The Industry's Leading Source For F&I, Sales And Technology

Article

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.

 

Your Comment

Please note that comments may be moderated. 
Leave this field empty:
Your Name:  
Your Email:  

Blog

So Here's the Deal

Ronald J. Reahard
Avoiding the AAA Objection

By Ronald J. Reahard
Top trainer advises F&I pros to eliminate the ‘I have AAA’ objection by downplaying the very real — but relatively minor — roadside assistance benefit included with most service contracts.

(Video) Capture Missed VSC Sales

By Ronald J. Reahard
In response to a reader question, the magazine’s F&I wiz updates his plan for re-pitching service contracts to customers who declined the protection at the time of delivery.

The Dealer Moved My Goal Posts

By Ronald J. Reahard

Addressing F&I’s Internet Problem

By Ronald J. Reahard

Done Deal

Gregory Arroyo
Protecting F&I’s Future

By Gregory Arroyo
The editor responds to a reader’s question about whether F&I managers are being replaced by iPads and digital retailing tools.

Game Almost Over

By Gregory Arroyo
With the CFPB’s controversial guidance officially repealed, the editor delves into what the bureau was really after in its targeting of dealer participation.

The Repair Is Covered

By Gregory Arroyo

Change Is Happening

By Gregory Arroyo

Mad Marv

Marv Eleazer
Stop Painting Dealers With a Broad Brush

By Marv Eleazer
His Madness has a few choice words for media members who obsess over every act of dealer malfeasance while ignoring their charitable and volunteer efforts.

I Love F&I. How About You?

By Marv Eleazer
His Madness challenges F&I professionals to decide right here and now whether F&I is your career or just a job.

Is That Legal?

By Marv Eleazer

Overcome Your F&I Weaknesses

By Marv Eleazer

On the Point

Jim Ziegler
Bound to Fail

By Jim Ziegler
Da Man returns with a message to vehicle manufacturers jumping into the subscription waters: It ain’t gonna happen.

Sharpen Your Survival Skills

By Jim Ziegler
‘Da Man’ has a plan you can use to survive the collapse of the car business and remain profitable through the dealer apocalypse.

Sales Rock Stars Still Exist

By Jim Ziegler

The New Stooges

By Jim Ziegler