More people are taking on 84-month auto loans when it comes time to finance new and used cars. By the end of 2022, consumer credit agency Experian found that 84-month loans were underwriting nearly one-fifth of all new-vehicle purchases and 11 percent of used-vehicle purchases, according to Automotive News.

M&T Bank offers auto loans with terms up to 84 months, with 43.74% of loans having an original term of 77–84 months. The loans start at $2,000, and have an APR of 6.89%–15.89%. M&T Bank also offers relationship discounts for customers with qualifying consumer checking accounts.

WOW!!

Equity Mining/Call Campaigns

Hey all, getting back into the car world after a few years of absence; and I'm working on creating an equity mining process. Does anyone have any thoughts/ success stories for having a sales team do single shot calls vs call, text, email follow up over a set time?

For the most part, we all know that mining needs a lot of labor to yield any results, and I'm curious if I'm better off maximizing volume of calls vs working the individual calls a bit further.

Any insight would be greatly appreciated.

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After selling Driven Data, @jon.berna is back with another valuable data business for car dealers. LVL UP Auto helps dealers track and find vendors.

This RefreshFriday will be a bit different than most. We will be talking about Jon's vision for LVL UP auto and formulating a combined vision for how it can help enhance DealerRefresh. We would love to get your comments during the show. Your ideas, thoughts, and concerns are all welcome!

If you are a vendor, you should pay close attention to this.


Join us LIVE on Facebook, LinkedIn, or YouTube Friday at 1PM
https://www.facebook.com/dealerrefresh
https://www.linkedin.com/company/dealerrefresh
https://www.youtube.com/dealerrefresh

We are a large used dealer looking to add a photo booth. We photo are 150 cars per month. Currently running a DealerOn site with Spincar. Does anyone have experiance with some of these bigger name photo booth companies and purchasing one outright? What would be our best course of action? We have a indoor warehouse.

We are a dealer group with multiple vendors doing marketing outreach for us (elead, automastermind, impel, mailchimp, weststates, etc). I'm curious how other dealer groups are handling marketing opt outs. Are you getting monthly reports from your vendors and manually opting them out at all the other channels? We use comply auto for data opt out, but dont really have a solid process for marketing opt outs among all of our marketing channels.

As EVs are getting more popular what impact are you seeing it make on your service dept revenues? The claim that EVs need dramatically lower service hold any weight? Is it translating to lower revenues? If so, how are you thinking about the future? I understand it may be too early to tell but what are you seeing on the front lines?

AutoFi has been falling off lately. They're our only vendor that still hasn't figured out how to send conversions to GA4.

Anyone having a good experience with a different digital retailing service? I just scheduled a demo with Upstart but I don't know if there are some other options I should look at too.

Seems like a totally commodotizable service. No real switching costs other than the annoyance of setting things up again w a new vendor.

Hello!

I wanted to reach out and introduce myself to everyone on the forum! Looking forward to connecting with you all and contributing where I can. My business partner and I opened up an Independent car lot at the beginning of the year in the KC market. My partner and I have extensive automotive and mechanical backgrounds and have been repairing and fixing cars for about 8-10 years. We have been acquiring inventory through Facebook Marketplace and Craigslist right now looking for good sweat equity deals to make some money on. We want to get a floorplan within the next 2-3 months..

What financing companies are best to start out with? We have Dealer Center for our DMS and are in progress of signing up with Westlake and Western Funding currently. I have reached out to a lot of other lenders to make connections with and get affiliated with (CAC & Vantage Finance to name a few). CAC stated they wanted their dealers to have 6 months in business before signing up. I want to make sure we have sub-prime financing options available in order to help all of our customers get financed. Are there any sub-prime lenders that dealers like/prefer to use? Our inventory right now consists of units from 2010-2014.

We've also talked about Wholesaling since we are getting cars that we can have a high profit potential on since we're doing a majority of the recon and repairs in house starting out. What are the best ways to market units for Wholesale to other dealers? Should we be sending them to auction?

I am a telemarketer and wanted to know about the telemarketing lead generation system which shows the agent performance, i.e., leads generated, hours spent generating those leads, hours spent on a specific client with the on-call, etc., can get an overview of each agent's performance in a particular lead campaign. Any Suggestions?

Hi everyone, I recently joined Shyann Malone from CBT News to talk about social media in car dealerships.

Let me know how I did! As always, all feedback welcome.

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Just got the call from the CG rep. "Your rate is below market, your increase is +108% per month."

#CancelCG

Hello DealerRefresh Community,

We are an independent dealership in Florida facing challenges in recruiting bilingual sales talent for our team. We're reaching out for recommendations on recruitment agencies with good at automotive sales sector, particularly those experienced in filling commission-based, bilingual positions.

We believe in the power of partnership and are looking for an agency that can help us overcome our recruitment hurdles and contribute to our growth.

Please share your recommendations.

I'm trying to do some market research in order to advocate for myself in getting a really substantial raise. This info is really hard to find on the net as folks like me rarely have public-facing info.

I also understand this is considered sensitive information - as such I am open to receiving private messages with salary info etc. I will not be sharing this outside of trying to average the amounts I might get.

I SUPER appreciate anyone willing to discuss. Thank you.

I'm heavily thinking about buying this filter for my Fuji X100VI and letting it live on that camera. My purposes are very different, but this thing would ROCK vehicle photography.

It is called the Everyday Filter by PolarPro in collaboration with one of modern photography's biggest badasses: ShortStache Shortstache™

ShortStache has done some amazing work for Hyundai and Lincoln and I'll bet he used this filter on some of those shoots.

https://www.polarpro.com/products/shortstache-filter/ <---if you want to buy it. Get in line, though. We photographers are eating it as fast as they can make it.

What is it?

It is a circular polarizer combined with a mist filter.

Circular polarizers remove glare from surfaces, enhance color, and remove reflections on glass or water. 98% of the time, a polarizer was used when you see an amazing car photo.

Mist filters enhance highlights. They make lights and neon signs look amazing by extending the glow. They also have a pleasing effect by subtly smoothing skin.

Cool for cars

It doesn't matter if you are shooting outdoors or in a photo booth; the benefits of a polarizer + mist filter will add a special little pop to your images.

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