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.
In The News
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.
Mar 31
March 31, 2007 - “He wants to make sure the customer has a great experience and that they receive quality protection for their money. I find that to be unique in the market,” says Will Babin, a trainer with SouthWest Dealer Services, which conducts compliance training for Tuttle-Click. “ He’s one of the dealers that will actually demand 100-percent perfect compliance while also expecting performance.”
Babin says Click seems to have what every dealer wants: good profitability, compliance, historically low turnover and minimal chargebacks. But there’s a good reason for that, Babin adds.
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