Article

Finance

December 2016, Auto Dealer Today - Feature

Physician, Heal Thyself

By Thomas B. Hudson, Esq.

The CFPB’s inability to master the basic vocabulary of automotive finance does a disservice to the consumers whose interests it is charged with protecting.

Tags: Auto Loans, CFPB, Finance, Law, Regulations

October 2016, Auto Dealer Today - WebXclusive

How to Get Bonded With Bad Credit

Photo: Kevin Cabral

By Todd Bryant

Expert offers a six-point checklist for dealers who bring past credit challenges to the surety bond application process.

Tags: Accounting, Credit, Finance

April 2016, Auto Dealer Today - WebXclusive

Launching Special Finance: Part Six

Photo courtesy Tax Credits

By Greg Goebel

Despite a parade of obstacles, Champion Motors’ Red Team pulls out a win in overtime.

Tags: DealerStrong, Finance, special finance, training

March 2016, Auto Dealer Today - WebXclusive

Launching Special Finance: Part Five

Champion Motors’ new SF department hit a couple speed bumps in Month Four but continued to show progress in setting appointments and making sales. Photo by Michael Coghlan

By Greg Goebel

Website and BDC issues have slowed but not stopped the progress of Champion Motors’ new special finance team.

Tags: DealerStrong, Finance, special finance, training

January 2016, Auto Dealer Today - WebXclusive

Launching Special Finance: Part Four

By Greg Goebel

The DealerStrong team experiences the highs of beating expectations and the lows of an underperforming BDC and third-party lead provider.

Tags: DealerStrong, Finance, special finance, training

December 2015, Auto Dealer Today - Feature

Pull That Trigger

By Denny Long

Trigger leads are an effective way to capture in-market car buyers who may have been turned down for financing at another store.

Tags: Finance, Subprime Financing, trigger leads

November 2015, Auto Dealer Today - Feature

The Long View

By Thomas B. Hudson, Esq.

Hudson explains why the regulation of auto sales and finance is less like a battle and more like the Hundred Years War.

Tags: Credit, Finance, legal training, Regulations

April 2015, Auto Dealer Today - Feature

A Prescription For Attitude

Dr. G.P. returns with a powerful new medication that increases effort and performance with very few side effects.

By G.P. Anderson

Dr. G.P. returns with a powerful new medication that increases effort and performance with very few side effects.

Tags: Finance, Finance Manager, possitive attitude, training

February 2015, Auto Dealer Today - Feature

Stick to the Script

A lawsuit against a Minnesota dealer highlights the need to keep the cost of a service contract from being part of the finance charge.

By Thomas B. Hudson, Esq.

A lawsuit against a Minnesota dealer highlights the need to keep the cost of a service contract from being part of the finance charge.

Tags: Finance, financial regulation, Legal, Service Contracts

January 2015, Auto Dealer Today - Feature

Time to Man Up

Photo via istock.com

By Ronald J. Reahard

The auto industry and the finance companies that fuel it have yet to mount a proper response to the CFPB's threats and actions.

Tags: CFPB, compliance, Finance

January 2015, Auto Dealer Today - Feature

Turn Dealbreakers into Dealmakers

Photo: istockphoto.com/yingyang

By Greg Goebel

The art of selling additional cash down payments takes on added importance during the holiday season.

Tags: customer satisfaction, Finance, Sales Tactics, special finance

December 2014, Auto Dealer Today - Feature

The 100% Rule

David Gesualdo, Auto Dealer Monthly Publisher

By David Gesualdo

Your process for total compliance and F&I sales should be designed to meet a common goal.

Tags: compliance, Deceptive Advertising, Finance, FTC

January 2014, Auto Dealer Today - Feature

Regulators' Expectations: The Onus of Compliance

By David Robertson

AFIP founder offers eight answers to the question every dealer in America is asking: What do regulators expect of me?

Tags: AFIP, auto dealer, automotive, car dealer, compliance, David Robertson, Finance, Regulators

December 2013, Auto Dealer Today - WebXclusive

January 2014 Sales Pro: Chris Ashley

By Kelsey Nolan

Chris Ashley of Lithia Toyota of Abilene (Texas) is Auto Dealer Monthly's January 2014 Sales Professional of the Month.

Tags: Chris Ashley, Finance, Lithia Toyota of Abilene, sales, Sales Professional of the Month

December 2013, Auto Dealer Today - Feature

Lose That Number

By Harlene Doane

Dealers are grappling with a set of new regulations designed to limit calls and text messages delivered to mobile phones.

Tags: automotive, CAN-SPAM, compliance, Finance, Harlene Doane, SMS, TCPA, Telephone Communications Protection Act

December 2013, Auto Dealer Today - Feature

Complying With Collections Laws

Some retail installment sales contracts slow the repossession process by requiring dealers to offer customers a chance to cure a default — even though that provision may not be required by state law.

