• Finance and Insurance - Prime and Nonprime
• F&I Menu Presentation Process
• Creation and Management of the Dealership Internet Department
• Retail Installment Sales Contracts
• Consumer Leasing, Lease Agreements
• Collecting, Analyzing and Evaluating Credit Information
• Legal Compliance - Privacy Rule, Safeguards Rule, Cash Purchases, etc.
• Credit Insurance and Related Products
• Ethics for Automotive Financial Professionals

Among the contributors was Dr. Robert W. Serum, CEO of the Center for International Retail Automotive Standards (CIRAS) and former Vice President of Academics and International Programs at Northwood University, Thomas Hudson, senior partner at Hudson Cook, LLC and author of CARLAW, and ADI’s Alan Algan and Arzu Algan. 

The e-book edition of the Encyclopedia offers several user-friendly features, including an electronic table of contents and electronic bookmarks for easy navigation. “We wanted to make it accessible to all F&I professionals, not just upper management,” reports Alan Algan, CEO and Executive Director of the Automotive Dealership Institute, “We’ve always believed in the importance of ongoing education – it’s the only way to raise the standards for our industry.” 

The e-book will be available August 5, 2008.  For details, call (877) 998-7200 or visit http://www.autodealerinstitute.com/finance-insurance/encyclopedia.php

The Automotive Dealership Institute is a Scottsdale, Ariz.-based automotive management school that specializes in educating the next generation of Finance and Insurance managers and service advisors.  ADI is licensed by the State of Arizona Board for Private Postsecondary Education and approved by the Arizona Department of Education.  For information, visit www.autodealerinstitute.com, or call (877)998-7200. 

Under the direction of Northwood University’s retired Vice President of Academics and International Programs, Prof. Robert W. Serum, PhD., CIRAS has assembled a team of respected automotive specialists from around the world.  “CIRAS is not the usual training or teaching facility,” stresses Dr. Serum, “We fully recognize the contributions made by the many excellent educational institutions now serving the automotive industry.” 

Instead, CIRAS’s multi-media, web-based “content reviews” and certifications are designed to complement a candidate’s existing work experience or education, according to CEO Dr. Serum.  Candidates who pass the exam will receive a certification from CIRAS, as well as a two-year professional membership in this prestigious organization.  This certification comes with professional designation, which can be noted on the member’s business card next to their name.  For example, candidates who successfully pass the F&I certification exam would earn the designation C.F.P. – Certified Finance Professional.

At the end of the two-year membership term, candidates will be able to re-certify at a special discount, provided the re-certification occurs within 60 days of membership expiration.  Candidates have the option to skip the certification reviews and go directly to the exam, if they feel their experience or training has sufficiently prepared them to do so.

It was the underlying philosophy of CIRAS that prompted the need for re-certification.  “This is a dynamic industry,” says Dr. Serum, “So it is important for professionals to re-establish their expertise periodically.” 

The ability to remain at the vanguard of industry standards often determines the success or failure of a venture.  “Dealers do their finance and insurance business in a hostile legal and regulatory environment,” says Thomas B. Hudson of Hudson Cook, LLP, content provider for the legal compliance portion of CIRAS’s F&I certification and CIRAS Advisory Board Member.  “Training dealer personnel to understand that environment can mean the difference between good business and class action lawsuits,” he reports.

The content of each certification area was designed by a team of experts in each respective area.  For example, the certification for F&I Managers includes content from Arzu Algan of the Automotive Dealership Institute, and Tom Hudson and Emily Marlow Beck of Hudson Cook, LLP.  Other key members include Joseph Lescota, Chair of Automotive Marketing at Northwood University, who prepared and presented the Sales Associate and Used Car Management certifications, and Jim Schalberg, head of the Auto Rental Board of Standards, who prepared and presented the Rental Car Risk Assessment certification. 

