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5/12/2025

Meeting summary for EliteFI Weekly Team Meeting (05/12/2025)

Quick recap

Michael and Steve discussed scheduling a meeting with a representative from Ciada to discuss their services and costs, while also reviewing contracts and the limitations of the Asc warranty program. The team also discussed the challenges of competing with Asc and Gold Standard in the automotive repair industry, the potential benefits of a new program for the dealership, and the handling of repairs and warranties for gray market cars. Lastly, the team discussed the possibility of a team trip in August, individual performance metrics, and plans for the upcoming week.

Next steps

Don to follow up with the dealer in Texas about signing agreements for Auf and American Guardian
Rob to call Steve after the meeting
All team members to confirm availability for August 2-10 trip dates with Michael
Michael to proceed with next steps for planning the cruise trip once team confirms availability
Rob, Emilia, and Mike to schedule a call together
Steve to update Michael once he hears back from "that guy
Don and Rob to plan another trip to South Carolina/Savannah to revisit two big dealers about fixed ops
Joel to double-check August 2-10 availability with Michelle
Rob to confirm August 2-10 availability with Britney
Don to call the Texas dealer to see if they can move forward with signing agreements
Steve and Rob to coordinate a trip to Steve's area in the next 2-3 weeks to visit stores together
Joel and Steve to try visiting some stores with the fixed ops program
Michael to nudge Matt about pushing forward on the Chapman opportunity

Summary

Ciada Services and Conference Deal

Michael and Steve discussed scheduling a meeting with a representative from Ciada to discuss their services and costs. Steve mentioned that Ciada is the third largest agency in the country, covering both North and South Carolina. They also discussed a conference deal in Myrtle Beach, South Carolina, which is their biggest event of the year. Michael expressed interest in learning more about Ciada's services and costs. In the meantime, Michael and Julio discussed reviewing contracts, with Julio sharing his screen to review the Asc contract.

Contract Limitations and Liability Discussion

Julio discussed the limitations of a contract with Michael, highlighting that it only covers up to $500 in liability for a 3-month contract, and up to $5,000 for a 12-month contract. Michael pointed out that the contract's low limit of liability could lead to customers seeking additional compensation, and that it's common for dealers to have issues with the contract. He suggested that their own contract, with a higher limit of liability, could be a better option.

Asc Warranty Program Limitations Discussed

In the meeting, Steve and Michael discussed the limitations of the Asc warranty program, particularly its limited liability. They agreed that the Asc program, which caps at $500 per claim, is easily outperformed by other warranty programs, such as the blended rate program, which offers a $10,000 aggregate limit. They also noted that the Asc program is often used for short-term warranties, but it can be easily replaced with a more comprehensive program. The team concluded that the Asc program is a weak point in the market that can be easily beaten by other warranty providers.

Competing With Asc and Gold Standard

Steve, Michael, Don, and Julio discussed the challenges of competing with Asc and Gold Standard in the automotive repair industry. They noted that some dealerships prefer Asc due to its frequent visits and good reputation, while others prefer Gold Standard for its coverage and labor rates. The team agreed on the importance of understanding the terms and limitations of each contract to effectively compete and provide better services to their clients. They also discussed the need for frequent visits to dealerships to build relationships and offer alternative solutions.

Contract Challenges and Fixed Ops Discussion

In the meeting, Michael, Julio, Steve, and Don discussed various aspects of their contracts, including the 4-month coverage, limits of liability, and the inclusion of certain features in their contracts. They also discussed the challenges they were facing in getting the next level of decision-makers on board with their fixed Ops program. Don shared his experiences with different dealerships, highlighting the positive reception they received from service managers and directors, but also the challenges they faced in getting the higher-ups to make a decision. The team also discussed the need for a follow-up meeting to address these issues.

New Program Benefits and Planning

Don discussed the potential benefits of a new program for the dealership, including a significant increase in revenue and customer retention. He suggested that the program could be a game-changer for the dealership, but emphasized the need for careful planning and follow-up to ensure its success. Michael agreed, highlighting the importance of engaging with the dealership's higher-ups and securing meetings to further discuss the program. They also discussed the need for automation to streamline the process and minimize additional work for the dealership.

Gray Market Car Repairs and Warranties

Don and Rob discussed the handling of repairs and warranties for gray market cars, particularly Chrysler. They clarified that if a repair is done today and a claim is filed the next week, it would be covered under the same warranty. They also discussed the scenario of a customer coming in for a repair, then returning for a subsequent repair related to the same issue, but with lower labor costs. They agreed that in such cases, the labor cost would need to be increased to qualify for the lifetime repair program. Michael raised a point about the impact of increasing labor rates on the average repair order price, which was acknowledged.

Lifetime Warranty and Reinsurance Discussion

In the meeting, Michael and Don discussed the potential of offering a lifetime warranty for an additional $20, which could be used as a tool to negotiate with customers. Rob joined the conversation and expressed his interest in being a part of the meeting with the executive management team at Garber. He also asked about the possibility of reinsurance and the benchmarks for payout percentage. John clarified that reinsurance cannot solely exist from warranty and that it needs to seed into an existing reinsurance. He also mentioned that the retro is a hundred percent and there's no threshold. Rob and John discussed the possibility of moving some of the Zurich business into the retro and the potential benefits of reinsurance. They also discussed the importance of keeping the conversation going with the bigger store group and the need to push for bigger meetings.

Team Trip and Performance Metrics

In the meeting, Michael discussed the possibility of a team trip in August, with dates ranging from August 2nd to August 10th. The team was asked to confirm their availability for these dates. Michael also mentioned a potential cruise trip for the team, with the details to be finalized once everyone's availability is confirmed. Additionally, the team discussed their individual performance metrics, with Joel reporting 16 service visits and 22 prospecting visits, and Don reporting 16 marketing visits and 8 service visits. The team also discussed their plans for the upcoming week, with various meetings and activities scheduled.

