F&I and Showroom, Industry Summit 2014

THE PROGRAM that sells cars THE PEOPLE who make it happen THE PARTNERSHIP that grows profits TODAY MORE THAN EVER YOUR DEALERSHIP NEEDS A TRUE SUBPRIME FINANCE PARTNER You need sales You need profits You need options Credit challenged customers represent an unprecedented share of your dealerships ups In order to maximize your benefit from each of these precious opportunities you need a true partner Prestige gives you the tools to sell more cars to more customers at higher profits Pre Discharge Chapter 7 Pre 341 Chapter 13 Bankruptcies Double bankruptcies No minimum credit score requirement No minimum down payment requirement Automatic Rate Reduction RewardsSM for good customers Competitive acquisition fees and participation up to 2 160 loan to value available on all eligible vehicles Additional front end advance and extended term on select imports Up to 100000 miles on domestics and 125000 on select imports Combine this powerful program with live buyers make sense approvals fast fundings and the industrys best dealership training regimen and you have more than just another bank You have a partnership 1 800 98 GoPFS GoPFS com Operating as Prestige Auto Finance Corp in CT DE FL MA and NH Rate Reduction Rewards For every three months of on time payments and continuous insurance coverage Prestige may reduce the APR by up to one half of one percent 50 or up to two percent 20 annually 14 minimum APR after all reductions Customers contracted at 14 APR or lower are not eligible Prestige is not obligated to offer Rate Reduction Rewards to its customers and may charge or terminate the program at any time and with out notice 2014 Prestige Financial Services Inc send out is a winner and you dont give anyone the prize you can get in trouble More Money Down Advertising No Money Down in the large print with a low payment and then disclosing that its a lease that requires 3000 in fees and taxes in the small print will get you on probation for 20 years Motor Mouth Have you ever heard a radio commercial that starts or ends with some guy reading the disclaimer incredibly fast Dont try to tell me the dealer didnt know this was bogus before he recorded it The ad promised monthly payments of 99 for a new Kia and very hurriedly mentioned that payment amount was only good for the fi rst two months The remaining 70 payments were 521 a month Who wouldve guessed that could be a problem The bottom line is the bottom line You dont have to be bogus to succeed in retail In most of these instances I have to grudgingly agree with the FTC that these dealers knew the ads were deceptive and confusing They designed the ads that way on purpose There are some instances where I believe they went too far in their interpretations but in most cases they had a valid point We need to clean up our act And remember this If you hire a vendor to do your advertising especially online lead providers and direct mail companies you are liable for the content of the ads and mailers and responsible for the legal consequences Until next time keep those calls and emails coming and fi nd me on Face book and Twitter Jim Ziegler is the president of Ziegler SuperSystems Inc Email him jim ziegler@ bobit com