Deal Talk

The FTC can help

Last week crazy ads

Not a single number

Stats 69 months

Ad downs are not the average

5 % vs 7.63%

UDAP

UDAAP

Federal trumps local

You have a way to make things right

Consumer protection is alive and well

Your state’s interpretation

Bigger fines to curb abuse

Follow the chain of command

http://www.nclc.org/images/pdf/udap/analysis-state-summaries.pdf

Advertising and you

Last week

Episode 100

Interview

Bait and switch

Radio, paper, TV

Multiple rebates

Crazy trade values

No matter what you owe

Employee pricing, what?

Disclosures

Plus everything

FTC will help

Identify the good ones

Nothing else matters

100 episodes, still more

1. Last week When
2. Franks fortune
3. One percent story
4. Angela speaks
5. Never a shopper
6. Why shop the trade?
7. In person matters
8. Get it all not just a little
9. You have to want it
10. When a tie go with no fee
11. Only give the info they need
12. Don’t take estimates, only facts

When

1. Where, how, what, why
2. Frank’s story
3. Yearly
4. Climate change
5. Post-holiday
6. Week day
7. Last or 32nd
8. Time thoughts
9. Morning, noon or evening
10. New model, left-over, 2 year used
11. Oddity of design change
12. Leasing

Key Vocabulary

Review where to buy

Huge F&I profits

Is it worth the effort?

How much due diligence?

Guaranteed results at a level equal to effort

The main concepts

OTD is king

What cash?

Same exact vehicle

Trade value preparation

ACV vs Trade in allowance

Assertive

Why list vs price

Focus on what matters

Final rules

Compare for where

1. Review Deal has a problem
2. Check the amenities while testing
3. The considerations when you’re picking a dealer
4. What about the chain stores?
5. Selection does not equal value
6. Bureaucracy can get in the way
7. Online sellers, another mouth to feed
8. Make a list
9. No substitute for due diligence

Steps to part one

Review the minus equity

Dot Gov information

Ads won’t help you

Getting online quotes

What you might write

Where for Beacon

Bank info

Call insurance

After market research

The right warranty

Have you ever been this ready?

If your deal has a problem

Minus equity review

Repair bill stat

CPO lease

What kind of went wrongs

Due diligence, due process

Salesperson, Manager, Dealer principal

Manufacturer (Company.com) and the bank  

Better business (BBB.org)

Attorney general (your state.gov/attorney general)

FTC and UDAP statutes

Attorney

Assertive and persistent, not aggressive

Handling minus equity

Review finance office

In the news FTC used vehicle label changes

Rate changes

Aka, under water and minus equity, upside down

Why it happens

What to do

Type 1 and type 2

Resale = minus equity

Minimizing if you can

Tips for the future

F&I aka Business office review:

The news

Morgan Stanley weighs in

Last week finance and buying a used

Sixty years and nothing changes

The business office is about money

Shop the rates

Shop the products

Don’t be at the top of the profit average

Payment packing

Get the break down every single time

Be sure you are approved before a spot delivery

Ninety days to first, isn’t free