The certification exams cover a wide variety of key positions, including Sales Associate, F&I Manager, Service Writer, Used Car Manager, Rental Car Manager, and a CSI  review designed for personnel at all levels of the dealership. CIRAS will offer two of its certifications - the F&I certification and the CSI certification – at the 2008 F&I Conference.  These workshops will be facilitated by Dr. Robert Serum, CEO and President of CIRAS.  Certification presenters will include Dr. David E. Fry (President & CEO emeritus, Northwood University), Thomas B. Hudson (Managing Partner, Hudson Cook, LLP, and Principal of CounselorLibrary.com),  Emily Marlow Beck (Partner, Hudson Cook, LLP), Arzu Algan (CFO and Dean of Education, Automotive Dealership Institute), and Marguerite Watanabe (Director of International Programs, Automotive Dealership Institute and Principal of Connections Insight). 

Registered attendees will be able to take advantage of a special, deeply discounted price.  Participants will receive four full months of free access to CIRAS’s online certification review, allowing them to train and retrain at their convenience; the certification comes with a two-year membership in CIRAS.  F&I certification participants will also receive a complimentary copy of CarLaw: F&I Legal Desk Book from CounselorLibrary.com, and a free 6-month subscription to Spot Delivery, a monthly legal newsletter for motor vehicle dealers.  Upon successful completion of the certification review, participants will be awarded a C.F.P. or C.S.P. designation, which can be displayed on their business card.

CIRAS will be available on the web starting September 18, 2008, at www.ciras.org. However, many of the certification areas will be showcased at various industry forums prior to the official launch at the 2008 F&I Management & Technology Conference in Las Vegas.  For more information, please visit www.fi-conference.com. 

The Automotive Dealership Institute’s recent Automotive Lending Workshop in Kuala Lumpur, Malaysia, drew high-ranking financial executives from 11 banks throughout Southeast Asia and the Middle East.  Entitled Creating a Competitive Advantage in the Auto Financing Market for Tomorrow, was ADI’s fourth international automotive finance workshop for The Banking Academy, a subsidiary of The Asian Banker.  Participants hailed from Malaysia, Thailand, Indonesia, Brunei, Singapore, Philippines, Kuwait, Qatar, United Arab Emirates, and Saudi Arabia.  A diploma was awarded to every participant upon successful completion of the three-day intensive program. 

The workshop was led by ADI’s Director of International Programs, Professor Marguerite Watanabe.  Drawing on her extensive experience in automotive finance, Prof. Watanabe identified the trends, challenges and opportunities in today’s automotive finance arena.  Participants were given a comprehensive understanding of best practices in sales, marketing and operations, as well as a thorough overview of risk management and other key success factors.

With such a diverse audience, the focus on international best practices and strategies was of the utmost importance.  Attendees also participated in numerous interactive roundtable sessions, during which bank and country-specific business were explored.  For many participants, this spirit of international cooperation was one of the most rewarding aspects of the workshop.  “While we discovered many differences among our countries, we also found that there are just as many similarities,” recalls Yasser Kashkash, head of the Automotive Finance Leasing Division at National Commerce Bank of UAE, “The discovery process was incredibly worthwhile for me personally and professionally.”

In light of the overwhelming response, the Banking Academy has already requested additional workshops from ADI, the first of which will take place in Dubai this November.  This is thanks to the large number of Middle Eastern countries represented at this latest program.  A second workshop, to be held in Bangkok, Thailand, is slated for early next Spring.  However, several of the participants in this latest ADI-Banking Academy workshop, anxious to hone their competitive edge in the international marketplace, have requested private in-house consultations at their banks with Professor Watanabe and ADI’s Dean of Education, Arzu Algan. Preliminary agreements are already in place for consultations in Abu Dhabi (UAE) and Bodrum (Turkey). 

“This was the first Asian Banker workshop to have such a diverse Middle Eastern presence,” reports Prof. Watanabe, “It made the participants’ exchange of ideas especially fascinating.”     

“I truly believe it is always important to get this outside view in order to grow and prosper as a business,” says Bindu Nair, Chief Credit Policy Officer at Abu Dhabi Commercial Bank, “This session was very valuable in allowing me to study the trends of the industry and lean new ways of improving my business.” 

Based in Scottsdale, Arizona, the Automotive Dealership Institute is renowned for its innovative automotive management training programs.  Offering both in-class and web-based distance learning courses, ADI is dedicated to educating the next generation of Finance and Insurance Managers and Service Advisors.  ADI is licensed by the State of Arizona Board for Private Postsecondary Education and is approved by the Arizona Department of education.  For more information, call (877) 998-7200. 

