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J U N E 2 0 18
SALES MATTERS | BY KENNY ATCHESON
CONSISTENTLY SELL 100 CARS PER MONTH The Secrets of One Salesperson
The World’s Best Car Salesman Broke a 44-year Old Record…
That was the headline of a Fox News article about Ali Reda, a salesperson who sold 1,582 cars during 2017. The article led me to contact Ali for an interview to share his insight. There is too much content to include in its entirety here so we’ve made the entire audio interview available at DealerProfitPros.com/ interview. Before you begin to read the article or put it down, I encourage you to resist the urge to say that Ali’s experience doesn’t apply to you or your team. Ali is in new car sales and you are not. You are in a smaller city, or other reasons. These are all barriers people create that keep them from reaching their goals. Instead, while you read this
article say to yourself, “How can I make that work for me?” Kenny Atcheson: Ali, I liked that the article about you was positive. I like to see that. The sales profession has taken a beating over the years, and some people are hesitant to say they’re a salesperson – they’re not necessarily proud of it, because of negative perceptions. There really are a lot of those. You don’t have that, I don’t have that, but a lot of people do in general. Why do you think that perception exists? Ali Reda: Yeah, I don’t know where that started. Way back when, being a car salesman was a great thing. It was something people were proud of. Somewhere along the line we got this negative stereotype where you’re kind of embarrassed to tell somebody you’re a car salesman. I’m not like that. I don’t feel
that. As salespeople we have to do our part so that people don’t feel that. I’d like to say we’re more advisors than salespeople. People know what they’re looking for when they come in. They have social media at their fingertips. I think one person at a time, one salesperson at a time, has got to change that stereotype. I really don’t know where that started. I don’t know if it’s somewhere in the 80s or when it happened, but it’s changing. Times are changing. People don’t view us like that anymore. We are definitely building relationships with people now. It’s not just a onetime sale and done – I think that’s where it happened. Salespeople were looking at consumers as, “I’m going to get you now and I may never see you again,” so they took advantage of a situation. I feel the shift. I don’t think that’s the case anymore. Kenny: You said “advisors.” In one of my training programs, I say, “Don’t even call yourself salespeople, call yourselves advisors: vehicle advisor, coach, vehicle coach, something other than salesperson.” My reasoning is to avoid the negative stereotype. It sounds like that isn’t necessarily what you’re doing because you actually believe you’re advising – you’re helping them. Is that the case? Is that the mentality you bring to the table? Ali: 100 percent. That’s exactly right. We can’t assume that people understand the process of a vehicle sale. We can’t assume they know the process of finance. We can’t assume they know the entire process, so it is our job to advise them in a direction that is beneficial to them, not to me. Sometimes I tell people, “Hey this is not the right vehicle for you. This is not the right time for you. This is not the right situation.” As salespeople, to be an advisor, you must have good intentions. You have to have compassion for people. You have to understand where
they’re coming from, where they’re going. This means asking a lot of questions at the beginning – finding out all the details and then advising them on what to do and where to go with it. That’s what people are looking for. Because we do it every day, we assume the person sitting in front of us understands the vehiclebuying process or understands financing or understands what will happen in two or three years if they try to trade in a vehicle or buy one if they’re not in the right situation. We can’t assume they know.
More Details and Commentary from the Interview
I continued to ask Ali penetrating questions to get the most out of the interview for our readers and for those who download the audio. Ali talked about what to do and not do on social media. Use it, but don’t waste your time. Ali is passionate about relationships. There is a lot to this. A salesperson who is only biding his time until his “other career” takes off may not be passionate about creating relationships. There are a lot of ways to create and maintain relationships, including email newsletters, print newsletters, anniversary and birthday phone calls, thank you cards, special random gifts, and customer events. Not one of these will do the job by itself. Dealer principals should also participate in maintaining relationships in case the salesperson does not. Ali offered a lot of value, including a great story about a woman he helped years ago. To this day, that customer continues to send family and friends to Ali. It was challenging to decide what to include from the interview, so I picked a section at the beginning. During our conversation, Ali offered more nitty-gritty details that can make a difference for any salesperson or dealer principal who listens to it. Ali’s book How to Sell 100 Cars in a Month is a short read that is well worth your time.
Kenny Atcheson is the founder of Dealer Profit Pros and author of Marketing Battleground: How to Deploy Under-the-Radar Strategies to Explode Your Profits. For more information visit www. DealerProfitPros.com.
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INSIDE 05.............................................New and Renewing Members 06............................................................... BHPH Benchmarks 08.............................................................................CarLawyer 09.............................................. The End of the 1-Star Review 12................................................................... Golf Tournament 14............................................................Don’t Step on a Rake
WHAT’S NEW
Big and Rich Concert NIADA is pleased to announce the popular Cigars and Martinis welcome reception on the opening night of the first-ever NIADA/NABD Mega-Conference will be followed by a special concert on the terrace featuring none other than country duo Big and Rich. The concert is presented by TradeRev. Learn more about the concert, and the largest and most comprehensive education agenda in the used car industry, at www. NIADAconvention.com.
ADVERTISERS INDEX
ADESA.................................................................................IBC AmTrust Financial.................................................................IFC Great Mishawaka Auto Auction.............................................5 Dyer Auto Auction...................................................................7 Kesler Schaefer AA.................................................................9 Manheim................................................................................11 NextGear Capital...................................................................10 VAuto......................................................................Back Cover
OFFICE
For information on how to become a member of IIADA, please call 219.661.0287 128 S. East Street # 1393 Crown Point, IN 46308 iiada@comcast.net • www.iiada.com
NIADA HEADQUARTERS
President
Andy Zay Zay Leasing & Rentals, Inc. 4957 N. Broadway Huntington, IN 46750 Phone: 260.356.1588 azay@sbcglobal.net
Tricia Trent Trent Auto Sales 1327 N 6th St. Vincennes, IN 47591 812.882.3772 Fax: 812.882.1986 ttrent01@yahoo.com
Chairman of the Board Legislative Chairman
Jennifer Cotton Dyer Auto Auction 219.865.2361 Fax: 219.322.1761 bcotton@dyerauction.com
Fritz Kreutzinger Fritz Associates P.O. Box 168 Fishers, IN 46038 317.842.2228 Fax: 317.842.7900 fritzauto@aol.com
NATIONAL INDEPENDENT AUTOMOBILE DEALERS ASSOCIATION WWW.NIADA.COM • WWW.NIADA.TV 2521 BROWN BLVD. • ARLINGTON, TX 76006-5203 PHONE (817) 640-3838 For advertising information contact: Troy Graff (800) 682-3837 or troy@niada.com. Car Lines is published 10 times per year by the National Independent Automobile Dealers Association Services Corporation, 2521 Brown Blvd., Arlington, TX 76006-5203. Periodicals postage paid at Dallas, TX and at additional offices. POSTMASTER: Send address changes to NIADA State Publications, 2521 Brown Blvd., Arlington, TX 76006-5203. The statements and opinions expressed herein are those of the authors and do not necessarily represent the views of Car Lines or NIADA. Likewise, the appearance of advertisers, or their identification as members of NIADA , does not constitute an endorsement of the products or services featured. Copyright © 2018 by NIADA Services, Inc.