Meeting Recording

5/1/2025

Meeting summary for EliteFI Weekly Team Meeting (05/05/2025)

Quick recap

The team discussed their recent visits to service departments, the benefits of their program, and strategies for engaging with potential clients in the automotive industry. They also explored the potential of a new product, the service drive program, and warranty coverage for various components. Lastly, they discussed a new program that allows dealers to set up their own service departments, their plans for the week, and the possibility of working with the Colorado Auto Dealer Association.

Next steps

Summary

Service Managers Receptive to Fixed Ops

In the meeting, the team discussed their recent visits to service departments. Rob shared that they received a positive response from the service managers, who were receptive to their fixed Ops program. The program was well-received as it was customer-funded and offered a win-win situation for both the service department and the dealership. The team also discussed the challenges they faced, such as dealing with existing reinsurance providers. However, they found that once they clarified that their program was not related to finance products, the service managers became more engaged. The team also discussed the importance of finding the right person to talk to in the service department.

Program Increases RO by $100-$130

Blake, Don, and Rob discussed the benefits of their program, which increases the average repair order (RO) by $100-$130. They emphasized that the program doesn't change any processes for service advisors and is customer-funded. The increase in labor rate is a significant market differentiator. The program also helps dealerships by adding lines per RO, which improves their RO numbers. The dealerships' pay plans are tied to the program, with potential bonuses for increased ROs. The program's success is attributed to its automation and the lifetime warranty it offers.

Engaging Automotive Clients With Visuals

Michael, Don, and Rob discussed strategies for engaging with potential clients in the automotive industry. They agreed that getting in front of the right person, such as a service director, was crucial for successful conversations. They also discussed the need for a more condensed, visually appealing presentation to leave behind after initial meetings. Michael proposed creating a branded one-pager for this purpose. The team also discussed the importance of follow-up emails and attachments to keep the conversation going.

Exploring New Product Opportunities

Michael discussed the potential of a new product, emphasizing its unique selling points and the opportunity to establish a presence in the market before competitors. He highlighted the product's low service requirements and its potential for generating significant revenue. The team agreed on the need for a catchy name and discussed the possibility of other agencies offering similar products. They also considered the potential for competition and the importance of maintaining a competitive pricing strategy. The conversation ended with a consensus on the need to explore this opportunity further and to consider the dealerships they are currently targeting.

Service Drive Program Revenue Discussion

Michael discussed the potential of the service drive program, emphasizing its revenue-generating potential and the need for everyone to understand and contribute to its success. He also mentioned working on a web page with SEO and content to support the program. Don clarified that the program is currently auto-only and not suitable for power sports due to higher claims ratios. Michael agreed to provide more content and resources for the program, including a flyer with a QR code linking to the web page. Don suggested creating a handout or email with common questions and answers for dealerships.

Warranty Coverage for Brake Components

Don discussed the warranty coverage for various components, including brake pads and rotors, and clarified that if a covered component damages a non-covered one, the non-covered component would be covered. He also mentioned that different companies have different start dates and part warranties, with some covering only the part and not the labor. Michael raised a question about the coverage of Gray Market vehicles, which Don confirmed would be covered. Rob added that while these vehicles are not full Gray Market, they are Canadian and their warranties do not transfer over.

Dealers Set Up Service Departments

Michael, Rob, and Blake discussed a new program that allows dealers to set up their own service departments and direct customers to them. The program is customizable and can be set up to include or exclude certain services. The dealers can also choose to include or exclude certain services. The program is designed to increase customer retention and provide more opportunities for dealers. The team also discussed the potential for dealers to pitch in some money in certain situations, but this is expected to be rare. The program is expected to be more cost-effective than other similar programs. The team agreed to circle back next week to discuss their experiences with the program.

Activities and Potential Partnerships Discussed

Michael led a discussion about various activities and their respective numbers. Blake and Steve provided their input on the marketing and service activities. Don shared his numbers for dealer visits and timeline entries. The team also discussed the potential of working with the Colorado Auto Dealer Association and the possibility of a contract referral system. They also discussed the idea of advertising on the association's website. The team agreed to set up a call with the association to discuss further. Steve expressed interest in reaching out to the North Carolina association. The team also discussed the process of signing up for the Lojack program.

Team Plans and Upcoming Meetings

In the meeting, Steve, Julio, Michael, and Don discussed their plans for the week. Steve had training sessions that didn't work out and is focusing on selling policies in Beaufort. He also plans to visit Savannah and other dealers in the area. Julio is meeting with a client in Tucson and plans to visit New Mexico or Phoenix. Don is working with Blake in Greenville and 28th Street, and he's also planning to meet with Rob on Friday. The team also discussed a potential meeting with Rob in Michigan. They agreed to set up the next call for the same time next week.

Meeting Recording

4/28/2025

Meeting summary for EliteFI Weekly Team Meeting (04/28/2025)

Quick recap

The team members shared updates about their weekends and discussed changes to the activity log, focusing on tracking dealer visits for marketing and service separately, timeline entries, and signed agreements. They also discussed the Freedom Warranty contract, its weaknesses and limitations, and plans for an agent trip to Alpha in late May. Lastly, the team reviewed their schedules and activities, discussed a claim issue with a small dealer, and emphasized the importance of persistence in pursuing large dealerships.

Next steps

Summary

Team Members Share Weekend Updates

The team members share updates about their weekends. Michael was sick, Joel attended his son's prom, Jake spent time with his grandparents who are visiting from Florida, and Steve's wife is recovering from an illness she likely caught at the elementary school where she works. Blake had a relaxed weekend. Michael notes that Rob and Don are not attending the call as they are currently in Fox.

