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58 Cards in this Set
- Front
- Back
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Day Earn Goal: 93.5% Every Car at 93.5% = $10 How to sit at 93.5% Days earn growth =5% (sit skinny) (6 questions) |
1. Shared cars(move to diff. Branch) 2. Rate strategy 3. Red/yellow car 4. Marketing 5. Resales (72 hrs) 6. Walk in (32 D walk) |
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Average Rate goal: +$3 over the previous year. (4 answers) |
1. $33 insurance rate 2. 32 D walk 3. Rate strategy 4. Upgrades |
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Net Other Goal: +$10 over pervious year Coverage sale (4 answer) |
1. Train 2. Motivation 3. Hold accountable 4. Follow |
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Personnel at branch : $160 Ppl who work for the branch (6) |
Brand manager. Assistance manager Manager Trainees Car Prep. Drivers Shuttle driver |
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Branch Overhead (2 answers) |
1. Rent 2. Utilities |
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Group Overhead |
DD |
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Corporation located |
St. Louis |
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Vehicle Adjustments (Flip) (Depreciate %) |
1.7% depreciation. Example Buy car @= $40000 1.7% = $680 10months= $6800 Expect to sell= $33200 Sell for = $35000 Profit = $1800 vehicle average |
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- Minimal Financial Responsibility - Section |
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Areas of potential loss (5) RRPPP |
Rental (embezzlement/ accident) Receivables (bills not paid) People (employee accidents) Property Products |
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Risk management help reduce risk: (3) CUC |
Claims (employee loss, DX and OX) Underwriting Conversion |
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Amount - 15/30/5 |
15 - $15,000 single party bodily injury 30 - $30,000 multiple party bodily injury 5 - $5,000 property damages |
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Compliance (DMV) |
Permissively the vehicle are uninsured by the DMV through the certification of deposit #1875 in the amount of $35,000. The certificate covers every vehicle in Group 32 |
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Min/Max - 15/30/5 (3) |
- Minimum - the minimum amount of insurance required by law in CA that an owner of vehicle must carry. - Maximum - it is also the maximum amount Enterprise, non negligent owner, will ever be responsible to pay. -Every time we rent a car, we are on the hook for $35,000 |
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- Unlimited Liability Exposure - Section |
Enterprise is the owner and operator of the vehicles so we are exposed to an unlimited amount of money. In the event that we do something wrong, we are exposed to an unlimited amount of liability. |
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Employee Losses: when driving (3) |
- Enterprise as an entity uses its employees to do the driving - Employees when driving, enterprise is accepting full responsibility for any damages - Employee is allow certain amount of accidents |
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False Arrest (3) |
- When we fail to clear vehicle off the hot sheet, and the new renter is arrested. - If we recover the conversion vehicle, wait 48 hours before renting again. - Police recovery sheet to clear |
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Negligent Maintenance |
Knowing or unknowingly rent a vehicle and something mechanically wrong with it and something happens. |
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Negligent Entrustment |
- Knowing rent a car to a person unqualified to rent, or who should not be driving. - No/expired license, intoxicated, Fatigued. |
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Employees Assault |
When employees assault a customer. (threaten/fight) |
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General Liability (3) |
- Slip & Fall - When someone gets injured at our property. - 15p van - CA Law requires the 15p addendum must be signed. - Child Seat - We are never allowed to install a car seat. |
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Uninsured Losses (section) C. L. U. E. |
C - Conversion L - Lot Damage U - Undocumented damage E - Employee damages (OX) |
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Employee Losses (on vehicle) |
- Employee damages our vehicles (OX) - Branch ranch is responsible for the first $2500 per car, the rest is spread out equally throughout the region, including your branch. |
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Employee Liability |
- Damages caused to 3rd parties by an employee. - $2500 responsible from the branch per car. The rest spread. |
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Lot Damage |
- Damages that happen on our lot - $2500 hit the branch, the rest spreads |
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Theft |
- If the aided in the theft (did not secure asset), then - Hit like a conversion |
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Undocumented Damage |
- Damages to our vehicles that we missed during check-in or out. - Branch is responsible for the full amount. |
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Resale Damage |
- Damages on resale - when the remarketing team finds damages. - Branch is responsible for the full amount. +$500 penalty |
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Verified Fraud |
