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Modern Dealer: Business Development with Colin Thomas BDC Colin™

Modern Dealer: Business Development with Colin Thomas BDC Colin™

By Colin Thomas

Whether you are building a BDC from the ground up or you have a an existing BDC, Colin can analyze your sales process, make recommendations on how you can sell more cars, assess the sustainability of your team members, provide one-time or ongoing training, coaching and management both in a classroom group environment and one-on-one, help your BDM/BDD by installing tools and metrics to hold your team accountable, or have an open-house recruiting event for your sales floor or BDC, 708-RED-LINE. BDC Colin works with all NEW unit OEMs
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Your follow up sucks

Modern Dealer: Business Development with Colin Thomas BDC Colin™ Jan 10, 2024

00:00
15:19
Your follow up sucks

Your follow up sucks

It sucks.
Jan 10, 202415:19
FTC Proposes Rule to Ban Junk Fees, Bait-and-Switch Tactics Plaguing Car Buyers

FTC Proposes Rule to Ban Junk Fees, Bait-and-Switch Tactics Plaguing Car Buyers

In a bulletin issued by the federal trade commission on June 23, 2022 the FTC Proposes Rule to Ban Junk Fees, Bait-and-Switch Tactics Plaguing Car Buyers As auto prices surge, agency launches rulemaking to protect consumers’ pocketbooks and level the playing field for honest dealers regarding: Ban bait-and-switch claims: The proposal would prohibit dealers from making a number of deceptive advertising claims to lure in prospective car buyers. This deal deception can include the cost of a vehicle or the terms of financing, the cost of any add-on products or services, whether financing terms are for a lease, the availability of any discounts or rebates, the actual availability of the vehicles being advertised, and whether a financing deal has been finalized, among other areas. Once in the door or on the hook, consumers face the fallout of false promises that don't pan out. Ban fraudulent junk fees: The proposal would prohibit dealers from charging consumers junk fees for fraudulent add-on products and services that provide no benefit to the consumer (including “nitrogen filled” tires that contain no more nitrogen than normal air). Ban surprise junk fees: The proposal would prohibit dealers from charging consumers for an add-on without their clear, written consent and would require dealers to inform consumers about the price of the car without any of optional add-ons. Require full upfront disclosure of costs and conditions: The proposal would require dealers to make key disclosures to consumers, including providing a true “offering price” for a vehicle that would be full price a consumer would pay, excluding only taxes and government fees. It would also require dealers to make disclosures about optional add-on fees, including their price and the fact that they are not required as a condition of purchasing or leasing the vehicle, along with disclosures to consumers with key information about financing terms. Access the full bulletin here https://www.ftc.gov/news-events/news/press-releases/2022/06/ftc-proposes-rule-ban-junk-fees-bait-switch-tactics-plaguing-car-buyers?fbclid=IwAR0fyI_swROjp0UXvPgy_Ml4rRxF8qrOvfQzRz5iZGNFU_mgn0Fxx7LVoMI&fs=e&s=cl
Dec 03, 202318:27
R/AskCarSales

R/AskCarSales

In this episode we discuss a subreddit that demonstrates the serious denial about where our industry is heading. Call or text if I can help 708-RED-LINE
Dec 03, 202327:29
Sales and BDC Recruiting - Forget resumes! The Voicemail Screen!

Sales and BDC Recruiting - Forget resumes! The Voicemail Screen!

Have you ever listened to your sales calls and wondered why your people sound so terrible? It’s because you didn’t hire them based on their ability to communicate on the phone! This is an example of an outgoing greeting I use to ID BDC and Sales talent. Since 90% of appointments that set, show and deliver are set on the phone, it only makes sense to screen potential new hires based on their phone presence! There are some aspects of the job that are trainable but others are not. This technique has helped me identify thousands of A game players over the years while reducing wasted time meeting with folks who just don’t have what it takes to be rockstars on the phone! If you need people, process and more profitability, I can help … call/text 708-RED-LINE
Dec 03, 202300:44
Ethics in Automotive

Ethics in Automotive

In this episode Richard Cunningham joins in to discuss the state of the union in automotive retail, implications of some of the proposed FTC regulations and Ethics in auto.
Dec 03, 202358:11
Markups.Org - Special Guest - Tiffany Soucie-Howren

Markups.Org - Special Guest - Tiffany Soucie-Howren

On todays podcast we have Tiffany Soucie-Howren, the COO and Co-Founder of MarkUps.Org. We discuss how the website evolved into the household name it’s become in just 6 months and some of the practices that dealers may be engaging in that may be putting them at risk of alienating their customers. If customer retention is important to you, you’re definitely going to want to check this one out!
Dec 03, 202301:03:19
Quality VS quantity

