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					                               Non-Prime Times
           NATIONAL AUTOMOTIVE FINANCE ASSOCIATION • 7250 Parkway Drive, Suite 510• Hanover, MD 21076
                       800/463-8955 • FAX 410-712-4038 • E-MAIL
                                                    Spring, 2006

                            T h e          the non-prime auto market and, as
                           National        they did last year, will spend one entire
                        Automotive         session answering questions from
         Finance Association's 10th        those in attendance.
Annual Non-Prime Auto Financing             BenchMark Consulting International
Conference will be held June 12 to 14,     will provide a preview of the
2006 at the Renaissance Worthington        Association's Annual Non-Prime Auto
Hotel Fort Worth                           Financing Survey.
  The 10th annual conference contin-        Exhibits of the latest products and
ues the tradition of presenting sessions   services designed especially for the        ble and to reserve hotel rooms. Make
of experts who will address issues         non-prime auto industry, a golf tourna-     your plans by May 19th for the special
affecting both dealers and creditors on    ment the morning of June 12th and an        conference hotel room rate.
topics including: lead generation, auto-   off-site event presented by State
motive finance market in Canada, The                                                    Major sponsors are: DealerTrack,
                                           National Companies round out the
Hispanic market, Investment banking,                                                   Grand Corporate Sponsor; ACS,
                                           conference activities.
rating agency perspectives, safeguard-                                                 AppOne, Inc., PassTime and Regional
                                             Follow the conference link at             Acceptance Corp., Corporate Sponsors;
ing information and marketing and for program          and ARGO Data Resources Corp. and
auction     statistics.    The     NAF     updates, information on sponsorships        Bankers Integration Group, Inc., Golf
Association's legal committee will pro-    and exhibits and for on-line registra-      Sponsors.
vide updates of legal issues affecting     tion for the conference, the golf scram-

                                                   LEGAL BRIEFS
                                                         Steve Levine
                   Ten years ago I made    Conference.                                 experts. We tend to discourage presen-
                 one of my best career       One of our early mottos was “the          tations that are nothing more than
                 decisions when I          Association that works,” which sym-         “info-mercials” for a particular product
                 decided to get involved   bolized the fact that membership was        or service, and take audience feedback
                   with the start-up       more than joining a group and having        very seriously.
   Steve Levine NAF Association.
                                           an excuse to attend a boondoggle away         Our June Conference, which will take
Our early meetings were dedicated to       from the office. Over the years we’ve       place in Fort Worth Texas from June 12
identifying the serious issues affecting   tackled many serious issues, such as        to 14, promises to be both a celebra-
our industry, formulating a strategy to    developing uniform industry metrics,        tion of what we’ve accomplished and
bring about stability to a tumultuous      bringing dealers and finance compa-         an ambitious look at where we are and
environment and become a unified           nies together and serving as an infor-      where we’re headed. As Chair of our
voice for the non-prime segment of the     mational resource to the Federal Trade      Legal Committee, I’ve been working
auto finance community. It’s hard to       Commission. Our conferences have            with our members to develop a mean-
believe that nearly a decade has passed    the reputation of being packed with         ingful presentation that will give you
and that this June our association will    knowledgeable speakers and industry         tools to impact your business. We plan
be sponsoring our 10th Annual
                                                                                                         CONTINUED ON PAGE 3.
                                           LETTER         FROM THE           PRESIDENT
                    I hope this finds           & Expo begins.                                    In closing I encourage everyone to
                  everyone well and               Membership continues to grow                  not only attend our workshop March
                  prosperous after a            thanks to the hard work of our mem-             28 in San Antonio and annual confer-
                  successful National           bers who consistently encourage                 ence in Fort Worth but also to invite
                  Automobile Dealers            industry leaders to join NAF                    non-members in hopes they will see
                  Association conven-           Association. We expect Benchmark                both the benefit of NAF Association
                  tion in Orlando.              Consulting International to produce             and leave more educated about the
    Paul Snider   Our association con-          another excellent survey this year and          non-prime finance industry. I am per-
                  tinues to develop             our 10th annual conference will be the          sonally proud to be part of an associa-
solid programs that enhance the over-           best ever, thanks to the dedication of          tion that accomplishes so much, and I
all benefits of being an NAF                    Jack and Mary Ellen Tracey, plus the            thank everyone for your support of our
Association member.                             many members and officers who have              programs and encourage others to
 The Education Committee strives to             helped secure top quality speakers.             become part of an association that
develop workshops that will appeal to                                                           strives year after year to make a differ-
                                                  I want to offer a personal thanks to          ence in an ever changing business!
all members. We concluded 2005 with             the finance companies who so gener-
another successful workshop and are             ously donated money, flyers and sup-             Paul Snider is CEO, CIQ, Inc./VOISYS
only weeks away from our first one this         port to increase attendance at the con-         and president NAF Association.
year, the day before Rick Sly’s World of        ference in June plus the many vendors
Special Finance Magazine Conference             who will exhibit.