Activity Log Changes and Golf Tournament

Michael announces changes to the activity log, focusing on tracking dealer visits for marketing and service separately, timeline entries, and signed agreements. He emphasizes the importance of creating timeline entries for service visits and explains the rationale behind these changes. Michael also discusses the recent golf tournament sponsorship, highlighting its success in networking with dealerships and the benefits of partnering with associations. He encourages team members to explore similar opportunities in their respective markets. The team then discusses their efforts to connect with various state dealer associations, with Blake and Jake reporting on their progress in Colorado and Illinois, respectively.

Freedom Warranty Contract Limitations Discussed

The group discusses the Freedom Warranty contract, focusing on its weaknesses and limitations. They note the low labor rates ($85 for domestic, $125 for European vehicles), strict coverage exclusions, and complex limits of liability. The contract has a maximum payout of $10,000 per claim and excludes coverage for certain branded titles. The team also raises concerns about Freedom possibly being a risk retention group without insurance backing, which could leave dealerships responsible for claims if the company goes out of business. They conclude that the contract is designed to be cheap by limiting payouts and coverage, making it difficult for customers to understand what they're actually getting.

Agent Trip and Close CRM Discussion

Michael discusses plans for an agent trip to Alpha in late May, proposing dates of May 27-29. He asks team members to confirm their availability. The group also discusses using Close CRM, with Joel asking about creating dealership entries on mobile. Michael explains how to merge duplicate entries in Close. He then shares information about a new fixed ops program, including marketing materials and presentation slides available in the company portal. The team reviews the program's pricing structure, which involves adding 10-15% to labor costs. Finally, Michael goes through activity logs with each team member, collecting data on dealer visits, service visits, timeline entries, social media posts, and signed agreements.

Dealership Feedback and Reinsurance Discussions

In the meeting, Michael discussed the need for Joel to enroll dealership people in their website for feedback. Joel planned to focus on service calls and ensuring contracts were paid. Blake's week involved visiting Keizu, working on warranty issues, and meeting with Cardone in Detroit. He also planned to discuss reinsurance with Rob. Steve planned to visit Beaufort, train with a dealer, and follow up in Charleston. Michael offered to assist Joel with timeline entries and Blake with reinsurance discussions.

Upcoming Schedules and Dealership Visits

The team discusses their upcoming schedules and activities. Steve plans to visit a dealership on Wednesday to follow up on their buy here, pay here gap product, which hasn't been utilized as expected. Jake outlines his week, including visits to Kalamazoo, Flint, and Chicago, with a focus on following up with a large dealership. Julio is heading to Albuquerque and Phoenix, with the exact schedule still to be determined. Michael expresses interest in potentially joining Julio and emphasizes the importance of persistence in pursuing the large dealership Jake is following up with.

Claim Denial and Dealer Relations

Steve discussed a claim issue with a small dealer who sold day-one coverage but didn't inspect their cars when purchasing from the auction. The dealer's claim was denied, leading to a strained relationship. Michael advised Steve to be cautious about dealing with such problematic dealers and to focus on those with a good process in place. Michael also shared a useful tool for receiving notifications about claims in the Zoom portal.

Meeting Recording

4/22/2025

Meeting summary for EliteFI Weekly Team Meeting (04/22/2025)

Quick recap

Michael introduced John Rub for a fixed Ops presentation and led a meeting where he presented a warranty program for dealerships. The team also discussed their performance metrics for the previous week and the limitations of a contract. The conversation ended with a discussion on the rental car reimbursement policy of other companies.

Next steps

Blake to follow up with Parkway dealership to address issues with New Tech and discuss potential remote finance options.
Blake to keep Michael informed about the Parkway dealership situation.
Julio will continue to review and present different warranty contracts during weekly meetings.
All team members to use the limits of liability and labor rate information as talking points when discussing warranty contracts with dealerships.
All team members to update their weekly numbers (calls, dealer visits, emails, timeline entries, social media posts, signed dealers) in the tracking system.

Summary

Fixed Ops Presentation and Client Meeting

Michael introduced John Rube, who presented a fixed Ops presentation. Blake and Robert discussed a successful meeting with a potential client, Steve, who showed interest in their services. They also discussed the client's current pricing and the potential for exclusivity.

Warranty Program for Dealerships Discussion

Michael led a meeting where Steve presented a slideshow about a warranty program for dealerships. The program offers a fixed fee structure, which is advantageous as it prevents dealers from switching to other companies offering similar programs. Steve also discussed the importance of targeting larger dealerships with service departments. The team discussed the possibility of offering the program to smaller dealerships at a lower cost. They also discussed the need for marketing materials to present to dealerships. The conversation ended with a discussion about the weekly numbers, but it was unclear if they were finalized.

Team Performance Metrics and Plans

In the meeting, Michael led a discussion on the team's performance metrics for the previous week. Julio, Blake, Steve, and Joel shared their respective numbers for calls made, dealer visits, emails sent, timeline entries, social media posts, and signed dealers. Blake and Steve reported the highest numbers for dealer visits and emails sent, respectively. The team also discussed their plans for the upcoming week, with Joel focusing on store kickoffs and Blake dealing with a situation involving Parkway and New Tech. Julio was tasked with leading a discussion on the 3 Star contract.

Contract Limitations and Rental Car Reimbursement

In the meeting, Julio discussed the limitations of a contract, highlighting that it only covers up to $30 per day for rental car reimbursement and can't exceed 5 days. He also pointed out the low limits of liability for various components, such as engines, transmissions, and axles. Michael added that the contract is often misunderstood by dealerships, who think it covers up to $6,500, but in reality, it only covers up to $3,000 for engine claims. Steve asked about the rental car reimbursement policy of other companies, and Julio confirmed that Alpha's policy is $70 per day for up to 6 days. The team agreed to use this information to better understand and compare the contracts they offer to dealerships.

Meeting Recording

4/11/2025

Meeting summary for EliteFI Weekly Team Meeting (04/11/2025)

Quick recap: Tina Morgan from Lojack introduced herself as the head of the indirect sales channel and discussed the company's growth and partnership with the attendees. The discussion centered on the features of the LoJack dealer app and customer app, the company's 98% recovery rate for stolen vehicles, and the theft benefits offered to dealers and customers.

