Automaker Incentives, Including the Goofy and Arcane, Run Gamut

Automaker Incentives, Including the Goofy and Arcane, Run Gamut

“There are billions of dollars of rebates out there,” says Rusty West whose company, Market Scan, tracks them all.
 

Steven Finlay | Feb 22, 2019

 

It was an automaker’s customer incentive to die for.

Fiat Chrysler until recently dangled out a live-bait lure to National Funeral Directors Assn. members.

“Undertakers got a $500 rebate” for buying a Chrysler, recalls Rusty West, president of Market Scan, an information technology company specializing in auto retailing data collection.

 

For additional information, articles or interviews please contact:
Market Scan at info@marketscan.com

Market Scan was founded in 1988 by Father-Son team Russell and Rusty West with a single vision: build a world-class desking platform to fit every customer’s financing and leasing needs like a driving glove while returning the highest profit margin possible to the dealership.

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© 2019 All rights reserved.
Market Scan Information Systems, Inc.

 

Meet with us at NADA 2019

Meet with us at NADA 2019

2019 NADA Show Logo

Market Scan Launches New Products, mProve Diagnostics, mPortal, and mDrive at NADA

New Management Software will ensure a cohesive and consistent Customer Journey Online through In-Store while simultaneously improving Automotive Retailers’ Profitability

  • mPortal allows dealers to control the entire online and in-store payment quoting process and eliminates disconnect between online customer quotes and what is quoted in the dealership. Every payment quoted is Penny-Certain and consistent.
  • mDrive instantly answers every consumer’s question: “What can I drive?” mDrive instantly provides the consumer and a dealership sales team a complete list of the dealership’s qualifying inventory. Every payment is Penny-Certain and considers the consumer’s individual buying criteria and credit profile, all rebates, all of each lender’s rules and policies, correct taxation – and all of the dealer’s margins, fees, and mark-ups. The result is a successful transaction and a happy consumer.
  • mProve analyzes every element of each of the dealer’s sales transactions and compares against best available practice or program. The analysis will show the dealer precisely where he has missed profit opportunities and is leaving “money on the table” – and how to improve performance and become more competitive.

CAMARILLO, Calif. (January 22, 2019) – Market Scan, the industry leader in automotive financing/leasing software and data services, today introduced three new products, mProve Diagnostics, mDrive and mPortal, which will debut at the National Automotive Dealers Association Show in San Francisco.

“We launched Market Scan 30 years ago with the ambition to offer software programs and services that are based on the premise that there is only one scientifically-perfect solution for any conceivable automotive transaction, and any solution that is less than perfect is simply unacceptable. We have not wavered from that position,” said Market Scan Co-Founder and President Rusty West. “It is with this backdrop that we are excited to introduce new, game-changing products for the industry. These products complement our existing portfolio of products as well as provide new and very powerful tools for dealers to improve their profitability and give dealers the ability to offer customers an improved and consistent online and in-showroom shopping experience.”

mProve Diagnostics maximizes dealer profits

Dealers have often been unable to substantiate if their sales transactions maximized the store’s profit potential. Statistically, in most dealerships, 80% of all transactions are spot on with only marginal room for improvement. However, 20% of the sales transactions are likely processed using the wrong lender program, the wrong rebate stack, the wrong structure, or a combination of these. In those 20% of transactions, the dealer may sustain tens of thousands of dollars of missed gross profit every month. In a recent study performed by Market Scan, these losses, when spread across the entire dealership sales volume, amounted to more than $500 per car retailed.

mProve was developed in partnership with StoneEagle, the Richardson, Texas-based supplier of F&I technology for the retail automotive industry. mProve performs a thorough review of every sales transaction and the analysis will show exactly how each deal should have been constructed to improve the gross profit. mProve is designed to maximize each sales transaction and potentially add hundreds of thousands of dollars in profit each year.

