How to Make Dealers Happy?

How does an automotive lender make dealers happy these days? Very carefully, replies Tom Wirth, president of U.S. Bancorp's Indirect Dealer Group. His answer reflects a current cautious mood of the auto-financing industry. It hasn't been hit hard like its stunned home-mortgage counterpart. But it is dealing with tighter credit, higher risks and a weakened economy all of which makes automotive lending

How does an automotive lender make dealers happy these days?

“Very carefully,” replies Tom Wirth, president of U.S. Bancorp's Indirect Dealer Group.

His answer reflects a current cautious mood of the auto-financing industry. It hasn't been hit hard like its stunned home-mortgage counterpart. But it is dealing with tighter credit, higher risks and a weakened economy — all of which makes automotive lending trickier than ever

“You won't see in auto lending the excesses we've seen in the mortgage market,” says Andrew Fornarola, senior vice president, M&T Bank Corp. “But we are clearly dependent on the economy, and we're going to feel it.”

Adding to the angst is that dealers and lenders are facing many would-be car buyers with a basketful of credit challenges.

Those can include diminished credit scores, maxed-out credit and negative equity on their current vehicles. It makes getting customers into a new vehicle tough for dealers, who are feeling their own pain.

“A lot of people are under personal pressure,” Adam Goldfein, a former dealer, says. “It pushes them into risk situations. If you understand this, you understand what dealers are going through.”

Vehicle sales are off, with the seasonally adjusted annual rate “is dropping like a stone,” says Goldfein, who hosts a CBS radio automotive talk show. “There is less margin for dealers, less to walk away with.

“They are under a lot of pressure and they are going to be looking for new (finance and insurance) products for new revenue.”

Dealers also are trying to finance as many car deals as possible. In a year of fewer vehicle transactions, auto retailers are loath to lose a prospective sale because of financing problems.

That has led to greater risks and extended loan terms that are intended to make monthly payments more palatable, but instead are becoming an industry bane.

“Customers are having a tough time making ends meet,” Goldfein says. “These days, you never hear, ‘I have 10% or 20% for a down payment.’”

Now, it's: “How many years can I have to pay off this car.” It has led to code-red 7- and 8-year auto loans.

“When I started in the business, the typical loan term was 36 months,” Goldfein says. “Forty-eight months was a stretch. Sixty months was, ‘Are you crazy?’

“Today, 60 is short, 72 is the norm and 84 and 96 are not uncommon. I'm waiting for (loan application software) to be reprogrammed for three digits.”

In 2003, 72-77 month terms accounted for 21.5% of auto loans and climbed to 39.8% through March of this year, according to the Power Information Network.

Five years ago, 84-89.9 month terms were almost unheard of, accounting for just 0.8% of auto loans. Now they are at 4.1%.

Longer loan terms are becoming so common “they're not called ‘extended’ terms anymore; they're the terms,” says Fornarola.

He and other lenders discussed market trends and industry concerns as panelists at the Consumer Bankers Assn.'s auto financing conference in San Francisco.

Long-term loans take car buyers out of the market for protracted periods, as well as increase the chances of loan defaults, a nasty situation for all concerned.

“It is amazing how nice people are when you are giving them money, and how mean they can be when you are dealing with them as a loan defaulter,” says Wirth, a conference panelist.

A near-certainty for long-term loans is that they ultimately result in negative equity, with the customer owing more on the vehicle than it is worth.

The No.1 question Goldfein gets asked on his call-in radio show is, ‘How do I deal with negative equity?”

Other common questions are: “Can I return my car? Can I refinance, because something has come up? If I voluntarily repossess my vehicle, can it ruin my credit?”

Yes, it can. But some consumers don't care or are deeply ignorant of how credit worthiness works.

Goldfein tells of being at a dealership where a “regular-looking guy wearing nice clothes” got rejected for an auto loan because his credit score was abysmal.

“I asked him why,” Goldfein says. “He looked at me with a smile and said, ‘No one pays their bills.”

That cavalier attitude may be contagious.