- Verified Fraud - 12month spread. - Branch did everything possible to catch * Does it make sense * 3rd iD * Fraud Detector * ID checking guides * Card and license match * No swipe = No rent * Does the card look and feel fake? |
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Non Verified Fraud |
- Hit like a conversion - Branch missed steps |
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Coversion (section) |
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On Rent Losses (Section) |
- Underwriting - Car Condition - Call Backs - Returns - DW |
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Underwriting |
- Find out why the customer needs the rental. - Verify Findability and Fundability. - Do complete cash qual for debit cards. - Go over the complete rental contract. - All additional Drivers must qualify as if a renter. |
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Car Condition |
- Make sure car is in great condition. - Don’t rent LOFR’s or cars with any kind of issue. |
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Callbacks |
- Keep customers at a credit. - No one should have a balance of over $100 |
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Returns |
- Handle any disputes professionally, but be fair. Go over rental contract again if need be. |
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DW (Damage Waiver) Prices |
Damage Waiver covers the rental vehicle for any damage up to a total loss. - E-CCAR - $10.99/day- I-FCAR - $16.99/day- PCAR & up - $19.99/day- FFAR & up - $26.99/day |
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SLP |
Supplemental Liability Protection provides the renter (and authorized drivers) with liability protection of up to $1,000,000 per accident. (property damage and bodily injury).$11.68/day |
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PAI |
Personal Accident Insurance provider the renter (and authorized drivers) and their passengers with Death ($100,000 Renter, $10,000 per passenger), Medical ($3,500 per person) and/or Ambulance Expense ($150 per person) benefits. Accident Aggregate not to exceed $130,000 per accident. - $4.91/day – Vehicles with seating capacity greater than 10.- $2.68 – All other vehicles. |
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RAP |
Roadside Assistance Protection provides the renter (and authorized drivers) with 24/7 assistance for flat tires, towing fees, jumpstarts, lockout services and fuel delivery service for up to 3 gallons. -$5.99/day |
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DX/Claim (8) |
Complete DX’s help the DRU (Damage Recovery Unit) get our money quickly. - Re-verify renter’s information - Get email - Get detail facts of accident - Police report information - Department and Report# - Renter’s Insurance Info - 3rd party info - RENTER MUST SIGN DX |
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Loss Per Car (Accounting) |
- Goal: $32/car - Accident report quality - 90%, collect - ALL possible info. - Collect deductible. If customer had DW, make sure contract was not voided. |
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Reserves (section) (3) |
- Liability or DR Liability - Comp. & Collect - Calculated on a 12-month rolling average - Control |
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Liability or DR Liability |
– Damages our renters cause to a 3rd party - Calculated on a 3 year average on a Regional bases and changes every Fiscal Year |
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Comp. & Coll |
- Money set aside for damages that may occur to rentals in a revenue generating state |
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Calculated on a 12-month rolling |
Calculated on a 12-month rolling average +10% buffer on a per-branch basis. |
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Control (5) |
- Proper check-ins/outs. -Proper use of Damage Evaluator - Complete underwriting/cash qual. - Callback control- Collecting deductibles. -Asking for insurance info (if customer was not at fault) even with DW. |
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Operating Profit |
Total revenue - Breakeven = operating Profit |
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Math Section) |
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IPC (Total Revenue) |
C & I + Net Other = IPC |
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Formula of net profit? |
Operating Profit + Vehicle Adjustment = Operating Profit |
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What the two ways to increase your C&I(customer & internal) revenue |
Sit tight & selling up |
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How to Calculate you Profit Margin |
Operating Profit /(divide) IPC |
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In what colum of the per unit can pdi credit be found? |
Miscel Expense on the direct cost |
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Straight line depreciation |
Charge cost evenly throughout the use life of a fixed asset |
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In what column of the per unit can PDI credits be found? |
Miscel Expense on the direct cost page |
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How is fleet mix relevant to depreciation expense? |
Depreciation is Expense on the car pool class days a branch has. More expensive cars equal higher depreciation cheaper cars equal less depreciation. |
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Uninsured Losses |
Uninsured losses are damages that happen to an Enterprise vehicle while it is in a non-revenue generating state. |
