Credit availability for subprime customers is still low, but the well is not dry. In fact, there are signs that special finance is making a comeback, with the bankruptcy niche leading the way. Finance sources with an established history in the bankruptcy segment know the payoff is worth the risk. They know those consumers will [...]

By Steve Finlay
WardsAuto.com, Dec 3

ORLANDO – Not yet out of the hospital, subprime auto financing at least has left the intensive-care unit.
The credit crunch that hit in 2008 hurt virtually all levels of financing. Subprime suffered the most, making it tough for people with low credit scores to get car loans.
But so-called special financing “is [...]

How do you market to clients with a big tax refund burning a hole in their pockets? How do you get to them before they mentally or physically spend the money?
Well, there are several approaches that work well. One is to get their attention during the filing process itself. This can be done several ways.
Signing [...]

It’s almost that time of year and no I don’t mean Christmas. I mean the time of year that helps car people all across America pay off those credit card bills they accumulate during Christmas. Tax season is upon us and it is greatly needed after the tough financial year that has been 2009.
I have [...]

Repossessing a vehicle is never a good thing, but technology has certainly come a long way in helping dealers do just that. The Special Finance Coach discusses how to keep customers on time with their payments, as well as how social networking sites like Facebook can help when they’re not.
Contrary to popular belief, repossessing a [...]

Men are notorious for refusing to pull over and ask for directions. GPS navigation units have helped this road warrior avoid the issue altogether. But on the road to the sale, I ask for directions from every customer I meet. If I didn’t, I’d never reach my destination.
In my training sessions, I stress developing a [...]

Dealers are looking everywhere they can to find profits to boost their bottom lines and return to profitability, and special finance is going to play a huge part in achieving that goal. With the limited number of funding sources, booking deals for credit-challenged customers has become harder, even as that sector continues
to grow. To really [...]

In my training, I always talk to special finance personnel about not stereotyping special finance customers. I stress for them to always remember at least one customer that they helped get financing when they were in a bad spot in their lives that was due to circumstances beyond their control. It helps to make the [...]

ALEXANDRIA, Va. — The total number of U.S. bankruptcies continued on an upward track according to data shared by the American Bankruptcy Institute.
During the first three months of this year, ABI reported a 34.5-percent jump in bankruptcies as compared to the first quarter of 2008. Data ABI received from the Administrative Office of the U.S. Courts noted [...]

Special Finance Coach Launches Radio Show
May 28, 2009
HOUSTON — SpecialFinanceCoach.com founder and trainer Rob Hagen has launched Coach’s Talk, a weekly, one-hour, call-in radio show. Offered via Blog Talk Radio, dealers can listen live via the Internet each Thursday at 1 p.m. ET or download archived episodes.
“In this economy, dealers have had to reduce their training [...]