“People call my show and say, ‘My credit sucks,’” Goldfein says. “And they aren't even embarrassed about it. That's what gets me.”

Loan-risk models now take into account such changes in mind-set, Wirth says. “Before, bankruptcy was shameful. Now, people talk about it as a personal topic, and they talk about it in the suburbs.”

It has resulted in lenders insisting more than ever that dealerships get accurate and honest customer information for loan applications.

“Our attitude is trust but verify,” Wirth says. “A statement of income is not proof of income. It can be a statement of a lie.”

Subprime lenders check out everything on vehicle loan applications, says William Jensen, a senior vice president at Chase Automotive Finance.

“Verifying everything benefits everyone,” he says. “I don't have to evaluate character because, being in subprime, all my customers are characters.”

Many of them have a 60-hour-a-week budget and a 30-hour-a-week income, he says. In other words, they spend more than they earn.

But there are loan risks today even if a dealership customer has a high score on the Fair and Issac Corp. (FICO) system that ranks creditworthiness from 300 to 900 points.

“If you believe every loan is going to do great because it has a 740 FICO score, you are kidding yourself,” says Nichaols Stanutz, senior vice president at Huntington Bancshares Inc.

A lot of prime customers are becoming stressed, Jensen says. “A lot of prime customers are becoming near-prime.”

Adds Fornarola: “Relying on FICO alone is a disaster. The anxiety is that models of today probably can't work three or four years from now because of where the economy is headed.”

But there are positives and valuable lessons that can be learned from tough times.

“This cycle we are in gives us an opportunity to cure some things,” Jensen says. “It's a reality check for everyone. A time of chaos is a chance to change.

“Cycles come and go. You learn from each and improve your business and eliminate the big mistakes.”

While sales volumes are important, it also is important not to fixate on volume, Stanutz says. “Volume is vanity and profit is sanity.”

Goldfein sees vehicle leasing as a solution to the problem of consumers entering into overextended loan agreements to obtain vehicles they really can't afford to buy.

“Is leasing resurrecting Frankenstein?” he says, referring to leasing falling out of favor earlier this decade because of abuses and big losses.

He doesn't think modern leasing is a monster. But when he suggests leasing to people as an alternative to buying a vehicle so they don't get in too deep financially, “they'll say, ‘No, no, no. I don't like leasing.’

“My response is, ‘What's wrong with leasing?’” Goldfein says. “It is beneficial if done right. Just because you tried something a long time ago, doesn't mean you shouldn't try it again.”

