June 13, 2016 - The key to driving growth is product development -- what's sold and how, said Larry Pomarico, senior vice president of sales for SouthWest Dealer Services. The digital menu presentation is becoming more sophisticated and customizable, he said. And with loan terms stretching as far as 84 months, customers are recognizing the value of F&I products that protect the vehicle. "The days of the backyard mechanic are behind us," Pomarico said.
In The News
May 31
June 1, 2016 - Use features, not names, to describe F&I products, advises Peter Velau of SouthWest Dealer Services. Offering an extended service contract often “elicits an automatic, kneejerk, negative reaction,” he says. Focus instead on what the product does. For example, tell customers that toward the end of the finance contract, when the vehicle may be in need of repair, the service plan will pay 100 percent of the cost of parts and labor.
May 10
May 11, 2016 - Explain F&I products with visuals, suggests Peter Velau of SouthWest Dealer Services. “We need to be able to get our point across clearly, concisely and, more importantly, quickly,” he said. Customers will understand GAP more quickly with an illustration that shows what they owe, what their insurance company will pay and the deductible.
May 2
Leading Full-Service F&I Provider Acquires UIG in Chicago and ODM in Seattle
Irvine, CA, May 3, 2016 – SouthWest Dealer Services (SWDS), a leading independent full- service provider of hardware, finance and insurance (F&I) products and training services to auto dealers in the United States, has acquired Chicago-based United Insurance Group (UIG) and Seattle-based Olympic Dealer Marketing (ODM). These acquisitions are part of the company’s strategic plan to expand its financial footprint and expand as a leader in the automotive retail industry.
Oct 8
October 09, 2015 - Ken Shubin Stein is the chairman of Spencer Capital Holdings and the founder and portfolio manager of Spencer Capital Management. As the force behind recent acquisitions within the industry, many have been curious about what they have in store going forward. Shubin Stein discusses the company’s philosophy and process that led them to where they are today, as well as what they see for the future.
Sep 30
September 30, 2015 - The acquisition of SWDS is immediately accretive to Spencer Capital and is complementary to its existing portfolio of companies. The financial and operational support of Spencer Capital will provide SWDS with the opportunity to grow its presence and expand its client capabilities, while maintaining its autonomy. Dealers are expected to significantly benefit due to increased and efficient access to products and services across the Spencer platform, notably from Spencer Re, a reinsurance firm, and USA Risk, an independent captive insurance provider.
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