{"version":"1.0.0","episode":{"title":"Burnett on Ford 2.0 Launch, Lasky on Honing F&I Process | Daily Dealer Live","url":"http://getcarcurious.com/episodes/burnett-on-ford-2-0-launch-lasky-on-honing-f-i-process-daily-dealer-live","audioUrl":"https://chrt.fm/track/C6AG88/traffic.megaphone.fm/CREUR2005063435.mp3","description":"Today's show features: \n\n\n\n- JB Burnett, Executive General Manager of Preston Automotive Group\n\n\n\n- Justin Lasky, Business Manager at Lexus of North Hills\n\n\n\nThis episode is brought to you by:\n\n\n\nStream Companies – Stream Companies is a full-service, fully integrated, tech-enabled advertising agency that drives measurable results through performance marketing, creative and content development, and proprietary AdTech solutions. Our innovative platforms, including the Retail Ready platform and Integrated Marketing Cloud, empower brands to optimize performance and accelerate growth. To learn more, visit StreamCompanies.com.\n\n\n\nDealer Video Excellence Challenge, presented by Covideo – enter the contest by submitting your videos for your chance to win $1,000 and 3 months of Covideo access here: https://2tqce38uozv.typeform.com/to/KEOuOixJ\n\n\n\n—\n\n\n\nCheck out Car Dealership Guy’s stuff:\n\n\n\nCDG Circles ➤ https://cdgcircles.com/\n\nCDG News ➤ https://news.dealershipguy.com/\n\nCDG Jobs ➤ https://jobs.dealershipguy.com/\n\nCDG Recruiting ➤ https://www.cdgrecruiting.com/\n\n\n\nMy Socials:\n\n\n\nX ➤ https://www.twitter.com/GuyDealership\n\nInstagram ➤ https://www.instagram.com/cardealershipguy/\n\nTikTok ➤ https://www.tiktok.com/@guydealership\n\nLinkedIn ➤ https://www.linkedin.com/company/cardealershipguy/\n\nThreads ➤ https://www.threads.net/@cardealershipguy\n\nFacebook ➤ https://www.facebook.com/profile.php?id=100077402857683\n\n\n\nEverything else ➤ dealershipguy.com"},"annotations":[{"startTime":80.0,"endTime":87.0,"type":"concept","title":"ownership experience","url":"/glossary/ownership-experience","quote":"...As brand ties weaken, what replaces is the ownership experience, especially service,...","canonicalId":"concept:ownership-experience","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The ownership experience encompasses all aspects of owning a vehicle, including purchasing, servicing, and customer support. It plays a significant role in customer satisfaction and loyalty to a brand.","simplifiedExplanation":"The ownership experience is everything you go through when you own a car, like buying it, getting it serviced, and how the company helps you. It's important for how happy you are with your car."}},{"startTime":96.0,"endTime":101.0,"type":"concept","title":"transparent pricing","url":"/glossary/transparent-pricing","quote":"...what customers care about in service is basic, but unforgiving, clear pricing, transparent expectations, and quality work. And over-the-air updates or connected features matter far less than whether the last repair...","canonicalId":"concept:transparent-pricing","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Transparent pricing refers to the clear and upfront disclosure of costs associated with services or repairs, allowing customers to understand what they are paying for without hidden fees. This concept is crucial in building trust between customers and service providers.","simplifiedExplanation":"Transparent pricing means that you know exactly how much you will pay for a service without any surprise fees. It's important because it helps you trust the service provider."}},{"startTime":105.0,"endTime":110.0,"type":"term","title":"over-the-air updates","url":"/glossary/over-the-air-updates","quote":"...And over-the-air updates or connected features matter far less than whether the last repair order was well handled.","canonicalId":"term:over-the-air-updates","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Over-the-air updates refer to the ability to wirelessly update a vehicle's software, which can include new features, fixes, or improvements without needing to visit a dealership. This technology is becoming increasingly common in modern vehicles.","simplifiedExplanation":"Over-the-air updates let your car's software be updated wirelessly, like how your phone gets updates. This means you don't have to go to a shop to get new features or fixes."}},{"startTime":141.8,"endTime":142.3,"type":"brand","title":"Toyota","url":"/glossary/toyota","quote":"...the group kept the Ford Kia, Honda, and Toyota brands and divested the rest to Joe Hamblock...","canonicalId":"brand:toyota","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Toyota is a Japanese automotive manufacturer recognized for its dependable vehicles, including the Camry and Corolla.","simplifiedExplanation":"Toyota is a popular car brand from Japan, known for making reliable cars like the Camry and Corolla."