The Lot Blog

Behind every successful car dealership is a solid team of individuals working together for the greater good. To build and nurture a quality team, your dealership should foster an environment where your staff feels empowered, valued and safe. If...
Income status is one factor that is considered when approving a potential car buyer for auto financing. Since income plays a key role in a car buyer’s ability to get approved for financing, those with unemployment or fixed income often get denied credit approval to buy a car....
As you know, there are many different types of people who come into your car dealership looking to buy a reliable car. Some have a good credit history while others have difficulty getting credit approval from auto lenders and finance companies due to bad credit. People who have a bankruptcy or...
While meeting sales cycles and quotas may be the keys to running a successful car dealership, having a well-trained staff is a critical component to accomplishing those key metrics. Taking the steps to ensure your dealership staff is trained during these unprecedented times may...
The way people respond to advertisements has changed significantly over the years. Gone are the days when consumers were easily wowed and won over by flashy signs and aggressive sales pitches. Nowadays, having quality content that informs, engages and resonates with potential customers is how...
Back in the day, a car dealer’s reputation was built through word of mouth and street presence. However, in today’s modern, digital era, more factors play a role in building and maintaining a solid reputation, including online and community presence. Here are...
If you are an independent, franchise or Buy Here Pay Here car dealer, you most likely work with different lenders and finance companies to help car buyers with a range of credit scores get approved for financing. When working with a variety of customers, helping them find the best auto...
Although the coronavirus pandemic has disrupted the automotive industry, J.D. Power states that overall car sales should regain...
With the economy significantly impacted by COVID-19, online and mobile shopping has dramatically increased, with the result that dealerships are becoming more innovative with regard to their online and mobile car shopping experience. A recent study from PYMNT...
Understanding how much your customers want to spend is important when helping them purchase a car that meets their budget. If you’re a car dealer that offers subprime auto financing to car buyers with bad credit or no credit, listening to your customers’ needs and showing them cars that are within...
Whether you’re a franchise, independent or buy here pay here car dealership, you’re in the business to sell cars and make a profit. But in order to do this, it’s important to have the right systems and strategies in place for your sales team to achieve and maintain consistent, positive...
The COVID-19 pandemic has impacted numerous companies around the world, causing them to reevaluate their business models to stay afloat in this unstable economy while striving to keep their employees and customers safe. With shelter-in-place and business closure orders in ...
Oftentimes, credit-challenged car buyers have a hard time getting approved for financing because of their poor credit history. Given the fact that many car dealers offer vehicle financing that primarily caters to prime and super prime car buyers, there are many consumers that...
When it comes to auto financing and/or purchasing a vehicle, many first-time car buyers—a majority of whom include Generation Z and younger millennials—don’t know what to expect. With...
When it comes to running a used-car business, independent car dealers usually have two things in mind: 1) having sufficient capital and access to quality inventory, and 2) selling more cars to grow their business. Having a strong web presence, mobile technology,...
With the rise of online shopping and the influence of web and social media on the car-buying process, it’s easy to think that younger, tech-savvy generations are more inclined to shop for and even purchase their vehicles online. While that assumption isn’t far-fetched, a recent...
While offering subprime auto financing may not seem necessary for your franchise car dealership, it can mean more for your car sales than you may give it credit for—pun fully intended. If your dealership currently does not offer subprime financing, you’re...
Between April 24 and May 1, 2019, Cars.com surveyed more than a thousand current and expecting mothers about their top needs and concerns when shopping for the perfect family...
If you’re a Buy Here Pay Here car dealer, chances are you already offer your own, in-house vehicle financing to car buyers with bad credit or no credit. If this is the case, you may not see the benefit in working with subprime lenders or finance companies....
Millennials (people born from 1981-1996) are an important car-buying generation for today’s car dealers. According to an article by Max Digital, 34 percent of millennials intend to purchase a vehicle in the next 12 months, and this trend will continue as they grow their ...