Like everyone knows, the finance department is arguably the most important department of the dealership. Dealerships are relying more and more for strong #'s from their finance department in order to be successful. With that said, the GM has asked me to spend time with our 2 finance managers and evaluate the entire department. I am going to review their #'s over the last 12 months and find areas where we can improve the department both in overall gross and product penetration. I'm happy to spend as much time as is needed with them due to the fact that I get paid on the overall gross generated from the sales department. If they do better, I do better.
With that said, I know what we expect from them is a very lofty but attainable goal. The reason I know our goals are attainable is because I was able to do them on a fairly regular basis. I did finance when times were better and banks were easier to deal with. So I'm wondering if it is a totally different game now and if the #'s that we did back in the day are still attainable.
Here's what we expect out of them:
In total, the goal is $1500 per car. That is new and used combined.
I was wondering if those #'s are attainable or if the goals need to be modified due to current market conditions. Are there dealers who's finance guys are still putting up these kind of #'s?? Let me know