Vice President
STATE MAGAZINE MGR./SALES
Secretary
Troy Graff • troy@niada.com EDITORS
Jacinda Timmerman • jacinda@niada.com Andy Friedlander • andy@niada.com MAGAZINE LAYOUT
Christopher Hanley • chris@niada.com PRINTING
Nieman Printing
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BOARD MEMBERS
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Ed White White’s Auto Sales 1105 McKinley Ave. Rensselaer, IN 47978 219.866.7553 Fax: 219.866.7256 edwhite123@att.net
Tony Del Real Del Real Automotive Group 1002 Walnut Avenue Frankfort, IN 46041 Phone: 765.446.9204 tdelreal@delrealauto.com
John Stumpf Greater Kalamazoo Auto Auction P. O. Box 697 Schoolcraft, MI 49087 269.679.5021 jstumpf@kalamazooaa.com
Treasurer
Tony Houk Kesler-Schaefer Auto Auction, Inc. 5333 W. 46th Street Indianapolis, IN 46253 317.297.2300 Fax: 317.297.6236 skesler@ksaa1.com
Bruce Norton Drive1 USA, Inc. 1512 W. 96th Avenue Suite C Crown Point, IN 46307 Phone: 219.670.0542 Bnorton@drive1usa.com Sharon Brennan Fritz in Fishers 8599 E. 116th Street Fishers, IN 46038 Phone: 317.842.2228 sharonb@fritzinfishers.com
Tyler Trent Trent Auto Sales 1327 N 6th St. Vincennes, IN 47591 812.882.3772 Fax: 812.882.1986 ttrent01@yahoo.com Travis Baldwin Best Deal Auto Sales 2526 Scotswolde Drive Fort Wayne, IN 46808 Phone: 260.483.7999 travisbaldwin@ bestdealautosalesonline.com
June 2018
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Taryn Sanchez White’s Auto Sales LLC 1105 N. McKinley Avenue Rensselaer, IN 47978 Phone: 219.866.7553 twhite1517@att.net David D. Baldwin II Best Deal Auto Sales, Inc. 1875 SR 8 Auburn, IN 46706 260.357.0099 Fax: 260.357.0090 dbthesecond@yahoo.com Debbie Andersen Executive Director 128 S. East Street # 1393 Crown Point, IN 46308 219.661.0287 iiada@comcast.net
ASSOCIATION NEWS
NEW AND RENEWING MEMBERS THANK YOU
IIADA recognizes the following members who have joined* or renewed their membership. Thank you for your membership in Indiana’s trade association for independent dealers.
Advance Auto Sales* Kevin Garrigus Indianapolis Neuhoff Auto Sales* Steve Neuhoff Evansville Xtreme Auto Sales* Alton Berry Auburn Bailey Brothers Used Cars Marvin Bailey Shoals
Best Deal! Auto Sales-The Truck Store Dave Baldwin Fort Wayne Best Deal! Auto Sales Travis Baldwin Fort Wayne Best Deal! Auto Sales-The Import Store David Baldwin Fort Wayne Best Deal! Auto Sales Dave Baldwin Fort Wayne
Best Deal! Auto Sales David Baldwin Fort Wayne Drive 1 USA Bruce Norton Crown Point Motorama Bill McLaughlin Mooresville Gray Auto Brokers Brad Gray Greenfield Deal Real Auto Sales Eddy Del Real Lafayette
American Imports Jeff Cork Speedway
McHugh Motors Tim McHugh Indianapolis
Manheim Louisville Auto Auction Chuck Werner Clarksville
SweetCars Chuck Surack Fort Wayne
Hillside Motors Dushan Galic Schererville Patriot Sales Howard Curry Liberty
Slone Automotive Enterprise Donald H. Slone Clarksville Ultimate Auto Deals Luis Hernandez Fort Wayne
Mint Auto Sales Sam Kamdar Fort Wayne (Broadway) Mint Auto Sales Sam Kamdar Fort Wayne (Brooklyn) Mint Auto Sales Sam Kamdar Fort Wayne (Brooklyn-2)
ASSOCIATION NEWS |
QUALITY DEALER NOMINATIONS
Application Deadline July 1 Applications are now being accepted for Indiana’s 2018 Quality Dealer of the Year. The application deadline is July 1, 2018. The winner will represent Indiana at the 2019 NIADA Convention and compete for the coveted NIADA Quality Dealer of the Year award. The public recognition and prestige associated with this award will produce many benefits for your dealership. Our 2018 Indiana Quality Dealer of the Year will be named and recognized at our Annual Golf Tournament and Awards Day on August 26. Eligibility: Dealers must be nominated by an IIADA member or sponsor. To request an application, email iiada@comcast.net or call 219.661.0287.
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MARKET WATCH | BY KENNETH SHILSON
WITH 2017 IN THE REARVIEW MIRROR, WHAT’S AHEAD? Insights from 2017 BHPH Benchmarks I recently completed the BHPH benchmarks for the 20th consecutive year. My sincere thanks to NIADA and its 20 Groups, SGC CPAs, NCM 20 Groups and Subprime Analytics for the portfolio performance information they contributed. Collectively their data and the narrative make this a very informative report. In the aggregate, these statistics provide a comprehensive look at the 2017 financial and operating performance of the BHPH industry, together with important trend information. It is a reference tool for operators, capital providers and others who are interested in the subprime auto finance marketplace. Here is an overview of the 2017 results and metrics: • The deep subprime market remained highly competitive in 2017 but some of that competition declined during the second half of the year and the first quarter of 2018. • Independent operators who did not match the auto bond securitization model involving newer, more costly vehicles, longer loan terms, and higher financing amounts fared better. • Increasing sales prices and amounts financed over longer repayment terms did not appear to work successfully for those who tried it.