“StoneEagle is a leading supplier of F&I technology and automotive sales performance solutions. When you pair StoneEagle’s SEcureMetrics Advanced F&I Analytics with our database of lender programs and OEM incentives, the output is simply astonishing,” said West. “mProve can help add hundreds of thousands of dollars to a dealer’s bottom line – without selling more cars! (Plus, make the dealership more competitive.) The math is shocking; if a dealer sells 200 cars per month, he may be leaving $100,000 per month on the table – and more than $1,000,000 annually! The power of mProve is nothing short of mind-blowing, and we know we have a hit on our hands. We can’t wait to showcase this product at NADA.”

mDrive gives the customer the real and best choices when shopping for a new car – meeting both the Consumer’s and the Dealer’s terms.

mDrive is the only technology that takes everything into consideration to provide a consumer with a list of vehicles that meet his or her criteria and preferences, based upon Consumer’s Credit Score, Consumer’s Budget, Consumer’s Driving Habits, Dealership’s Terms and Conditions for Each Scenario, Dealership’s Lender Relationships and Manufacturer’s Rebates and Incentives.

mDrive enables a dealer’s sales professionals to instantly create a list of all the dealer’s vehicles in inventory that meet those criteria, ranked by each vehicle’s “PVI” – Payment Value Index (most “bang for the buck”). Providing this information early in the sales process will save dealers and consumers valuable time, a big factor in improving the customer experience.

“mDrive accurately answers the consumer’s age-old question – “What Can I Drive?”, West said. “What sets mDrive apart – from any other tool or method in the market – is that mDrive instantly provides the consumer and the dealer’s sales team an EXACT list of the dealer’s qualifying inventory – based on science. When a consumer’s credit score, budget, number of months and acceptable payment range are entered, mDrive will instantly show a list of every vehicle in the dealer’s inventory that fits the criteria!

Better yet, each of these vehicles meet all of the dealer’s lender published terms for approval – and all of the dealer’s terms and conditions for transacting! mDrive helps save a lot of time in identifying which is the best car for the customer.”

mPortal presents exact payment quotes and ensures consistent pricing quotes across all customer touchpoints

Market Scan’s new mPortal gives dealers full control over all payment quotes provided to customers, eliminating the negative customer experience when online payment quotes are inaccurate or incomplete and not the same quotes they receive when they meet with a sales executive.

This problem exists because the online shopping sites that quote payments on the dealership’s behalf are not respecting the terms and conditions under which dealers are willing to do business.

With more and more consumer-facing companies coming online every month, it is critical that a dealer manages all outward payment quotes correctly to ensure consistency from platform to platform, as well as in the dealership.

Market Scan’s mPortal fixes this problem by providing the dealership with a single repository where all of the dealer’s selling rules can be housed and managed. The dealer’s list of lenders, quoting rules, fees, rate mark-ups, bank fee mark-ups, internal packs, and calculation settings all reside in a single location. All the dealer has to do is insist that the dealership’s rules are honored for any payment quoted on any car in inventory.

“Every day we hear horror stories about consumers who are frustrated by their shopping experiences, both online and at the dealership,” added West. “What starts out as a very pleasant, low-stress process rapidly turns adversarial when the payments offered online are not remotely similar to what the dealer presents the customer in the dealership. Every dealership has its unique inventory, lender affiliations and quoting rules – fees, mark-ups, packs, lot-age rules and, of course, profit margins. To calculate an accurate payment, all of these factors must be factored in correctly – in the dealership or via an online technology partner. mPortal is very powerful and gives the dealer the ability to take full control and give the customer a consistent buying experience.”

About Market Scan Nationally recognized as the company that wrote the book on automobile desking, Market Scan has been the industry leader in automotive financing/leasing software and data, since it was founded in 1988. Market Scan tracks every parameter, policy and factor that can influence an automotive transaction and has built the industry’s largest database of lender programs and OEM rebates & incentives. Each month, Market Scan quotes more than one billion Penny-Certain lease and finance payments through its software products and systems, marketed under the names of mDesking, mQuote, mGauge, mScanAPI, mPortal, mDrive and mProve. Market Scan’s technologies facilitate easier, more complete, competitive and transparent offerings that help consumers, dealers, lenders, and OEMs complete automobile transactions in an efficient, frictionless environment. For more information, call 800-658-7226 or go to www.marketscan.com.

For additional information, articles or interviews please contact:
Market Scan at info@marketscan.com

Market Scan was founded in 1988 by Father-Son team Russell and Rusty West with a single vision: build a world-class desking platform to fit every customer’s financing and leasing needs like a driving glove while returning the highest profit margin possible to the dealership.

Market Scan Vertical Logo - White

© 2019 All rights reserved.
Market Scan Information Systems, Inc.

