Compare the Value of using Lease & Loan Master vs. an old outdated system or going without.
We compiled these estimates as a result of a survey distributed to hundreds of Automobile Dealers in a 5 year period

With Lease & Loan Master Using a bad F&I System

Without any system

Time: The average transaction can be completed within 15 minutes, from the quoting of payment terms and fees to the completion of all documents and agreements.

A bad F&I System could extend the time by not completing some of the forms, by crashing the pc requiring a reboot or by loosing entered information, a bad F&I could take up to 75 minutes to complete a single deal

Completing a form by hand or typewriter can lead to lengthy re-writes since most lenders will not accept corrected copies, many consumers walk away from a deal when the wait is too long.

15 minutes/deal 75 minutes/deal 2 hours/deal
Front End Gross: The ability to generate multiple quick quotes and save them in working files, being able to calculate all cash, finance and lease scenarios, retrieving live inventory with up to date equipment and repair orders can raise the front end from 200 to 2000 dollars A bad F&I will restrict your ability to calculate the new type of loans and leases, you end up having to guess what the terms will be on zero apr, biweekly or balloon payment loans at a cost. Or restrict your transactions to the type your old system can handle, limiting your gross potential by up to 50% Simple cash deals can be calculated on a 10 key calculator, but the complexity of taxes, fees and finance charges, with the added chance for errors in the totals can severely affect your bottom line, with the added risk of having to unwind a badly calculated contract.
2000.00 front gross 1000.00 front gross 1000.00 front gross
Trade-in calculations: The way some States credit Taxes when trade-in vehicles are involved plus the added complication of calculating pay-off and balancing negative equity are all automatic on the lease and loan master, even the difference between real value and negotiated allowances is controlled so deal profitability can be protected and even enhanced, the average trade-in can contribute 500.00 to a transaction. An outdated system can hurt trade-in taking to the point some have to treat it as a separate transaction with a high tax consequence, pay-off miscalculations can cause the entire sale to become a sour deal for all involved, with a bad system dealers try to avoid complicated trades loosing the profit potential and sometimes costing the sale. Without a pc system, everything becomes an estimate, weekend business is held until monday and many end up asking the banks to do the calculations for them, but the wasted time and unwillingness to make changes becomes very expensive, most trade-in deals are avoided or cause no profit at all.
500.00 trade under allowance 0 trade u/a 0 trade u/a
After Market Sales: With Menu Selling and an extensive list of tools to sell everything from LA&H Insurance, service contracts gap coverage and paint protection to alarms and other items, the Lease and Loan Master ensure market penetration, but the best feature is the ability to quickly print out the contracts for these items and closing the sale the instant the customer considers accepting them. Aftermarket profit can easily top $1000.00 An outdated system is probably limited to extended service contracts and can make costly errors in insurance calculations. The new products introduced have lengthy forms and documents that end up being avoided by a F&I rep in a hurry, this lowers aftermarket sales to one half of its potential. The only time any aftermarket is sold, when doing the sale by hand is if the customer asks for it and is willing to complete his own forms, since the dealer probably has already completed the sales contract before the customer arrives, there is simply no interest in re-writing it to add gap or sealants, many dealers end up throwing in the item at no charge to avoid rewriting the forms, costing the deal up to 400.
1000.00 After Market 500.00 After Market -400.00 Last minute throw in.
Credit Applications: Lease and Loan Master includes complete credit applications, all relevant information is kept ready to type a complete application for any lender, so with a single entry of data you can complete various app's as needed to obtain lender acceptance, changes and corrections don't end up resulting in illegible crossed over forms, lenders appreciate the clarity and look forward to receiving your business Old systems only offer quick app's or are locked into automated systems belonging to a single lender limiting the market for lower rates or greater rate participation, the loss of treating customers as numbers without the help a good credit application can provide can cost in lower sales volume. Many defend the old ways of filling an application by hand for the benefits of being able to word in the information that may help a lender accept an applicant with a low credit score, but the effort is lost the minute a new application is required for the next lender choice and correcting mistakes results in unsightly applications.
1000.00 Rate Participation 300.00 Rate Participation 0 Rate Participation
Prompt Funding: Occurs when all documents are completed correctly and calculations are exact, Prompt Funding can make the difference between staying in business and closing your doors. With the added Funding reminder included with the Lease and Loan Master you get a notice to call for your money after a specific number of days. A bad F&I system, has no funding reminders and possibly can cause delay's in receiving your money when calculations are inaccurate and re-writes are required. Cold feet customers may be unwilling to sign new contracts and end up returning the vehicle and unwinding the sale. You can use post-it notes to remind yourself of a required funding but have no way of keeping up or avoiding a loss of money when a piece of paper is misplaced. Additionally there is no way to verify the accuracy of the funding, leaving you at the mercy of the lender.
0 loss from delayed funding 200 loss from delayed funding 500 loss from delayed funding
Prospecting and follow up: Is easy with the Lease and Loan Master, with separate storage of prospects, working and sold deals, with mass mailers, and calendar reminders you can keep in touch with prospects, and with the phonebook you can retrieve a deal from the caller id of an old customer, and "remember" them . Older systems have difficulty keeping up with the amount of information you should have on prospects and clients, they are slow and have many requirements that make them frustrating to use. Paper planners and memory is all you have, limiting your ability to get new customers or keep old ones happy.
Average Total: 4500 in 15 minutes Average Total: 1600 in 75 minutes Average Total: 100 in 2 hours