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• Overall profitability improved in 2017 for operators who were proactive using social media and advance tax refunds, and who implemented technology to reduce their overhead costs and increase their efficiencies. • Rising interest rates and tighter capital availability forced operators to be more cash-efficient. That trend will continue in 2018 and beyond. Subprime customers are facing higher interest rates and gas prices. • The best performing business models were both profitable and cashefficient. • Bad debt losses and default rates increased as competition has diluted the overall quality of subprime customers during the past 36 months. • A new credit loss measurement standard will require operators to
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increase their allowance for credit losses and reduce their equity in their future financial statements. Prudent operators should prepare now for this change before they are required to report it in their financial statements. • Although vehicle acquisition prices stabilized during 2017, good subprime inventory remains in short supply, challenging to find and expensive. • Salvage values for repossessed vehicles that could not be retailed stabilized in 2017, but remain more than 50 percent lower than their values a few years ago. • Texting has replaced emails as the best way to connect with and collect from subprime customers. They all depend on their smartphones. At the NIADA/NABD Convention and Expo in Orlando, Fla., June 18- 21, I will take a deeper dive into these
benchmarks and discuss more about what worked and what didn’t, what’s ahead and what we have learned during the past 36 months. I will also discuss which business models are the most successful today. Copies of the benchmark report will be available at the conference and in the June issue of BHPH Dealer, a supplement of Used Car Dealer magazine. The retail side of the subprime used vehicle business is declining while BHPH offers some great new profit opportunities for those with the capital and right infrastructure. If you want to make 2018 better, come to Orlando and learn how to Rewrite your Playbook and become more successful in the subprime auto finance business. Good luck and see you in Orlando! Kenneth Shilson, CPA, (ken@kenshilson.com) is president of Subprime Analytics. Subprime Analytics uses data mining to perform computerized portfolio analysis for operators and capital providers. For further information call 832-767-4759.
MARKET WATCH
| BY AUTO REMARKETING STAFF
GROWING INFLUENCE OF SOCIAL MEDIA REVIEWS
Recent Study Results
Whether it is sorting out the specific type of vehicle to purchase or deciding on what dealership to visit, a new study confirms social media reviews are a growing source of reference for consumers across the country. The recently released MaritzCX study titled, “The Impact of Social Among Car Buyers,” highlights the growing influence of social media reviews. Among respondents who read reviews, the study found 80 percent consider both positive and negative reviews when deciding on what dealership to visit. And roughly half of the same group find the reviews they read somewhat or very trustworthy. Furthermore, compared to 56 percent of all survey participants, 63 percent of
respondents under the age of 35 said they trust social media reviews the most. “Social media reviews are gaining traction and power in making or breaking purchase decisions for products or entire brands,” MaritzCX automotive vice president Tim Englehart said. “Accessing and understanding the pulse of customer experience is the game changer to engage with customers, discover insights and deliver on expectations.” At 32 percent, Google is where auto dealership reviews are sought most often, followed by Edmunds at 12 percent and both Facebook and DealerRater at 11 percent. Moreover, 38 percent of respondents told MaritzCX social media reviews have influenced their decision on which dealership to visit. When it comes to vehicle reviews, in particular, the top-ranked social sites are Edmunds (31 percent) and Google (21 percent), followed by both Facebook and DealerRater (4 percent). Additionally, the study found that while 56 percent of people report reading reviews only 53 percent have written a review on a
social channel. “Dealers and auto brands that ask for reviews and make it easy to leave reviews are the ones that are going to leave the competition in their dust,” Englehart explained. A sizable 40 percent of respondents said they would be inclined to write a review if prompted, according to the study. MaritzCX said it surveyed over 13,300 consumers across the country who purchased a vehicle between 2015 and 2017.
REGULATORY NEWS | BY SUBPRIME AUTO FINANCE NEWS STAFF
CFPB ACTING DIRECTOR REQUESTS CHANGES Changes Involve Bureau Operations
The acting director of the Consumer Financial Protection Bureau has requested “Congress make four changes to the law to establish meaningful accountability for the bureau.” Mick Mulvaney made the declaration as the CFPB released its semi-annual report highlighting the bureau’s work. This is the first report issued by Mulvaney, and it includes his four recommendations for statutory changes to the bureau. “The bureau is far too powerful, with precious little oversight of its activities,” Mulvaney said. “The power wielded by the director of the bureau could all too easily be used to harm consumers, destroy businesses or arbitrarily remake American financial markets.” In the report’s introduction letter, Mulvaney recommended four changes to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The first recommendation is to fund the bureau through Congressional appropriations. The second is to require legislative approval of major rules. His third recommendation is to ensure the director answers to the president in the exercise of executive authority. The fourth is to create an independent inspector general for the bureau. “I have no doubt that many members of Congress disagree with my actions as the acting director of the bureau, just as many members disagreed with the actions of my predecessor,” Mulvaney said. “Such continued frustration with the bureau’s lack of accountability to any representative branch of government should be a warning sign that a lapse in democratic structure and republican principles has occurred. “This cycle will repeat ad infinitum unless Congress acts to make it accountable to the American people.” www.iiada.com
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LEGAL UPDATE | BY THOMAS B. HUDSON AND NICOLE FRUSH MUNRO
THE CARLAWYER Keeping You Informed with the Latest Governmental Issues and Activity in the Used Car Industry Here’s our monthly article on legal developments in the auto sales, finance and lease world. This month, we’re reporting on activities of the Consumer Financial Protection Bureau, the Federal Trade Commission and the courts. As usual, this month’s article features our case of the month. Buy Here-Pay Here dealers and finance companies should pay particular attention to all of this month’s activity involving debt collection. Note this column does not offer legal advice. Always check with your lawyer to learn how what we report might apply to you, or if you have questions.
This Month’s CARLAWYER Compliance Tip
If you collect payments from your auto finance customers, it is time to review and refresh all your policies, forms and procedures relating to that activity. It is clear from recent developments the CFPB and state attorneys general have debt collection abuses targeted, so you should be prepared to demonstrate your compliance efforts are what they should be. Get your counsel involved in the effort – the law has been fluid in this area recently and you’ll need some professional help.
