In this free webinar, industry experts Becky Chernek and Anil Goyal will give an overview of what's causing this credit crisis and what dealers can do to address it.FREE
Auto industry profitability may be at risk from mounting negative equity. As consumers continue to buy cars with little money down and lengthy financing terms, negative equity looks to be on the rise in the near future. Dealers can help curb this trend by training their sales personnel in a few key areas to avoid what Moody’s calls the “trade-in treadmill.”
Attend this webinar to learn:
- What’s causing negative equity and why it will rise in the near term
- Why negative equity is a snowball effect
- How shorter terms and more money down can help buck the trend
- Why leasing is a good alternative to extended terms
- How getting finance involved earlier can lead to a solid deal structure
Rebecca Chernek founded Chernek Consulting, LLC, in 2001 and has nearly three decades of experience in the automobile dealership industry. She began her career working with her father at their family-owned auto dealerships in Have De Grace, Maryland, where she gained hands-on experience in almost every aspect of the automotive sales process, including: new and used car and trucks sales; F&I; Director of Finance for volume operations; and general management throughout the Washington, D.C., area.
Anil Goyal is the Senior Vice President of Automotive Valuation and Analytics at Black Book. Anil oversees the final published values and an industry experienced team of editors and data scientists. Anil is responsible for the editorial and analytic operations at Black Book for all market segments including Canadian market values.
Anil publishes a weekly report “Black Book Market Insights” that highlights analysis and commentary on used vehicle market trends. He often speaks to several industry publications regarding trends and analysis in the automotive industry.
Prior to joining Black Book, Anil worked help a number of senior positions in the banking industry. Anil has a Ph.D. in Decision Sciences and an M.S. in Operations Research from Rensselaer Polytechnic Institute, in addition to a Bachelor’s Degree from Indian Institute of Technology.