Month: April 2013

Biweekly Leasing

Last month, I wrote that Canada offered a better variety of financing plans, and this is a great example.  The picture below is from a print advertisement for Oakville Honda.  Back when we were setting up U.S. Equity, a dealer told me that the key to using biweekly was to highlight the low payment in his local Saturday newspaper.  In the States, he could only do this by using a service such as ours.

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Here, the dealer avails himself of a program from Honda Finance Canada, which takes an already subvented APR and spreads it over 104 biweekly payments.  It makes a great ad, and they’re running it on TV, too.

Ancient Relic Found

Get PricingSince moving to Toronto, I have been renovating the house and making a study of Canadian F&I.  Some things here are more advanced, like the variety of financing plans, and some are backward.  Pictured here is something I haven’t seen in a long time – the dreaded “secret price” button.  This is a far cry from dealer sites in the U.S. and contrary to everything I believe about e-commerce.  For my new friends in Canada, here is the right approach.  As a consultant, this just means more work for me.

Global Forms Service

A few years ago, I wrote a spec for a generalized forms bureau, to which F&I product providers would outsource their forms work.  Today, every provider I know has a satisfactory forms service installed, so I am putting the spec out in the public domain.  It’s on my web site, just below the DSP white paper.  I imagine it may have some application in another industry, like health care.  See excerpt below.  Enjoy!

For best results, this functionality will not be confined to the provider’s web site. It will be exposed as a web service, and made available for integration with all relevant point-of-sale (POS) systems. The purpose of a “global forms service” is to make this approach available to all forms providers on an outsourced basis.