Finance Office

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David Gesualdo, Auto Dealer Monthly Publisher. Taking the Lead
Converting leads and increasing sales in today’s marketplace may require some dealers to abandon long-held beliefs.
Dealers who believe F&I should move to the front of the sales process should start with their websites.  Revolution Begins at Home Pages
Dealers who believe F&I should move to the front of the sales process should start with their websites.
A lawsuit against a Minnesota dealer highlights the need to keep the cost of a service contract from being part of the finance charge. 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.
David Gesualdo, ADM Publisher On Target
A changing industry requires increased focus on customers and the factors that drive their buying habits.
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: Turn Dealbreakers into Dealmakers
The art of selling additional cash down payments takes on added importance during the holiday season.
Photo via The Inventory Tsunami
As predicted, November brought big book drops to used-vehicle inventories nationwide. Special finance guru lays out a plan for beating the winter blues, moving the metal and planning for success in 2015.
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.

Finance Office News

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FTC Announces Multi-Agency Crackdown on Dealership Fraud
The FTC's enforcement sweep, which resulted in six new cases and $2.6 million in monetary judgements, marks the first time the agency has targeted add-on products and services since it was granted authority over auto dealers under the Dodd-Frank Act.
Former Regulator Joins Midwest Compliance Summit
Organizers announced today that Reynolds and Reynolds’ Terry O’Loughlin, who spent 16 years in the Florida attorney general’s office, will kick off the Rules and Regulations portion of the event.
CFPB to Allow Consumers to Voice Complaints Publicly
The CFPB is finalizing a policy that would allow consumers to publicly share their stories when they submit complaints to the bureau. The regulator is also seeking public comment on ways to highlight positive consumer experiences.
Cordray: CFPB Disagrees With Conclusions of CRA Study
CFPB Director Richard Cordray fielded questions about dealer compliance programs and a recent study calling out the bureau’s methods for determining discrimination during a semi-annual report to Congress earlier this month.
Westlake Financial Adds ACI UP Bill Payment Solutions
ACI Up Bill Payment Solutions will allow Westlake customers to pay their loans with a debit card or ACH, which can accept payments online, through a mobile device, or via phone or text.
GWC Warranty Celebrating 20 Years in Business
F&I product provider GWC Warranty is celebrating its 20th year of business in 2015.
LendingTree Study Indicates Subprime ‘Auto Bubble’ Unlikely
A new study from LendingTree contradicts media claims of a subprime bubble. It shows that finance sources are not taking part in risky lending practices despite growing subprime originations.
Autosoft Certifies StoneEagle Technology Solutions for Integration With FLEX DMS
StoneEagle has completed the certification process for integration with the FLEX DMS as part of Autosoft’s FLEX Connect Program.
CNA National Named Finalist for BBB Award
The Better Business Bureau of Central, Northern and Western Arizona named the F&I product provider a finalist for the 2015 BBB Business Ethics Awards.
Santander Agrees to $9.35 Million DOJ Settlement
Santander has agreed to settle charges that it illegally repossessed more than a thousand cars it financed for active service members over a five-year period.