 

Market Scan and StoneEagle Form Strategic Partnership

Market Scan and StoneEagle Form Strategic Partnership

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CAMARILLO, Calif. and RICHARDSON, Texas (Jan. 22, 2019) – Market Scan and StoneEagle, two industry-leading dealership performance providers, today announced a strategic partnership to develop tools to improve dealer profitability and competitiveness and drive best practice for their combined 10,000 dealership clients nationwide.

The first product conceived through the Market Scan-StoneEagle collaboration is mProve Diagnostics, a transaction analysis tool to be introduced later this week at the National Automobile Dealers Association (NADA) Show in San Francisco.

“Partnering with StoneEagle is a strategic business move for our two companies. The real beneficiaries, however, will be our clients who will be completely blown away by the magnitude of the profit opportunities available to them – without selling one additional car,” said Market Scan Co-Founder and President Rusty West.

“When you pair StoneEagle’s SEcureMetrics Advanced F&I Analytics with our database of lender program and OEM incentives, the output is simply astonishing. We are very excited to be teaming-up with StoneEagle and can’t wait to show dealers what mProve can mean to their bottom line”.

 

“When Rusty approached us about partnering with Market Scan, we quickly realized how our combined competencies could be beneficial for our dealers”, StoneEagle CEO Cindy Allen added. “Like Market Scan, StoneEagle has been an industry leader for 30 years.  Over that period, Market Scan has provided industry-leading data and calculation solutions to dealers, while StoneEagle has been a leading supplier of F&I technology and sales performance solutions. What mProve offers dealers is truly a game-changer. We couldn’t be more excited about launching mProve with Market Scan at NADA“.

mProve Diagnostics shows dealers where profit opportunities could’ve been maximized for each sales transaction – and exactly how each deal should have been constructed to improve the gross profit and competitiveness of the deal.

About Market Scan
Nationally recognized as the company that wrote the book on automobile desking, Market Scan has been the industry leader in automotive financing/leasing software and data, since it was founded in 1988. Market Scan tracks every parameter, policy and factor that can influence an automotive transaction and has built the industry’s largest database of lender programs and OEM rebates & incentives. Each month, Market Scan quotes more than one billion Penny-Certain lease and finance payments through its software products and systems, marketed under the names of mDesking, mQuote, mGauge, mScanAPI, mPortal, mDrive and mProve. Market Scan’s technologies facilitate easier, more complete, competitive and transparent offerings that help consumers, dealers, lenders, and OEMs complete automobile transactions in an efficient, frictionless environment. For more information, call 800-658-7226 or go to www.marketscan.com.

About StoneEagle 
Established in 1987, StoneEagle provides innovative F&I solutions and legendary customer service to the retail automotive industry. Our Metrics, Menu and Admin solutions increase productivity, improve efficiency, and accelerate profitability for dealerships, general agencies, F&I product providers, and OEMs nationwide. For more information on StoneEagle or to schedule a solution demonstration call 855-937-8729 or email sales@stoneeagle.com.

For additional information, articles or interviews please contact:
Market Scan at info@marketscan.com

Market Scan was founded in 1988 by Father-Son team Russell and Rusty West with a single vision: build a world-class desking platform to fit every customer’s financing and leasing needs like a driving glove while returning the highest profit margin possible to the dealership.

Market Scan Vertical Logo - White

© 2019 All rights reserved.
Market Scan Information Systems, Inc.

 

Market Scan and Motoinsight Form Strategic Partnership

Market Scan and Motoinsight Form Strategic Partnership

Market Scan MotoInsight Banner Logo

CAMARILLO, Calif. and TORONTO (January 23, 2019) – Market Scan and Motoinsight, leading providers of technology solutions for the automotive industry, today announced they are forming a strategic relationship to further expand their reach across the United States. Motoinsight will gain access to Market Scan’s database and calculation engine which will include data and programs from banks, lenders and OEMs. This will include every automotive financial offering, all rebates and incentives, and all taxation. This will put Motoinsight in a position to continue to provide its dealers throughout the U.S. with the most comprehensive and accurate data in the industry.

“Motoinsight is a tremendous addition to our list of dynamic technology customers, a fast-growing company that is changing the game for dealers in North America and beyond,” said Market Scan co-Founder and President Rusty West. “Motoinsight’s products are data-focused, and I’m proud to say Market Scan has the best, most comprehensive lender program and OEM incentive data in the industry.”

Motoinsight works with automakers and dealerships in the United States, Canada and Australia to redefine automotive retail. The company’s team of engineers, designers and product specialists develop data-powered end-to-end digital commerce solutions that streamline the car-buying experience for everyone involved.