The team also discussed their activities and sign-ups, the importance of tracking activities and visits to dealerships, and the necessity of reviewing competitor agreements and contracts. Next steps •

All team members to utilize the dealer timeline feature for tracking activities and interactions with dealerships.
All team members to log completed installations and kickoffs in the activated log.
All team members to add dealership employees to the timeline and track every visit or interaction.
Michael to carve out time in Monday's meeting to go through the spaces feature and how to access dealer timelines.
All team members to review competitor admin contracts in the Agent Drive before visiting dealerships.
All team members to collect and share information on competitor products encountered at dealerships with Michael.
Julio to follow up with Mike Pagett regarding visiting the two interested stores in Arizona.
Rob to show Don how to switch installations from pending to activated/completed in the system.
All team members to ensure they are inputting commission information for new agreements in the install list.
Michael to continue adding competitor admin information to the Agent Drive library.
All team members to consider creating social media accounts for business purposes if they haven't already.

Summary Lojack's Growth and Versatile Product Benefits In the meeting, Tina Morgan from Lojack introduced herself as the head of the indirect sales channel. She discussed the company's growth over the past four years, from five to eighty agents, and expressed excitement about the partnership with the attendees. Tina proposed to go over the dealership app, consumer app, and dealership portal, encouraging interactive participation. She emphasized the threefold benefits of Lojack: making money, saving money, and retaining customers. Tina also highlighted the versatility of their product, which can impact various departments within a dealership.

She concluded by suggesting the use of the Lojack dealer app for inventory management. LoJack Dealer and Customer App Features The discussion focuses on the features of the LoJack dealer app and customer app. The dealer app allows sales staff to quickly locate inventory, check battery status, and search for vehicles using various criteria. It also provides installation information for the LoJack device. The customer app offers features such as live location tracking, geofencing, battery status alerts, location sharing, and trade evaluation tools. Additionally, the app provides recall notifications and maintenance schedules, aiming to bring customers back to the dealership for service. The stolen vehicle recovery process is also highlighted as a key feature of the LoJack system. Vehicle Theft Recovery and Benefits Discussed TMorgan discussed the company's 98% stolen vehicle recovery rate and average recovery time of under 30 minutes. He also explained the $10,000 theft benefit offered to dealers and customers, which is non-cancelable and not dependent on the vehicle's value.

SteveGannon asked about the Nada value at the time of theft, which TMorgan confirmed.

Michael inquired about the theft benefit's reinsurance, to which TMorgan confirmed it could be reinsured.

SteveGannon asked about the check's recipient, to which TMorgan confirmed it's made payable to both the dealer and the customer. TMorgan also explained the company's robust analytics and customizable campaigns for dealers. Michael asked about push notifications for multiple vehicles, to which TMorgan confirmed. SteveGannon asked about the process for dealers to regain possession of a vehicle in a fraud case, to which TMorgan advised them to consult their legal team. Lojack Dealer Portal Features Demo The summary discusses the Lojack dealer portal and its features. Tina Morgan demonstrates how dealers can manage their inventory, track vehicle locations, set up geofences, and handle sales through the portal. The system allows for customization of alerts, reports, and campaigns to engage customers. Michael expresses interest in the comprehensive kickoff process provided by Lojack's team to help dealers get comfortable with the system. Tina also mentions ongoing support through account representatives and virtual performance managers to ensure dealer success. Lojack Vehicle Tracking Pricing Options The discussion covers pricing and options for Lojack's vehicle tracking and theft prevention system. Tina Morgan explains different preload options, including inventory management, one-year, and multi-year plans, with varying costs and benefits for dealers and consumers. She also discusses pay-as-you-go pricing, optional installation services, and DMS integration fees. The process for onboarding new dealerships is outlined, including required documentation and setup timelines. The theft benefit amount varies by state, based on the dealership's location rather than the customer's address. LoJack Marketing and Team Coverage The group discusses marketing and advertising for LoJack, with Michael asking about restrictions on social media posts and website advertising. Tina confirms they can use the provided marketing tools and even reshare content from LoJack's LinkedIn. Michael inquires about video content featuring customer testimonials, which Tina says they don't currently have but would like to obtain. The conversation then shifts to LoJack's team coverage across different regions, with Tina offering support for presentations and dealer visits. The group expresses interest in the product, particularly its marketing capabilities and reinsurance options. They compare LoJack favorably to other GPS companies in terms of approach, support, and technology. The discussion concludes with Michael explaining his plan to include LoJack and Gold Star as separate options on their website for different types of dealerships. Team Activities and Social Media Discussion The team discussed their activities for the week, including the number of calls, dealer visits, emails, timeline entries, social media posts, and new sign-ups. Julio, Blake, Steve, Joel, and Don shared their individual contributions. The team also discussed the possibility of creating a social media account for business purposes, with Joel expressing interest in joining Instagram. The conversation ended with a reminder to keep their activities private to avoid unwanted attention. Dealership Activities and Competitor Agreements In the meeting, Rob, Don, Michael, and others discussed their activities and sign-ups. They clarified that each agreement, whether with a dealer or not, counts as one mark. They also discussed the importance of tracking activities and visits to dealerships. Michael emphasized the need to use the timeline feature to log every visit and interaction with the dealership. He also suggested recording training sessions and adding dealership employees to the timeline. The team agreed to review competitor agreements and contracts in future meetings to understand their offerings better. They also discussed the importance of integrating with dealerships and using the F&I Express feature to view competitor products. The conversation ended with plans for a Monday morning meeting at 9 AM. AI-generated content may be inaccurate or misleading. Always check for accuracy.