Rank Dealership Owner/Principals City ST New Units Used Units Total Units Total Revenue F&I Revenue
1 Dave Smith Motors Ken Smith Kellogg ID 11,003 2,298 13,301 $486,359,607 $16,038,993
2 Galpin Ford Herbert F. Boeckmann II North Hills CA 6,149 3,389 9,538 $331,329,932 $15,104,812
3 Bill Heard Chevrolet, LTD William T. Heard Sugarland TX 3,870 3,645 7,515 $219,131,000 $14,678,000
4 Toyota of Orange David Wilson Orange CA 6,501 2,107 8,608 $207,152,636 $13,788,344
5 Hudson Toyota Scion Penske Automotive Group (Formerly United Auto Group) Jersey City NJ 6,064 1,908 7,972 $195,763,748 $13,163,572
6 Landmark Chevrolet, Ltd William T. Heard Houston TX 4,193 4,193 8,386 $224,877,000 $12,456,000
7 Trophy Nissan Bill Adkins/Jim Whitesel Mesquite TX 3,862 2,999 6,861 $177,666,196 $12,379,647
8 Roseville Toyota John L. Sullivan Roseville CA 4,539 3,226 7,765 $204,021,108 $12,194,187
9 Courtesy Chevrolet Phoenix William Gruwell Phoenix AZ 3,110 2,980 6,090 $180,325,029 $11,980,235
10 Right Toyota David Wilson Scottsdale AZ 5,885 1,545 7,430 $203,853,652 $11,777,506
11 Midway Chevrolet John Cleaves Phoenix AZ 4,623 2,685 7,308 $221,407,047 $11,562,083
12 Lustine Toyota Scion Dodge Jeep Burton Lustine Woodbridge VA 4,741 1,017 5,758 $157,835,000 $11,159,000
13 Toyota of Riverside David Wilson Riverside CA 4,752 1,520 6,272 $153,178,439 $10,553,343
14 South Bay Toyota David Wilson Gardena CA 4,351 1,612 5,963 $153,900,129 $10,547,554
15 Joe Myers Toyota Jerry Rocco Houston TX 5,640 3,062 8,702 $205,874,600 $10,354,852
16 Appleway Chevrolet AutoNation Inc. Spokane WA 3,117 1,997 5,114 $142,392,247 $9,897,841
17 Bill Heard Chevrolet, Inc.-Union City William T. Heard Union City GA 3,004 2,059 5,063 $127,244,000 $9,746,000
18 Camelback Toyota John O'Malley Phoenix AZ 4,938 2,368 7,306 $195,188,754 $9,596,673
19 Bill Heard Chevrolet, Inc.-Scottsdale William T. Heard Scottsdale AZ 2,695 1,572 4,267 $114,872,000 $9,456,000
20 Fletcher Jones Motorcars Fletcher Jones Jr. Newport Beach CA 6,223 2,109 8,332 $571,082,030 $9,434,567
21 Crevier BMW Donald Crevier Santa Ana CA 4,217 1,328 5,545 $287,227,084 $9,308,459
22 Larry Miller Toyota Larry H. Miller Peoria AZ 4,206 1,927 6,133 $161,255,288 $9,286,167
23 Bill Heard Chevrolet, Inc.-Plant City William T. Heard Plant City FL 2,559 1,766 4,325 $116,944,000 $9,277,000
24 Classic Chevrolet, Ltd Tom Durant Grapevine TX 5,698 2,463 8,161 $281,404,736 $9,105,769
25 Capitol Toyota AutoFocus, Inc. San Jose CA 5,071 1,511 6,582 $169,295,163 $9,027,542
26 David Maus Toyota David Maus Longwood FL 5,726 1,800 7,526 $190,101,934 $8,997,360
27 Puente Hills Toyota/Scion Frederick E. Hitchcock City of Industry CA 4,952 1,240 6,192 $160,273,981 $8,991,497
28 ABC Nissan Jay Carley Phoenix AZ 2,685 2,062 4,747 $136,828,984 $8,834,823
29 Vandergriff Honda Charlie Evans Arlington TX 2,925 2,412 5,337 $128,253,797 $8,831,005
30 Showcase Honda Tom Buis Phoenix AZ 3,330 2,184 5,514 $147,643,269 $8,622,419
31 Toyota of Huntington Beach David Wilson Huntington Beach CA 4,052 1,268 5,320 $128,780,251 $8,498,892