“The disruption that we have seen in many other retail sectors is now happening in the automotive world,” said CEO Andrew Tai. “We’re proud to be at the forefront of innovation by enabling seamless online and in-store car buying experiences that delight customers. Our rapid growth reflects the trust that automakers and dealership groups have placed in our market-leading digital retailing solutions. Market Scan is known for their world-class data, and this partnership will enable us at Motoinsight to deliver the highest caliber of digital retailing technology to our customers.”

Both Market Scan (Booth #6739W) and Motoinsight (Booth #7929W) will have a presence at the National Automobile Dealers Association (NADA) Show in San Francisco later this week, Jan. 25-27.

 

 About Market Scan

Nationally recognized as the company that wrote the book on automobile desking, Market Scan has been the industry leader in automotive financing/leasing software and data, since it was founded in 1988. Market Scan tracks every parameter, policy and factor that can influence an automotive transaction and has built the industry’s largest database of lender programs and OEM rebates & incentives. Each month, Market Scan quotes more than one billion Penny-Certain lease and finance payments through its software products and systems, marketed under the names of mDesking, mQuote, mGauge, mScanAPI, mPortal, mDrive and mProve. Market Scan’s technologies facilitate easier, more complete, competitive and transparent offerings that help consumers, dealers, lenders, and OEMs complete automobile transactions in an efficient, frictionless environment. For more information, call 800-658-7226 or go to www.marketscan.com.

 

 About Motoinsight

Motoinsight partners with automakers and dealerships to redefine automotive retail. Motoinsight’s flagship digital retailing platform MotoCommerce™ enables revolutionary omni-channel and e-commerce enabled car-buying experiences. Motoinsight solutions are used by automakers, dealership franchises as well as banks and insurance companies. The company serves customers in the United States, Canada and Australia. For further information, visit motoinsight.com.

For additional information, articles or interviews please contact:
Market Scan at info@marketscan.com

Market Scan was founded in 1988 by Father-Son team Russell and Rusty West with a single vision: build a world-class desking platform to fit every customer’s financing and leasing needs like a driving glove while returning the highest profit margin possible to the dealership.

Market Scan Vertical Logo - White

© 2019 All rights reserved.
Market Scan Information Systems, Inc.

 

Automotive News Interviews Market Scan

Automotive News Interviews Market Scan

Rusty West Portrait
Automotive News Logo

(June 11, 2018) – Market Scan had built a solid, under-the-radar business on providing dealerships with desking software that helped them close deals. It added tools to help auto lenders be more competitive in specific markets. All was good.

Then came the fintechs. Suddenly, app developers hoping to launch programs that would help consumers finance or lease vehicles online wanted to tap Market Scan’s enormous database of lending terms, incentives, state and local taxes and fees, and more. Market Scan’s business exploded.

“We bought a building in the same complex as we were in before, and by the time we moved in, we were out of space,” said Rusty West, Market Scan’s president and co-founder. “We’re literally doubling our space right now,” to add more staff to the development team, mostly to support the integration of the database into startups’ apps. Before an interview with Automotive News, he noted, he had to ask the workmen to “stop the jackhammers.”

Market Scan is possibly the most significant technology company in the F&I space that you never heard of. Its data is critical to many of the companies that are enabling online transactions, whether on dealership sites or independent mobile apps. It powers about 30 fintech companies now, with about 60 more either in talks or in development. “This technology is allowing the explosion of consumer products,” said West.

It has been a long road from West’s days of writing code to pay back his father for his college tuition.

His father, Russell, was the company co-founder. Russell West, now deceased, helped Ford Motor Credit Corp. in the 1960s launch what became its Red Carpet Lease program. He went on to operate several dealerships and leasing companies. In 1989, one of the leasing companies birthed Market Scan’s first product, Lease Prophet. Rusty, who had just graduated from the University of West Georgia with a triple major in computer science, physics and mathematics, was paid $200 a week to write the software program over 14 months.

For additional information, articles or interviews please contact:
Market Scan at info@marketscan.com

Market Scan was founded in 1988 by Father-Son team Russell and Rusty West with a single vision: build a world-class desking platform to fit every customer’s financing and leasing needs like a driving glove while returning the highest profit margin possible to the dealership.

Market Scan Vertical Logo - White

© 2019 All rights reserved.
Market Scan Information Systems, Inc.