Pub. 18 2019-2020 Issue 2

N E W J E R S E Y C O A L I T I O N O F A U T O M O T I V E R E T A I L E R S I S S U E N O . 3 , 2 0 1 9 30 new jersey auto retailer AUTOMOTIVE ADVISORS PROFESSIONALISM • QUALITY • RESPONSIVENESS Our team has over 30 years of extensive knowledge and experience with the automotive industry. Our firm provides individual attention to each client, helping to maximize their bottom line. • Financial Reporting • Tax Planning • LIFO Inventory Application • Performance Benchmarking Please contact one of our partners. Daniel J. Ferrari, CPA Amy M. Dillon, CPA John J. Entz, CPA 2755 Philmont Avenue, Ste 210 Huntingdon Valley, PA 19006 215-914-1400 www.danferrari.com Use the red key. ® Our end-to-end financing solutions help dealerships grow and customers buy. All credit products are subject to credit approval. Key.com is a federally registered service mark of KeyCorp. ©2017 KeyCorp. KeyBank is Member FDIC. 170912-290440 As a full-service dealer finance company, we understand the challenges you face. Whether for retail or commercial operations, we deliver comprehensive solutions that drive your business forward. Visit key.com/dealer or contact David Stevenson, Commercial Services, at 610-212-4276 or Brian Meierhofer, Retail Services, at 973-222-9474. Your merchant statements may seem more complicated with IC-plus because there will be many transaction types listed, each with its own unique IC rate. But the major advantage here is gained transparency into what you’re being charged. You’ll have a true understanding of what you’re paying your provider versus what gets paid to the card brands. The Best Credit Card Processing Rates Ensure Savings As we mentioned earlier, the rate plan that best fits your business depends on whether your business is new and how much you process in credit card transactions. Flat rate plans are simple, and have a quick set up, but are expensive. Tiered rate plans can be more cost effective than Flat, but they take longer to set up and give your provider room to hide fees. For mature businesses looking for transparency and next-day funding, IC-plus is the way to go. Every business is different, but all strive to save where they can. Get a professional analysis of your current merchant statements and find out if it’s time for a new payment pro- cessing rate plan. Be proactive and take the time to determine which rate plan is best for you. What payment processing rate plan are you on? Is it the best plan for your business? Contact us for more information regarding the best option for your dealership. Steve Weissman is a senior sales consultant with PayJunction. He can be reached at 732.806.1176 or via email at SteveW@paperlesspymnts.com . As we mentioned earlier, the rate plan that best fits your business depends on whether your business is new and how much you process in credit card transactions. Flat rate plans are simple, and have a quick set up, but are expensive. Tiered rate plans can be more cost effective than Flat, but they take longer to set up and give your provider room to hide fees. CREDIT CARD RATE  continued from page 29