                             NEW MEMBER: CHERNEK CONSULTING, INC.
  Adages abound regarding how to succeed        trucks and both new and used cars and,          would work for others. The system was
in life. Perhaps one of the most often quot-    within a year, she was promoted to finance      simple. It allowed dealership personnel to
ed is that anything is achievable, if we put    and insurance. Becky’s philosophy was           present 100% of their products to every
our minds to it. Donald Trump certainly         simple. She would not take NO for an            customer 100% of the time . . . and within
believes this is true. He has said that if      answer! Her goal was to earn a successful       a matter of minutes. It engaged customers
we’re going to think anything, we might as      career in automotive retail sales, despite      in the presentation, and rather than
well think big. Sam Walton, the founder of      being a woman in a once all-male industry.      becoming increasingly resistive to a once
Wal-Mart, once said that high expectations      Keeping her eye on that objective, she gave     forceful pitching of products, they ended
are the key to everything, and Jon Bon Jovi     her best to whatever task was handed to         up buying products . . . lots of products!
has said that success is falling nine times     her in positions as finance closer, director      Becky decided this sales method was
and getting up ten. Throughout our school       of finance and general sales manager. In        worthy of being shared with others in the
years, any number of teachers espoused          1995, she was hired by Jim Moran &              automotive industry. In 2001, she founded
the same message: no matter how large or        Associates and soon afterward was pro-          Chernek Consulting, Inc.—dubbed FYIFI,
small the challenge, we must tackle it with     moted to the AutoNation division as a dis-      Inc.—and currently offers two training
the firm conviction that we can and will        trict manager.                                  workshops to dealerships throughout the
conquer it. Some of us have never taken           It was in this last position that Becky put   nation and Canada: Closing Tools &
the implications of this principle to heart.    her personal business philosophy to work.       Mastering Menu Sales and Basic F&I. Her
Others of us have and are now reaping the       She practiced full disclosure menu princi-      company practices the principles of
rewards. Becky Chernek is one of the lat-       ples and, when others noticed her amazing       integrity, team work, and trust, and sup-
ter. Now, she is teaching others in the auto-   success, she was urged to train manage-         ports a full disclosure selling philosophy
motive industry how to achieve their goals,     ment on this unique concept and also on         and superior work ethic. Both of her train-
too, because her methods work.                  how to utilize closes to overcome objec-        ing workshops, for sales and finance man-
 In 1985, Becky began her automotive            tions. Full disclosure selling was not a        agers from any size dealership, emphasize
career selling Mercury cars for a Baltimore     proven technique, until it was kicked off in    proven closing techniques that effectively
dealer, Al Packer. A year later, she took a     the AutoNation stores. Menu selling             earn the sale and maintain customer loyal-
position at a Ford dealership selling light     worked for her and she fully believed it                           CONTINUED ON PAGE 4.
Non-Prime Times, Spring, 2006
                                         EXECUTIVE DIRECTOR’S                         MESSAGE
                         When we get togeth-      ed. A panel of members of the NAF                 We ask all of you to spread the word
                       er in June in Fort         Association Legal Committee will update         among your dealer colleagues that this
                       Worth, we will be          attendees on legislative and regulatory         conference is an excellent opportunity for
                       marking 10 years of        matters and will host a second session for      them to learn about the burgeoning non-
                       presenting a confer-       questions from the floor.                       prime market and to make beneficial con-
                       ence that focuses            In addition to the sessions, you will find    tacts.
                       specifically on non-       exhibits of the latest in industry-specific       We are always grateful for the support of
 Jack Tracey, CAE prime auto financ-              products and services and ample time at         our sponsors and exhibitors in making the
                        ing. In those years,      meals and breaks to form valuable con-          conference possible.
our conference has grown, not only in atten-      tacts. The NAF Association golf scramble is
dance, but also in stature within the industry.                                                    Plan to spend June 12 to 14 in Fort
                                                  open to all who attend as is a special event    Worth. Register today at
  Each year finance company representa-           at a local comedy club.               
tives and auto dealers come together from
across the United States and Canada to                                                              NAF Association’s
learn from experts. Topics and speakers are
selected by NAF Association members,                                                    10th Annual Non-Prime
people who work in the industry. Timely
issues, such as Hispanic marketing, inter-                                               Automotive Conference
net lead generation and identity theft, are
on the conference agenda and, as always,
there will be time for questions. Industry                                     June 12-14, 2006
updates and trends, now including the                              Renaissance Worthington Hotel Fort Worth
growing Canadian market, will be present-