}},{"startTime":141.8,"endTime":142.3,"type":"brand","title":"Honda","url":"/glossary/honda","quote":"...the group kept the Ford Kia, Honda, and Toyota brands and divested the rest to Joe Hamblock...","canonicalId":"brand:honda","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Honda is a Japanese automotive manufacturer known for its reliable cars, including the Civic and Accord.","simplifiedExplanation":"Honda is a well-known car brand from Japan, famous for making reliable cars like the Civic and Accord."}},{"startTime":141.8,"endTime":142.3,"type":"brand","title":"Ford","url":"/glossary/ford","quote":"...the group kept the Ford Kia, Honda, and Toyota brands and divested the rest to Joe Hamblock...","canonicalId":"brand:ford","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Ford is a well-known American automotive manufacturer, famous for models like the F-150 and Mustang.","simplifiedExplanation":"Ford is a popular car brand in the United States, known for making trucks and cars like the Mustang."}},{"startTime":141.8,"endTime":142.3,"type":"brand","title":"Kia","url":"/glossary/kia","quote":"...the group kept the Ford Kia, Honda, and Toyota brands and divested the rest to Joe Hamblock...","canonicalId":"brand:kia","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Kia is a South Korean automotive manufacturer known for producing affordable and reliable vehicles such as the Kia Sorento and Sportage.","simplifiedExplanation":"Kia is a car brand from South Korea that makes a variety of vehicles, including SUVs and sedans."}},{"startTime":762.0,"endTime":765.5,"type":"concept","title":"automotive experience","url":"/glossary/automotive-experience","quote":"...the way we have transitioned what the automotive experience looks like has really created a surge","canonicalId":"concept:automotive-experience","priority":0.5,"confidence":0.8,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The automotive experience refers to how consumers interact with vehicles and the overall buying and ownership process, including design, technology, and customer service.","simplifiedExplanation":"The automotive experience is about how people feel and what they go through when they buy and use cars, including how the cars look and work."}},{"startTime":986.9,"endTime":991.8,"type":"term","title":"AutoFi","url":"/glossary/autofi","quote":"...So auto fi, that's a Ford tool. Or is it something you went out and found to deliver in your experience?","canonicalId":"term:autofi","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"AutoFi is a digital retailing platform used by automotive dealerships to streamline the car buying process. It helps in managing paperwork and financing options, making transactions smoother for both the dealer and the customer.","simplifiedExplanation":"AutoFi is a tool that car dealerships use to make buying a car easier. It helps with the paperwork and financing so that everything goes more smoothly when you buy a car."}},{"startTime":1026.2,"endTime":1030.0,"type":"term","title":"F&I dollars","url":"/glossary/f-i-dollars","quote":"You haven't lost F&I dollars. Have you increased?","canonicalId":"term:f-i-dollars","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"F&I dollars refer to the profits generated from the Finance and Insurance department of a dealership, which includes products like extended warranties and financing options. These are crucial for dealership profitability beyond just the sale of the vehicle itself.","simplifiedExplanation":"F&I dollars are the extra money a car dealership makes from selling things like insurance and financing options when you buy a car. It's an important part of how dealerships make money."}},{"startTime":1035.1,"endTime":1038.4,"type":"term","title":"PVR","url":"/glossary/pvr","quote":"what is your average PVR as you've gone through the process?","canonicalId":"term:pvr","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"PVR stands for Per Vehicle Retail, which is a metric used by dealerships to measure the average profit made on each vehicle sold. This figure helps dealerships assess their sales performance and profitability.","simplifiedExplanation":"PVR means how much money a dealership makes on average for each car they sell. It's a way for them to see how well they're doing financially."}},{"startTime":1393.5,"endTime":1394.5,"type":"term","title":"LTV","url":"/glossary/ltv","quote":"...if it fits my parameters on LTV, credit score and PTI, then it just goes through the system...","canonicalId":"term:ltv","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"LTV stands for Loan-to-Value ratio, which is a financial term used to express the ratio of a loan to the value of an asset purchased. In automotive financing, it helps lenders assess risk by comparing the loan amount to the vehicle's value.","simplifiedExplanation":"LTV means how much money you borrow compared to how much the car is worth. It's a way for banks to see if they are lending too much money for a car."