Joel Pate Joshua Carmona

Interesting FactoidsAccording to the NADA

• Advertising is the largest expense at any dealership other than HR

• The Average Pack is $450.00 per unit sold

• The Average PIC is $1000.00 (Used Cars)

• The Average Salesman Closes 10-12 sales per month

• The Average Net Commission is $300.00 per unit

• Finance & Insurance departments are well schooled on how to upsell backend products and services

• 7 out of 10 UP’s at any dealership need credit repair

How Do Engage My Local Dealership?

• Choose Wisely

– New Or Used

– Is There a Large Advertising Presence

– How many sales per month

• Only Speak to the Decision Makers (Stakeholders)

– Dealer Principal

– General Manager

How Do Engage My Local Dealership?

• Explain how you can decrease Consumer Acquisition Costs– “If you sell 5-10 more units per 6-12 months from

now, yet the spend the same amount on advertising; would that interest you?”

– Offer F&I Sales and Compliance Training

– Offer Process workflow integration

• You need to be at the Dealership– You will Close 50-70% of all consumers handed off

– You will Close less 20% If you are not the Dealership

What does the Sales Process look like?

Billing Process

Email / Voice

Continuity

Dealer Ship F&I and Sales person credit repair and

compliance training

The law• Fair Credit Reporting Act (1974)

– Gives the Consumer the right to Dispute all Erroneous, or misleading information

– The Creditor need to verify and respond to the Credit Reporting Agencies

• Fair and Accurate Credit Transactions Act (Amendment 312)– Lets the Consumer dispute directly to the Creditor since as of July 2010

– Creditors must perform dispute investigation according to the FCRA the same way the CRA’s perform there investigations

• The Credit Repair Organizations Act (1996)– 42 Sates require licensing

Some Interesting facts• According to the US PIRG 0ver 72% of Credit Reports Contain Errors

– 0ver 25% of these errors could have or caused a denial of credit

• The Credit Reporting Agencies Make money on the dispute process as well as the credit reporting process (“ they get paid to house the data incorrectly, then get paid to fix it”)

• A consumer has no way of knowing the credit score that the banks see’s, FICO, without causing damage to their credit score

• The consumer see’s a “PLUS or Vantage Score on their credit monitoring service, they never see the FICO scores

• In 2009 a study called Automated Injustice performed by the FTC and the US PIRG exposed flaws in the US Credit System. The Study mentioned 3 different suicide cases due to the flawed Credit and Dispute System.

• Taking money before completing the promised services is Illegal

Don’t-Promise or Guarantee

• Don’t Guarantee to Delete or Repair

• Don’t Promise a Time frame to repair or delete

– No one but the Credit Reporting Agencies control

this

• A completion date

– No one can control the outcome-so don’t promise a

date

• Do not advise the customer not to pay his or her

financial obligations

Good Do’s• That we will do our best

• We will educate you

• We will inform you of your progress

• If you do nothing , nothing will happen with your credit

• This is something the consumer can do on his own but can hire a professional to do it for them

• Not everyone qualifies, the client must be able to meet their financial obligations

Putting some pep in the Hand off

Mr. Carmona you could “Qualify” for a vehicle with us but as you know you need to address some issues on your credit report first.

Now even though I understand the credit system, I’m am not a credit expert. And it just so happens that we have a “Credit Expert” here today that will help you understand the problems that are keeping you from driving your car home today. I’m sure you want to be able to purchase on credit in the future , Right?

Let me introduce our credit expert Mr. xxxxxx tttttttt

TO (Turn Over to F&I or Credit Repair Specialist)

Your motivation

• Your own Portal to monitor Customer progress

• No Cost to you or the dealership you do not absorb the cost

• Your Personal User Name and Password to have client access

• Knowing when to call Be - Backs and close another deal

• 7 out of 10 customers are denied credit

• Adds value to the name brand

• Builds medium to long term customer loyalty

• Creates customers for life

• Decreases cost over time by diluting the marketing/advertising cost

Ready to Get PAID!

Every Closed Sales Created Today, Pays

Your F&I!One- $20.00 Two- $40.00Three- $60.00Four- $80.00Five- $100.00

Joel Pate Joshua Carmona

All Questions are Important