LEGAL BRIEFS...FROM PAGE 1                                                    Attend the 10th Annual
                                                                       Non-Prime Automotive Conference and
to take a deep dive into the practical
implications of the new bankruptcy
                                                                            Hear Speakers Like These...
laws, examine the laws around pre-                                                Amy Martin
screening and pre-qualified offers and                                            Director, Structured Finance Ratings Group,
run through the latest legal develop-                                             Standard & Poor’s
ments at both the federal and state lev-                                          Rating agency’s perspectives on non-prime auto
els. Back by popular demand, we will                                              financing.
once again follow our formal presenta-
tion with an hour-long question and
                                                                                 Tom Webb
answer session that will be completely                                           Chief Economist
audience-driven. As we said last year,                                           Manheim
that’s about $2,500/hr in legal advice                                           Auction statistics and what they mean for the
for the cost of admission, not to men-                                           health of the industry.
tion the other terrific panels and
speakers, vendors and receptions that
Jack Tracey and the Association are                                              Patty Covington
planning. As we Texas folk like to say,
                                                                                 Hudson Cook, LLP
“Everything’s bigger in Texas!”                                                  Safeguarding information: the why and how.
 I look forward to seeing y’all in Fort
 Steve Levine, National Counsel for
Regional Acceptance Corp., is Chair of
NAF Association’s Legal Committee.
                                                                                                 Non-Prime Times, Spring, 2006
                                                ing of products. Finance managers simply
ty. Managers who have taken the work-
                                                review each product and explain features                  NEW MEMBERS
shops issue glowing accolades after putting
                                                and benefits in a way that engages cus-            The NAF Association welcomes
Becky’s methods to work. They learned
                                                tomers in the discussion. When the presen-        new members:
very quickly that unethical finance tech-
                                                tation is complete, they ask for the sale. If
niques are not necessary to maximize per-
                                                customers say NO . . . CCI teaches that this      AIF/VRP
                                                is when the sale begins! CCI trains man-
  Becky designed her workshops to teach         agers on sure-fire techniques to overcome
both finance and sales managers the con-
                                                                                                  Assurant Solutions
                                                objections, including how to utilize visuals
cept of full disclosure selling without
                                                that are time-tested, quick, and effective.
killing profits: compliance doesn’t begin in
                                                  After persistent urging from satisfied          Auto Supreme, Inc.
finance; it begins the very minute cus-
                                                workshop attendees, Becky Chernek is    
tomers come onto the lot. Menu selling is a
                                                ready to introduce her new Basic F&I              Autofusion, Inc.
sales process that must be adopted by all
                                                workshop in April. Specifically designed to
retail sales personnel, in order to maximize
                                                shorten the learning curve for recently
benefits. Becky shows finance managers                                                            Chernek Consulting
                                                hired managers, the workshop will not only
how to put all their cards on the table and                                             
                                                teach managers how to reduce errors and
to quit shooting from the hip. She demon-                                                         Contact 911, Inc.
                                                earn faster profits, but also how to efficient-
strates in fun-filled and memorable sessions                                            
                                                ly deal with the nitty-gritty administration
how to put the principle "KNOWLEDGE IS
                                                of the office. Funding, product knowledge,        Detroit Trading Company
POWER" to work. She teaches managers
                                                leasing, financing, reading a credit report,
how to effectively gather information, how
                                                presentation skills and overcoming objec-
to build a case that will get any transaction                                                     Fiserv Lending Solutions
                                                tions will cease to be obstacles standing in
quickly approved, and how to qualify a sale                                             
                                                the way of success, when Becky’s methods
to overcome objections. Her goal is to bury
                                                are utilized. The workshop is a two-day           InfoIMAGE, Inc.
the outdated box close mentality, because
                                                boot camp with lots of homework. Becky  
customers have grown weary of the games
                                                urges attendees to be prepared for hard
dealerships play, and to prove that untold
                                                work . . . and to expect incalculable insight
                                                                                                  Locator Technologies, LLC
profits can be made with a strictly profes-
                                                in how to effectively run a finance depart-
sional and ethical business perspective.
                                                ment that brings in steadily increasing prof-     R & R Sales, Inc.
Tom Hudson, a well-known and respected
attorney from Hudson & Cook, avers that if
finance managers are concealing, hiding,         Becky believes that anything is possible, if     ReMark Capital Group, LLC
and packing, they are likely doing some-        managers think BIG and acquire the proper         504-799-3520
thing wrong, and Becky has Tom on board         know-how in how to make their dreams
                                                                                                  Vantage ILM
to share his expertise in compliance issues.    become reality. She will provide the know-
                                                how, if managers come to her workshop
 The menu selling presentation method
                                                armed with big dreams!                            VT Inc./Auto Investment Group, Inc.
CCI teaches is quick and involves no pitch-

                                                                    MAIL: 7250 Parkway Drive, Suite 510
                  NON-PRIME AUTO                                    Hanover, MD 21076
                     FINANCING                                      PHONE: 800/463-8955
                                                                    FAX: 410-712-4038
                    CONFERENCE                                      E-MAIL:
        JUNE 12-14 IN FORT WORTH                                    If you would like to contribute a newsletter article, contact
        WWW.NAFASSOCIATION.COM                                      us for details.

Non-Prime Times, Spring, 2006

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