What do you think makes your dealership more money on financing options for your customers - low monthly payments or less-costly payoffs? The answer likely varies based on buyer's specific needs (or at least it should), but research now shows one is likely better than the other when it comes to making more money.
Earlier this year, we predicted used auto sales would continue to climb as they have for the past decade and 2019 has, so far, proven this to be true.
It's no secret that the internet has changed how consumers research, shop for, and buy products. Our industry is no exception, as shoppers are more informed than ever before about the vehicles they want to purchase.
Used vehicle sales are on the rise due to climbing interest rates and prices. The price gap between new vehicles and comparable 3-year old models has widened to an average of $14,000 (up from $11,000 in 2013.
Car dealerships are constantly looking for innovative ways to put their name out in the marketplace. One dealership has developed an interesting strategy benefiting from the popularity of transportation networking company, Uber.
Dealers are already aware of the importance of advertising on Facebook and Instagram and for a good reason: your shoppers spend a lot of time on there. But what other apps do your prospects use?
Negotiation time and the time to complete purchase remains the number one complaint of car shoppers.
According to a recent study that polled recent car buyers, the amount of time it takes to complete a car purchase continues to grind customers' gears.
Black Friday. Typically regarded as the first day of the Christmas shopping season, stores offer special prices and deals that result in a mad dash of frenzied shoppers the day after Thanksgiving. Some people dread the crowds and traffic, but almost a third of Americans in 2017 braved the mob to shop for Christmas gifts for loved ones or find sweet deals.
When I talk to car dealers about their digital marketing strategy, a lot of times I hear something along the lines of, “We’ve gotten along just fine doing radio spots, TV ads and direct mail, why do we need digital marketing now?”
They do make a good point. What they’ve been doing was good enough in the past, so it should still be enough… right?