Auto Service World

NOVEMBER 16, 2024

Transparent financing practices can make a world of difference in easing their concerns, building loyalty, and establishing a reputation for fairness. This article dives into why transparency matters in auto repair financing. Unclear or misleading financing terms. For many, navigating repair costs is a stressful experience.

Finance 130

Finance Auto Repair Auto Repair Shop Vehicle 130

Tomorrow's Technician

DECEMBER 3, 2024

Over the history of the loan program, DOE has provided billions in financing for American EV manufacturing, including loans to General Motors and Tesla. Department of Energy’s Advanced Technology Vehicle Manufacturing (ATVM) loan program for a loan of up to $6.6 Phase 1 of the project is expected to start production in 2028.

Finance 130

Finance Manufacturing Technical Electric Vehicles 130

Solera

MARCH 18, 2024

As independent dealers hustling in a competitive market, you’ve probably faced the daunting challenge of getting solid financing. But fear not; we’re breaking down the why and offering game-changing strategies to help you level up your financing game. We get it – the struggle is real. They see volatility; you see innovation.

Finance 130

Finance Banking Software Management 130

AutoShopOwner

NOVEMBER 6, 2024

If this sounds like you, we have a solution to keep your finances on track! A well-organized Chart of Accounts (COA) is essential for navigating the complexities of your business's finances. A COA helps you make data-driven decisions for your finances because you have information on spending trends and profitability at your fingertips.

Auto Repair Shop 130

Auto Repair Shop Finance Auto Repair Insurance 130

Auto Service World

JANUARY 6, 2025

All Alliance executive leadership teams, including those in information technology, sales and marketing, category management and finance, will continue to report to Washbish. Washbish becomes the third CEO in the history of the Alliance, following his father, John R.

Finance 263

Finance Education Management Automotive 263

CATI

DECEMBER 26, 2024

You must manage finances, market your services, and ensure smooth day-to-day operations. The idea of starting your auto body shop is exciting. It offers the chance to combine your passion for vehicles with the independence of running your own business. Quality auto body training equips you with all the necessary technical skills for success.

Auto Body Shop 111

Auto Body Shop Technical IT Collision Repair 111

Auto Service World

MARCH 14, 2025

On the finance side, AI is being used to process invoicing, payments and credits more efficiently. So getting into AI is very daunting,” he said during the session, AI: Already a Reality in the Aftermarket To demystify AI, Funke stressed the importance of simplifying its concept. But AI really has been around for a long time.

Education 243

Education Finance Management Trucking 243

AutoFix

APRIL 10, 2025

Understanding how to adjust your business finances in 2025 as auto repair costs rise isnt just about survival. From higher parts prices to increased technician wages, the pressure on profit margins is realand its not going away anytime soon. So how do you stay ahead? Its about learning to adapt, improve, and thrive in a changing landscape.

Finance 52

Finance Auto Repair Auto Repair Shop Service Advisor 52

AutoShopOwner

MARCH 6, 2024

However, it’s not just our homes that can benefit – our finances can benefit from intentional tidying up and decluttering as well. In this blog post, we’re sharing 5 essential steps to spring clean your finances each and every year. In this blog post, we’re sharing 5 essential steps to spring clean your finances each and every year.

Finance 130

Finance Software Insurance IT 130

AutoShopOwner

MAY 22, 2024

Read on to see if your current business finances align with the long-term vision you have and what to do to help you plan for success. At the end of the day, sustainable business is key to long-term sustainable finances. As their business evolves over time, their vision may shift to reflect bigger goals.

Finance 130

Finance Insurance Management Education 130

AutoShopOwner

APRIL 2, 2025

Separate Business and Personal Finances: This is crucial. Tax Tip #2: Dont Be Afraid to Leverage Technology Technology is your best friend when it comes to efficiently managing the finances in your auto repair business. Its no secret that time is limited as an auto repair shop owner. labor, parts sales, diagnostics) and expenses (e.g.,

Auto Repair Shop 130

Auto Repair Shop Auto Repair Banking Finance 130

CATI

SEPTEMBER 28, 2023

The considerations are multifaceted, from fuel efficiency to safety features, financing options, and after-sales services. The Importance of Affordable Car Financing Options Affordability is a key concern for the majority of car buyers in Canada. One primary benefit of affordable financing options is expanding the customer base.