The Banking Academy educates financial service professionals from around the world.  Boasting an international teaching staff, The Banking Academy enjoys a vibrant professional alliance with The Asian Banker’s research branch.  Course descriptions and other information are available at www.thebankingacademy.com.   

“We work with hundreds of dealerships around the country, and we considered many of them when it came time to choose our nominee,” reports Alan Algan, Executive Director and CEO of the Automotive Dealership Institute, “but Michael Crawford has transformed Peoria Kia into a textbook example of a perfect dealership: ethical, respectful of every customer, and incredibly successful.”

Much of Crawford’s success stems from his core values. “I think a lot of GMs and dealer principals lose sight of the human element in the equation – and I’m talking about customers and staff,” he says, “My heartfelt desire is to see people treated the way they deserve to be treated.”

Crawford helps bring his heart’s desire to fruition by personally interacting with every single customer who visits the lot. On the rare occasion when Crawford isn’t on-site, he calls every customer from his cell phone, not to close a sale, but to ensure that every customer leaves the dealership with no less than 100% satisfaction in the way they were treated.

However, Mr. Crawford is the first to admit that the ethical practices he advocates must be embraced by every member of his team. “I’m very hands-on,” he admits, “but I’m a firm believer in support people. You can’t get to the next level without the right team.” Crawford believes his ability to consistently “get to the next level” is thanks, in large part, to the specialized education available to professionals in the automotive industry. “The right training can make an F&I superstar,” he says. He points to two of his employees, ADI graduates Buddy Bishop and Jimmy Valentine, as proof of this theory.

“I’m very grateful for my success,” he says, “and ADI has been instrumental in helping me achieve it.”

Mr. Crawford remains active in numerous charitable organizations throughout the community, often organizing events at great personal expense and effort. Crawford’s passionate advocacy stems from his own first-hand knowledge of overcoming economic hardship. “I’m a street kid from North Kansas City, Missouri,” he says, “I’m one of those statistics that wasn’t supposed to succeed.”

GMAC Insurance has selected the Automotive Dealership Institute’s Dean of Education Arzu Algan to contribute to it’s Front-End Operation Supplement. In this Supplement GMAC features it’s plans for the upcoming year as well as addresses tips on how to improve Front-End operations.

Dean Algan’s article focuses primarily on helping eliminate the disconnect between the Sales team and the F&I department. She includes specific tips on how to transition the customers as well as methods to optimize the work flow between the two departments.

These articles were first featured on ADI’s F&I Tips blog in a three part series:

• F&I Desk Integration Part 1: Working with the Sales Department
• F&I Desk Integration Part 2: Transition Approaches
• F&I Desk Integration Part 3: Cooperation

You can also download this article specifically from the GMAC Front-End Operation Supplement Here

Ms. Chernek’s clients, who include some of the country’s most successful automotive agents and dealers, will enjoy the added benefit of four months of access to ADI’s online program. This will allow employees to create independent “refresher” courses for themselves, focusing on specific topics. This open accessibility is a unique feature of CCI’s already extensive services, and isn’t offered through any other consultant in the country.

The decision to integrate ADI’s online program into CCI’s training appears to have been an easy one. “CCI has been trying to secure the exclusive rights to ADI’s online program for over a year now,” says Ms. Chernek, “We’ve been tremendously impressed with ADI’s track record, and their online program definitely meets the standard of excellence the automotive industry has come to expect from ADI. It’s highly interactive, and really makes great use of a wide variety of media. CCI’s workshops are high-energy, so it’s a good match.”

Furthermore, Ms. Chernek will act as sole agent to ADI, promoting the schools products and services. Never before has the Automotive Dealership Institute appointed someone to this position. “We’re very discriminative when it comes to choosing partners,” admits Alan Algan, ADI’s Executive Director and CEO, “We get approached by other training companies on a regular basis, and, up until now, we have always declined such deals. We spent years looking at all the different consulting agencies before endorsing CCI.”

