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Legislature Clarifies Credit Insurance Refund Procedure
Beginning next year, lenders must notify credit insurance companies when a refund may be due.
 Anytime an underlying debt, e.g., a car loan, terminates before the originally scheduled termination date of the credit insurance purchased, due to early payoff or refinance, the debtor may be due a refund of any unearned premium on this insurance. In the past, there has been no clearly defined process of notification to the insurer or the insured when either of these situations occurs.
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Coffee Is for Closers
By Patrick York - Vice President of Marketing
How are you managing your traffic?
I wish I had a nickel for every time someone has said to me, “send the up bus this way if you see it.” When sales volume is down, low traffic is always the first excuse. But the fact is, low sales volume doesn’t always come from low traffic count; it’s frequently a result of low closing and delivery ratios. [ more ]
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Finance & Insurance
By Patrick York - Vice President of Marketing
Has your F&I department gotten good at fixing "bad haircuts"?
I once saw a sign in a barber shop window that read, “We fix bad haircuts.” It struck me that F&I managers could have a similar sign on their walls. Every day F&I managers have to salvage deals that are lop-sided, upside-down, incomplete, or just plain butchered. In order to save the deal and gross profit, they have to become good at correcting other people’s mistakes. Here are some of the most common “bad haircuts” F&I personnel face: [ more ]
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