Meeting Recording

3/31/2025

Meeting summary for EliteFI Weekly Team Meeting (03/31/2025)

Quick recap Christina introduced the Line 5 system and its financing program for both franchise and independent dealers, explaining the loan submission process and the reports available for both programs. The team also discussed the Text to Sell program, the setup process for dealers, and the benefits of using Line 5 as a financing option for service contracts and maintenance plans. Lastly, the team reviewed recent activity, discussed the importance of reading and the number of emails, social media posts, calls, dealer visits, and sign-ups each team member had, and planned for upcoming visits and meetings. Next steps • Michael to update the bundle agreement to include Wise F&I. • Rob to add buy here pay here GAP pricing to the pricing sheet. • Don to follow up with Low Country Motors and send quotes. • Steve to follow up with Ernie at H&L about GAP pricing options. • Michael to create marketing materials for banks and credit unions. • Michael to book flight and finalize plans with Don for Thursday/Friday visit. • Blake to coordinate with Rob and Ahmad for Detroit visit. • Joel to attend Easy Bike Week and make connections with Harley stores. • Steve to follow up with Brian from Endurance about his potential visit. • Christina to find out how independent dealers are paid when customers choose weekly or bi-weekly payment options. • Christina to send marketing materials and training guides to Michael. Summary Line 5 System Setup Demonstration Christina, an account manager for the West Coast, introduced herself and discussed the Line 5 system. She planned to demonstrate the system's setup process and answer any questions. Michael clarified that the focus would be on franchise and independence, with a brief mention of power sports. Christina confirmed that power sports and RV would be considered franchise. She encountered some technical difficulties while sharing her screen, but Michael confirmed that he could see it. Financing Program for Cancelable Products Christina explains the process of starting a quote and using the calculator for Line 5's financing program for cancelable back-end products. The program offers financing for both franchise and independent dealers, with everyone being approved and APRs ranging from 8.99% to 19.99%. Franchise dealers have access to a 0% option with additional requirements. The loan term is based on the service contract term and vehicle, not the customer's credit score. The program finances up to 12 products per customer, excluding GAP. Christina also discusses the differences between franchise and independent programs, including down payment requirements and fee structures. The company works with customers who default for up to 90 days before canceling products. Loan Submission Process and Documentation Christina explains the loan submission process and documentation for Brenda Finance. The system verifies customer information, sets up auto-pay, and generates loan documents including a cover sheet, deal recap, retail installment contract, and credit application. Christina clarifies that the loans report to all three credit bureaus as installment loans. The group discusses how late payments or defaults would affect a customer's credit. Christina then demonstrates the dealer dashboard, showing how dealers can track loan statuses, manage cancellations, and access funding reports. For independent dealers, payments are made monthly based on customer payments, while franchise dealers have different arrangements. The exact payment frequency for dealers is unclear, and Christina promises to find out more details. Dealer Program Setup and Text to Sell Christina explained the reports available for both programs and clarified that dealers do not have a monthly fee or minimum requirements to maintain access. She also introduced the Text to Sell program, which allows customers to customize their purchases after leaving the dealership. Christina detailed the setup process for dealers, including the need for a dealer agreement, attachments, and various documents. She mentioned that the setup process typically takes 48 to 72 hours and that account managers will reach out to the agents before communicating with the dealers. Christina also offered to send marketing materials and training guides to the agents. Line 5 Financing for Service Contracts Michael introduces Line 5, a financing option for service contracts and maintenance plans. He explains that it has its own portal, integrates with multiple administrators, and allows dealers to offer customers a payment plan for both service contracts and maintenance. The program advances profits to dealers as customers pay, eliminating chargebacks. Michael suggests this option is particularly suitable for independent dealerships, as it creates a recurring revenue stream. Don decides to proceed with Line 5 for a specific dealer, and Michael provides instructions on how to sign up. Steve raises concerns about the impact on traditional payment structures, but Michael explains how the program can benefit both dealers and salespeople through ongoing commissions. Rescheduling Meeting and Reviewing Dealerships The team discusses rescheduling next week's meeting to Friday due to travel plans. They agree to meet at the same time on Friday the following week. Michael mentions a trip to Puerto Rico to meet with I8 and a new administrator. Steve shares his experience visiting Puerto Rico. The team then reviews recent activity, including phone calls, emails, and dealer visits. They clarify the status of some pending and activated dealerships on their list, with Michael and Robert providing updates on specific entries. Team Updates and DMS Integration Robert led a discussion on the importance of reading and the number of emails, social media posts, calls, dealer visits, and sign-ups each team member had. Michael updated the team on the DMS integration, the addition of F and I Express to the bundle, and the need to update the pricing for buy here, pay here. Steve and Julio discussed their respective numbers, while Don and Joel provided their updates. The team also discussed the need for a timeline for new sign-ups and the addition of a W-9 to the YSF and I agreement. Warranty Company Updates and Dealership Visits Steve plans to follow up with Ernie and visit stores in Beaufort tomorrow. Don is working on emails with Rob to send quotes to Low Country Motors in Bluffton. Michael is flying out to meet with Don on Thursday and Friday, and they plan to discuss marketing strategies for banks and credit unions. Blake and Jake have scheduled visits to various dealerships throughout the week, while Joel plans to attend Easy Bike Week to make connections with Harley stores. Steve will be visiting dealerships in Beaufort and other areas, and the team discussed updates on business cards and product offerings from different warranty companies. AI-generated content may be inaccurate or misleading. Always check for accuracy.

