As of the first quarter of 2020, there were 116.46 million car loans in the U.S. In any market conditions, lenders require the right data and insights to effectively manage their loan portfolios. With…
Hands-Off Tools for No-Contact Deals
As cities are “reopening” around the country, we see buyers returning cautiously, with just 2% of consumers considering things to be “back to normal” according to the Cox Automotive COVID-19 Consumer Impact Study (June…
3 Keys to Reimagining Your Dealership’s Back Office
Now is a great time to seek out time- and money-saving opportunities in every facet of your operation, including registration and title processing. Why? Because making your back-office processes more efficient can help address…
Why Now is the Time for Auto Lenders to Go Digital
Over the past several years, the paperwork and manual processes for handling auto loans have been gradually giving way to technology-based processes. But this year has changed everything. In the wake of the COVID-19…
Hiring for your Digital-forward Dealership
A version of this article originally appeared on Hireology here. BY BETH KEMPTON | HIREOLOGY Following widespread closures as a result of COVID-19 stay-at-home orders, dealerships across the country are gradually reopening as states…
Untapped Opportunities for More Efficient Deal Completion
An increasing number of dealers are adopting digital retailing tools to power the car buyer journey. Sharing inventory and starting deals online allows dealerships to expand their reach and customer base, which translates into…
CASH FLOW OPPORTUNITIES: THINGS TO CONSIDER WHEN RETHINKING YOUR BACK-OFFICE PROCESS
Now more than ever, dealers are looking for ways to promote efficient processes that can stimulate healthy revenue flow for their business. After all, cash is king, especially when looking at the current state…
Staying Compliant While Working Remotely
Staying Compliant While Working Remotely The rapidly changing circumstances around the COVID-19 pandemic forced dealerships to adapt quickly. In areas where shelter-in-place or stay-at-home orders led to closed showrooms, some dealership personnel even relocated…
Dealertrack is here for you. Here’s what we’re doing.
During these interesting times, our number one goal at Dealertrack DMS is to help you find the best path forward. As a Cox Automotive business, we have been planning for years for the emergence…
Operate More Efficiently with Technology and Attentiveness
In today’s unprecedented automotive landscape, social distancing and economic hardship have put increased pressure on dealership profits and placed a crunch on cash flow. According to Cox Automotive surveys, dealerships are reporting 60-70% declines…
6 Ways to Drive Digital Transformation at Your Dealership
As the automotive retail industry faces new challenges, forward-thinking dealerships are reimagining their business environments. One of the most obvious and natural evolutions of having socially distanced customers and workers is to leverage technology…
5 Tools for Driving Operational Efficiency
Dealership operations are facing new challenges in the face of uncertainty. All industries will be impacted—either immediately or eventually—in 2020 by new Social Distancing guidelines and new operating models. Yet, the automotive industry…
