MySpace - 300 friends and growing strong!!!
bookmark the Fantastic Spotty's MySpace:
http://home.myspace.com/index.cfm?fuseaction=user
Wednesday, May 14, 2008
A College Degree is important to achieving real success in life. Now is better than later. Research online colleges if you cannot take the time from job and family to attend a "brick and morter" university.
Better yourself today. Reading the posts on the Finance Blog will increase specialized knowledge but to really succeed, you must increase your general knowledge. Work toward getting your college degree today.
http://www.MyAssociatesDegree.blogspot.com
Saturday, March 1, 2008
The Credit Restoration Factory
Automotive Finance F&I Insurance:
The Credit Restoration Factory exists to help restore good credit to good people. We employ a team of prior mortgage loan officers and automotive finance managers with years of loan approval experience.
Together, we have created the Credit Restoration System. The system is tailored to the individual needs of each client and the results of our personal touch will amaze you at the speed with which your credit will become "good" again.
I just left the dealership where I was approved for my first new car and got a low interest rate. Thank you Credit Restoration Factory!
Our CommitmentAt the Credit Restoration Factory, we treat our clients with courtesy and integrity. We guarantee a taylored, realistic, credit repair plan and honest financial advice that will achieve results. We will lead you on a course to financial freedom. Our consistent track record of uncompromising ethics instills confidence and trust.
We use personalized cutting edge technologies to help remove negative items from our client's credit reports. Along with sound financial advice, our goal of restoring our clients good credit and keeping it restored will become a reality.
Email to: CreditRestorationFactory@yahoo.com
Wednesday, February 6, 2008
Small bump in credit score could mean a cheaper loan
Bob Tedeschi, New York Times
When lenders issued mortgages to anyone who asked, borrowers could largely ignore their credit scores, the most important and most incomprehensible determinant of a loan's interest rate.
But now that banks have tightened their lending standards considerably, borrowers must sometimes search for ways to eke out a point or two more on their credit scores to qualify for loans or for more favorable rates. Mortgage professionals say that some knowledge about the scoring system helps.
"Sometimes, I'll tell borrowers their score, and they'll start yelling at me," said Debra Killian, president of the Charter Oak Lending Group, a mortgage broker and lender in Danbury, Conn., who teaches courses on the credit-reporting industry. "And I have to explain I'm not the one who's generated the score."
The reports come from Experian, Equifax and TransUnion, credit bureaus that evaluate the financial-management abilities of millions of Americans.
Credit-card companies, utilities and other creditors send reports to the bureaus, which rely on software from the Fair Isaac Corp. (creator of the FICO score), along with their own, to grade a borrower on an ascending scale of 300 to 850.
The software is a black box of sorts, whose workings are known only to the companies involved. Each credit bureau will weigh certain factors differently - the number of late payments, for example, or the number of credit-card accounts open.
To account for those differences during the mortgage application process, loan officers review the scores from all three credit bureaus and base their loan offers on the middle number. If a couple - married or not - is jointly applying for a mortgage, the loan officer will choose the middle score of the partner with the lower score.
That score essentially dictates the loan terms that a lender offers. For instance, a borrower with a credit score of 699 will often get a higher interest rate than a borrower with a score of 700. And the higher the interest rate, the bigger the broker's commission from the lender, known in the industry as a yield-spread premium.
That is why, mortgage executives said, borrowers should be proactive about this part of the mortgage process. Killian of Charter Oak said borrowers should ask the broker or lender to explain how their score changes the terms of the transaction.
Brokers buy reports from services that supply data from the three credit bureaus, and each report gives details about items that adversely affect a score.
If a consumer wishes to challenge such items, credit bureaus will do so on the consumer's behalf, or consumers can also call or write creditors directly. Credit-repair services can also help, although people should review their terms carefully because they are popular fronts for scam artists.
This article appeared on page K - 9 of the San Francisco Chronicle
Friday, January 4, 2008
Dealership Sales Methodology
Dealership Sales Methodology
by Arzu Algan
People love cars and the decision-making process: the model, equipment, color and so forth. They take pride in the possession of a new car. What they generally don’t like is the experience of shopping for a new car. They often feel manipulated and mismanaged. Regardless of the deal they negotiated, there is always the feeling they could have done better, or that they were “taken.” Many are convinced that an undercurrent of dishonesty runs through the retail automotive business.
The basics of the automotive sales process are well known. First you advertise to get people in the door. As soon as they are on the premises, you determine the model that interests them and explain the product highlights. While conducting this walk-around presentation, you point out the performance, safety and comfort features. After a test-drive around the neighborhood, you get down to the basics of making the deal: checking and appraising any trade, presenting your first offer at pricing, and taking a deal to management (or sometimes taking management to the deal). With offers, counter-offers and negotiations complete, it’s time to talk financing. After presenting the other dealer services, an F&I (Finance and Insurance) manager calculates the financing, rate and monthly payments. By the time the customer picks up the new car, the salesperson is already focused on the next customer.
That’s the way cars and trucks have been sold for more than 70 years. Today’s consumers require better service, professional qualities and excellent product knowledge. The only way to guarantee an enjoyable shopping experience for your customers is to follow a sales process that is firmly grounded in meeting customer needs and exceeding their expectations:
Attract new customers without relying merely on price-oriented advertising.
Welcome the prospective buyer and establish a relationship, removing the customer’s apprehensions about the process of shopping for a new car.
Determine your customer’s needs, then target your presentation of product features and benefits to meet those needs.
View the delivery process as the beginning of a productive relationship – not the end of the sales process.
These procedures not only help turn prospects into buyers, but set the stage for long-term customer relationships that result in both repeat and referral sales. Today the customer cannot be manipulated by old-fashioned, high-pressure sales techniques. Instead, their needs must be identified through communication.
The same rules apply to the transaction in the Finance Office: customers expect the open communication, respectful treatment, and superior product knowledge they experienced on the sales floor to continue while they meet with the F&I Manager. Should this expectation be disappointed, the customer is likely to abandon the transaction all together.
In the past, F&I Mangers and salespeople alike may have spent 10 percent of the time building rapport with the customer, 30 percent presenting products and 60 percent closing the deal. Nowadays successful F&I personnel and salespeople invest 50 percent of the time building rapport, 40 percent presenting products and dealer services, with the remaining 10 percent usually more than enough to close the deal. Today’s focus is on the relationship between the customer and the dealership personnel, rather than just the mechanics of the deal.
Friday, December 21, 2007
Subscribe to:
Posts (Atom)
