Finance Office

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Magazine Offers Details on Compliance Summit Program
Scheduled for Aug. 29-30, Compliance Summit is designed to deliver a crash course in federal regulations and enforcement action to help dealers, agents and industry execs build sustainable sales and F&I processes without sacrificing productivity and profitability.
Certified for the Future
The magazine’s compliance pro breaks down Compliance Summit’s new certification component. He explains how it’s designed to address the industry’s true regulator.
4 Benefits of Centralized Accounting
Multistore dealers are using centralized accounting practices to improve consistency, productivity, and customer and partner relationships — and, most importantly, save time and money.
Feed the Need
The time to reexamine your fair credit compliance policies and programs has come. Expert identifies five crucial areas of exposure.
In the finance office, products that fit the needs of the customer, their vehicle and your market offer real value and drive real profits.  The Why of F&I
Justifying the existence of the F&I department requires dealers to take a hard look at the value it offers to customers and its effect on the sales process.
David Gesualdo Pushing Boundaries
New technology is not a substitute for salesmanship, but it can create more opportunities to do business the right way.
Enduring Optimism
Dealer Summit comes to Tampa with lofty goals and high expectations.
Pull That Trigger
Trigger leads are an effective way to capture in-market car buyers who may have been turned down for financing at another store.
Owners Jill and Jeffrey Merriam are a brother-and-sister team at Key Hyundai. Photo: Lisa Cascone The Dealer for the People
Jill Merriam set out to change the car business mentality, and her ‘Dealer for the People’ campaign and experiments with personnel and processes have paid dividends for Key Hyundai.
Photo: ©ISTOCKPHOTO.COM/KZENON Launching Special Finance: Part Three
With a fully operational SF department, the DealerStrong team shifts their focus to finding, selling and financing customers.

Finance Office News

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Alpha Warranty Services Releases Claims Tracker
Alpha Claims Tracker allows vehicle owners, dealers, and even agents to track claims in real time on a mobile device. The F&I product provider said the new offering is designed to improve the customer experience.
Auto Finance to Get More Competitive, Equifax Reports
Slowing demand for new vehicles points to auto finance sources having to contend with increased compeittion for consumer loans. That was the conclusion of Equifax's Nation Consumer Credit Trends report for August, which showed that auto originations for the first six months of year grew 3.5% compared to a year ago.
CareGard Appoints New President
CareGard has appointed Guy Koenig as its new president, the company announced on Monday. Koenig succeeds Wright Brewer, who is staying on as CEO and chairman and will continue to play a key role in the company’s growth.
Fed Leaves Rates Unchanged
While the industry welcomed the Fed’s 7-3 decision not to raise interest rates a quarter point, market watchers say even a full percentage-point increase wouldn’t impact the current pace of auto sales. The Fed is still expected to raise rates a quarter point by the end of the year.
Reynolds Now Offers 30 State-Specific F&I Documents Libraries
Reynolds Document Services has developed 30 state-specific Reynolds LAW brand F&I documents libraries, surpassing the midway point to its goal of creating document libraries for all 50 states.
CFPB Sues Five Arizona Auto-Title Lenders
The bureau charged the title lenders with violating the Truth in Lending Act for failing to disclose annual percentage rates in online loan advertisements. It is seeking civil monetary penalties and administrative orders requiring the companies to correct their practices.
OptionSoft, CDK Lightspeed Announces Data Integration
The integration allows powersports, marine and RV dealers using OptionSoft's desking, CRM and F&I menu tools to pull sales, F&I, inventory, and customer data from the CDK Lightspeed DMS.
GSFS Group Launches F&I Performance Reporting Tool
The F&I product provider's Dealer Executive Dashboard provides dealers and agents with access to extensive claims analytics, customer retention data, performance reports, dealer comparisons, and participation structure information.
S&P/Experian: Increase in Default Rates ‘Gives Little Reason for Concern’
The bank card default rate showed the only decrease in August, falling six basis points from July to 2.86%. Auto loan defaults rose eight basis points to 1.01%, but an official with the S&P Dow Jones Indices said the ‘overall credit picture gives little reason to be concerned about default rates.’
NAE Hires National Sales Manager
F&I product provider National Automotive Experts/NWAN named Ryan Nelson as its new national sales manager. He has been in the business since 1995 and most recently served as executive vice president for Spencer Re.