Week Two Training

An Introduction to Dealer Center

Dealer Center gives you the ability to run your entire dealership from one program. I go through a basic run down of the key components that are used most frequently. It is the car dealer software solution we will be using that enables you to manage, sell and advertise your vehicle inventory. We get instant approvals for financing through this platform. We can then shop the deal to multiple lenders through Dealer Track in order to see which one gives us the most attractive advance for the deal. All dealer forms and paperwork are printed on this software along with checking customers credit and booking out the wholesale and retail value of a vehicle

An Introduction to Dealer Track

In this tutorial, I am going to introduce you to Dealer Track and show you how to submit a deal to multiple lenders simultaneously in order to see which lender will give you the most money for it. Some banks will offer you more, some less. You want to establish a relationship with multiple banks because different banks do things differently. Certain banks require certain stipulations when others don’t. They will all send you different types of approvals. For example one bank may say in order to approve this deal we will need proof of cell phone and another may not need that. If the customer can’t prove they have a cell phone you’ll have to go with the bank that doesn’t require that as a stipulation.

 

Adding Service Contracts into Westlake Deals through Dealer Center

Westlake allows you to make a nice back end profit with Dealer Center by adding in a service contract. Make sure you preload your finance deals for now on with a service contract and your customers will thank you for it.

How to Expedite the Post Sale Verification Process

After the paperwork has been completed and sent off to the lender, they will call and verify employment, references, and conduct a customer interview. Make sure to help out if the lender is having trouble getting a hold of the customer through this process. The longer the verification process takes, the longer it will take for you to get paid. You can provide the customer with a phone and reference number to call in to expedite the process.


Dealer Forms & DMV Paperwork

I am going to explain to you all of the necessary forms you will need to retail used cars. Remember, all states do things differently so I am going to give you a general explanation. We will be running down the paperwork you will need to do in order to transfer ownership of the vehicle you are selling. There are also certain disclosure forms and arbitration causes you will need in order to protect your business from any and all liability. I am going to show you the type of software that I use and do finance deals on and the printer you will need in order to print the paperwork. Will also go through the registration process, how to figure out what to charge the customer to renew the registration on the vehicle. Will find out if there are any penalties or problems on a vehicle we are taking in on trade, and how to make the whole registration process fast and convenient.