Rental Management 301: Advanced Rental-Module 3: Financial Management

Module 3: Financial Management - Part 5

Video Transcription

Video Summary

In this video transcript, the speaker discusses the concept of internal charges within a dealership. They explain how the profitability of the rental department can be used to strengthen other areas of the business, such as the parts, service, and sales departments. The speaker emphasizes the need for fair and reasonable profit margins when providing services and products to the rental department. They also highlight the importance of effective communication and coordination between departments to ensure the rental department receives timely and efficient service. Lastly, the speaker addresses the role of the sales department in benefiting from the rental department through extended warranties and depreciation choices.

Keywords

internal charges

rental department profitability

parts department

service department

sales department