As part of this agreement, Ms. Chernek will conduct all of ADI’s dealership-exclusive workshops. “I’m very proud to have been named a professor at ADI,” says Ms. Chernek, “I know that very few people earn ADI’s endorsement.”

The next of Ms. Chernek’s dealership-exclusive workshops, entitled Closing Tools and Increasing F&I Revenue, will be held May 20-22 at ADI’s Scottsdale, Arizona, campus. Seating will be limited, so early registration is recommended. Details are available at http://www.autodealerinstitute.com/training-workshops/.

Rebecca D. Chernek is the president of Chernek Consulting, Inc., a nationally acclaimed dealership consulting firm. Ms. Chernek has an extensive automotive background that spans over twenty years. Since 1997, she has helped hundreds of dealerships and franchises increase profitability with her in-store consultations and specialized workshops. For more information, call 1-877-730-3663 or visit www.chernekconsulting.com.

Based in Scottsdale, Arizona, the Automotive Dealership Institute is a global leader in automotive management education. Offering both in-class and web-based distance learning courses, ADI is dedicated to educating the next generation of Finance and Insurance Managers and Service Advisors. For more information, call (877) 998-7200 or visit www.autodealerinstitute.com.

“Initially, we chose the Automotive Dealership Institute because we felt that their exceptional programs would be an asset to any bank in Asia”.  Said Emmanuel Daniel, The Asian Banker’s President and CEO.  “In the three years since we started, ADI has exceeded our expectations.  We’re particularly thrilled that Professor Watanabe will be leading the workshop this year.  She’s second to none when it comes to understanding the automotive finance sector and the impact it has had on automotive retailing marketing.  We look forward to her sharing her insights on growth opportunities and best practices in auto financing.”

The workshop, entitled Creating a Competitive Advantage in the Auto Financing Market for Tomorrow, is designed for financial services executives throughout Asia who are currently in or looking to enter the automotive financing industry. During the workshop, Prof. Watanabe will outline key factors for successful operations and management and how an organization can be positioned for tomorrow’s challenges.  Using her famous interactive teaching style, she will facilitate working group discussions on the opportunities to build and grow a highly successful automotive lending portfolio in the emerging markets of Asia.  The discussions will include the analysis actual case studies to examine best practices for the Asian market.   

“We’ve had wonderful feedback on our automotive financing workshop every year,” reports Arzu Algan, Dean of Education at ADI.  “Our attendees come from all across Asia:  China, Vietnam, Japan, Philippines, Indonesia, Taiwan, Singapore, and Malaysia.  I think that the interaction between people from so many different countries is almost as valuable as the workshop itself.  It really puts the training in a global perspective.” 

As a leading expert in automotive finance Professor Watanabe has worked and consulted with many of the biggest companies and trade associations in the industry.  Two years ago, she founded Connections Insights, LLC, a consulting practice where she assists automotive captives, banks and independent auto financing companies in establishing strategic partnerships with innovative and forward-thinking service providers.  Before starting her own company, Watanabe spent more than ten years in management at Nissan with Nissan Motor Company, Ltd, Japan, Nissan North America and Nissan Motor Acceptance Corporation.  She has also held other industry roles making her view of the industry quite unique:  Senior Vice President of Equifax, a top credit reporting agency, where she was responsible for their auto financing clients; Business Development Executive for BarNone –a non-prime auto financing and dealer marketing company– and Practice Manager for the Auto Finance Practice of BenchMark Consulting International. 

She is currently a board of director of the American Financial Services Association and the National Auto Finance Association, two leading industry trade associations in the U.S.   Prof. Watanabe earned her Bachelor of Science degree in Political Science and Economics from University of California at Berkeley, and her MBA from Pepperdine University.  She also lived in Japan for several years where she worked with major Japanese organizations and educational institutions.

“I’m very excited to have the opportunity to lead this workshop,” says Watanabe, “It is very rewarding to provide Pacific Asia’s top-level industry leaders with the knowledge and tools that will help them successfully compete in the automotive financing arena.  And, with the diverse group of attendees expected, the learning will only be enhanced by the interaction of the participants.  

