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COLUMBUS, Ohio – The National Independent Automobile Dealers Association and Columbus Fair Auto Auction hosted dozens of lenders and dealers at a seminar designed to stimulate used-car sales.
Keith Whann, NIADA’s general counsel, led the Oct. 16 seminar called The Car Counselor’s TARP – Together Automotive Retailing Prospers – focusing on a variety of topics from online advertising to the NIADA’s new certified pre-owned program for independent dealers.
More important than the information, though, was the networking opportunity the event provided.
“We needed to put lenders and dealers together,” Whann said.
Dozens of finance companies set up stations in the lanes of Columbus Fair Auto Auction and met with dealers during breaks in the program.
The representatives included local banks, national finance companies, floor planners and service contract providers.
Brad LeBlanc, dealer consultant for Alpha Omega Group LLC., in West Chester, Ohio, signed up a dealer onsite.
LeBlanc markets F&I products to dealers and connects them with finance sources.
One piece of advice Whann shared at the seminar was dealers need a business plan and the ability to sell themselves to finance sources.
“You’ve got to be able to tell your story,” Whann said, “and it better be written down.”
Creditors want to work with dealers who use the right practices and procedures. More importantly, they want to know those practices and procedures are in writing.
Whann also unveiled the NIADA’s new, free certified vehicle program exclusively for its members. The program, developed with NAC, allows dealers to offer consumers a certified vehicle featuring no deductibles, free towing, roadside assistance, alternative transportation and other benefits.
Depending on the vehicle, the dealer may offer a comprehensive three-month, six-month or 12-month warranty.
Whann helped develop over the program and gave it a seal of approval in the compliance department.
NIADA CEO Mike Linn said developing the program took time.
“Keith and I have been talking about a CPO program for years,” he said. “But we wanted the right program.”
He said a solid dependable warranty was key to any NIADA certification.
NIADA ultimately partnered with NAC because of its 25-year reputation of reliability, Linn said. |
