F&I and Showroom, Industry Summit 2014

F I Pacesetters system which delivers and manages compliance training and testing Finance managers are also required to attend fi nance training at CNA Nationals Scottsdale Ariz training facility The groups agent Dealership Income Developments Tom Luzader also provides regular training on compliance product knowledge and customer service He also heads up the dealerships new hire training Secret Weapon Autumn Henderson assumed a leadership role four years ago and brought with her a modern approach to the business Mandrell says the changes shes made and her leadership style have forged a closer bond between the organizations front end departments Everybody likes their job Were competitive but its not a stressful environment We all work together Mandrell makes sure he has someone from his team helping the desk and he has forged a solid relationship with the dealerships business development center He credits that connection with helping his department achieve a higher back end average on deals from BDC customers than walk in traffi c The family atmosphere inside Liberty GMC has also had an effect on the organizations CSI score which sits at 95 Its also why 75 of the dealerships business derives from repeat customers Mandrell says the average tenure in his department is an enviable 76 years Industry Leader In 2013 Henderson made Automotive News 40 Under 40 list for leading a cultural change inside her dealership Last year Liberty GMC earned its 11th GMC Dealer of the Year award and its 12th GM Mark of Excellence distinction Setting the Pace Liberty GMC supports numerous youth sports programs including Little League youth football and hockey and two tennis leagues It also supports local backto school programs the Susan G Komen Foundation and the annual Muscular Dystrophy Walk Its support for military veterans and active personnel Since joining McCaddon Cadillac Buick GMC this past January F I Director Jusin Gasman has more than doubled the departments per copy average which sits in the 1400 to 1500 range for both new and used extends to the Wounded Warrior Project Packages From Home Pets for Vets the Folds of Honor Foundation 16 F I and Showroom Industry Summit 2014 the Armed Forces Support Group Honor House the Luke Chapter of the Military Offi cers Association of America the Fehertys Troops First Foundation and the Foundation for Service Dog Support MCCADDON CADILLAC BUICK GMC Background Check The McCaddon name has been synonymous with the city of Boulder Colo since 1958 Thats when George McCaddon purchased what used to be a usedcar operation with an Oldsmobile point The dealer who passed away 10 years ago later added Cadillac GMC and Pontiac franchises Today McCaddons son Mark carries on his fathers tradition The Numbers The groups profi t per vehicle retailed average PVR sits just north of 1500 on new and at about 1400 for used but there are months when the two person F I teams per copy average reaches into the 1600 to 1700 range all while maintaining a sub 5 chargeback rate The departments top seller is etch or what it calls security coding The protection penetrates at a rate of 80 GAP follows with a 63 acceptance rate while service contracts penetrate at 52 Compliance Check The dealership employs several layers of compliance checks to ensure the F I department adheres to federal and state regulations The dealership recently installed an online compliance management system provided by American Financial Automotive Services AFAS It distributes legal compliance content developed by Tampa Fla based Mosaic Compliance Services to every employee in the dealership The F I policy section alone is 96 pages Backing the CMS is Tom Wilson AFAS dealership development manager He conducts regular deal audits and conducts biweekly training sessions for front end staffers Secret Weapon The dealerships F I director Justin Gasman joined the dealership in January and has since doubled its PVR They were running somewhere in the 600 to 800 per copy range which they were fi ne with says Gasman a Senior AFIP certifi ed F I pro I showed them it was possible to make 1200 without having high chargebacks The Boulder market touts the highest concentration of software engineers and PhDs in the U S and a high number of cash customers according to Gasman Were literally selling products to rocket scientists And if you think youre going tell them about an onboard computer and not know what youre talking about theyll sniff you out and youre done Gasman also has an unusual tech