January 29, 2018 - Industry News
The online retailer will introduce a series of enhancements designed to deliver higher quality leads to auto dealers and add transparency and speed to the customer experience.
Tags: Autotrader, digital marketing, digital retailing, online F&I, showroom, Third-party leads
February 13, 2018 - Industry News
BB&T announced its move about a week after the CFPB’s acting director stripped enforcement powers from the division responsible for pursuing discrimination cases in the auto finance arena. BB&T will officially make the switch on March 14.
Tags: auto finance, BB&T, CFPB, compliance, dealer participation, Mick Mulvaney
December 20, 2017 - Industry News
Based on an interpretive rule issued by the Defense Department on Dec. 14, including credit-protection products like GAP in a servicemember’s vehicle finance contract could subject it to a slew of restrictions and requirements under the Military Lending Act (MLA).
Tags: compliance, credit insurance, Department of Defense, F&I products, GAP, Military Lending Act, National Automobile Dealers Association, servicemembers
February 22, 2018 - Industry News
A Hudson Cook attorney told industry trade groups in a Jan. 18 memo that the Defense Department’s Dec. 14 interpretative rule, combined with something else it did in July 2015, makes it ‘highly unlikely that any dealer or finance source will be willing to originate or purchase’ a vehicle finance transaction if credit-protection products are included.
Tags: auto finance, compliance, credit insurance, Department of Defense, GAP, Hudson Cook, Military Lending Act
February 14, 2018 - Industry News
Cars.com announced the impending acquisition of Dealer Inspire and Launch Digital Marketing, a move designed to augment Cars.com’s retailing platform with a range of dealer-focused digital solutions.
January 22, 2018 - Industry News
Zurich North America is reshaping its dealer P&C portfolio to address 'persistent underperformance due to continued volatility associated with large and catastrophic hail losses." As a result, Zurich will focus heavily on F&I in 2018, a spokesperson said last week.
Tags: F&I office, F&I process, F&I products, P&C insurance, vehicle service contracts, Zurich
Only 16% of the 1,500 dealerships mystery-shopped by Digital Air Strike responded to internet leads within 15 minutes and 18% didn’t respond at all. Those are just some of the findings in the social media firm’s first Mystery Shop Study.
Tags: Digital Air Strike, digital marketing, Facebook, Internet Leads, social media
February 1, 2018 - Industry News
According to the company, certain dealers who are parties to the Genesis Participation Agreement (GPA) and operate in “defined key markets” will be given first opportunity to apply for the Genesis franchise.
Tags: Dealer Network, facility upgrades, Genesis, Hyundai
January 30, 2018 - Industry News
Autotrader has listed the top 10 certified pre-owned models for new-car buyers on a budget.
January 31, 2018 - Industry News
Nissan Motor Acceptance Corp. became the latest captive to join AutoGravity’s digital marketplace. The captive's financing options are currently available on the firm's mobile app in California and will be available nationwide in mid-2018.
Tags: AutoGravity, digital retailing, mobile app, online F&I, showroom
January 24, 2018 - Industry News
CDK Global details four actions dealers can take to boost service department revenue in a new report.
February 6, 2018 - Industry News
Data collected by Kelley Blue Book and Dealer.com shows which factories and brands benefited from their significant investments in Super Bowl airtime.
Dominion Dealer Solutions announced the launch of Dominion VUE, a new, cloud-based dealer management system.
Tesla’s ‘Autopilot’ setting has once again drawn interest from regulators after a Model S plowed into a parked firetruck.
Ally Financial said it will make up to $750 million available to DriveTime for the purchase of retail contracts over the coming year.
Tags: Ally Financial, auto finance, DriveTime, used vehicles
January 25, 2018 - Industry News
The approval settles the FTC's December 2017 complaint against Dallas-based Cowboy Toyota regarding its Spanish-language newspaper ads. The regulator charged the dealership with violations of the FTC Act, TILA and the Consumer Leasing Act.
Tags: auto finance, compliance, Cowboy Toyota, Deceptive Advertising, Federal Trade Commission, leasing
January 16, 2018 - Industry News
Cox Automotive’s ‘Future of Digital Retail Study’ reveals that dealerships remain central to the car-buying experience, but the instore experience tends to fall short of consumer expectations.
The online retailer will introduce a series of enhancements designed to deliver higher-quality leads to auto dealers and add transparency and speed to the customer experience.
For its new Total Ownership Experience Awards, J.D. Power looked at results from its five iconic automotive studies to determine which automakers do the best job overall of satisfying customers through the different stages of vehicle ownership.
Tags: Buick, CSI, Customer Service Index, J.D. Power, Porsche, sales satisfaction, Total Ownership Experience Awards, Vehicle Dependability
July 13, 2017 - Industry News
The Guaranteed Asset Protection Alliance, a lobbying group made up of GAP providers, administrators and finance sources, was instrumental in getting two of the three laws passed — the most recent state to adopt its model act being Maine.
Tags: compliance, F&I products, GAP, GAPA, GAPWise, Guaranteed Asset Protection Alliance, insurance, Regulations, Rob Berger, Timothy Meenan, Wise F&I
The average transaction price for a new light vehicle sold in the U.S. was $36,270, down slightly from December but up 3.9% from the year-ago period.
The purchaser and service of vehicle loan portfolios said it has been retained by an unnamed, multinational investment firm to source $50 million worth of subprime auto loan portfolios.
Tags: auto finance, Innovate Auto Finance, subprime
Prodigy’s full-stack automotive retail sales solution enters a new phase after earning $5.4 million in seed funding from a group of venture capitalists led by 8VC, Battery Ventures, SV Angel and CrunchFund.
February 8, 2018 - Industry News
Carvoy Ignite was designed to benefit dealers and customers by facilitating the sale of new-vehicle leases online.
Tags: CarVoy, Online Marketplace, Online Shopping
The F&I product provider issues a call to action to dealers, finance sources and its partners, warning that data security is one of the largest areas of concern in 2018.
Tags: breach, data security, digital retailing, EFG Companies, online F&I, technology
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