}},{"startTime":1394.5,"endTime":1395.5,"type":"term","title":"credit score","url":"/glossary/credit-score","quote":"...if it fits my parameters on LTV, credit score and PTI, then it just goes through the system...","canonicalId":"term:credit-score","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"A credit score is a numerical representation of a person's creditworthiness, which lenders use to evaluate the likelihood that a borrower will repay their debts. Higher scores generally lead to better loan terms.","simplifiedExplanation":"A credit score is a number that shows how good you are at paying back money you borrow. A higher score means you're more likely to get a loan with good terms."}},{"startTime":1395.5,"endTime":1396.5,"type":"term","title":"PTI","url":"/glossary/pti","quote":"...if it fits my parameters on LTV, credit score and PTI, then it just goes through the system...","canonicalId":"term:pti","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"PTI stands for Payment-to-Income ratio, which measures the proportion of a borrower's income that goes toward debt payments. It's an important factor in determining loan eligibility.","simplifiedExplanation":"PTI is how much of your income goes to paying off loans. Lenders use it to see if you can afford to take on more debt."}},{"startTime":1623.4,"endTime":1624.0,"type":"brand","title":"Lincoln","url":"/glossary/lincoln","quote":"when it comes to Ford and Lincoln mobile pickup and delivery.","canonicalId":"brand:lincoln","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Lincoln is the luxury vehicle division of Ford, known for producing high-end cars and SUVs that focus on comfort and advanced technology.","simplifiedExplanation":"Lincoln is a luxury car brand that is part of Ford. They make more expensive and comfortable cars compared to regular Ford vehicles."}},{"startTime":2130.0,"endTime":2131.5,"type":"brand","title":"Hyundai","url":"/glossary/hyundai","quote":"Stilanus, Hyundai, and also at this new Ford facility.","canonicalId":"brand:hyundai","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Hyundai is a South Korean automotive manufacturer that produces a variety of vehicles, including sedans, SUVs, and electric cars. The company has gained a reputation for offering quality vehicles at competitive prices.","simplifiedExplanation":"Hyundai is a car company from South Korea that makes different kinds of cars, including affordable and reliable options. They are known for their good value."}},{"startTime":2136.0,"endTime":2138.5,"type":"brand","title":"Lexus","url":"/glossary/lexus","quote":"business manager at Lexus of North Hills, Pittsburgh.","canonicalId":"brand:lexus","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Lexus is the luxury vehicle division of the Japanese automaker Toyota. It is known for producing high-quality, luxurious cars and SUVs that emphasize comfort, technology, and performance.","simplifiedExplanation":"Lexus is a luxury car brand that comes from Toyota. They make high-end cars that focus on comfort and advanced technology."}},{"startTime":2292.0,"endTime":2293.4,"type":"term","title":"financing process","url":"/glossary/financing-process","quote":"...but what is the financing process and what is the ancillary add-ons for this vehicle look like?","canonicalId":"term:financing-process","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The financing process refers to the steps involved in obtaining a loan or lease to purchase a vehicle. This includes applying for credit, reviewing loan terms, and understanding interest rates and monthly payments.","simplifiedExplanation":"The financing process is how you get money to buy a car, usually through a loan. It involves filling out forms and figuring out how much you'll pay each month."}},{"startTime":2293.4,"endTime":2294.7,"type":"term","title":"ancillary add-ons","url":"/glossary/ancillary-add-ons","quote":"...what is the ancillary add-ons for this vehicle look like? And my salespeople who are doing a great job...","canonicalId":"term:ancillary-add-ons","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Ancillary add-ons are additional products or services offered when purchasing a vehicle, such as extended warranties, maintenance plans, or gap insurance. These can enhance the ownership experience but often come at an extra cost.","simplifiedExplanation":"Ancillary add-ons are extra things you can buy when you get a car, like warranties to cover repairs or services to help maintain it. They can be helpful but usually cost more money."