"Back to the Basics!" Years ago I listened intently to Jackie B. Cooper, as he conducted a training class in North Carolina for automotive sales managers, entitled "Back to the Basics and beyond". As always, Jackie B. presented his message with motivation and conviction, however for those of us who heard the real message, it was clear that the basics helped us endure recessions, gas shortages, rebates and many other obstacles that had been thrown at us during the 70"s and early 80's! Special finance is no different and I believe it is time to get "Back to the Basics"! For over 5 years I have spoke and written about the importance of Commitment and Accountability in dealerships as it relates to special finance. Well, guess what? The results of dealerships that are committed far exceed those who are not! Everyday I hear success stories from dealers who have successful special finance departments and the one common denominator is commitment. The reason special finance directors like Denny O'Brien and others continue to be successful year in and year out is because they are committed to the basics and hold each member of their staff accountable. The basics are simple: 1. Commitment by senior management. 2. Accountability by all staff members. 3. Consistent Advertising 4. Inventory that works. 5. System to follow up on all Internet and 800 leads. 6. Proper Interviews 7. Understanding of lender guidelines 8. Complete credit applications and high look to book ratio with lenders 9. Proper delivery and complete funding packages 10. Follow up on all references for future business Sound simple? It is! Once we get back to the basis and focus on turning every lead into a delivery the special fiancé department will continue to grow and remain the additional profit center it was intended to be. Every year a new group of consumers enter the special finance arena and 2001 will be no different. More lenders are getting back into special finance and the competition is greater than ever before. We can no longer put the special finance department behind the building and treat as a stepchild or afterthought! Competitors are more aggressive and consumers have new resources to assist them in acquiring loans. Who would have believed in 1985 that sub-prime consumers would be armed with the knowledge they have today or that dealers and lenders would go after their business the way we do today? The future is here and to remain on top requires a simple philosophy, get back to the basics! Why reinvent the process when the basic principals we build special finance on continue to be successful for many dealers! In closing, take a close look at your special finance department and make sure everyone is paying attention to the basic things that insure success. Make this new years resolution one that everyone can keep, Back to the Basics and Beyond! I hope everyone has a wonderful holiday season and prosperous 2001!