Finance Office

Useful Articles

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Fixing the F&I Time Delay
Self-selection tools can reduce your average turn, accelerate deliveries, and improve F&I production.
Requiring Buyers to Buy Service Contracts? Read This.
Learn how generic retail installment contracts and insufficient disclosures can turn a legal transaction into a costly violation of TILA, Reg Z, or your state’s finance charge rules.
4 Ways to Attract and Keep Millennials
Erase the showroom stigma by making your dealership the workplace of choice for motivated and purpose-driven millennials.
Eric Johnson, partner at Hudson Cook LLP The CFPB’s Spirit Lives On
In the first of a series of F&I Think Tank webinars, attorney Eric Johnson offered a wake-up call to dealers and F&I professionals who thought the industry won a decisive victory over the Consumer Financial Protection Bureau when the federal agency’s auto finance guidance was rescinded in May.
3 Ways to Improve Training in Your Store
When managers demonstrate discipline in scheduling, preparing for, and delivering training, sales and F&I professionals develop the skills they need to meet and exceed their goals.
5 Ways Dealer Tech Has Failed Us
Critical thinking, sales and F&I training, and customer satisfaction are just a few victims of the wave of technology that has completely engulfed many auto dealerships.
Leasing Automation Is the Answer
MUSA Auto Finance’s Richard Frunzi encourages dealers to automate the leasing process to their own benefit and that of their customers.
Fraud Alert: Dealer Loses $88K to ID Thief
A web-savvy sales manager made a sweet deal that went sour when the ‘buyer’ turned out to be a sophisticated online scammer.
How to Achieve Compliance Confidence
Got three minutes? Read this three-part briefing on the agencies, topics and resources you need to know to avoid compliance issues in 2018.
Find Technology That Supports Your Winning Strategy
Arm yourself with the three questions every dealer should ask of every technology provider.

Finance Office News

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FTC Shuts Down Websites Offering Fake Pay Stubs for Sale
The operators of websites that sold fake pay stubs and other financial documents have agreed to permanently shut down their business as part of separate settlements with the Federal Trade Commission, the regulator announced this week.
Black Book HAV Data Now Integrated Into defi SOLUTIONS’ LOS Platform
Defi SOLUTIONS is the first loan origination platform to include Black Book’s History Adjusted Valuations data feed. Users can now identify undesirable deals prior to the origination process, improve advance amounts, prevent fraud, and use HAV to set floors more accurately when remarketing.
Brown & Brown Acquires F&I Resources
With the acquisition, terms of which were not disclosed, the F&I Resources team will become part of Brown & Brown’s auto, RV, and powersports practice, which operates under the leadership of Mike Neal, president of the company’s Brown & Brown of Kentucky subsidiary.
Regional Acceptance Joins Dealertrack Accelerated Title
The subprime finance source has selected Dealertrack's Accelerated Title solution to handle its title and release process for dealers accepting cars in on trade.
CDK Global Adds AutoFi, New Integrations to Fortellis Commerce Exchange
CDK Global announced on Tuesday that AutoFi has agreed to consume digital retailing APIs from the Fortellis Automotive Consumer Exchange Platform. Equifax, one of the platform’s inaugural publishers, also said on Tuesday it will publish new APIs for the platform.
Total Outstanding Auto Portfolio Balances Top $1.25 Trillion
Total outstanding auto portfolio balances reached $1.27 trillion through May, the first time balances have surpassed $1.25 trillion.
Ganther to Tackle MLA, CFPB, Employee Privacy at Compliance Summit
Attorney, dealer compliance expert, and Compliance Summit regular Jim Ganther will take on such pressing topics as the Military Lending Act revision, compliance in the post-CFPB era, and employee privacy in a workshop session at the upcoming event.
Pa. Dealer Agrees to Pay $2.1 Million to End Prosecution Into Bank Fraud
According to the U.S. Attorney’s Office, Hallman Chevrolet falsified loan documents as well as costume jewelry brought in by customers as collateral for purported down payments over a six-year period beginning in 2009. The dealer, David Hallman, accepted responsibility for the scheme and agreed to pay a $1.4 million fine and more than $737,000 in restitution to end federal prosecution.
AG Coalition: CFPB Has 'No Authority to Overrule' High Court’s ECOA Interpretation
A coalition of 14 attorneys general warned CFPB Acting Director Mick Mulvaney against taking any action to reinterpret ECOA as not providing for disparate impact liability — signaling that the fight over dealer participation might not be over.
Edmunds: Zero Percent Finance Deals Evaporate in August
Two years ago, zero percent finance deals accounted for 14.6% of transactions. Last month, they only accounted for 7.4%. Edmunds analysts point to higher interest rates as one of the reasons for the scarcity in zero percent finance deals in August.