June 7, 2017 - Industry News
The F&I product provider rolled out a new virtual F&I model aimed at powersports and independent dealers, but the executive overseeing the service offered several scenarios in which Simplicity Finance and Insurance can help franchised dealers.
Tags: EFG Companies, F&I process, F&I products, virtual F&I office
American Financial & Automotive Services earned awards in five categories in the 2017 Dealers’ Choice Awards.
David Shear previously served as an independent training consultant, leading a team of 15 facilitators delivering training to 510 Nissan dealerships.
With wholesale used-vehicle prices rising in May, the Manheim Used Vehicle Value Index rose to a record 127.9. The firm noted that dealers purchased the most vehicles at Manheim auctions for the month of May since 2008.
Tags: Manheim Index, new-vehicle sales, showroom, used-vehicle values, Wholesale Pricing
Matt Boyd, who has served in various roles since joining Dent Wizard International in 2005, was promoted to director of operations for the company’s Canadian market.
Tags: Canada, Dent Wizard, F&I products, paintless dent removal
June 6, 2017 - Industry News
With banks retreating from all risk tiers, an executive with CU Direct Lending said the auto finance market is primed for credit unions to pick up more share. In the first quarter, credit unions grew their share of the market by 4%.
Tags: auto finance, credit unions, CU Direct, special finance, subprime, used-vehicle financing
Chief Executive Officer Colin Brown will add board chairman duties while Brent Burns takes on president and COO duties.
MaximTrak Technologies was recognized in the F&I Technology category for the third consecutive year.
The new program was designed to reduce auto dealership turnover by at least 5% in 12 months.
June 5, 2017 - Industry News
The income development company earned a Diamond award in F&I Training and Platinum in the Compliance Training category of Auto Dealer Today’s 2017 Dealers’ Choice Awards, which are voted on by dealers and dealership personnel.
Tags: Auto Dealer Today, compliance, Dealers' Choice Awards, F&I training, UDS
This year's honor marks four consecutive years the F&I product provider has earned Platinum in the Vehicle Service Contract category of Auto Dealer Today's Dealers' Choice Awards.
Tags: F&I manager, F&I office, F&I products, Protective Asset Protection Division
Car buyers are putting down $504 more on a new-vehicle purchase than they did five years ago. But with buyers purchasing pricier cars and interest rates on the rise, something has to give, Edmunds.com analysis said.
Tags: auto finance, down payment, Edmunds, interest rates
The online retailer announced its first board of directors and began trading on the NYSE on June 1 as "CARS."
Despite slowing auto sales and a slight dip in blue sky values, dealership buy/sell activity remained robust in the first quarter, according to the buy/sell advisory firm’s The Blue Sky Report.
Tags: Kerrigan Advisors, Mergers and Acquisitions, The Blue Sky Report
Black Book’s Used Vehicle Retention Index fell to 112.3 in May after enjoying a slight gain in April.
Dealers voted StoneEagle to a Platinum award in the F&I Technology category in the annual Dealers’ Choice Awards.
June 1, 2017 - Industry News
AutoNation named Lance Iserman executive vice president of sales and COO. The more than 15-year company veteran replaces William “Bill” Berman, who resigned last month.
Tags: AutoNation, Bill Berman, Hiring, Mike Jackson
AutoGravity’s mobile financing app is now available in New Jersey. According to company officials, the app has been downloaded more than 400,000 times since its introduction last summer.
Tags: AutoGravity, digital retailing, online F&I
Cox Automotive and Holman Enterprises have announced the launch of Flexdrive, a joint venture designed to offer a subscription option to new-car buyers.
Tags: auto finance, Cox Automotive, Holman Enterprises, mobility
The latest quarterly report from Swapalease.com shows incremental gains for the scandal-marred Volkswagen brand.
Transaction prices continued to climb at a steady rate in May, driven by the weakening sales mix of cars, according to the vehicle information side.
Tags: Average Transaction Price, Kelley Blue Book, new-vehicle sales
May 31, 2017 - Industry News
Not even record incentive spending for the month is expected to keep May retail sales on pace with a year ago, according to the two firms.
Tags: incentive spending, J.D. Power and Associates, LMC Automotive, new-vehicle sales, SAAR
CNAN earned first-place Diamond honors in the Service Contract and Reinsurance categories. The company has been voted a top provider by readers of Auto Dealer Today every year since the awards program was created in 2005.
The new partnership pairs Auto/Mate’s DMS with Dashboard’s data reporting suite. Clients of both companies can now enjoy seamless data exchange and real-time updates.
May 30, 2017 - Industry News
Bank of America is piloting new enhancements to its mobile banking technology that will allow clients to complete the auto financing process directly with the bank on a mobile device.
Tags: Bank of America, digital retailing, mobile app, online F&I
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