Since 1996, The Asian Banker has provided up-to-date information about and insightful analysis of the ever-changing global financial services industry.  The company’s flagship publication, The Asian Banker Journal, is regarded as the leading resource of information a research regarding financial service developments throughout the Asia-Pacific region.  For more information, visit www.theasianbanker.com.

Based in Scottsdale, Arizona, the Automotive Dealership Institute is renowned for its innovative automotive management training programs.  Offering both in-class and web-based distance learning courses, ADI is dedicated to educating the next generation of Finance and Insurance Managers and Service Advisors. ADI is licensed by the State of Arizona Board for Private Postsecondary Education and is approved by the Arizona Department of education.  For more information, call (877) 998-7200 or visit www.autodealerinstitute.com. 

A PDF outlining the workshop is available on the Automotive Dealership Institute’s website. Click here.

The first of the dealership-exclusive workshops hosted by the Automotive Dealership Institute has proved a resounding success. The packed workshop was led by acclaimed dealership consultant and ADI professor Rebecca D. Chernek. Dr. Robert W. Serum, former Vice President of Academics and International Programs at Northwood University and recipient of the 2007 Automotive Education Excellence Award, was among those in attendance, along with his wife, Dr. Camella Serum. They were joined by the publisher of F&I Management and Technology Magazine and Special Finance Magazine, Mr. David Gesualdo. Other attendees included finance directors, finance managers, sales managers and general agents from across the country.

“The automotive industry is evolving so quickly, it’s more important than ever for dealers to employ the most up-to-date methods available,” says Mr. Gesualdo. “This means refreshing and updating the education of dealership personnel, from upper management to sales personnel on the floor.”

This workshop is the result of the recent professional alliance between ADI and Chernek Consulting, Inc., a nationally respected dealership consultation company. “It’s been a great experience working with Ms. Chernek and CCI,” says Alan Algan, Executive Director and CEO of ADI. “In fact, Becky facilitates all of ADI’s in-store dealership consulting.”

The first day concentrated on interdepartmental cooperation, especially the transition between the Sales and Finance Departments. Day Two focused on the customer interview process, when the Finance Manager establishes a rapport with the customer. On the third day, participants honed their menu presentation techniques, which can significantly increase their customer acceptance ratio.

“The goal,” says Ms. Chernek, “is to teach dealers to minimize liability while maximizing profits both in the front and back end.”

Throughout the entire workshop, the focus was training dealership personnel to create consistent, effective dealership operations. At the same time, there was a strong emphasis on ethically practicing these new techniques. “It was a real world atmosphere,” reports Finance Director Sandra Parks of Green’s Toyota in Lexington, Kentucky. “The interaction and exchange of viewpoints between Ms. Chernek and the attendees was incredibly valuable.”

Due to the overwhelming response, the Automotive Dealership Institute has announced the next dealership-exclusive workshop, Closing Tools & Increasing F&I Revenue, will take place May 20-22, 2008. Seating will be limited, so early registration is recommended. For more information, visit our Automotive Dealership Workshop resource.

Widely regarded as the automotive industry’s most comprehensive web-based front-end application, ProMax Online represents the latest in desking and follow-up systems.  It offers a fully integrated approach to maximizing profits through more efficient sales processes.  The system’s leasing tool presents detailed comparisons of lease/retail options and provides instant payment calculations. The special finance tools instantly produce all possible lender-vehicle combinations available to the customer. 

The Automotive Dealership Institute, the nation’s foremost automotive management training school, specializes in integrating the industry’s most advanced technology with its intensive curriculum.   “At ADI, our primary objective has always been providing the best education possible to our students,” says Alan Algan, CEO and Executive Director of Automotive Dealership Institute. “The ProMax Online system is already in use at many dealerships across the country.  Training our F&I students on ProMax Online offers them a significant advantage as they enter the automotive profession.” 

“ProMax Online is a fantastic system,” agrees Professor Jack Ferry, head of ADI’s Finance and Insurance program.  “This software takes a cumbersome process which would take even an experienced F&I Manager several minutes and makes it instantaneous.  It’s not only fast, it also has pinpoint accuracy.  Training our students to work with the system definitely gives them an edge.” 