32 Towbin Dodge Daniel Towbin & Carolynn Towbin Henderson NV 2,303 2,975 5,278 $128,971,375 $8,215,015
33 McCombs Ford West Marsha Shields San Antonio TX 2,239 2,588 4,827 $98,166,324 $8,205,900
34 Bell Honda John Cleaves Phoenix AZ 2,789 1,808 4,597 $114,898,722 $8,174,530
35 Red McCombs Toyota & Scion Marsha Shields San Antonio TX 4,541 2,233 6,774 $179,992,557 $8,128,800
36 Braman Motorcars Norman Braman West Palm Beach FL 4,850 1,599 6,449 $430,388,387 $8,030,407
37 Fred Haas Toyota World Fred Haas Spring TX 8,022 3,034 11,056 $286,789,507 $7,928,777
38 Midway Nissan John Cleaves Phoenix AZ 2,392 1,805 4,197 $110,577,691 $7,892,664
39 Gwinnett Place Honda Hendrick Automotive Group Duluth GA 4,686 1,764 6,450 $183,257,527 $7,847,844
40 AutoWay Chevrolet - Clearwater AutoNation Inc. Clearwater FL 1,044 3,141 4,185 $97,534,962 $7,844,311
41 AutoWest Chrysler Jeep Dodge Roseville AutoNation Inc. Roseville CA 1,421 2,813 4,234 $121,923,808 $7,830,852
42 Chapman Chevrolet, LLC John H. Chapman Tempe AZ 2,075 3,456 5,531 $132,166,412 $7,647,765
43 Mark Christopher Auto Center Mark/Christopher Leggio Ontario CA 3,487 1,144 4,631 $205,906,077 $7,640,466
44 DMT Automotive Enterprises Donald Toresco Springfield NJ 6,626 1,195 7,821 $135,467,805 $7,605,366
45 Elmore Toyota Judith Elmore Westminster CA 3,822 1,118 4,940 $125,117,436 $7,466,078
46 John L. Sullivan Chevrolet John L. Sullivan Roseville CA 1,381 2,493 3,874 $131,120,367 $7,387,904
47 Cerritos Nissan Peter Fice Cerritos CA 2,994 1,329 4,323 $124,798,743 $7,222,378
48 Toyota of Dallas Bill Adkins/David Kelly Dallas TX 3,517 1,589 5,106 $141,755,752 $7,207,022
49 South Coast Toyota David Wilson Costa Mesa CA 3,773 1,115 4,888 $125,413,400 $7,197,860
50 Earnhardt Ford Sales Company Hal J. Earnhardt III Tempe AZ 3,115 2,752 5,867 $170,072,631 $7,152,479
51 Braman Honda Norman Braman Miami FL 5,018 2,570 7,588 $206,772,487 $7,102,854
52 Millennium Toyota John Staluppi Sr. Hempstead NY 4,350 1,266 5,616 $150,743,230 $7,085,000
53 Atlantic Toyota John Staluppi Sr. Amityville NY 3,532 1,825 5,357 $148,105,211 $7,023,000
54 Sam Galloway Ford Lincoln Mercury Sam M. Galloway Fort Myers FL 3,210 1,679 4,889 $165,059,380 $7,004,893
55 Bill Heard Chevrolet Corp.-NW Las Vegas William T. Heard Las Vegas NV 1,705 1,655 3,360 $103,584,000 $7,004,000
56 Michael Cadillac, Inc. Michael L. Rosvold Fresno CA 4,165 1,764 5,929 $202,055,918 $6,984,607
57 Northside Ford Gary Woods San Antonio TX 3,130 2,205 5,335 $128,766,311 $6,935,500
58 Bill Heard Chevrolet Corporation-Orlando William T. Heard Sanford FL 3,350 1,713 5,063 $144,701,000 $6,916,000
59 Honda Cars of McKinney Hendrick Automotive Group McKinney TX 3,019 1,577 4,596 $118,720,744 $6,809,099
60 Van Chevrolet Chuck Mullins Scottsdale AZ 2,723 2,082 4,805 $163,001,901 $6,794,980
61 AutoWay Chevrolet - Tampa AutoNation Inc. Tampa FL 597 2,269 2,866 $73,312,229 $6,779,426
62 Vandergriff Toyota Ronnie Whitlock Arlington TX 3,823 2,241 6,064 $148,358,141 $6,656,938
63 Joe Myers Ford Bill Tennant Houston TX 2,448 2,203 4,651 $141,462,765 $6,622,472