FEDERAL DEVELOPMENTS
It’s your turn: On February 28, during a state attorneys general conference, CFPB acting director Mick Mulvaney encouraged state AGs to take the lead in enforcement as the CFPB takes a closer look at its own enforcement role. The statements followed an internal memo Mulvaney circulated stating the CFPB would no longer be “pushing the envelope” and would try to refrain from “regulation by enforcement.” Emphasizing that memo’s themes, Mulvaney also said the CFPB would prioritize enforcement where complaint volumes are highest (currently, that area is debt collection) and would focus more resources on consumer education. State AGs, such as those in Massachusetts, Pennsylvania, Virginia, New York, and Illinois,
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have already been ramping up their own enforcement efforts in consumer financial protection matters. We expect the number of state civil investigative demands and enforcement actions to continue to increase. Complain, complain, complain: On March 1, the FTC released its 2017 Consumer Sentinel Network Data Book. The data book includes complaints from 2.68 million consumers, a decrease from 2016. Debt collection remained the top consumer complaint category, and complaints about identity theft and imposter scams were the second and third most common types of consumer complaints. Report card time: On March 20, the CFPB issued its annual report to Congress on the Fair Debt Collection Practices Act. The report detailed the CFPB’s and FTC’s enforcement activities, education activities, and policy initiatives conducted in 2017 related to unlawful debt collection. The agencies share enforcement responsibilities under the FDCPA and in 2012 entered into a memorandum of understanding providing for coordination of enforcement, sharing of supervisory information and consumer complaints, and collaboration on consumer education. Collection violations draw stiff penalties: On March 22, the FTC and the New York attorney general’s office announced a settlement order banning the operators of a deceptive and abusive debt collection scheme from the debt collection business and from buying or selling debt. The agencies alleged the defendants used threats and abusive language, including false threats that consumers would be arrested or sued, to collect supposed debts. The court halted the operation pending resolution of the case. The orders also prohibit the defendants
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from misrepresenting financial products and services and from profiting from customers’ personal information collected as part of the challenged practices. The orders against Travell Thomas, 4 Star Resolution LLC, Profile Management Inc., International Recovery Service LLC, Check Solutions Services Inc., Check Fraud Service LLC and Fourstar Revenue Management LLC and against Maurice Sessum impose a $30 million judgment. The order against Charles Blakely III and Merchant Recovery Service, Inc. imposes an $18,789,000 judgment. Both judgments will be partly suspended upon the surrender of certain assets. Assets to be surrendered in these settlements include more than $1 million in corporate and individual assets frozen by the court. The full judgments will become due immediately if the defendants are found to have misrepresented their financial conditions. The action resulted in 14 guilty pleas from individuals involved in the scheme, including Travell Thomas and Maurice Sessum, each sentenced to more than seven years in prison. This just in: On Friday, March 23, Sen. Jerry Moran (R-KS) and 15 Republican co-sponsors introduced a joint resolution pursuant to the Congressional Review Act that would invalidate the CFPB’s 2013 auto finance guidance relating to fair lending and disparate impact. The joint resolution, if passed by the Senate and the House and signed by the president, would effectively preclude the CFPB from any rulemaking on this topic without express authorization from Congress at some later date.
CASE OF THE MONTH
Edwin Rojas bought a used car from X Motorsport, Inc. He signed a buyer’s order and a retail installment contract at the time of the sale. The buyer’s order explicitly incorporated the RIC and voided Rojas’s obligation to buy the car if his financing was not approved. Rojas drove the car off the lot the same day. Capital One, a finance company, refused to buy Rojas’s RIC. Rojas eventually returned the car and accepted a return of his down payment from XMI. He then sued XMI for violating the Truth in Lending Act, alleging the financing terms in the RIC were
not disclosed in a “meaningful” way because the terms were conditioned upon finance company approval. Both parties moved for summary judgment. The trial court granted XMI’s motion. The federal appellate court affirmed. The court reasoned TILA was enacted to, among other things, “assure the meaningful disclosure of credit terms.” For disclosures to be “meaningful,” creditors must clearly and accurately state material terms relevant to the transaction, including the annual percentage rate of interest, the finance charge, the amount financed, the total of payments, and the total sale price. The appellate court found the RIC provided these disclosures clearly and accurately to Rojas. The appellate court rejected Rojas’s argument the TILA disclosures should have been labeled as “estimates” because they depended on a condition subsequent, i.e., financing. Relying on one of its prior decisions, the appellate court concluded a condition subsequent, such as securing financing, does not render TILA disclosures inaccurate or mere “estimates.” If the condition occurs, the disclosures provide the “set rate” for that agreement. The appellate court noted its conclusion is supported by language in TILA stating that if information disclosed “is subsequently rendered inaccurate as the result of any act, occurrence, or agreement subsequent to the delivery of the required disclosures, the inaccuracy resulting therefrom does not constitute a violation of … [TILA].” Therefore, the appellate court held the disclosures in the RIC complied with TILA. Rojas v. X Motorsport, Inc., 2018 U.S. App. LEXIS 2857 (7th Cir. (N.D. Ill.) February 6, 2018) So, there’s this month’s roundup! Stay legal, and we’ll see you next month. Tom (thudson@hudco.com) is of counsel and Nikki (nmunro@hudco.com) is a partner in the law firm of Hudson Cook, LLP. Tom has written several books and is the publisher of Spot Delivery, a monthly legal newsletter for auto dealers. He is the CEO of CounselorLibrary.com, LLC and the editor in chief of CARLAW, a monthly report of legal developments for the auto finance and leasing industry. Nikki is a contributing author to the F&I Legal Desk Book and frequently writes for Spot Delivery. For information, visit www.counselorlibrary.com. © CounselorLibrary.com 2018, all rights reserved. Single publication rights only, to the Association. (4/18). HC/4814-8603-6576v1.
ACCELERATE | BY GWC WARRANTY
THE END OF THE 1-STAR REVIEW
Maintaining Your Online Reputation
Online reputation is more important today than ever before. If you take your eye off the ball for even a second, a small number of customers can have a severe impact on your online image. That’s why you need to do whatever it takes to stop 1-star reviews before they pop up online. When it comes to online reputation, sometimes the best offense is a good defense. By putting in place the right steps and procedures, you can simultaneously prevent bad reviews while also potentially turning these negative experiences into positive ones.
YOU CAN’T HELP CUSTOMERS YOU NEVER HEAR FROM
A bad review could catch you by surprise. You sold a car and it was uneventful, but before you know it that customer is leaving a stain on your online reputation. It’s frustrating for you since the customer never voiced their issues to you, but there is something you can do. Give all your customers a chance to come to you first with their complaints or issues. This requires regular follow up on your
part. Whether it’s by phone, email or oldfashioned direct mail, checking in with your customers will help you get a chance to proactively address any issues that come up.
ARTFULLY CRAFT YOUR ASK
If you’re plugged into your online reputation, you’re likely doing something to ask your customers for reviews. Sometimes it’s in person and other times it could be with email or text messages. Whatever you do, having an electronic method for customers to leave negative feedback will help you capture these issues before they turn into online complaints. If you ask electronically, start with a question about whether the customer had a positive experience. If they had a poor experience, direct the customer somewhere he or she can vent to you. If it’s positive, continue them on the way to leaving a positive review.
RESPOND TO THE NEGATIVE
Sometimes, poor reviews will slip through the cracks. When they do, respond quickly
and personally, apologizing for the poor experience and providing a way for the customer to contact you. If you can identify the customer based on the review, you can also reach out directly to the customer. It’s a delicate situation, but try to identify what went wrong for the customer and see if there is anything you can do to resolve the situation. You may even be surprised by a customer revising their negative review into a positive review once you’ve shown how much you care about their experience.
