Finance Office

Useful Articles

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It’s Monday, But That’s OK
F&I pros can escape the weekly grind by focusing on authenticity and turning car buyers into loyal customers and dealer advocates.
Combining the efforts of sales and F&I could negatively affect customers by narrowing their financing options. F&I professionals must be trained to demonstrate the value of all types of financing, including dealer-arranged financing.  Saving F&I
Before you eliminate your F&I department, bring it back to life by clearly delineating its purpose and establishing its value to your customers.
Women Are Not a Moving Target
Simple promises and superior results are the key to marketing your dealership to women.
Event Space
The size and scope of Industry Summit continues to change with time and the demands of the market.
Cutting Keys
Sales and F&I managers can defuse interdepartmental conflict by walking a mile in their co-workers’ shoes.
Lead With Commander’s Intent
Empower your staff by making your objectives clear and giving them room to work.
The Great A/B Experiment
Google is taking a ‘multi-armed bandit’ approach to A/B experimentation. Expert says dealers can take advantage by rethinking their own website testing methods.
Regulators' Expectations: The Onus of Compliance
AFIP founder offers eight answers to the question every dealer in America is asking: What do regulators expect of me?
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. Complying With Collections Laws
The magazine’s resident legal eagle ponders how laws governing debt collection apply to auto dealers.
cOURTNEY cOLE IS THE CO-O Fundamentally Sound: Don't Forget the Sales Basics
Technology can’t change the game on its own. To remain profitable, dealers still have to be focused on the fundamentals.

Finance Office News

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‘Great Deleveraging’ Has Ended, Equifax Reports
Consumers are back in the borrowing business, with November consumer credit data from Equifax showing that nonmortgage credit balances rose to their highest level in five years.
Bob & Chuck Eddy Expand MOTOR TREND Certification Program
The dealer group has added two more stores to the MOTOR TREND certified program. They’re located on Grove City, Pa.
CFPB Needs a New 'Tool,’ Study Finds
F&I and Showroom delves into a new study commissioned by the American Financial Services Association. It concludes that the CFPB’s use of the BISG proxy method is “conceptually flawed” and could lead to overstatement of alleged harm to consumers.
CFPB Methodology Flawed, New Study Concludes
A new study released by the American Financial Services Association finds bias and high error rates in the CFPB's proxy methodology for determining disparate impact.
Automotive Credit Corp. Joins AppOne Platform
Automotive Credit Corp. is now on Wolters Kluwer Financial Services’ AppOne platform, allowing it to automate credit approval and compliance processes.
Crisorio Named Compliance Summit Keynote Speaker
The president and CEO of United Development Systems will open the new compliance event with a keynote address. He will offer his take on how dealers can stay out of the crosshairs of what many believe to be government overreach.
Sonic’s Hybrid F&I Pilot Experiences Training, Staffing Issues
Officials said the Charlotte test store was overwhelmed by sales and paperwork. F&I performance rebounded, however, after the group added document specialists.
Exeter’s Floyd Stepping Down from CEO Post
Mark Floyd will join Exeter's board of directors and will work with his replacement, Thomas Anderson, to ensure a smooth transition, the company said late yesterday.
Inaugural Compliance Summit Set for Nov. 10-11
The new event is designed to offer actionable compliance solutions to dealers and their partners. It will be held at the Seminole Hard Rock Hotel & Casino in Hollywood, Fla.
John Pappanastos, CEO of EFG Companies Minnesota AG Sues EFG Over Service-Contract Refunds
Attorney General Lori Swanson is suing EFG Companies for deceptive practices because it failed to deliver on its promise of full refunds for VSCs canceled within 30 days. The company’s CEO tells F&I and Showroom his company will be exonerated once all the facts are presented.