McLean, Va. -- NADA has introduced a management education DVD to teach dealers about the gross profit potential of special finance market.
The four-segment training video titled, "Creating a Special Finance Operation: Doing it Right," will teach dealers how to build a successful special finance operation. The video will include a case study of an actual dealership and cover staff management, sales process, inventory and marketing.
"Call it subprime, non-prime, secondary or special finance—this large and growing segment of the market needs dealers who are prepared to sell credit-challenged customers the vehicles they need at prices they can afford," the association said.
As many as three out of five auto consumers suffer from damaged credit, according to NADA. But the association advises dealers not to ignore the subprime market, which could yield additional gross profit for the dealership.
For more information about NADA's educational DVD and study guide visit www.nada.org/specialfinance.