OUTRUN THE BAD REVIEWS
Above all else, the best way to limit the impact of 1-star reviews is to outweigh these stories with the positive ones that tell the true story of your business. It’s no secret that upset customers are more likely to leave a review than happy ones, so it’s incredibly important to ask as many customers as possible for reviews. By building a consistent process for asking for reviews, you’ll land enough positive to improve or maintain your positive online image.
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MANAGEMENT MATTERS | BY DALE POLLAK
MARGIN COMPRESSION TAKES A BITE
How Will You Bite Back?
For many dealers, margin compression in used vehicles has been a bit like a leaky water line.
The truth is the line’s been slowly dripping for years. But no one really noticed it until now – after a ceiling or wall has started to bubble, crack or crumble. Dealers’ awareness of margin compression seems to have taken hold this year, following the realization that despite a fairly strong year of used vehicle sales in 2017, they actually made less money. You can see this picture in end of year financial data from the National Automobile Dealers Association. Their December 2017 financial profile shows two disturbing year-end stats: • Average net profit per used vehicle retailed in 2017: $-2. I can’t remember ever seeing used vehicle net profit as a negative number. But it’s been dropping for the past few years. It was $164 in 2014, $132 in 2015 and $65 in 2016. Can you hear the sound? Drip. Drip. Drip. • Front-end gross profit declined. NADA reported the average retail gross profit dropped $78 to $2,337 last year, down from $2,415 in 2016. The average was $2,444 in 2015. Drip. Drip. Drip. (Note: NADA’s numbers include F&I income, which means the margin decline would be more pronounced, given many dealers’ efforts to increase F&I sales in recent years.) The numbers wouldn’t be so disturbing if they were just a temporary blip. But like the leaky water line, the problem’s more chronic than coincidental. The key question on the minds of dealers in my conversations is now that they’ve recognized the problem, what steps can and should they take to fix it? I’ll answer the question with some bad news. Unfortunately, there isn’t really a “fix” for margin compression. It’s now the nature of our ever-more competitive, efficient and transparent used vehicle marketplace. But there are ways to mitigate the problem and stop leaks that often erode used vehicle profitability. Here are four recommendations.
MEASURE/MANAGE EFFICIENCY OF ACQUISITIONS
At many dealerships, there are at least a handful of individuals, if not more, who have the authority to appraise vehicles. From my observations, there’s a fairly wide degree of variance among the appraisers when you judge their decisions based on their cost to market ratios. Cost to market measures your cost to acquire the vehicle against the prevailing retail asking prices for the unit, a calculation that yields your potential
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profit margin spread. If you acquire a vehicle for $8,500 and the retail asking price is $10,000, the cost to market is 85 percent. There’s margin to be gained by managing and measuring the consistency of your appraisals, as weighed against your cost to market targets. I recognize there are real-life pressures to allow a little more for trade-ins. But I would submit those pressures will fade as you use the current market to establish the fair value of your acquisitions.
TRIM RECONDITIONING COSTS I’ll put aside the question of how much you can rightfully charge for labor and parts for your internal reconditioning work. But when was the last time someone asked your third-party vendors for a little haircut, perhaps a 5 percent to 10 percent reduction? Chances are those invoices get paid without too much question – an area of oversight that offers some margin opportunity. It’s worth remembering part of the NADA-reported net loss on used vehicles amounts to someone else’s gain.
MINIMIZE DISCOUNTING
Just as some appraisers seem to acquire more cars for the right money than others, some sales associates are better at avoiding discounts than others. When you price your used vehicles to the market, there’s simply less room for negotiation, and your average showroom/ other discount should reflect this reality. The key, of course, is to manage and measure your discounts. Everyone who puts their initials on a deal should be held accountable for the discounts they approve – and be properly trained to know how to maintain your margin.
REDUCE INVENTORY AGE
In today’s margin-compressed market, retail speed is the only way to take advantage of the age-old truth that fresh cars deliver the best gross. Dealers who sell a larger share of fresh vehicles would maximize each unit’s gross profit potential. It’s really a black and white proposition. No doubt, that’s why topperforming dealers maintain at least 55 percent of their inventories under 30 days. Their gross profits tend to look better than dealers who carry a larger share of older vehicles. As I mentioned, these recommendations won’t completely eliminate margin compression. But they can help slow its harmful effects and help you avoid profitability leaks that make the problem even worse. Dale Pollak is the founder of vAuto and an executive with Cox Automotive. This column originally ran on his blog. For this story and all his posts, visit www.dalepollak.com.
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2018 ANNUAL GOLF TOURNAMENT AUGUST AWARDS DAY AND TRADE SHOW 26, 2018 Eagle Creek Golf Club • Pete Dye Championship Golf • Indianapolis, IN
IIADA ANNUAL GOLF TOURNAMENT TRADE SHOW & AWARDS DAY Breakfast & Registration - 9:00 am Shotgun Start -10:00 am After Golf Dinner
Eagle Creek Golf Club
8802 W. 56th Street, Indianapolis, IN 317.297.3366 Directions to Eagle Creek From 465: Take Exit 19. West on 56th Street to first stoplight west of Eagle Creek Reservoir. From I-65: Exit at Lafayette Road. South to 56th Street. West on 56th Street to first stoplight west of Eagle Creek Reservoir.
Registration and Information: Phone: 219.661.0287 Email: iiada@comcast.net
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www.iiada.com
OUR 2018 “JOE KRIER QUALITY DEALER AWARD” WINNER WILL BE ANNOUNCED.
2017 QUALITY DEALER OF THE YEAR: GROTE AUTOMOTIVE
SPONSORSHIP OPPORTUNITIES PLATINUM - $3,000
Includes registration for foursome, sponsorship of dinner.
DIAMOND - $2,000
Includes registration for foursome, sponsorship of breakfast.
Registration Form Name______________________________________________ Spouse/Guest Name____________________________________ Company Name_______________________________________ Address_____________________________________________ City________________________________________________ State____________ Zip_______________ _________________ Phone______________________Fax______________________
GOLF OUTING ENTRY FORM Participants Names: 1. _________________________________________________ Company ___________________________________________ 2._________________________________________________
GOLD - $1,500
Includes registration for twosome, sponsorship of beverage cart.