64 Red McCombs Ford Marsha Shields San Antonio TX 2,443 2,270 4,713 $114,590,731 $6,598,200
65 Universal Toyota & Scion Gary Woods San Antonio TX 3,757 1,978 5,735 $147,731,991 $6,595,250
66 AutoWay Dodge AutoNation Inc. Clearwater FL 1,106 1,718 2,824 $76,893,532 $6,540,912
67 Ancira Winton Chevrolet Inc. Ernesto Ancira, Jr. San Antonio TX 2,573 1,996 4,569 $123,038,311 $6,499,805
68 Bill Heard Chevrolet at Town Center, LLC William T. Heard Kennesaw GA 2,916 2,038 4,954 $131,886,000 $6,478,000
69 Pinnacle Nissan/Infiniti John Cleaves Scottsdale AZ 2,958 1,948 4,906 $152,101,456 $6,477,516
70 AutoWay Honda AutoNation Inc. Clearwater FL 1,423 1,757 3,180 $85,717,152 $6,468,075
71 Ed Morse Sawgrass Auto Mall Edward J. Morse, Jr. Sunrise FL 2,273 831 3,104 $111,631,936 $6,436,428
72 Northridge Toyota/Scion Frederick E. Hitchcock Northridge CA 2,698 658 3,356 $90,030,168 $6,431,003
73 Westbury Toyota Scion Penske Automotive Group (Formerly United Auto Group) Westbury NJ 4,137 1,107 5,244 $136,186,439 $6,425,293
74 Carr Chevrolet, Inc. Wallace Preble/Gene Bradshaw Beaverton OR 2,433 3,986 6,419 $181,277,032 $6,403,626
75 Desert Volkswagen AutoNation Inc. Las Vegas NV 1,372 1,208 2,580 $110,498,692 $6,302,197
76 Bill Heard Chevrolet, Inc.-Collierville William T. Heard Collierville TN 2,243 2,088 4,331 $126,729,000 $6,299,000
77 Hendrick Honda NC Hendrick Automotive Group Charlotte NC 3,961 2,156 6,117 $157,177,311 $6,281,367
78 AutoWay Lincoln-Mercury AutoNation Inc. Clearwater FL 958 2,133 3,091 $90,892,647 $6,277,458
79 Gaudin Motor Co Gary/Dan Ackerman Las Vegas NV 2,889 2,369 5,258 $207,571,279 $6,195,183
80 Chapman Scottsdale Autoplex, LLC J. Baxter Chapman Scottsdale AZ 3,221 2,603 5,824 $205,016,536 $6,164,382
81 Reliable Chevrolet Mike Reynolds Springfield MO 2,189 2,672 4,861 $129,695,998 $6,129,749
82 AutoWay Ford - St. Petersburg AutoNation Inc. St. Petersburg FL 1,204 1,617 2,821 $78,541,798 $6,111,664
83 Charlie Hillard Ford AutoNation Inc. Ft. Worth TX 1,315 2,599 3,914 $96,842,084 $6,103,695
84 Rosenthal Fairfax Honda Robert Rosenthal Fairfax VA 3,531 1,167 4,698 $125,637,925 $6,067,274
85 Bill Heard Chevrolet Corp.-Las Vegas William T. Heard Las Vegas NV 2,138 1,522 3,660 $123,554,000 $6,051,000
86 Bill Heard Chevrolet, Inc.-Huntsville William T. Heard Huntsville AL 2,349 1,469 3,818 $115,679,000 $6,032,000
87 South Bay BMW/Mini Frederick E. Hitchcock Torrance CA 3,593 1,054 4,647 $240,915,461 $6,016,908
88 Reliable Chevrolet/Nissan Kurt Jones Albuquerque NM 2,102 1,245 3,347 $96,137,474 $5,979,789
89 Central Florida Toyota/Scion Penske Automotive Group (Formerly United Auto Group) Orlando FL 4,148 1,096 5,244 $132,154,176 $5,968,013
90 Toyota of Richardson Steve Grogean Richardson TX 3,398 1,429 4,827 $136,783,109 $5,950,811
91 Bill Heard Chevrolet Company William T. Heard Columbus GA 3,739 1,914 5,653 $177,812,000 $5,949,000
92 Piercey Toyota William R. Piercey/Art Wicker Milpitas CA 3,947 648 4,595 $122,188,197 $5,932,110