Quality VS quantity

Colin Thomas and Dominic Cergnul who both have extensive experience building and managing Business Development Center initiatives across the country discuss Quality VS quantity in the BDC and shifts in dealers BDCs over the past few years.
Dec 03, 202359:30
BDC Recruiting

BDC Recruiting

You can’t out manage a poor recruiting strategy!
Dec 03, 202328:50
Short deposits

Short deposits

Your deposit last month was short
Dec 03, 202309:36
Off Lease Only, LLC company closure 750 employees laid off

Off Lease Only, LLC company closure 750 employees laid off

Today, the 750 employees of Off Lease Only, LLC found themselves unemployed . After nearly 20 years in business, OLO in an internal memo stated 1. What is Off Lease Only announcing today? Is Off Lease Only going out of business?
Yes, Off Lease Only ("OLO" or the "Company") has initiated an orderly wind down of its business.
Over the coming weeks, we will be taking various steps to responsibly shut down our operations and liquidate our assets. We anticipate the wind down will take approximately 30 days to complete.
2. How did Off Lease Only end up in this situation?
As most of you know, unprecedented changes to the automotive retail landscape over the last few years resulted in unanticipated challenges and competitive pressures for independent used vehicle dealers. We have been significantly impacted by the scarcity of inventory and inflated prices stemming from disruptions in the supply chain. Elevated pricing and rising interest rates have further deteriorated conditions in the automotive retail market, weakening consumer demand and affordability. Industry headwinds coupled with the decreased affordability of used cars has put us in an incredibly difficult position that we must start winding down our operations.
Our leadership team has been working tirelessly to reduce our costs and expand our access to inventory, so that we could compete more effectively, and implement prudent cost management in the current environment. However, despite our efforts and achievements, we are unable to overcome these challenges.
3. Are these decisions related to business performance?
Yes, we have been impacted by the unprecedented changes in the used automotive retail landscape over the last few years that resulted in significant challenges and competitive pressures for independent vehicle dealers. We have been significantly impacted by the scarcity of inventory and inflated prices stemming from disruptions in the supply chain. Elevated pricing and rising interest rates have further deteriorated conditions in the automotive retail market, weakening consumer demand and affordability. Industry headwinds coupled with the decreased affordability of used cars has put us in an incredibly difficult position that we must start winding down our operations.
4. Will there be layoffs as a result of this announcement?
Unfortunately, as part of the wind down process, we have had to make the difficult but necessary decision to eliminate all of the positions in our Company. For all of our associates, September 7, 2023 is the last official day of work at the Company. However, for most associates September 6, 2023 is their last physical day with the Company. A small transition team will be asked to continue to support Off Lease Only wind down for a temporary period beyond September 7, 2023, but these arrangements will ultimately be eliminated as well at the conclusion of the wind down.
5. How does this announcement impact day-to-day operations at Off Lease Only?
We have ceased sales operations and will be closed to the public effective immediately.
Dec 03, 202322:59
Outsourced BDC - is it worth the savings?

Outsourced BDC - is it worth the savings?

Outsourcing your BDC may initially seem like a great way to reduce expenses but outsourced teams are not going to be able to provide rapid responses to leads, calls, texts, and chats, manage your appointments, and follow up on actionable leads for your team. External BDC agents don't know your story or culture and might not handle every situation the way you'd like them to. Lack of CRM integration makes track-ability and reporting difficult. You have to rely on the statistics that the BDC gives you and trust they're correct. Before you outsource let’s talk. I have built more in house profitable BDCs than any other person in the USA. 708-733-5463
Dec 03, 202315:00
Appointment Driven Communications Part 2/2

Appointment Driven Communications Part 2/2

Appointment-Driven Communications is the phone training, talk-track and email/voicemail best practices course for anyone who wants to have success in an Appointment Culture in their dealership. If you’re a car salesman and you want to sell more cars at higher grosses, then you must become proficient at setting appointments that show and buy. If that describes you, then this course was designed specifically for you. If you’re ready for more call / text BDC Colin 708-733-5463

Nov 10, 202338:59
Risky Business
Sep 14, 202320:13
Appointment Driven Communications

Appointment Driven Communications

Appointment-Driven Communications is the phone training, talk-track and email/voicemail best practices course for anyone who wants to have success in an Appointment Culture in their dealership. If you’re a car salesman and you want to sell more cars at higher grosses, then you must become proficient at setting appointments that show and buy. If that describes you, then this course was designed specifically for you. If you’re ready for more call / text BDC Colin 708-733-5463
May 08, 202357:39
The five must haves for creating a successful automotive BDC

The five must haves for creating a successful automotive BDC

The five must haves for creating a successful automotive BDC. Contact Auto Pro USA at 708-RED-LINE
Apr 01, 202219:39