SILVER - $700
Sponsorship of Closest to the Pin, Longest Putt or Longest Drive
BRONZE - $400
Sponsorship of Golf Hole
Company____________________________________________ 3 ._________________________________________________ Company____________________________________________ 4 ._________________________________________________ Company____________________________________________
REGISTRATION AND SPONSORSHIP*
TOTALS
Breakfast, Golf, & Dinner - $120/Person
______
Platinum Sponsorship - $3,000
______
Diamond Sponsorship - $2,000
______
Gold Sponsorship - $1,500
______
Silver Sponsorship - $700
______
Bronze Sponsorship - $400
______
Total Enclosed
______
___Money Order/Check Enclosed
ALL SPONSORS MAY PARTICIPATE IN TRADE SHOW AND WILL BE RECOGNIZED IN CAR LINES.
email registration: iiada@comcast.net Fax Registration CREDIT CARD ONLY: 219.663.5294 ___Visa ___MasterCard Card No.______________________ Expiration Date___________ Security code________ Name on Card (please print) _______________________________ Card Holder’s Signature __________________________________
ALL GOLFERS MUST HAVE ENTRY FEES PAID BY AUGUST 15.
Phone: 219.661.0287 Email: iiada@comcast.net
Please send entry fee to:
Indiana Independent Auto Dealers Association P.O. Box 1393 Crown Point, IN 46308 www.iiada.com
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SOCIAL MEDIA | BY KATHI KRUSE
DON’T STEP ON A RAKE Avoid Social Media Pitfalls
For many dealers, social media seems like a minefield. Add the fact it's quickly matured into a very viable place to engage customers and promote sales and you've got a terrifying place many dealers would rather ignore.
Ignoring social media in today’s world is the equivalent of opening a store without telling anyone. But all the warnings in the world are not going to motivate a dealer to take action if they still have a lot of fear. I'd like to alleviate some of that fear today. Avoiding social media pitfalls has become a big business. It's difficult to know where to turn for the best advice. For nearly 10 years now, I've been singing the “social media song” and, alas, the needle hasn't moved much, especially for auto retail. You know what? That's okay. It's perfectly fine to venture out into social media at your own pace. What I don't want you to do is venture out and step on a rake.
5 FOUNDATION ESSENTIALS FOR SOCIAL MEDIA SUCCESS
Whether you're new to social media or you've been using it for some time, these five components will help you leverage all you can from each platform.
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Secure Your Reputation with a Social Media Policy
At Kruse Control, we advocate implementing an upto-date policy for employee use of social media. The line between dealers and their employees on social media is steadily blurring. Organizations today need a social media policy that helps keep the store’s reputation intact while also encouraging employee participation online. A social media policy outlines how an organization and its employees should conduct themselves online. This document helps safeguard your brand’s reputation. Ideally, you'll want to consult with the following stakeholders when creating a social media policy for your store: • C-level (owners and managers). • Human Resources. • Corporate counsel. •S ocial media strategist. Because social media moves fast, this policy should be considered a living document – ongoing updates will be necessary.
Written Social Media Strategy
Social media strategy defines how a dealership will use social media to achieve its business goals, including the supporting platforms and tools it will use to do so. At a basic level, it’s a statement of intent, outlining the goals and measurable objectives for using social media, and the target outcomes you want to achieve.
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When defining what it takes to achieve social media success, we need to talk about strategy first. I was inspired to include this component because I receive questions like these from good people, many of whom are struggling to find answers: • “Do I have to be on every social network?” • “What type of things do I say on social media?” • “ How often should I post?” • “How do I get more followers?” • “ My boss asked me to take over the Facebook page, but where do I start?” • “ Should I pay for social advertising?” • “I'm in a boring industry. Do I still need social media?” • “ Do I need social media management tools?” • “Should I outsource my social media?” I've had a run of these emails lately and, frankly, my heart aches for these good people because they're lost. It's easy to get lost these days because the social media landscape is no longer a field of flowers sparsely populated. Today, social media is a dense, crowded, noisy, smoggy urban jungle.
Do a Social Media Audit
Whether your social media marketing is in-house or outsourced, it’s often difficult to see where the gaps are between your current successes and where you need to be. Your inbox is full of tips, tools and hacks to “improve” results and it’s exhausting. The best way to remove the guesswork is with a social media audit. A social media audit is a smart step because time and resources are often wasted trying to improve things that don’t need improving, while neglecting the things that really need attention.
Build an Online Review Funnel
Word of mouth referrals have always been a go-to resource for finding trusted sellers, and online ratings sites are where most people turn today.
Online reviews are insanely influential: • 90 percent of consumers read online reviews. •8 8 percent trust online reviews as much as personal recommendations. • 86 percent will hesitate to purchase from a business that has negative reviews. • Customers are likely to spend 31 percent more with a business that has positive reviews. • 92 percent will use a local business if it has at least a 4-star rating. Benefits of building an online review funnel: 1. S ystematically drive customers to one conversion funnel that routes them to the review sites you care about. 2. Automatically ask, remind and guide happy customers through the funnel. 3. R ecover unhappy customers before they vent online. 4. A nalyze results daily for actionable insights to improve upon.
Engage with Social Customer Service
People increasingly turn to social media to engage with businesses. Social has matured as a communication channel and people have blended it into their lives. They expect dealers to do the same. While many companies now use social media regularly, very few take social customer service seriously. Currently, 92.5 percent of brands fail to meet customer expectations on social media and these failures can have big implications. Quality customer service – regardless of channel – relies on a meaningful, efficient, solution-focused exchange between dealers and their customers. The growing preference for social media as a communication channel requires your organization to re-think its customer service strategy. Good social customer service strategy keeps your store in the conversation and doesn't allow malcontents and competitors to speak for you. Kathi Kruse is an automotive social media marketing expert, blogger, consultant, author, speaker and founder of Kruse Control Inc., which coaches, trains and delivers webinars focused on integrating social media and online reputation management into dealership operations. She can be reached at kathi@krusecontrolinc.com.
