Finance Office

Useful Articles

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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.
Launching Special Finance: Part Two
The DealerStrong team digs in at Champion Motors and finds a few surprises, including a freshly installed CRM.
Prequalify Your Customers Online
An online, soft-pull prequalification process could help dealers sell more cars faster and satisfy new demands from consumers and regulators.
Launching Special Finance: Part One
Welcome to Part One of a six-part series of articles about the launch of a startup special finance operation at an already successful independent dealership on the fringe of a major U.S. metro market.
Solving the CFPB Problem
The man who has led the NADA’s regulatory advocacy efforts since 2006 believes the tide may be turning in the CFPB’s attack on dealer participation.

Finance Office News

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PayLink Payment Plans Updates Look and Website
The company unveiled a new company and launched a refreshed website. The latter is designed to help facilitate access to information for all PayLink Direct customers and prospects.
Edmunds Predicts April Record for Industry Sales
The vehicle information site said this week that April sales are on pace to eclipse the April 2005 sales record of more than 1.5 million units. It also believes the industry is on pace to shatter last year’s 17.5 million-unit sales record.
Group 1's U.S. F&I Operations Delivers Record Q1 Performance
The dealer group's U.S. F&I operations increased its per-copy average by $26 to a record $1,564. Including operations in the United Kingdom and Brazil, the group's consolidated average increased 0.7% to $1,385.
EFG Companies Adds OEM and Reinsurance Veteran to Leadership Team
The F&I product provider has named Richard Christensen, a 25-year veteran of the automotive retail industry and reinsurance business, vice president of product development.
N.Y. Dealer Admits to Falsifying Auto Loan Applications
N.Y. Dealer Gerald McDonald pleaded guilty last month to submitting fraudulent loan documents to financial institutions. He faces a maximum of five years in prison and a fine of up to $250,000 when he is sentenced on July 19.
ChannelNet to Build Customer Management Portals for Hyundai Capital Canada
ChannelNet announced this week it will begin building customer lifecycle management programs and dealer portals for Hyundai Motor Finance and Kia Motors Finance in Canada as part of its new contract with Hyundai Capital Inc.
Demand for Alternative Fuel Vehicles Dwindling
The percentage of alternative-fuel vehicles in the overall automotive market has dwindled over the last three years, the NADA Used Car Guide said this week. Hybrids continue to make up the majority of the alternative fuel market, but data does show consumers are beginning to shift toward electric vehicles in greater numbers.
KBB: Low Fuel Prices Have Used-Vehicle Buyers Flocking to High-Performance Segments
Used-vehicle buyers are turning to sports cars in greater numbers thanks to low fuel prices, which are allowing them to forego fuel efficiency in favor of performance, KBB said this week.
F&I, Fixed Ops Lead the Way for Sonic in Q1 2016
Record F&I and fixed-ops gross profit helped Sonic Automotive offset low vehicle sales. But the big story for the publicly traded dealer group was the performance of the F&I offices at its one-touch EchoPark dealerships. They increased their per-copy averages by 54.1%.
RoadVantage Rolls Out GPS Anti-Theft System
RoadVantage's newest product bundles GPS tracking with vehicle theft protection. Dealers can use it to keep track of and protect their inventory, while consumers can take advantage of a host of family safety features.