By Tom Hudson

The magazine’s resident legal eagle ponders how laws governing debt collection apply to auto dealers.

Tags: auto dealer, car dealer, Dealership, Debt, Debt Collection, Finance, Legal, Tom Hudson

October 2013, Auto Dealer Today - Feature

Congress, CFPB Tussle Over Finance Legislation

By Jean Noonan

The CFPB has generated some stormy weather over its review of rate participation, but the clouds may finally be parting.

Tags: auto finance, congress the car business, Consumer Financial Protection Bureau, Equal Credit Opportunity Act (ECOA), Finance, pricing discrimination, race profiling, rate markup

August 2013, Auto Dealer Today - Feature

No Discount Available

By Nathan King

Accounting wiz explains why the LHPH contracts you sell to your related finance company don’t qualify for the same deduction you take on BHPH paper.

Tags: Auto Leases, bhph, Deficit Reduction Act, Discount, factoring, Finance, IRS, leasing, LHPH, UCC in section 2A

July 2013, Auto Dealer Today - Feature

Check The Stubs

Greg Goebel is the CEO of Used Car University LLC. GoebelG@AutoDealerMonthly.com

By Greg Goebel

Fraudulent paystubs are a serious threat to your dealership and the trust you’ve built with your finance companies.

Tags: bank fraud, Consumer Financial Protection Bureau, Credit, Credit Applications, Federal Trade Commission, Finance, finance company, fraud, special finance, testimonials

July 2013, Auto Dealer Today - Feature

3 Sales-Killing Words

By Michael Cassinelli

F&I expert identifies three words producers need to avoid at all costs when working with customers. Find out what they are and what words you should use instead.

Tags: auto finance, Customer Service, extended warranties, F&I, F&I pricing, F&I products, Finance, GAP, Pricing, sales, Sales Process, sales skills, Service Contracts, Word Tracks

June 2013, Auto Dealer Today - Feature

Describing F&I's Role

Thomas B. Hudson is a Partner in the law firm of Hudson Cook LLP. THudson@AutoDealerMonthly.com

By Thomas B. Hudson, Esq.

The magazine’s legal eagle dusts off his soapbox to deliver a warning he’s delivered countless times before. But this time, there’s more at stake than the threat of consumer lawsuits.

Tags: Consumer Financial Protection Bureau, discrimination, Finance, Indirect Lending, lawsuits, loans, Regulations, retail installment contracts

June 2013, Auto Dealer Today - Feature

Controlling The Deal

By Gregory Arroyo

Unable to ditch his F&I roots, editor Gregory Arroyo makes a strong case for why the F&I office should have a role in a dealership’s CRM efforts.

Tags: CRM, data mining, effects of the recession, F&I, Finance, incentives, Industry Summit, JM&A Group, Sales Tactics, Web Tools

May 2013, Auto Dealer Today - Feature

Process Breakdown

Greg Goebel is the CEO of Used Car University LLC.

By Greg Goebel

Setting up a process to handle subprime customers takes a serious commitment starts with the dealer and extends all the way through the store.

Tags: Credit Scores, Customer Retention, Customer Service, Finance, special finance, subprime, used vehicles

May 2013, Auto Dealer Today - Feature

The Google Effect

Michael Cassinelli is a sales and finance training specialist from IPS Agency. MCassinelli@AutoDealerMonthly.com

By Michael Cassinelli

Google has definitely become a key sales tool for the people manning the front end, but it hasn’t been too kind to the F&I office.

Tags: Dealerships, F&I, F&I products, Finance, Google, Internet Shopper

April 2013, Auto Dealer Today - Feature

Funding Fundamentals

Greg Goebel is the CEO of Used Car University LLC.

By Greg Goebel

Unfunded deals make life difficult for you, your finance companies and your customers. Our special finance expert lays out a foolproof process for quicker funding.

Tags: F&I process, Finance, finance company, Greg Goebel, loan approval, special finance

February 2013, Auto Dealer Today - Feature

A Momentous Occasion

By Daryl K. Tabor

'Momentum' is the theme of NADA's 2013 convention, where dealers will meet to determine how to build on last year's industrywide gains.

Tags: body shop, effects of the recession, Finance, interest rates, Internet, leadership, leasing, Legal, NADA, NADA Convention and Expo, parts and service, Regulations, sales

October 2012, Auto Dealer Today - WebXclusive

Structuring the Win-Win-Win Deal

By Greg Goebel

Special finance expert Greg Goebel details how to structure a deal that maximizes the dealership's profit opportunity while still making winners of the customer and the finance company.

Tags: BDC, Deal Structuring, Dealer Software, desking, Finance, Inventory Management, ProMax Online, Qualifying Buyers, software, special finance, special finance win win, technology

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