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The Hybrid Dealer

September 2008, F&I and Showroom - Feature

by Kelli Wood - Also by this author

At a time when consumers are being thriftier and automobile sales are being driven down by rising gas prices and a challenging economy, it can be difficult for a dealership to stay ahead of the game. But despite a tough market, McCloskey Dealerships in Colorado Springs and Pueblo, Colo., are seeing increases in profitability.

Joe McCloskey, owner of McCloskey Dealerships, has found a way to bring in compliance and full-spectrum financing to keep sales steady and maintain profitability during this economic downturn.

Matt Bitler of Southwest Dealer Services calls McCloskey Dealerships “hybrid dealerships” because of their ability to bring in all types of customers, from subprime to prime.

“They delve heavily into the special finance market, and they have the unique ability to do a great job with that business,” he explains. “But they also attract customers from the rest of the credit spectrum.”

This balance is part of the reason McCloskey Dealerships have remained successful over the last 20 years. “Diversification of our sales and loan portfolios has helped to sustain sales,” McCloskey says.

 

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