Meeting Recording

3/24/2025

Meeting summary for EliteFI Weekly Team Meeting (03/24/2025)

Quick recap

The team discussed their performance metrics, dealership integrations, and potential changes to the Dealfi platform. They also explored new market opportunities, such as credit unions and semi-truck dealerships, and considered the strengths and weaknesses of different service providers. Lastly, they shared their schedules and plans for the week, with a focus on balancing sales and administrative tasks. Next steps • Michael to schedule a call with Don Brady to discuss the credit union program and strategize on how to help him while he's busy with tax season. • Michael to lock in details with Don Lown for the Indianapolis trip and marketing plans. • Michael to schedule time to go on the road with Joel this week. • Michael to share the Alpha credit union slide deck with the team. • Michael to create an internal slide deck or marketing materials for the credit union program. • All team members to explore potential credit union and semi-truck dealership opportunities in their areas. • Michael to follow up with Paul and Jeremy regarding the Deal 5 situation and grandfather terms for existing dealerships. • Julio to follow up with the two New Mexico dealerships that recently signed up for Deal 5. • Michael to clarify the status of pending Deal 5 installations with Alpha. • Michael to consider scheduling a GWC representative for a future team call to provide an overview of their programs. Summary Steve's Kickoff and Dealer Center Plans In the meeting, Steve discussed his successful kickoff and the challenges faced with a buy here, pay here Saturday. He also mentioned his plans to help Ivan with his dealer center and his upcoming dealer visits. Julio returned from vacation and shared his experiences in Cancun, including the potential for business opportunities in Mexico. Rob was driving and unable to participate fully in the meeting. The team also discussed their performance metrics, including the number of calls, emails, and dealer visits, with no new signups reported. Sales Team Activity Metrics Review Michael reviews the weekly activity metrics with the sales team, including calls made, dealer visits, emails sent, and social media posts. He introduces a new summary page on the tracker to monitor key metrics and highlight individual strengths. Michael emphasizes that the goal is not to scrutinize but to encourage activity, as more activity generally leads to more dealership sign-ups. He also discusses the pending and activated install lists, noting that there are currently 10 pending installs and 80 activated dealerships. Michael then goes through the list with Joel and Julio to confirm which dealerships have been kicked off and which still need attention. Dealership Integrations and Installations Updates Michael provides updates on various dealership integrations and installations. He has added instructions for integrating with different DMS systems in the agent drive. Michael emphasizes the importance of creating separate lines for F&I Express installations and dealer timelines on the install list. He is developing a new module for independent dealerships with a simplified menu presentation process. Michael also mentions updates to dealer agreements and asks for feedback on any needed changes. The team briefly discusses the recent acquisition of Deal 5 by Automotive, with Michael advising to pause any Deal 5-related activities for now. Fee Increase Concerns in New Program Michael expressed concerns about the new program, including a significant fee increase and the loss of profit on back-end sales. Joel shared some information about the changes, but was still gathering details. The team discussed the potential impact on their relationship with Alpha, with Michael stating they still want to grow with them despite the issues. Joel mentioned some dissatisfaction from dealerships using the program, and the team compared it to Spirit Airlines, highlighting the numerous additional fees. Dealfi Platform Changes and New Markets Michael discusses the potential changes to the Dealfi platform, including the addition of new lenders and increased costs for dealerships. He advises pausing until more information is available and plans to follow up in the next couple of weeks. The team considers their bargaining power due to Elitefi representing 25% of Dealfi's business and discusses the possibility of grandfathering in existing dealerships. Michael also introduces two new market opportunities: credit unions and semi-truck dealerships. He suggests that these markets are less saturated with agents and could provide new business avenues. The team discusses the potential benefits of integrating with credit union systems and the challenges of understanding semi-truck warranty programs. Scheduling and Sales Strategy Discussion Michael, Joel, Steve, Don Lown, and Don Brady discussed their schedules and plans for the week. Michael and Joel plan to go on the road together, possibly at separate times, while Steve will be in Savannah all day on Thursday with Rob. Don Lown will be in Indianapolis from Monday to Wednesday and plans to stay there to market in the area. Don Brady expressed his struggles with juggling tasks, particularly with tax time, and his desire to focus more on sales. Michael offered to help Don Brady with the credit union program and suggested a call to discuss strategies. Service Provider Comparison and Selection In the meeting, Michael discussed the pros and cons of different service providers, including GWC, AGWS, and Alpha. He highlighted GWC's niche in their powertrain plus program and its aggressive pricing. Julio added that GWC is a good option for European cars and high mileage vehicles. Steve expressed interest in adding GWC to his existing service providers to offer an alternative. The team also discussed the varying strengths of each provider based on the type of vehicle and mileage. AI-generated content may be inaccurate or misleading. Always check for accuracy.

