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: istockphoto.com/yingyang Turn Dealbreakers into Dealmakers
The art of selling additional cash down payments takes on added importance during the holiday season.
Photo via istock.com 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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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.
J.D. Power Projects Best February Sales in 13 Years
Total light-vehicle retail sales are expected to reach 1.3 million units in February, the highest total for the month since 2002, according to projections from J.D. Power and LMC Automotive.
CNA’s Participation Plans Distribute More Than $38 Million in 2014
To date, the F&I product provider has returned $329 million through its dealer participation plans, with company officials noting that 2014 distributions exceeded the highest return since the inception of those programs.
EFG Compliance Officer Earns Consumer Credit Compliance Certification
EFG's Karen Klees became one of the first 100 compliance officers to earn certification under the NAF Association's new program. Last April, the company's entire dealer services team earned AFIP certification.
Automakers Report Strong January Sales
January’s total new-vehicle sales increased 13.7% from a year ago to 1.51 million units, according to Autodata Corp. January’s seasonally adjusted annual rate was 16.66 million, a slight dip from the 16.92 million SAAR recorded in December.
Ally Financial Names New CEO
Jeffrey Brown, who headed up Ally’s dealer-financial services business, will succeed Michael Carpenter, who is retiring from his post and from the company’s board after five years.
Black Book: Vehicle Depreciation to Rise in 2015
Vehicle depreciation is expected to increase in 2015 as a larger used-car supply and off-lease volumes place pressure on retention rates, according to a report from Black Book and Fitch Ratings.
CNW: January Used-Vehicle Sales Total 2.38 Million Units
The research firm attributed the 2% gain in used-vehicle sales to higher CPO sales and a growing inventory of fresh off-lease vehicles. Even independents felt the trickledown effect of quality used vehicles.
DealShield Launches Vehicle Sourcing Training
The firm now offers a Certified Buyer Program designed to educate buyers on risk mitigation when purchasing auction vehicles.
CPS Subpoenaed By DOJ
This month, the Department of Justice issued a subpoena to Consumer Portfolio Services requiring the finance source to turn over documents related to subprime auto finance.