership?
    • Does this rep have your best interests in mind?
    • Will they modify programs if you request it? If so, is this expensive?
      What type of software do they use?
    • How are reports generated? Are all leads tracked and put into reports? How timely is the information? How effective are their reporting methods?
    • What are the costs associated with this OCC?
    • Do they understand the auto industry and have product knowledge?
    • Do they have the ability to speak Spanish?
    • Sometimes I wish we had a cookie-cutter mold of organizations to work with in our industry, but the truth is all stores are different. Dealers are at different levels; therefore, a real in-depth analysis must be done to find out which direction is best. There are many items to consider before outsourcing. Some of those things include:
    • How much volume does your store do?
    • Do you need a full-blown BDC department or can one person handle all tasks?
    • How many leads are you currently generating, and where are they coming from?
    • What follow-up is being done now?

    The list can go on, but I think you get the idea. The concept of a BDC makes sense; however, trying to implement this concept into reality can be a grueling task that can swallow a lot of hard-earned dollars. Many dealerships have thrown a lot of money away developing in-house departments that have had limited (if any) success. I salute these dealerships for their effort, if nothing else, but I bet they wish they could have a do-over.

    If a dealer is going to make a commitment to install an in-house BDC, then I highly recommend utilizing some of the growing, specialized BDC companies to help set it up right. Don’t throw away good money on bad systems. Many dealerships have seen their business double, triple and quadruple as they have implemented solid BDCs in their stores. If utilized correctly, and I put heavy emphasis on “correctly,” this department can change the whole landscape of a store.

    Amazingly, in today’s market, there are still a lot of dealers who spend an absurd amount of money each month on advertising that is untracked. Think about this for a minute. Every area of a dealership is measure and monitored. Focus is put on utilizing systems, processes and procedures to help close the sale. Expenses are kept as low as possible. Personnel are tracked, measured and monitored in an effort to sell more vehicles. All of this is in place, yet a dealer will throw $50,000 (give or take) at advertising and not even have the foggiest idea if this money is working or not. This is insane! With an effective BDC or OCC, a dealer will know exactly what is working and what’s not. Money allocated for advertising is used much more wisely. When set up and run correctly, these centers generate tremendous profit for dealerships.

    Whether a BDC or OCC is used, clear and precise goals must be set. These can be more and better appointments, higher grosses, better CSI, and even more service drive traffic. This department must be run just like any other department in the store. The Business Development Manager (BDM) should report to the GM or dealer. Keep the sales managers and sales staff away from this department. The purpose of a good BDC or OCC is simply to set appointments; do not try to sell products over the phone. If this department is outsourced, make sure a competent in-house manager still supervises call activities and is held responsible for the results. Time frames should be established with respect to measuring results. Set goals, put a plan into place to accomplish the goals and set a time frame by which to measure the results.

    The bottom line: there are advantages (and disadvantages) with internal and external systems. Each dealership needs to do an analysis to choose the best system. If an internal system is utilized, you must have good training programs and good pay plans (I recommend an hourly rate with bonuses for appointments and closed deals), and utilize a good software system. For an external call center, make sure your ROI is where you want it. Don’t enlist an OCC and walk away; this is a trap too many dealers fall into. Your money will not be utilized at 100 percent if you do this. Remember, you have to “inspect what you expect,” internally or externally.

    Do a careful analysis and choose wisely. As the market becomes more and more competitive, good systems are becoming crucial in handling advertising, taking incoming calls, following up and maintaining your current customer base.


  5. Don’t Be Timid: Lack of Liquidity-Paired With Fear and Ego-Becomes a Lethal Mix

    It is a tough, tough market for many auto retailers. I warned of this last October saying the recession was here, and it is. I could care less about a few paltry economic growth indicators. I also said it was time to batten down the hatches, take action and make some tough decisions.

    Over the past couple of months, I have both spoken to and worked with some dealer groups that are getting kicked in the teeth big time. I am talking about seven-digit reversals over the past year (some involving very successful long-term dealers). What is really painful is watching a couple of them in particular – people I consider good friends – come to the point where they have had to sell or shut their doors.

    More will be faced with the same decision. A domestic dealer called me looking for help recently; he has been in the red for 21 of the last 25 months. I asked him how liquid he was, and he could only offer a forced laugh. He has owned the store for years and years and is suddenly staring the end square in the face.

    If you haven’t noticed, I strongly believe there has been a permanent shift in consumer buying preferences. GM and Ford believe so, as they have begun slashing their production of full-size SUVs and pickup trucks. If a company so dyed-in-the-wool as what Ford used to be can make such drastic decisions (kudos to Alan Mullaley), you’d better believe this market shift isn’t just a blip, and Ford’s and GM’s actions set the foundation of profitable operations going forward.

    The difference is that even Ford and GM have enough liquidity (I think and hope) to bear the consequences on their financial statement. Many retailers, especially the small- to medium-sized ones, don’t. Based both on conversations with dealers and the financial statements that I have seen, I would bet one in four dealers currently is out of trust on their floor plan.

    A twist on an old adage would be: bad decisions get you in trouble, and pride keeps you there. In this case, lack of liquidity causes bad decisions. Mind you, they may be the best decisions that can be made in a tough situation, but they are still decisions that would be avoided if cash wasn’t an issue. This is what starts the spiral in motion.

    I don’t have to tell you lack of liquidity is serious. Cash is king. If you are currently one of those dealers who is out of trust and out of cash, it is time to deal with it. Either find a way to recapitalize the dealership properly, go to your floor planner and create a work-out plan or find a buyer. Delaying it with lack of action due to fear or pride will just cost you more money, as well as run you out of options that might currently be available. Don’t kid yourself that you can sell your way out of it. How much gross profit would you have to generate to turn it into net profit and enough cash flow to cover the current deficiency?

    Unfortunately, it gets worse. Dealers are sharp people. They didn’t get to their place in the business world because they are dolts. The problem is, there are many who have risen to a certain stature, and once they’re there, they don’t want to do something to cause them to be perceived as weak or as a failure. This fear causes them to ignore or forestall necessary actions that are not only prudent, but also vital for the viability of the operation.

    Often these decisions involve people. Sometimes they are long-term employees or even family members – siblings and/or in-laws—certainly not bad people, just non-productive. In good times, strong profits and cash flow can hide the warts and the flaws that have always been there. That is not the case in 2008 where the fluff is stripped away. Six different troubled dealers immediately come to my mind who all have very highly paid, non-revenue producing, non-beneficial (even detrimental) employees on board who seriously erode profitability and liquidity. I have discussed the situation with each of them. They just can’t make themselves deal with it, out of either fear or pride—sometimes both. It really won’t matter, because their indecision will be lethal when the last of the cash is gone.

    The retail auto business has never been easy. It requires one to invest a significant amount of capital, have strong business skills in a number of diverse profit centers, and be able to surround oneself with skilled and productive people. Don’t be afraid to make the tough decisions today to ensure that you will not only survive the next 18 months, but thrive. It is not the time to be timid.
    Until next month,
    Be strong!

    Vol 5, Issue 8