Meeting Recording

3/17/2025

Meeting Summary for EliteFI Weekly Team Meeting Mar 17, 2025 09:29 AM

Quick recap

The team discussed their current locations, weather conditions, and car preferences before reviewing their performance metrics for the week, including calls made, emails sent, dealer visits, and sign-ups. They then shared recent experiences, including travel and weekend activities, before discussing takeaways from a recent summit and upcoming plans and tasks. Finally, the team touched on Julio's upcoming trip to Cancun and plans to contact him during his vacation. Next steps All team members to mark dealerships as "kicked off" on the pending install list once they have been activated. Steve to contact Randy to get Alpha dealerships added to his agent portal. Steve to obtain a PWI contract or coverage information and send to Michael. Michael to update the F&I Express enrollment process in the pending install list. Joel and Michael to visit Chapman stores together on Thursday. Blake and Don to meet with Trevor Marin at his dealership. Jake to follow up with Jim McCormick about DOWC. Emilia to look up the email review regarding DOWC agreement issues. Summary Car Preferences and Weather Discussion Rob and Michael discussed their current locations and weather conditions. Michael mentioned they were on the road and had a rental car. Blake asked about the weather and Michael confirmed it was beautiful. They also discussed their car preferences, with Michael having a white car and Blake having a Honda Civic. Steve mentioned his preference for black cars. Julio joined the meeting and asked about the brackets, but no further details were provided. Team Performance Metrics Discussion The team discussed their performance metrics for the week. Jake reported 15 calls, 10 emails, and no dealer visits or sign-ups. Blake made 8 phone calls, 20 emails, and 25 store visits, with 2 sign-ups. Steve made 42 calls, 28 dealer visits, and 44 emails, with 3 social media posts and 2 sign-ups. Julio reported 30 calls, 18 dealer visits, and 15 emails, with 3 social media posts and 2 sign-ups. Joel made 16 calls, 32 dealer visits, and 11 emails, with 1 sign-up. The team also discussed their use of timeline entries and social media posts. Team Shares Vegas Trip Experiences The team discussed their recent experiences, with many members sharing their travel and weekend activities. They also shared their experiences from a recent trip to Vegas, with some members feeling unwell after the trip. The team also discussed the challenges of pacing oneself well during a trip to Vegas. Dowc's Acquisition Strategy and Agent Agreements The team discusses takeaways from a recent summit, with iPad noting that Dowc made a strong push to acquire new business. Michael mentions that agent agreements for Lojack and Ia are under review by Oscar. The team also reflects on their past experience with Dowc, with Emilia recalling that Oscar had significant objections to their agreement. iPad shares insights about Dowc's approach to agent relationships and their success in the European market. The conversation then shifts to Jim McCormick, a former Dowc representative who is now working with the team, and iPad's plans to meet with him. Team Discusses Upcoming Plans and Tasks In the meeting, the team discussed their upcoming plans and tasks. iPad mentioned plans to visit small dealerships and check in with deals unlimited. Blake shared his plans to go to Chicago and then to Mexico. Joel discussed his plans to make outbound calls and visit stores. Steve mentioned his plans to finish up emails and calls, visit a former coworker, and follow up on dealer finalizations. Michael offered to accompany Joel on his visits. Julio's Cancun Vacation and Birthday Julio is leaving for Cancun in 20 minutes, having initially planned to leave the previous day. He is flying out of Hermosillo, Mexico, which is approximately 3 hours from Tucson. The flight to Cancun is cheaper from Hermosillo than from Phoenix. Julio is also celebrating his birthday on the 20th. Joel and Michael plan to contact Julio during his vacation for assistance.

Meeting Recording

3/10/2025

Meeting summary for EliteFI Weekly Team Meeting (03/10/2025)

Quick recap

The meeting covered various aspects of the company's operations, including team performance, product offerings, and potential new partnerships. The team discussed their recent activities, introduced new products like Apex and Edge, and explored opportunities in power sports and vehicle tracking services. They also reviewed pricing comparisons, discussed potential new programs, and agreed to continue their meetings on a weekly basis. Next steps • Steve to scan and send PWI brochure to Michael for inclusion in the Agent Driver under the Other Admins tab. • Michael to add PWI brochure to the Agent Driver and create a comparison document with other administrators. • Don and Rob to discuss and schedule a trip to Beaufort, potentially in the last week of March or early April. • Michael to review agency agreements for IA and Lojack with the attorney. • Michael to add IA and Lojack as new product offerings, pending attorney review. • Brian (Endurance) to email apex, valuemax, and auto secure sell sheets to the team. • Brian (Endurance) to update the demo for EliteFI with proper products (apex, EV, value Max, and value Max complete). • Brian (Endurance) to have a follow-up conversation with Steve about product matching in F&I Express. Summary Team Performance and Upcoming Appointments In the meeting, the team discussed their recent activities and performance. Steve reported 53 calls, 32 dealer visits, and 17 emails over two weeks, with an upcoming appointment to sign up a customer. Julio shared his numbers, including 50 calls, one sign-up, and 20 emails. Don Lown mentioned 22 dealer visits and plans to follow up. Don Brady reported a light week due to the Vegas trip and working at the dealership. Blake shared his numbers, including 15 to 20 visits, 15 emails, and 5 to 8 calls. The team also discussed the agent portal's new tracking feature. The conversation ended with a brief introduction to the power sports program by Brian and Harry from Endurance. Company Growth and Marketing Strategies BB discussed the company's history, growth, and current operations. He mentioned that the company has been around for 20 years, started with 6 employees, and now has almost 1,000 employees. He also highlighted the company's marketing efforts, including a partnership with Danica Patrick and a potential partnership with Ludacris. BB also mentioned that the company sold a record 35,000 policies last month on their direct side. He further discussed the company's ownership by Transportation Resource Partners and the role of Paul Shanowski, the chairman of the board. BB also talked about the company's core product, Apex, which has been tweaked three times and is about to be tweaked again. He mentioned that the company is working on a new product called Edge, which will be released in the next 60 to 90 days. BB also introduced the claims liaison, Jeff Roberts, who oversees the dealer Service space. Robert asked about the differences between Apex, Value Max, and Secure Care, to which BB explained that Secure Care is a better product on the suite. Auto Secure Product Overview Meeting BB discussed the new auto secure product, which has a 5, 75, and a 10,000 limited liability for different levels. He also mentioned the value Max product, which has been on the market for 2-3 years and includes maintenance oil changes, batteries, and windshield blades. BB suggested that if a team wants both value Max and Valuemax complete in a dealership, he would be happy to help. He also introduced the apex product, which is their core product and is suitable for the franchise space. BB offered to email the team with cell sheets for all the products discussed. Stevegannon asked a question about pricing comparison, but the transcript does not provide enough information to summarize his question. Ancillary Products Transition and Clarification BB discussed the transition of their ancillary products from Cargo to AGWS, with the change expected to occur sometime in 2025. He assured that their rates would not change for a year after the switch. Steve had difficulty matching the product titles in F and I Express to BB's sheet, which BB agreed to clarify separately. BB also introduced Terry Taylor, who joined to discuss the power sports part of their offerings. Power Sports Service Contracts Overview Terry discussed the features of their power sports service contracts, including exclusionary coverage for new and used vehicles, modifications options, and commercial use options. He highlighted the competitive pricing and the inclusion of a menu with the rating system. Robert and BB clarified the use of PC My as the system for new dealers and the availability of the menu when a new dealer is imported. Terry also introduced the Apex power sports program, which covers on-road and off-road motorcycles, personal watercraft, snowmobiles, and all-terrain vehicles. He emphasized the importance of putting new dealers on a retro program to manage risk, especially in power sports with high loss ratios. Power Sports Demo Setup Discussion BB confirmed the addition of power sports for everyone into the demo for the Vsc Gap tire and theft. Michael expressed appreciation for the team's time and requested a follow-up on the demo setup. Don shared his thoughts on the program, noting that it has some strong features, particularly for snowmobiles. Michael discussed the value of the Value Max Complete program, which includes maintenance costs in addition to the service contract. Steve compared the prices of the program to those of AGWS and Alpha, noting that they were competitive in the tire and wheel category. The team agreed to continue the discussion next week, with some members absent. New Programs IA and Lojack Michael discussed the potential of two new programs: IA and Lojack. IA offers a unique service where they can pay a percentage of the deal and handle the training and servicing, allowing agents to expand into new markets without having to physically service the accounts. Michael also mentioned Lojack, a software provider with an impressive product. Both IA and Lojack's agreements are being reviewed by their attorney, with the aim of bringing them on as products they offer. LoJack vs Recover to Cardone Michael discussed the benefits of a new product, which is powered by the vehicle and offers live tracking, geofencing, and theft benefits. The product can be installed as a pre-install or upgraded in the finance office. It also offers a deductible reimbursement for garage liability and theft benefits. Steve shared his experience with a similar product at his previous dealership, highlighting the potential for headaches with technician installation. Robert suggested offering both LoJack and Recover to Cardone, emphasizing the value of the deductible reimbursement and higher theft benefit. Steve also noted the name recognition of LoJack in California, which could influence insurance discounts. Contract Comparison Tool Discussion Michael discussed the need to improve the tool for comparing contracts between administrators, with Steve mentioning a potential vendor, Pwi Preferred Warranties. Michael agreed to receive a brochure from Steve for further research. The team agreed to continue their meetings at the same time next week. Don mentioned a potential visit to Beaufort, but needs to coordinate with Rob. AI-generated content may be inaccurate or misleading. Always check for accuracy.