93 Atlanta Toyota/Scion Penske Automotive Group (Formerly United Auto Group) Duluth GA 4,404 1,669 6,073 $152,777,658 $5,902,519
94 AutoWay Nissan Brandon AutoNation Inc. Tampa FL 2,513 1,839 4,352 $123,128,968 $5,895,104
95 Chapman Chevrolet Chandler dba Freeway Chevrolet John H. Chapman Chandler AZ 1,302 1,762 3,064 $78,450,987 $5,879,961
96 Hendrick Lexus Hendrick Automotive Group Charlotte NC 2,362 1,339 3,701 $183,355,615 $5,853,560
97 Peoria Nissan Teresa DaCosta Peoria AZ 2,240 1,377 3,617 $96,479,349 $5,798,807
98 J M Lexus JM Family Enterprises, inc. Margate FL 7,537 2,065 9,602 $422,227,848 $5,794,005
99 Chapman's Las Vegas Dodge, LLC John H. Chapman Las Vegas NV 1,221 1,948 3,169 $80,056,471 $5,715,127
100 Honda Cars of Concord Hendrick Automotive Group Concord NC 2,747 1,228 3,975 $106,950,072 $5,667,331
101 Downtown LA Motors Mercedes-Benz Jeanette Shammas Los Angeles CA 2,762 479 3,241 $207,049,094 $5,643,944
102 Bankston Ford of Frisco AutoNation Inc. Frisco TX 1,119 1,582 2,701 $124,032,958 $5,500,653
103 Bankston Honda AutoNation Inc. Lewisville TX 2,869 2,315 5,184 $181,003,228 $5,489,198
104 Champion Chrysler Jeep Isuzu Hyundai Gulf Freeway AutoNation Inc. Houston TX 1,206 2,080 3,286 $85,108,690 $5,468,109
105 Kenny Kent Toyota/Lexus/Mitsubishi Butch Hancock Evansville IN 2,763 1,813 4,576 $128,073,822 $5,408,880
106 Gwinnett Place Ford Casey Coffey Duluth GA 1,586 1,607 3,193 $105,105,191 $5,301,074
107 Burt Toyota Lloyd G. Chavez Englewood CO 3,190 1,642 4,832 $139,669,036 $5,237,162
108 Autowest Honda Roseville AutoNation Inc. Roseville CA 2,891 2,655 5,546 $143,246,369 $5,203,269
109 Lone Star Chevrolet Sonic Automotive Houston TX 3,894 2,058 5,952 $178,598,044 $5,178,480
110 Toyota Scion of Wilmington Hendrick Automotive Group Wilmington NC 2,479 1,187 3,666 $99,209,719 $5,129,731
111 Rock Honda William R. Piercey Fontana CA 3,240 937 4,177 $104,270,098 $5,097,808
112 Earnhardt's Gilbert Dodge, Inc. Hal J. Earnhardt III Gilbert AZ 2,916 2,511 5,427 $145,275,256 $5,084,212
113 Crest Auto Group Van Tuyl Group Plano TX 2,089 1,505 3,594 $164,565,871 $5,080,223
114 Palm Beach Toyota Scion Penske Automotive Group (Formerly United Auto Group) West Palm Beach FL 3,722 1,044 4,766 $118,540,728 $5,069,575
115 Lute Riley Honda Sonic Automotive Richardson TX 4,630 2,142 6,772 $173,228,826 $5,057,269
116 Sam Swope Honda World S.G. Swope Louisville KY 3,222 1,993 5,215 $122,749,988 $5,054,851
117 Cable-Dahmer Chevrolet Inc. Carlos Ledezma Independence MO 1,878 1,479 3,357 $105,937,733 $5,054,227
118 Maroone Chevrolet of Greenacres AutoNation Inc. Greenacres FL 2,210 1,759 3,969 $111,961,825 $5,028,080
119 Wilde Toyota Scion Mark Wilde West Allis WI 3,596 4,087 7,683 $157,133,247 $5,017,137
120 Champion Autoplex AutoNation Inc. Austin TX 1,246 930 2,176 $63,881,762 $5,001,054
121 Crystal Auto Mall Donald Toresco Greenbrook NJ 3,526 825 4,351 $113,244,375 $4,987,520
122 Newport Lexus David Wilson Newport Beach CA 2,945 535 3,480 $165,863,415 $4,978,041
123 Champion Chevrolet Gulf Freeway AutoNation Inc. Houston TX 1,982 1,728 3,710 $105,675,055 $4,973,638
