January 23, 2018 - Industry News
Darwin today announced a new update to its F&I sales platform designed to address the interpretive rule the Defense Department issued last month under the MLA.
Tags: Compliance, credit insurance, Darwin Automotive, Department of Defense, GAP, Military Lending Act
More than 1.3 million Americans have used AutoGravity’s car-shopping and financing platform, which surpassed $2 billion in finance amount requested in 2017.
CNA National said it has now paid more than $3 billion in claims for all product lines since the company’s founding in 1982. That’s just one of the achievements the company notched in 2017, a year in which the company introduced a new product and passed the four million mark for VSCs in force.
Tags: CNA National, F&I products, vehicle service contracts, Z2 Series
Lending Tree has ranked the used-car brands Americans will stretch their finances furthest to afford.
The launch of J.D. Power Automotive Protection Products marks the data and insight provider’s first foray into the finance office.
The auction company’s directors say record-level activities in 2017 portend further growth for its offsite channels this year.
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
The average price of a used vehicle for model years 2012–’16 depreciated in value by 2.9%. Cars overall dropped by 3.0% and trucks decreased by 2.8% in value during December.
Dominion Dealer Solutions announced the launch of Dominion VUE, a new, cloud-based dealer management system.
January 18, 2018 - Industry News
A free webinar offered by Crowe Horwath will review key considerations for dealers concerned about the effects of the recently enacted federal tax reform.
Add TagRail to the growing list of companies offering a digital retail platform. The company’s online car-buying tool is designed to close more online shoppers through a frictionless online transition from their living room to the showroom.
Tags: auto finance, digital retailing, F&I products, online F&I, TagRail, technology
The Ford Mustang drew more interest from car buyers than any other vehicle for the fourth consecutive year, according to the latest report from Jumpstart Automotive Media.
Drive Motors’ dealer clients sold almost three times as many cars online on Christmas Day 2017 than they did the same day in 2016 thanks to its digital retailing platform, the firm revealed this week.
Tags: auto finance, digital retailing, Drive Motors, online F&I, technology
January 17, 2018 - Industry News
The firm today announced the appointment of Gary Peek, a more than 20-year software industry veteran, as CIO. Also joining the company is Mike Llewellyn, who will serve as product manager for F&I Express’ ecancellation solution, Express Recoveries.
Tags: digital retailing, F&I Express, online F&I, technology
The Land Rover Range Rover earned the highest loyalty score for any luxury full-size SUV in IHS Markit’s 2017 model-year rankings.
Leung brings 20 years of digital media and technology experienced to LotLinx’s growing executive team.
The two new programs are backed by Lyndon Southern Insurance Co. The first provides a trade-in credit of up to $10,000 if a vehicle is involved in a collision and repaired, while the other pledges to cover depreciation (up to $10,000) if a vehicle is stolen and not recovered or is deemed a total loss as a result of an accident.
Tags: AM Best, F&I product, Lyndon Southern Insurance Company, Norman & Co., trade-in value, vehicle depreciation
January 16, 2018 - Industry News
Subcompact crossovers joined the full-size vans and minivans as the truck categories registering the steepest declines in value last week, while subcompact cars joined full-size cars and sporty cars as the depreciation leaders in the car segment.
Tags: Black Book, cars, subcompact cars, subcompact crossover, trucks, vehicle depreciation
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.
January 11, 2018 - Industry News
Complì’s ‘2018 Predictions for Dealers’ webinar will feature a who’s who of automotive industry thought leaders.
A federal judge denied a request by a high-ranking CFPB official for a preliminary injunction to remove President Trump’s appointee as acting head of the agency. The decision sets the stage for a possible appeal.
Tags: auto finance, CFPB, Compliance, dealer markups, Donald Trump, Leandra English, Mick Mulvaney, Richard Cordray
Jeff Bounds, former national sales director for Dominion Dealer Solutions, has joined InteractiveTel as the company’s director of business development.
Through the newly forged partnership, Chase will deliver financing terms online through the AutoFi Platform. The finance source is the first national bank to join the Ford Credit-backed AutoFi platform.
Tags: AutoFi, digital retailing, online F&I
Nearly one-third of licensed U.S. drivers are thinking about buying a new vehicle in 2018 and 15% said they will, according to a new survey commissioned by GM BuyPower Card.
January 10, 2018 - Industry News
The funding round, which will allow Reviver Auto to expand the footprint of its digital license plate, was led by Australian-based ACK Group. The firm also announced the addition of two new members to its board of directors, former Emotient CEO Ken Denman and former R.L. Polk CEO Stephen Polk.
Tags: digital license plate, Reviver Auto
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