Meeting Recording

2/24/2025

Meeting Agenda 2/24 ●

Rob - Activity Log Updates ● Michael - ○ Create a module for Word Tracks for follow-up calls. Customers that didn't purchase a VSC ○ We still need to create Independent Dealer Training Modules ■ Mike & Chris Wawee, Tuesday night ■ Wednesday - Indep Training module ○ Added Social Media Content to the agent portal/file library ○ Joels Week - Door Knocking - Calling lists - Following up with some stores ○ Steve Week - Local next two days for appts - following up on a couple of other dealers. He wants to go to Myrtle Beach. Thursday - ○ Jake - This week, local is today, Lake Shore is tomorrow, and dinner is Tuesday night. Possibly going out with Rob or Blake ○ Today - Local - Colorado Kick offs, Tomorrow - Michigan City or Lansing Door Knoking. Wed-Thur Detroit. Friday, going out. ○ Changes to Pending Install List ○ Innovation & Thought Ideas (5 minutes for each agent to pitch) ● Emilia - ● Joel - ● Blake - Re Colorado - Integrate with specialized RV and ps virtual FI - great way ● Joel - A tool to blend ratings to see the best program. ● Steve, ● Julio - ● Brady - ● Lown - ● Jake- ○ Elite FI Partners CRM - ■ Dealership CRM - Named Elite Relationship Management. Integration ■ VinSolutions and 4-5 other companies

Meeting Recording

2/17/2025

Meeting Agenda 2/17 ● Michael - ○ Weekly Activity Log ○ Agenda - Copied weekly to the Agent Drive ○ This week's Marketing Plan: ■ Mike - Denver & Dallas (Wednesday - Thursday) ■ Jake - Kalamazoo - Deals Unlimited Monday - Chicago 2-3 days this week. 3 kick offs this week. ■ Blake - Gr on Monday - HL -Tuesday - Saginaw - Wilson Ford - Texas Wed- Thursday - Need to call Ali at Roadrunner - Detroit on Friday Possibly ■ Rob - Computer day Monday - Service GR Tuesday - Wed - Friday with Lown. Marketing different markets ■ Steve - Today, going to Right Choice - Hilton Head BMW friends with Lown - possibly work together on a future visit ■ Brady - Monday- Wednesday - Following up on visits - Thursday - Friday Columbus Oh make some visits ■ Lown - Lansing - possible visits, Thursday in GR, Alpine, Cedar a couple of places ■ Julio - Today Tucson, Tuesday possibly California, Wed- Friday in Phoenix ■ Joel - Phoenix this week, Several Kickoffs, DealFI & Alpha FollowUps. Thursday at Chapman stores. Chapman is about timing. ○ Attending Agent Summit - Confirming who is attending ■ Currently attending 1Rob, 2Jake, 3Blake, 4Julio, 5Iren, 6Emilia, 7Michael, 8Don 9Brittany Possibly 10Lindsey 11Jeany 12Erika ■ Dinner with Alpha Monday Night (Javiers Restaurant) ■ Tuesday Night - ■ Wednesday Night (Golden Knights Hockey with AGWS) ● Emilia - ● Rob - Wise F&I - ● Joel - DealFI in Utah - Indep Auto Association - ● Jake - Follow up on Gap Rates ● Blake - no direct integration with dealer cloud. ● Joel - How can we help with Chapman? They move at a snail's pace. ● Steve, how are the new sign-ups doing? How is marketing going ● Julio - Dealercenter's new NAAC partnership - no chargeback options covers up to 3000, will do 12 in lifts, will do modified vehicles ● Brady - all good ● Lown - Welcome to the team ● Innovate Spotlight - Next week give a 5-minute pitch on an idea that innovates and impacts our space.