The last few years have been a challenging period for the used motor vehicle industry and our Country as a whole.  After a lengthy period of time with a very strong economy, today is very much different.  We currently find ourselves saddled with a sluggish economy, a national decline in the average consumer’s creditworthiness, bankruptcy rates at an all time high and, as if that were not enough, a shortage of lenders in the used car marketplace.  Naturally, one topic on everyone’s mind (and we hear this a lot at The Car Counselor’s TARP Programs)  is how to find new ways to sell cars to customers the dealership cannot otherwise get financed.

With the number of lenders conducting business in the used motor vehicle industry decreasing, one of the keys to attracting a lender to your dealership is to demonstrate the ability to minimize the lender’s risk.  When it comes to quantifying risk, all lenders have methods for evaluating customer creditworthiness and collateral, so these items speak for themselves.  A motor vehicle dealer should be able to make a case as to the positive creditworthiness and reputation of his dealership.  Lenders will often request credit information and references pertaining to both the dealership and the dealer principal.  Tax returns, along with well-prepared financial statements, should be available upon request. Read the rest of this entry →

Let me say thank you to all of the people responsible for a great NIADA Program in Orlando, Florida on Friday, January 15th. Keith Whann’s, “The Car Counselor’s T.A.R.P. Program” was attended by about 300 at Manheim’s Central Florida Auto Auction. Read the rest of this entry →

We are expecting a packed house for the Orlando TARP Program at Manheim’s Central Florida Auto Auction, but there is still room for anyone that wishes to attand. If you can’t be there in person, be sure to tune in on Auttr.TV. See you tomorrow!

The NIADA Car Counselor’s TARP Program Travels to Philadelphia today. Mike, Georgia, LJ, Regina and I will be the guests of Manheim’s Philadelphia Auto Auction for the day. The program starts at 9, hope to see you there. If you can’t be there in person, be sure to catch some of the day’s program on Auttr TV Live!

Online registration is now available at www.WhannTarp.com for The Car Counselor’s TARP Seminar in Philadelphia. Online registration for the other upcoming events will be available in the near future. A special thanks to Joe, Juls, Christina and the rest of the NAC team for helping to make this possible!

Thanks to Jim Mitchell and the team of OIADA Preferred Partners who participated in today’s discussion at CFAA concerning the Car Counselor’s TARP Program. I appreciated the value you all saw in the Program and your desire to see it continue throughout the coming year. I will give that some serious consideration, along with your requests for additional programs covering certified vehicles, the F&I process and the Internet. For those of you who were not in attendance, if there are educational programs you would like me to consider, here’s your chance! Thanks again, Keith

Keith Whann presents “Together Automotive Retailing Prospers” to a large group of lending professionals at the NIADA Convention.

How do I handle an out of state sale? Out of the country?
May I incorporate my dealership’s warranty in the purchase documents?

If you have a question, he has an answer! Post a question on Auttr for a quick answer!