“This affiliation with ADI fits perfectly into our growing network,” says Rob Pearson, Sales and Licensing Director for ProMax Online.  “Having F&I personnel who are already well-versed in using our application will really help dealerships take full advantage of its benefits.  We’re really looking forward to working with ADI as we continue nationwide.” 

About Dealer Marketing Services, Inc.
Since its ground-breaking release in 2002, ProMax Online has proven to be the most innovative and exciting automotive software product available today. It covers a dealership’s desking, BDC, F&I, inventory, lead generation and special finance needs. By replacing the numerous types of software normally required for each of these areas with a single user-friendly, web-based application, ProMax Online offers significant savings to its clients – while simultaneously increasing sales and grosses. 

About ADI
The Automotive Dealership Institute is a Scottsdale, Arizona-based automotive management school that specializes in educating the next generation of F&I managers and service advisors. ADI is licensed by the State of Arizona Board for Private Postsecondary Education and approved by the Arizona Department of Education. For more information, call 877-998-7200.

“I was very impressed at the depth of instruction Becky provided in such a short period,” says Keith Mason, current F&I student at the Automotive Dealership Institute.  “She really prepared us to be superior in the menu-presentation aspect of F&I.” 

Ms. Chernek has joined ADI’s faculty as an associate professor, and will offer special workshops at ADI throughout the year.  She will also assist ADI graduates with job placement at her dealerships nationwide. ADI’s dealership clients, too, will be able to go to Ms. Chernek as a resource, especially for new hire orientation, ongoing certification, and continued training of employees.  

“We are very excited to team up with Becky because she shares a common vision with ADI and has the same commitment to excellence,” says ADI Executive Director and CEO Alan Algan.  “Chernek Consulting, Inc. provides the most comprehensive and results-driven in-store workshops in the country.   We believe that, together, we will set a new standard in dealership training.”

“This is a great partnership,” agrees Becky Chernek, “ADI’s new web-based F&I training product is incredible, it is exactly the type of cutting-edge training and adaptability that today’s automotive industry demands.  Competition is not within the dealership anymore. It is online and nationwide.”

As part of their new partnership, the Automotive Dealership Institute will sponsor at least four dealership-only workshops per year.  These three-day sessions will be taught by Ms. Chernek personally and held at ADI’s Scottsdale, Arizona, facilities.  The first workshop is scheduled for January 9th-11th, 2008.  Seating is limited to 24 participants, and many of Ms. Chernek’s existing clients have already expressed an interest in attending.  This includes Wendy Bowen, General Manger of Hurd Auto Mall, New England’s largest General Motors campus. Ms. Bowen, whose first CCI workshop left her “motivated to go back to my store and turn everything upside down,” was excited to hear of the ADI-sponsored workshops.  “Becky’s dynamic, and ADI is the most trusted name in automotive training” Ms. Bowen reports, “I’ve enrolled multiple managers to Becky’s courses over the last several years, and will definitely send them to ADI. Becky teamed up with ADI makes a great combination!”

CCI will be making extensive use of the Automotive Dealership Institute’s new web-based F&I training program, and will integrate it into its nationwide dealership consultations.  This online product is offered in three “modules,” each of which cover different aspects of Finance and Insurance Management.  Modules may be purchased individually to accommodate busy professionals who are unable to take extended time off from work. Should a student desire a more interactive approach, they have the option of enrolling the hybrid diploma program, which offers an additional week of “live” instruction at ADI’s Scottsdale campus and includes professional job placement.

The Automotive Dealership Institute is a Scottsdale, AZ-based automotive management training facility that specializes in educating the next generation of Finance and Insurance managers and service advisors. ADI is approved by the State of Arizona Board for Private Postsecondary Education. For more information, call (877) 998-7200 or visit www.autodealerinstitute.com.

Becky Chernek, president and founder of Chernek Consulting Incorporated, has enjoyed an exemplary sales career spanning almost two decades, and experienced every aspect of the car sales process. Over the last several years, Ms. Chernek has worked with hundreds of automotive dealerships, including JM&A and AutoNation.  For more information, call 1-877-730-3663 or visit www.chernekconsulting.com.