Finance 109

Finance Automotive Banking Car 109

AutoSuccess

MARCH 14, 2025

Here are the central themes and proposed actions outlined in the report: AI in Financial Services: AIs increasing adoption in areas like underwriting, fraud detection and customer service is modernizing auto finance operations. This approach not only ensures compliance but also fosters a culture of transparency and accountability.

Finance 40

Finance Management Customer Service IT 40

Tomorrow's Technician

NOVEMBER 26, 2024

billion from the Department of Energy Loan Programs Office, pending finalization of financing. EVgo announced it is expanding its partnership with Meijer, a Midwest grocery retailer, to enhance public fast-charging infrastructure at Meijer locations across Michigan, Illinois, Wisconsin, Indiana, Ohio and Kentucky.

Finance 130

Finance Retail IT 130

autoevolution

APRIL 18, 2024

On Wednesday, Tesla announced new financing options in the US and Europe as it tries to fight sluggish de. Tesla is overhauling its operations, affecting everything from the employees to the company's strategy. On Tuesday, Tesla removed all inventory discounts in the US, signaling the end of the price cut era. continue reading. )

Finance 105

Finance IT 105

autoevolution

MARCH 12, 2025

Specifically, the bank that financed Fisker Ocean purchases partnered with Rivian to buy back Fisker vehicles at a fair price. Now, they get an offer they can't refuse from JPMorgan Chase as part of a settlement process. Fisker sent shockwaves throughout the automotive markets when it filed for ( continue reading. )

Banking 96

Banking Finance Automotive Marketing Automotive 96

Tomorrow's Technician

NOVEMBER 26, 2024

billion from the Department of Energy Loan Programs Office, pending finalization of financing. EVgo announced it is expanding its partnership with Meijer, a Midwest grocery retailer, to enhance public fast-charging infrastructure at Meijer locations across Michigan, Illinois, Wisconsin, Indiana, Ohio and Kentucky.

Finance 130

Finance Retail IT 130

Automotive Training Centre

JANUARY 23, 2024

Finance Managers: Mastering the Financial Side of Auto Sales Finance managers handle the financial aspect of the sales process; they help clients obtain auto loans, explain complex financing choices, and carefully monitor paperwork to guarantee accuracy.

Service Advisor 260

Service Advisor Finance Auto Mechanic Training Management 260

Automotive Training Centre

OCTOBER 31, 2023

These loans can be arranged in two ways: Loans arranged through a dealer: Most dealers collaborate with a manufacturer’s financing division, banks, credit unions, or independent finance companies. Knowledge is power; the more information a customer has, the better equipped they are to choose the best financing route.

Automotive 278

Automotive Finance Banking Auto Mechanic Training 278

Auto Service World

DECEMBER 11, 2024

As the need for larger inventories grew, jobbers increasingly relied on credit facilities to finance stock expansion. Unfortunately, many jobbers ours included were not equipped to adapt to this level of change, lacking the necessary technology, talent and succession planning to respond effectively. In fact, in both Canada and the U.S.,

Finance 240

Finance Automotive Services Retail Engineering 240

Jalopnik

JANUARY 8, 2025

A federal judge in Georgia is ordering a bankrupt auto financing company to pay out $42.6 million in damages, restitution and penalties for violating the Consumer Financial Protection Act. It apparently carried out wrongful repossessions , over billing and other awful practices and scams. Sometimes car dealers cannot Read more.

Finance 54

Finance Car IT 54

Auto Service World

MARCH 4, 2025

Digital tools Cox Automotives research suggested that improved digital tools and advances in AI have revolutionized the car-buying experience, offering a more transparent view of pricing, financing details and inventory availability. Spending more time shopping and exploring products and deals can actually be enjoyable for consumers.

Car 130

Car Finance Vehicle Automotive 130

AutoSuccess

DECEMBER 23, 2024

Bob and Brian discuss APC s post-sale service contract program, which aims to offer service contracts to customers who either declined them during the finance process or are using the dealership’s service department without one.

Finance 98

Finance Vehicle IT 98

AutoShopOwner

NOVEMBER 19, 2024

Aside from keeping your finances neat and tidy, we also offer business consulting to help you boost revenue. At Three Rivers Bookkeeping, our auto repair shop clients have experienced significant financial improvements this year – and we’re raising a toast to them in this post! Here’s a look at what we’re thankful for in 2024.

Auto Repair Shop 130

Auto Repair Shop Auto Repair Service Advisor Finance 130

Automotive Training Centre

DECEMBER 12, 2023

Interest rates have reached their highest levels in years, increasing costs for consumers seeking financing for vehicle purchases. However, with these changes come challenges, particularly economic ones. Exceptional Customer Service In automotive sales, exceptional customer service isn’t just a luxury; it’s a necessity.

