The gap between regular and special finance is quickly narrowing resulting in a new dilemma for dealers and general managers. Today the gap between traditional and special finance customers is very narrow and requires a different type of manager.
Special finance is no longer a stepchild in dealerships.
During the 90's it was convenient for dealerships to promote good sales persons to this department because most special finance customers were not well informed about available lenders. Entering the year 2000 consumers are more educated and have choices in the lending arena. Special finance managers must be professional, customer service oriented, detail driven and empathetic to credit impaired customers needs. Part 1 addresses the traits shared by successful special finance managers, selecting the best candidate, pay plans for success and reengineering the special finance department for growth. This track is designed to assist dealers prepare for the changing world of special finance by identifying, selecting and managing candidates properly.