}},{"startTime":2372.3,"endTime":2373.3,"type":"term","title":"F and I products","url":"/glossary/f-and-i-products","quote":"Do you sell Toyota or Lexus' F and I products...","canonicalId":"term:f-and-i-products","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"F and I products refer to Finance and Insurance products offered by dealerships, including warranties, service contracts, and financing options.","simplifiedExplanation":"F and I products are services that car dealerships offer to help you pay for the car and protect it, like insurance and warranties."}},{"startTime":2382.2,"endTime":2383.8,"type":"term","title":"warranty services","url":"/glossary/warranty-services","quote":"I have awful warranty services for some of my high mileage vehicles...","canonicalId":"term:warranty-services","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Warranty services are agreements that cover repairs and replacements for vehicles, often limited to a specific time or mileage.","simplifiedExplanation":"Warranty services are promises from the car company to fix certain problems with the car for free for a set time or distance."}},{"startTime":2382.2,"endTime":2383.8,"type":"term","title":"high mileage vehicles","url":"/glossary/high-mileage-vehicles","quote":"I have awful warranty services for some of my high mileage vehicles...","canonicalId":"term:high-mileage-vehicles","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"High mileage vehicles are cars that have been driven a lot, typically over 100,000 miles, which can affect their warranty and reliability.","simplifiedExplanation":"High mileage vehicles are cars that have been used for many miles, often making them older and sometimes less reliable."}},{"startTime":2781.9,"endTime":2784.3,"type":"term","title":"vehicle service contract","url":"/glossary/vehicle-service-contract","quote":"...most people who are coming into Alexis to work in absolutely self-insure, but close to 60% of our customers still take advantage of vehicle service contracts because they're actually consumers...","canonicalId":"term:vehicle-service-contract","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"A vehicle service contract is an agreement that covers certain repairs and services for a vehicle, often extending beyond the manufacturer's warranty. It can provide peace of mind for consumers by helping to manage repair costs.","simplifiedExplanation":"A vehicle service contract is like an extended warranty for your car. It helps pay for repairs after the regular warranty runs out, so you don't have to worry about unexpected costs."}},{"startTime":3127.5,"endTime":3129.7,"type":"company","title":"Expel","url":"/glossary/expel","quote":"...we use expel here, paint protection film. Of last month, I think we had 15 customers taking advantage of expel...","canonicalId":"company:expel","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Expel is a company that specializes in automotive paint protection products, including paint protection film and ceramic coatings. Their products help protect the vehicle's exterior from scratches, chips, and other environmental damage.","simplifiedExplanation":"Expel makes products that protect cars from damage. They have films and coatings that you can put on your car to keep it looking new."}},{"startTime":3129.7,"endTime":3131.8,"type":"term","title":"paint protection film","url":"/glossary/paint-protection-film","quote":"...paint protection film. Of last month, I think we had 15 customers taking advantage of expel...","canonicalId":"term:paint-protection-film","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Paint protection film is a clear, durable material applied to the exterior of a vehicle to protect it from scratches, chips, and other damage. It helps maintain the car's appearance and resale value.","simplifiedExplanation":"Paint protection film is like a clear shield for your car's paint. It helps keep the paint safe from scratches and other damage."}},{"startTime":3133.5,"endTime":3135.2,"type":"term","title":"ceramic coating","url":"/glossary/ceramic-coating","quote":"...and we're doing some ceramic coats as well. Same thing, those are the only tangible products...","canonicalId":"term:ceramic-coating","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Ceramic coating is a liquid polymer applied to the exterior of a vehicle that chemically bonds with the factory paint. It provides a protective layer that repels water, dirt, and UV rays, making the car easier to clean and maintain.","simplifiedExplanation":"Ceramic coating is a special liquid that you can put on your car's paint to protect it. It helps keep the car clean and safe from the sun's rays."}}],"speakers":[{"id":"s1","name":"Car Dealership Guy","role":"host"}],"transcripts":[{"url":"http://getcarcurious.com/episodes/burnett-on-ford-2-0-launch-lasky-on-honing-f-i-process-daily-dealer-live/transcript.vtt","type":"text/vtt"}]}