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Tackling the used car market: The Money

This year’s AM Used Car Market Conference explores the depths of the used car market by focusing on three crucial areas – The Metal, The Money and The Marketing.

In part two of our run-up to the conference focus points, AM explores the critical area of finance, revenue and profit.

The most popular of all AM’s annual events which takes place at the Motorcycle Museum on October 9 will be hosted by renowned motoring commentator and former Top Gear presenter Quentin Willson, and will tackle the challenges of operating in today’s retail environment.

The Money

Peter Landers, associate head of consumer finance at Grant Thornton, will urge dealers to rethink their F&I strategy as customers are increasingly coming to buy a vehicle with finance already in place. Landers will draw on 25 years’ experience in automotive finance to deliver an insight into the current market as well as looking at the future for this all-important revenue stream.

As author of ‘The Long View’, which looked at how used car retailing would evolve, Professor Peter Cooke, KPMG, professor of automotive management at the University of Buckingham, revisits the predictions in order to help dealers best prepare for the future.

Identifying and implementing initiatives to deliver a new car experience for used car buyers as well as enabling dealers to balance up-selling with value for money including the role of the extended warranty will be explored by MAPFRE WARRANTY’s head of partnership and distribution Steve Burgess.

Staying on the right side of the law keeps consumers happy and enhances a dealer’s reputation resulting in an inevitable knock-on effect of increased custom and profits whilst falling foul of regulations can be time consuming and even costly, Judith Frame, head of marketing at the Office of Fair Trading, will provide a quick guide to consumer law both on the forecourt and online.

The complexities of number crunching incorporating a whole host of variables in any given deal including elements such as VAT and the part exchange can generate more profit in a deal without costing the customer anymore and Garry Cuthbert, co-founder and director of Reef Business Systems, will attempt to illustrate how it can be done. He will be joined by Darren Williams, managing director of Grants Seat, who formulates his deals on a daily basis to ensure every penny is incorporated.

Places are still available – if you are looking for insight, advice and analysis to best plan your used car retail operation, AM’s Used Car Conference is a must. More information and details of how to book are available here

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