June 26, 2017 - Industry News
The pre-owned dealer group’s online prequalification portal played a key role in its captive finance company's 7% increase in first-quarter originations. The group is currently testing a home-delivery service as well as an online vehicle appraisal tool.
Tags: auto finance, CarMax, CarMax Auto Finance, digital retailing, online F&I
June 23, 2017 - Industry News
1st Equity becomes one of two independent monthly budget payment brands available in the Lone Star State.
June 22, 2017 - Industry News
American Financial’s John Vecchioni will return to Industry Summit as the event’s master of ceremonies.
Tags: American Financial & Automotive Services, F&I Think Tank, F&I training, Industry Summit, John Vecchioni
Industry Summit will once again play host to the Special Finance Conference, the industry’s premier SF training event.
Tags: auto finance, Greg Goebel, Special Finance Conference, subprime, used-vehicle sales
June 21, 2017 - Industry News
Dealertrack’s new, LEED-specified building will house 600-plus employees and an enviable range of amenities designed to promote productivity, health and wellness.
Veteran trainer and compliance expert Gil Van Over will deliver a luncheon presentation dedicated to ‘Your Responsibilities’ at Dallas Compliance Summit in September.
June 20, 2017 - Industry News
US Equity Advantage won the first-place Diamond award in the Biweekly Payments category for the third straight year.
Auto loan defaults fell to a 10-year low in May, squashing concerns about a forming subprime auto loan bubble. But not all consumer credit categories were a picture of health in May.
Tags: auto finance, default rates, F&I office
Jumpstart’s latest report shows loyalty to sedans continues to grow despite exponential gains in all SUV segments.
The Academy’s Tony Dupaquier will serve as emcee of F&I Think Tank, organizers announced this week. The trainer and F&I futurist will be responsible for guiding the discussions during the F&I 20 Group-like event.
Tags: dealer, digital retailing, F&I director, F&I manager, F&I process, F&I Think Tank, Industry Summit, objection handling, online F&I
Lease applicants registered a 48.1% approval rate, the lowest level since the car lease marketplace began tracking the stat in 2014. The firm explained that the rise in consumer interest for luxury SUVs is what’s driving the uptick in declines.
Tags: F&I process, lease, new-vehicle sales, Swapalease.com
June 19, 2017 - Industry News
J.D. Power Valuation Services’ seasonally adjusted used-vehicle price index managed to increase for the first time in a year. While positive, May’s index figure was 7.6% below May 2016.
Tags: J.D. Power, NADA Used Car Guide, used-vehicle values, Wholesale Pricing
A new survey from IHS Markit finds car buyers are intrigued by advanced in-vehicle technology, but their willingness to pay is limited to some telematics apps and creature comforts.
The owner of City Auto in Memphis, Tenn., encouraged fellow independent dealers to keep pace with the rapidly changing automotive marketplace, saying, 'These are the times ripe with opportunities, times for making the seemingly impossible possible.'
Tags: David Andrews, Independent Dealerships, National Independent Automobile Dealers Associatio
June 15, 2017 - Industry News
The KAR Auction Services business unit announced management changes at three of its 77 North American auction location. The company promoted leaders in Arizona, Tennessee, and Florida.
Tags: ADESA, Auto Auctions, Kar Auction Services, wholesale prices
Auto Gravity and the Fletcher Jones Auto Group have launched ‘FJ Drive,’ a real-time smartphone inventory app.
The Federal Open Market Committee approved a quarter-point hike in the federal funds rate. While auto loans aren’t expected to change much, the rate increase will cost credit card users roughly $1.5 billion in extra finance charges this year, according to one estimate.
June 14, 2017 - Industry News
Robert Harkins of AGWS has signed on to once again serve as the event’s master of ceremonies.
The next edition of ‘The Best Training Day Ever’ will be held as part of Industry Summit in Dallas this fall.
June 13, 2017 - Industry News
F&I trainer Shaka Dyson is bringing his F&I 20 Group to Dallas for F&I Think Tank 2017. The ‘record-breaking’ F&I trainer will also participate in two panel discussions, including F&I Think Tank’s stump the pro-like Shark Tank.
Tags: F&I manager, F&I process, F&I Think Tank, F&I training, Industry Summit, objection handling
Four days after the U.S. House passed a bill aimed at reversing a number of Dodd-Frank financial regulations and scaling back the CFPB’s authority, the Treasury Department recommended that the bureau’s powers be reduced in a report containing more than 100 suggestions for financial reform.
Tags: auto finance, CFPB, compliance, Consumer Financial Protection Bureau, dealer markups, dealer participation, Dodd-Frank Act
F&I Express won its second consecutive Diamond award in the F&I Technology category in the 2017 Dealers’ Choice Awards.
June 12, 2017 - Industry News
The connection will allow users of ELEAD1ONE’s Service1One Lane Management App to access Recall Masters’ real-time vehicle recall lookup tool.
Tags: ELEAD1ONE, parts and service, Recall Masters, vehicle recall
A coalition of 13 attorneys general led by New York Attorney General Eric Schneiderman told the Trump administration it could expect a "vigorous" legal challenge to any attempt to weaken pollution standards for light-duty vehicles.
Tags: attorney general, CAFE Regulations, compliance, emissions, Eric Schneiderman
A survey of more than 9,000 vehicle owners found that 38% of them plan to buy used on their next purchase. That percentage grew to 53% among individuals under 40 years ago age.
Tags: Autolist.com, new-vehicle sales, used-vehicle values
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