F&I and Showroom, February 2019

www fi magazine com 15 F I and Showroom February 2019 N Nick Waddell is a Toyota guy He has spent most of his nearly 25 year career with the brand The infatuation began in 2003 when he went to work as a finance director and later general sales manager for Penske Automotive Groups Central Florida Toyota It intensified through stops at Southeast Toyota Finance div World Omni Financial and Toyota franchises owned by the Morgan and Gettel groups then culminated in his appointment as general manager of Peterson Toyota of Sarasota Fla in April of last year Somewhere along the way he spent five months as GM of a Central Florida Nissan point Though not inclined to disparage other brands Thats tough for a Toyota guy Waddell admits Toyota is so organized as a manufacturer They just make it easier to sell cars Waddell had worked as a finance director or executive for more than 10 years before making the jump to the general sales manager level where he would set monthly records under the tutelage of some really good GMs and set the stage for further advancement They got me ready from an operational standpoint he says crediting that guidance plus his multifaceted finance background with leading him where he is today But as he approaches his one year anniversary this Toyota guy is focused firmly on the future having gone all in on digital sales and F I Im not necessarily an early adopter but having worked with larger organizations I do consider myself innovative Penske Morgan Gettel give them credit because they innovate well and they will use something if they consider it cutting edge PROCESS ENHANCEMENTS Toyota of Sarasota was acquired by the Peterson Automotive Collection in 2017 It is the first Toyota franchise and the first Florida store for the Louisville Ky based group and its owner David Peterson The group also includes Mercedes Benz and Mini stores in Louisville and Mercedes Benz dealerships in Cincinnati and West Chester Ohio Peterson Toyota is one of several new car dealerships on Sarasotas Tamiami Trail a stones throw from Little Sarasota Bay and was averaging about 250 new and used units per month going into the fourth quarter of 2018 Waddells goal is 300 and he is determined to use every tool at his disposal to get there He and his management team considered three digital retail providers demoed two and chose AutoFi After looking at the two platforms I felt theirs was the most user friendly both from the dealerships standpoint and from our customers standpoint Waddell says Its possible to take a program like this and overthink it The installation began in late August Today visitors to Toyota of Sarasotas website can select a vehicle connect with a salesperson request a quote get a trade in estimate submit their credit application structure their deal and self select F I products If they can wrap it up remotely all thats left to do is sign the paperwork and take delivery But the pump is primed for the F I manager who can greet the customer and take the opportunity to continue the conversation about protection products AutoFi claims its dealers F I gross profit per vehicle is 500 higher than NADA averages DIFFERENCE