124 Al Serra Auto Plaza Joseph O. Serra Grand Blanc MI 1,224 480 1,704 $221,353,722 $4,947,687
125 Billy Navarre Chevrolet and Honda Billy Navarre Lake Charles LA 2,846 1,723 4,569 $117,013,138 $4,938,290
126 Autowest Honda Fremont AutoNation Inc. Fremont CA 2,190 1,309 3,499 $113,212,090 $4,913,936
127 Gillman Honda (South) Ramsay Gillman Houston TX 4,092 1,377 5,469 $137,113,408 $4,900,967
128 Braman Motors Norman Braman Miami FL 4,530 1,292 5,822 $336,315,879 $4,893,686
129 Hendrick Honda of Woodbridge Hendrick Automotive Group Woodbridge VA 2,592 1,099 3,691 $95,868,735 $4,890,176
130 Rick Case Honda Rick Case Davie FL 8,209 1,896 10,105 $206,573,027 $4,887,873
131 AutoWay Nissan AutoNation Inc. Clearwater FL 1,156 1,302 2,458 $66,003,598 $4,849,584
132 Texas Toyota Bert King Grapevine TX 2,493 1,415 3,908 $105,331,066 $4,795,148
133 Toyota of Fort Worth Sonic Automotive Fort Worth TX 5,528 1,867 7,395 $184,507,181 $4,650,017
134 Honda World Westminster William R. Piercey/Jim Kitzmiller Westminster CA 3,407 1,170 4,577 $117,971,559 $4,647,594
135 Galpin Jaguar Lincoln Mercury, Inc. Herbert F. Boeckmann II Van Nuys CA 4,487 396 4,883 $193,994,376 $4,639,623
136 Brunswick Auto Mart, LLC Gary Panteck Brunswick OH 6,325 1,608 7,933 $195,472,069 $4,637,516
137 City Chevrolet Hendrick Automotive Group Charlotte NC 1,885 1,322 3,207 $114,038,266 $4,635,391
138 Bankston Nissan of Lewisville AutoNation Inc. Lewisville TX 1,676 926 2,602 $88,401,695 $4,623,947
139 Earnhardt Nissan, Inc. Hal J. Earnhardt III Mesa AZ 2,360 1,299 3,659 $91,900,975 $4,558,885
140 Gene Evans Team Ford AutoNation Inc. Union City GA 1,781 1,012 2,793 $79,969,633 $4,543,084
141 Gwinnett Place Nissan Casey Coffey/Rick Williams Duluth GA 2,646 1,410 4,056 $107,710,227 $4,523,358
142 Courtesy Ford (FL) AutoNation Inc. Sanford FL 1,137 1,011 2,148 $63,288,135 $4,490,944
143 Toyota of Concord Hendrick Automotive Group Concord NC 2,447 1,318 3,765 $98,621,196 $4,433,746
144 Fletcher Jones Toyota Fletcher Jones Jr. Las Vegas NV 2,984 1,196 4,180 $121,236,829 $4,431,762
145 Westway Ford Van Tuyl Group Irving TX 1,742 1,063 2,805 $88,853,901 $4,428,430
146 Big Two Toyota Scion of Chandler Chris Hoeye Chandler AZ 4,432 1,262 5,694 $153,279,684 $4,376,082
147 Magnussen's Lexus of Freemont Bernard L. Magnussen Fremont CA 2,180 668 2,848 $138,105,581 $4,372,008
148 AutoWay Ford - Bradenton AutoNation Inc. Bradenton FL 1,240 1,323 2,563 $69,378,518 $4,371,229
149 Larry H. Miller Chrysler-Jeep-Dodge Larry H. Miller Sandy UT 2,168 1,924 4,092 $140,349,196 $4,366,725
150 Rick Hendrick Toyota Scion Hendrick Automotive Group Fayetteville NC 2,311 1,007 3,318 $90,383,239 $4,364,600
Commercial use of the Ward's Dealer F&I 150 is prohibited without prior permission of the Ward's Auto Group. The List is published annually and is based on previous year's finance and insurance revenue and the Ward's Dealer 500 ranking. To update the list, fax dealership information to: Ward's Dealer 500 at 248-357-0809.
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