subprime financing will always be needed in the auto industry but where are we head with all the increased regulations from washington with the CFPB and Dot Frank and all the other BS they want to mf the biz with when we have a biz that rebonds the economy in most ares and local cities need us as much as we need them
I have been a big fan of your preachings in the subprime market for years. I have written to you in the past. I am an ex new car dealer and have opened up a tier 4 franchise for a luxury dealer group in a Northeastern urban area. I know it is an oxymoron and when I tell you that this has been a big mistake that this group took on this franchise is understatement. I do not know how to get them to understand the importance of this market for their franchise.If you could get back to me and help me with some advice on how to approach the ownership of this group I would really appreciate this.
Greg: Hope you are doing well. I have designed a unique Related Finance Program for independent dealers that includes a compliance piece and up to $1.5 million in a financing facility. Is there a time I could call you to discuss after 11am Pacific time on Monday?
I joined Auto Dealer last December just prior to tax season. I represent a national firm that allows auto and other industries the opportunity to prepare returns from their locations at no cost or liability. I works very well for dealers with sub-prime customers as the check or debit card is issued right from the dealership. My question is how much info can I put up on the site to try to market the service? I responded to messages last year when I saw the tax topic come up, but I would really like to get a jump on it before the season begins.
Mr. Greg Goebel is the President and CEO of Used Car University, LLC the parent company of Greg Goebel Training and Consulting. He most recently was the founder and CEO of Auto Dealer Monthly magazine and Special Finance Insider, which was sold to Bobit Business Media in December 2012. He is a noted auto industry trainer, consultant, speaker and author.
Greg has owned and operated businesses in the automotive industry since 1979, including Buick, Pontiac, GMC and Hyundai franchises as well as independent dealerships. He spent 18 years as a dealer and 23 years owning and operating service and parts operations. His retail background also includes owning one dealership dedicated solely to the Buy-Here Pay-Here market segment.
Greg was named the Indiana Quality Dealer of the year in 1994 by the Indiana IADA and was the creator of the Independent Dealer Twenty Group program formed through NIADA and NCM Associates in 1995.
From March 2002 through December 2005 Greg served as a 20 group moderator and was instrumental in the development of several new specialized 20 groups including a special finance group, high-line group and a Volvo service group.
Greg's real passion lies in the Special Finance segment of the automotive industry. He was one of the first dealers to agressively enter the Special Finance market in 1990 and his dealerships delivered over 11,000 sub-prime deals. He currently shares his proven Special Finance techniques through his workshops and onsite consulting as well as authoring articles in Auto Dealer Monthly Magazine, Special Finance Insider Magazine.
Greg has also been featured in World of Special Finance, Dealer Magazine, Ward's Dealer Business, and Used Car Dealer magazines. He is frequently a featured speaker at industry conferences and conventions, as well as 20 group meetings.
Greg graduated from Purdue University in 1976 with majors in Finance and Marketing, and did post graduate work at Wharton Business School in Philadelphia.
He served as an officer on the Executive Committee of the National Independent Automobile Dealers Association from 1996 - 2000. He has held positions on National Dealer Advisory Boards or Councils for Pontiac, GMC Truck, National Auto Credit, Universal Underwriters Acceptance Corporation, Household Automotive Finance and Hyundai Motor America.
Greg lives with his wife Ali, and the youngest of their three daughters in Sarasota, FL. You may contact him at 941.927.8439 or at Greg@AutoDealerMonthly.com.
"Lead, follow or get out of my way!" - Thomas Paine
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Activities Away From Work
Endurance running, tennis, power boating and auto racing.
"Hello and Happy Friday!
I just want to introduce myself. I have been in the automotive sales industry most of my life. I started out washing cars and turning wrenches as a child for the family business, then onto automotive sales, F&I Manager,…"
"My opinion as a dealer was, and still would be if I still had stores, that 5% is about the right number. That means 1 in 20 need to be brought back in for a re-sign. Mind you that my stores operated in states that allowed spot deliveries…"
Chief Financial Officers, Comptrollers, and Office Managers are encouraged to join this group designed to help manage your dealership's assets, protect profits, and limit liabilities. Co-Moderated by Scott Norman of NCM Associates.See More