WASHINGTON UPDATE | BY SHAUN PETERSEN
Latest Government Issues and Activity NIADA is your voice in Washington D.C., advocating for independent dealers, the used vehicle industry and small business. Here’s a look at the latest news and NIADA efforts regarding legislative, regulatory, PAC and grass roots activities. LEGISLATIVE The U.S. House of Representatives voted to repeal the Bureau of Consumer Financial Protection’s controversial 2013 guidance on indirect auto lending, paving the way for dealers to again set loan terms and rates for third-party financing without being subject to CFPB enforcement. The House approved S.J. Res. 57, which would overturn the much-criticized guidance document under the authority of the Congressional Review Act, on May 8 by a bipartisan 234-175 majority. The Senate had already passed the joint resolution by a 51-47 margin April 18. “The CFPB’s 2013 indirect auto lending guidance was a harmful, ill-advised solution that purported to solve the problem of a disparate impact theory that only existed in some mythical CFPB fairyland,” NIADA CEO Steve Jordan said. “The reality is automobile dealers had a rich history of using indirect lenders to provide financial transactions in the best interests of the driving public
long before the CFPB decided to interfere. “NIADA is thrilled Congress has removed the CFPB from that equation.” The guidance, issued in March 2013, claimed dealer discretion on interest rates creates a “significant risk” of unintentional disparate impact discrimination and spelled out the bureau’s intention to pursue enforcement actions on that basis. Critics have pointed out the CFPB’s theory was based on shaky methodology for determining disparate impact and the guidance was put in place without comments from stakeholders, public hearings or studies of its impact on the cost of credit to consumers. The resolution followed a December opinion from the Government Accountability Office that defined the guidance document as a CFPB rule for the purposes of the CRA, which meant it could be struck down by a simple majority vote of both houses of Congress. The White House has issued
a statement in support of the resolution and President Trump is expected to sign it into law. Rep. Murphy to speak at NIADA Convention: Rep. Stephanie Murphy (D-Fla.) will be the featured speaker for the Welcome Luncheon on Tuesday at the 2018 NIADA Convention and Expo, coming up June 18-21 in Orlando, Fla. Murphy, who in 2016 became the first Vietnamese-American woman elected to Congress, represents Florida’s 7th District, which includes downtown Orlando. In only her first term, she has already built a strong record of supporting small business. The former businesswoman serves on the House Small Business Committee – she is the ranking Democrat of the Subcommittee on Contracting and Workforce – and has been the lead Democratic co-sponsor on several bipartisan bills aimed at promoting the interests of small businesses. Murphy was one of 11 Democrats who in May voted in favor of repealing the CFPB’s controversial 2013 indirect auto lending guidance. She is also a member of the Blue Dog Coalition, a group of House Democrats who according to their mission statement are “dedicated to pursuing fiscally responsible policies, ensuring a strong national defense for our country and transcending party lines to get things done for the American people.” She is co-chair of that caucus’ Fiscal Responsibility Task Force. Murphy says she is “working to reduce the regulatory burdens on small businesses, increase their access to capital and help strengthen our region’s economy by creating more well-paying jobs.” REGULATORY The Federal Trade Commission sent letters to six companies that market and sell automobiles, cellular devices and video gaming systems warning them about their statements telling consumers they must
use specified parts or service providers to keep from voiding their warranties. The FTC told the companies unless they provide the parts or services for free or receive a waiver from the FTC, those statements could violate the Magnuson-Moss Warranty Act and could be considered a deceptive practice in violation of the FTC Act. The commission asked the companies to review their promotional and warranty materials to make sure they do not state or imply that a warranty applies only if the consumer uses specific parts or services – and to make necessary changes if they do. The FTC said it would review the companies’ websites again after 30 days and proceed with enforcement action if necessary. FTC attorney Courtney Estep will discuss this and other warranty compliance issues in her session “Legal Considerations in Offering Warranties and Service Contracts” at this month’s NIADA Convention and Expo. GRASS ROOTS Independent dealers in Illinois won an important victory in May when legislation that would have placed undue regulatory burdens on the use of GPS and starterinterrupt devices failed to get out of committee in the state Senate. State Sen. Steve Stadelman, who introduced the bill, made several attempts to push it through, but was unsuccessful thanks in large part to a determined effort by NIADA, the Illinois IADA and industry partners to educate the state’s legislators and Gov. Bruce Rauner about the devices and their use in the BHPH industry. Stadelman’s decision to not pursue a vote on the bill is the latest chapter of a threeyear battle over the proposal, which has been backed by state attorney general Lisa Madigan. While Madigan is not seeking re-election this year, NIADA and IIADA will continue to monitor this situation for further developments. Shaun Petersen is NIADA’s senior vice president of legal and government affairs.
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MEMBER BENEFITS PJOIN TODAY For $295 You Get Membership In Both IIADA and NIADA Plus All Of The Following Benefits And Even More That Are Not Listed! Programs for Extra Profit
• Dealer Bond at Member Rates • Dealer Insurance • Health Insurance • Forms • Financing • Software • IIADA Help Desk • National Dealer Network Skip Tracing Contacts • College Scholarships • Prescription Drug Card • National Dealer Network
Publications
• Car Lines Publication • Used Car Dealer Magazine • Federally Required Safeguards Policy Document • Federally Required Red Flags Rules Policy Documents • IRS Audit Technique Guide For the Independent Used Car Dealer • Current Industry Information • Legislative Alerts • NIADA Annual Market Analysis
2018 Member Auction Coupons For A Total Savings Of $3,000! ADE of Indianapolis ADESA Cincinnati/Dayton ADESA Indianapolis ADESA Lansing America’s Auto Auction Toledo America’s Auto Auction West Michigan Clark County Auto Auction Dyer Auto Auction Fort Wayne Truck and Auto Auction Greater Kalamazoo Auto Auction Greater Mishawaka Auto Auction Greater Rockford Auto Auction Indiana Auto Auction, Inc. Indianapolis Car Exchange Kesler-Schaefer Wholesale Auto Auction Manheim Cincinnati Manheim Indianapolis Manheim Louisville Manheim Ohio Mt. Vernon I-64 Auto Auction Wolfe’s Auto Auctions-Evansville/ South Bend/Terre Haute
Professional Development
• Certified Master Dealer Program • Free Access to NIADA.tv Training at Your Business • Access to IndependentDealer.com where dealers go for answers • NIADA Membership and Window Decal • IIADA “Symbol of Integrity” Logo and Window Decal • NIADA Annual Convention and Trade Show • Code of Ethics
AUC T ION C OUP ON B OOK P RIN T ING SP ONSORED B Y: AFC . CVR . ASC . WARRANT Y . 700 CREDIT AMERICAN RECOVERY ASSOCIATION
Representation
• State Lobby and Consultant Services • State Legislative and Regulatory Tracking and Reporting • Federal Lobby and Consulting Services • Federal Legal, Legislative and Regulatory Tracking and Reporting • Indiana Department of Revenue Liaison • Indiana Dealer Services Liaison • Indiana Bureau of Motor Vehicles Liaison
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www.iiada.com
SUPPORT IIADA! We are your voice in Indianapolis.
P
MEMBER P APPLICATION
JOIN TODAY
Indiana Independent Automobile Dealers Association
The IIADA Has the Independent Auto Dealer Covered! Phone: (219) 661-0287 • Fax: (219)663-5294 iiada@comcast.net
P
JOIN TODAY For an annual membership investment of only $295,
which includes an NIADA membership, you get a $3,000 Auto Auction Coupon Book and a whole lot more!
