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.
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.
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.