Notifications & Messages

Jared Hamilton
From: Jared Hamilton
Hey - It’s time to join the thousands of other dealer professionals on DrivingSales. Create an account so you can get full access to the articles, discussions and people that are shaping the future of the automotive industry.
×
Amy Taggart

Amy Taggart Marketing Manager

Exclusive Blog Posts

Women in the Dealer Workforce: Where We Are & Where We Can Go

Women in the Dealer Workforce: Where We Are & Where We Can Go

It’s no secret that women make up a small portion of the dealer workforce and turnover among women is high. By not attracting and retaining women in the …

Car Subscriptions - Q and A with Bill Playford

Car Subscriptions - Q and A with Bill Playford

I had the chance to interview Bill Playford about car subscription services, and how they're going to change the marketplace. Take a look what this ins…

Be The Exception

Be The Exception

How brilliant marketers find and follow what makes their stories different in a world full of average content DrivingSales is excited to announce th…

Keeping Up with the Joneses in Quick Lube

Keeping Up with the Joneses in Quick Lube

More than half of all sales customers will abandon your dealership’s service department in the first year. It’s a widely varying statistic &nda…

It Has Never Been Easier To Be Average

It Has Never Been Easier To Be Average

It has never been easier to be average. This post was written by Jay Acunzo, who will be speaking at the upcoming DrivingSales Executive Summit in Octob…

What Goes Around Comes Around -- Even with Special Finance

Two years ago I spent 3 days in New Orleans at an NADA show that was more frustrating than anything that I could imagine. 

Not only did I have to contend with slashed ad budgets, but it seemed like half of the folks that I spoke with were convinced that special finance was dead and would not experience a Lazarus-like return.  Most of the people seemed to pity me, seeing our auto finance marketing products as a once-great idea whose time had come and gone. 

I was basically trying to sell encyclopedias at a Google convention.

While most people gave me a polite brush off, one General Manager decided that he would take a half-hour to explain to me why subprime could never come back.  Armed with some CNN sound bites and some out-of-context data from Automotive News, he gave quite an impressive soliloquy on the brave new world of auto finance.  I, of course, tried to explain my belief that our industry would not tolerate a vacuum for long, and with credit scores dipping some banks would figure out a way to structure their programs to fill the void.

His final words as he walked away from our booth were “I like that you can come up with reasonable arguments to support a fundamentally flawed position, once you guys go out of business give me a call and I may have a spot for you”.  He laughed and walked on to his next session, while I shook his comments off and looked for the next person who would give me a few minutes to chat.

I was reminded of this story earlier this week when I got a call from the same GM. 

He’s now the Finance Director for another store, and obviously didn’t remember me, but I sure remember him.  He spent about 5 minutes telling me about his research that showed special finance was going to come back soon, and he was thinking about buying some leads. I shared with him that subprime had already come back, and that the banks had created programs that helped get people into cars without setting us up for another mess in a few years. 

I’d be lying if told you I didn’t get some pleasure out of telling him that he’d missed out on the opportunity to get in early, and that I was sold out of leads in his market. 

 

Bob Harwood is the National Sales Manager for Carloan.com. Prior to joining Carloan.com six and half years ago, he worked on both sides of the financing process -- first at Capital One and then at a dealership here in Richmond. You can reach Bob at 804-521-8581 or via email at bharwoodATcarloan.com.

 Unlock all of the community & features  Join Now