GENERAL INFORMATION Dealership Name ____________________________________ Dealer Lic#_______________ Mail Address ________________________________________________________________ County _____________________________________________________________________ City/State/Zip________________________________________________________________ Phone _____________________________________________Fax ______________________ E-mail_______________________________________________________________________ Website_____________________________________________________________________ Owners (Please Print) _________________________________________________________ Recommended By _____________________________________________________________ oCheck oVisa oMasterCard Credit Card Number: _____________________________________Expiration Date: ________ Signature: _____________________________________________________________________________ Please include your email address, phone and fax numbers so that we can easily communicate with you. Membership dues are $295 for 12 months from the date you join, and your National lADA dues are included. Please send application and check or credit card information to: IIADA, PO Box 1393, Crown Point, IN
46308
This is our personal invitation to you to join the State and National Independent Automobile Dealers Professional Associations It is important to me to be recognized as a professional! Enclosed are my annual dues of $295 to make sure that my business has all the advantages IIADA/NIADA Inc., provides to put me at the forefront of my profession. By completing this form, I agree to abide by the Code of Ethics. Also, I am consenting to and giving IIADA/NIADA Inc., its affiliates and subsidiaries, my permission to (until I give written notice to discontinue) contact me and provide information to me at the mailing and email addresses, telephone and fax number(s) I have provided.
Note: 25% of dues are non-deductible
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ASSOCIATE MEMBERS
IIADA Associate Membership is available to automotive related businesses. Please call 219-661-0287 for more information on Associate Memberships.
700 Credit
Drive1 USA, Inc.
Ann Carson 202.422.2351 acarson@700credit.com www.700credit.com
Advantage One Tire Network Brandon Schlarb 317.809.6781 bschlarb@a1tnindy.com
Bruce Norton 1512 W. 96th Ave., Ste. C Crown Point, IN 46307 Phone: 219.670.0542 Email: Bnorton@drive1usa.com
Driven Brands
Lisa Zaentz 312.515.5664 Lisa.zaentz@drivenbrands.com
AFC
Envirotest Titling & Registration
Ryan Lewis 2950 E. Main St. Plainfield, IN 46168 317-453-1172 ryan.lewis@autofinance.com
Alpha Omega Group Brad LeBlanc 513.317.9861 brad@aogllc.com
Ashton Agency Inc.
Dealer Insurance, Bonds Kathy Alexander 407.678.5900 kalexander@ashtonagency.com
Auto Services Co. Inc. Susan Williams/ Clayton Morgan 800-442-7116
AutoZone
Envirotest Titling & Registration
Preferred Warranties, Inc.
Frazer Computing Inc.
Professional Financial Services
GWC Warranty
P O Box 7900 Wilkes-Barre, PA 18773 317.374.6271 www.gwcwarranty.com
HBK CPAs & Consultant
Rex Collins Chris Walsh 330.758.8613 812.988.8300 rcollins@hbkcpa.com www.consolidated autoservices.com
Insurance ProfessionalsDealer Specialists Mike Lee 8509 Zephyr Dr. Indianapolis, IN 46217 317-432-1092 Fax: 317-300-0501 teamallenc21@comcast.net
Ron Zimmerman 317.522.6256 Fax: 866.231.4996 rzimmerman@cvrreg.com
Dealertrack
Insurance Professionals of New Palestine
Diane Zewalk 115 Pohesanut Dr., Ste. 201 Groton, CT 06340 860-448-3177 Fax: 860-448-3187
Deluxe Corporation
Safeguard Printing Jennifer Blair 800.875.9908 jblair@safeguardprinting.com
Donn H. Wray
Legal Counsel Stoll Keenon Ogden 201 N. Illinois Street, Ste. 1225 Indianapolis, IN 46204 317.608.4369
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Jude Tuma/Michael Roe 1081 Hanover St. Wilkes Barre, PA 18706 800-356-9441 michael.roe@pennwarrantycorp.com www.pennwarrantycorp.com
Jennifer Kharchaf 1171 Breuckman Dr., Ste. B Crown Point, IN 46307 219.661.8220 www.etrindiana.com
John Skelton 423.207.1333 www.freedomwarranty.com
CVR-Computerized Vehicle Registration
NextGear Capital
Penn Warranty Corporation
Kevin Lewis 1111 S. Green River Rd. Suite 100 Evansville, IN 47715 812.909.0116 www.etrindiana.com
Freedom Warranty
Consolidated Automotive Services
Mark Plunkett mplunkitt@nationwideloans.com 317.441.1637
Envirotest Titling & Registration
CAR Financial
175 W. Jackson Blvd., 8th Fl. Chicago, IL 60604 800-298-1460 dealers.cars.com
Nationwide Cassel LLC
Lori Kahre 1320 City Center Drive Suite 100 Carmel, IN 46033 Phone: 317.571.3845 www.nextgearcapital.com
Gerry Sutter gerald.sutter@autozone.com 440.263.3389
Cars.com
Frank Hackett 301.696.0400 naaa@naaa.com
Kevin Lewis 1445 Brookville Way Suite G Indianapolis, IN 46239 317.322.0020 www.etrindiana.com
6196 US Hwy 11, P O Box 569 Canton, NY 13617 888.963.5369 www.frazer.com
P. O. Box 20229 Knoxville, TN 37940 865.573.3355
National Auto Auction Association
Network Benefits of Mid America 35 W. Main St. P.O. Box 467 New Palestine, IN 46163 Office: 317-861-4411 800-688-7988 Cell: 317-750-3032
Integrity Warranty, LLC
Paul Mulready 423.355.8353 pmulready@integritywarranty.com www.integritywarranty.com
Lincolnway Insurance Services Greg St. Germain 336 E. Lincoln Hwy. Schererville, IN 46375 219-865-2227 gregg@lincolnwayinsurance.com
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Gregg Reidenbach/Guy Loeffler 800-548-1121 info@warrantys.com www.warrantys.com
Matt Reece Phone: 864.237.6090 Matt.Reece@pfs-corp.net Nat Rieder Nat.Rieder@pfs-corp.net Phone: 614.935.9808
Pull A Part of Indianapolis LLC Mark Cohen 2505 Producers Lane Indianapolis, IN 46218 Phone: 678.327.5584
Reliable Auto Finance
Lester Dean PO Box 9700 Wyoming, Michigan 49509 616.438.3591 Fax: 616-245-5978 lesterd@reliableautofinance.com
Somerset CPAs
Jane Saxon, CPA 3925 River Crossing Pkwy. Indianapolis, IN 46240 317.472.2183 jsaxon@somersetcpas.com
SPIREON
Dave Boekholder 800.557.1449 dboekholder@spireon.com
Teipen, Selanders, Poynter & Ayres, P.C.
Certified Public Accountants Barnett Sapurstein, CPA 317.598.6700 bsapurstein@teipencpa.com
Turner Acceptance
Jonathon Turner Phone: 773.290.5007 turneracceptance.com