Automotive 288

Automotive Auto Mechanic Training Finance Media 288

Auto Service World

APRIL 15, 2025

Ways to pay will continue to be an area of growth, as higher demands will be put on auto repair shops to offer consumer credit options, easy monthly payment plans and affordable financing to help manage rising repair costs. How will the economy impact customer behaviour in 2025 compared to 2024?

Car 130

Car Auto Repair Shop Auto Repair Service Advisor 130

AutoShopOwner

DECEMBER 17, 2024

Why a Year-End Review is Critical A yearly review is essential for several reasons: You collect data to identify positive and negative patterns within your finances. If youre running a small automotive business, doing a year-end review gives you an accurate picture of your performance over the past twelve months. What went well this year?

Finance 130

Finance Automotive IT 130

Auto Service World

JUNE 18, 2024

The 2024 report provides a comprehensive, data-driven analysis of the current market, including consumer buying attitudes, financing trends and detailed vehicle comparisons. Cars.com has released its second annual Affordability Report, highlighting a more accessible retail environment for car buyers.

Finance 147

Finance Retail Vehicle Car 147

AutoSuccess

MARCH 19, 2025

According to Experians State of the Automotive Finance Market Report: Q4 2024 , more than 50% of new EV purchases were leases, and EVs accounted for nearly 20% of all new vehicle leases during the quarter. Expanding beyond the EV market, the report showed more financing is comprised of late-model vehicles (model years up to three years old).

Finance 52

Finance Banking Vehicle Electric Vehicles 52

Auto Service World

APRIL 22, 2025

For instance, under the federal Competition Act, forcing financing could be considered tied selling , which is generally prohibited by law. However, automotive businesses must meet certain conditions, such as considerably lessening market competition. In most cases, the next step is to contact the customer. Also, it will charge penalties.

Automotive 130

Automotive Finance Vehicle Insurance 130

AutoSuccess

NOVEMBER 26, 2024

Personalization and Customization: Texts can be tailored to a customer’s specific interests using data-driven insights, such as updates on a specific vehicle model or financing options. This immediacy makes it ideal for initiating contact with potential customers. This personalized approach makes communications more relevant and engaging.

Finance 95

Finance Car Dealership Management Automotive 95

AutoShopOwner

FEBRUARY 19, 2025

Cloud-based accounting software can be a lifesaver here, making it easy to track your finances and generate reports. Hey, auto repair shop owners! With January behind us, it means one thing is coming down the pike: tax season. Keeping your taxes in order is like keeping your shop organized.

Auto Repair Shop 130

Auto Repair Shop Auto Repair Software Finance 130

Auto Remarketing

JANUARY 8, 2025

Revolutionizing subprime auto finance For businesses involved in subprime auto financing, blockchain offers transformative potential: Improve credit scoring: Decentralized data can help create more accurate and dynamic credit profiles, enabling lenders to better assess risk and potentially increasing access to financing for underserved populations.

Automotive 52

Automotive Finance Consulting Education 52

autoevolution

APRIL 15, 2024

You're probably a bit tired of hearing about revolutionary aircraft designs being in the works, and also a bit disappointed that many of these projects usually fail, just like the startups behind them, long before they can actually take off. I'm not sure how many of you heard about. continue reading. )

Finance 105

Finance IT 105

AutoShopOwner

JANUARY 29, 2025

Separating your business and personal finances is crucial. As we kick off 2025, its a great time for you, an auto repair shop owner, to focus on financial organization, especially with tax season just around the corner. Its best practice to keep all invoices and receipts organized by vendor and date.

Banking 130

Banking Auto Repair Shop Finance Auto Repair 130

AutoSuccess

DECEMBER 4, 2024

You realize the potential buyer has no credit history, so you conclude that they have no chance of being able to finance the car. While it’s been common practice to prejudge and dismiss someone who appears unlikely to secure financing, it can needlessly cost your dealership the sales it needs to meet its goals.

Finance 52

Finance Education Retail Car 52

Auto Service World

MARCH 20, 2025

Historically, the automotive service industry demonstrates an inverse relationship with economic conditions: In prosperous times, new vehicle sales increase, reducing the average vehicle age and lease/finance turnovers, which dampens service revenue growth. However, this cycle has been atypical. For example, Monro, Inc., reported a 6.4

Automotive Services 130

Automotive Services Retail Automotive Mechanic 130