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August 18, 2015 - Industry News

RouteOne, Santander to Offer eContracting to All Chrysler Dealers

RouteOne and Santander Consumer USA, along with the finance source’s Chrysler Capital program, will make full eContracting capabilities available to all of Santander’s and Chrysler Capital’s dealers by 2016’s second quarter.

Tags: Chrysler, Chrysler Dealers, eContracting, RouteOne, Santander Consumer USA

August 18, 2015 - Industry News

Dealerships Losing 84% of Phone-Ups, IHS Automotive Reports

An analysis by IHS Automotive commissioned by CallSource found that dealers are failing to convert 84% of inbound prospect calls due to a lack of professionalism and inventory knowledge, among other reasons.

Tags: CallSource, how to sell over the phone, IHS Automotive, phone customer

August 12, 2015 - Industry News

Ohio AG Sues Used-Car Dealer for Title Violations

AMG Auto Connection and its owner are accused of violating Ohio’s Certificate of Motor Vehicle Title Act after the dealership failed to deliver a car title in the time frame required by law.

Tags: Attorney General, Compliance, Lawsuit, Mike DeWine, Ohio, Ohio Attorney general, vehicle title

August 12, 2015 - Industry News

LotLinx Appoints Cofounder CEO

LotLinx announced this week appointed company cofounder Denise Chudy CEO, effective immediately.

Tags: automotive retail, leadership, LotLinx, Promotions

August 12, 2015 - Industry News

Experian: Auto Loan Balances Grow at Fastest Rate Since 2006

The total dollar volume for outstanding automotive loan balances grew by $92 million from the second quarter of 2014 to the second quarter of 2015, the largest dollar volume growth since 2006, according to a report from Experian Automotive.

Tags: Auto Loan Delinquency Rate, Auto Loans, Experian, Experian Automotive, Subprime

August 11, 2015 - Industry News

CFPB Says Santander Violated Fair Lending Laws

The CFPB has notified the Department of Justice that Santander Consumer USA’s auto lending practices have allegedly violated fair lending laws, according to a regulatory filing.

Tags: auto lending, CFPB, Consumer Financial Protection Bureau, Department of Justice, discrimination, DOJ, rate markup, Santander Consumer USA

August 11, 2015 - Industry News

Auto Loan and Lease Balances Top $1 Trillion, Equifax Reports

The auto finance industry originated nine million auto loans through the first four months of year, totaling $182.9 billion. Equifax said these were the highest levels for this time of year since it began tracking auto finance data.

Tags: auto finance, Auto Loans, banks, captive finance, Equifax, F&I manager, F&I Process

August 11, 2015 - Industry News

Toyota Technician Wins International Company Award

Automotive technician Steve Travis was named to the Toyota 2014 Assembly of Champions, the only technician in the United States to receive the honor.

Tags: Awards, Maintenance, Toyota

August 11, 2015 - Industry News

Auto/Mate Video Focuses on Employee Happiness

Auto/Mate Dealership Systems released a new corporate video reflecting the company’s marketing initiative, which emphasizes employee happiness.

Tags: Auto/Mate, Customer Service, employees, Marketing

August 11, 2015 - Industry News

Compliance, CFPB to Take Center Stage at Industry Summit

Industry Summit 2015 will feature three workshops and two panel discussions that will address the current regulatory climate, provide a review of the current rules and regulations, and provide practical tips on how F&I managers can make compliance work for them.

Tags: Andy Koblenz, CFPB, Compliance, Department of Justice, Industry Summit, NADA

August 11, 2015 - Industry News

Service Group’s F&I Analytics Tool is Patent Pending

F&I income development company Service Group has announced that its SG Forensix analytics tool is now patent pending with the U.S. Patent and Trademark Office.

Tags: Analytics, F&I products, Service Group

August 6, 2015 - Industry News

TrueCar’s Painter to Step Down

TrueCar CEO Scott Painter has announced that he will vacate his post in the wake of second quarter losses of nearly $15 million.

Tags: AutoNation, Quarterly Earnings, Scott Painter, TrueCar

August 6, 2015 - Industry News

Industry Summit to Tackle the Online F&I Movement

The magazine’s annual conference will feature two workshops and two panels that will take a look at the digital challenges and opportunities facing the F&I office.

Tags: Brittany-Marie Swanson, David Gesualdo, F&I Process, F&I products, Gregory Arroyo, Industry Summit, online marketing, Ron Reahard, Video Advertising

August 5, 2015 - Industry News

Ziegler to Deliver Profit Masters Seminar at Industry Summit 2015

The Alpha Dawg will return to Industry Summit to deliver his two-day training seminar, which will cover topics related to sales, F&I, BDC and Internet department management. The training seminar is included with the purchase of a full conference pass.

Tags: business development center, F&I director, F&I manager, General Manager, General Sales Manager, Industry Summit, Internet department, Jim Ziegler, Sales Management

August 5, 2015 - Industry News

Bill Aimed at Texas Reinsurance Regulations to Become Law

A bill supported by GSFSGroup will become law on Sept. 1, effectively aligning Texas reinsurance law more closely with regulations in other states.

Tags: GSFSGroup, legislation, Reinsurance

August 4, 2015 - Industry News

Ask Joe Contest Deadline Extended

F&I and Showroom magazine announced today that the deadline to enter the Ask Joe contest, which will send five readers to Industry Summit 2015, has been extended to Aug. 17.

Tags: Ask Joe, F&I manager, IAS, Industry Summit, Innovative Aftermarket Systems, Joe St. John

August 4, 2015 - Industry News

Wells Fargo Dealer Services Opens Second Office in New Jersey

The new location represents Wells Fargo Dealers Services’ 56th Regional Business Center. It’s also the first of two new offices the company plans to open in 2015.

Tags: auto finance, F&I manager, F&I Process, Indirect Lending, Wells Fargo Dealer Services

August 4, 2015 - Industry News

VinSolutions Desking Tool Integrates With Autosoft DMS

The VinConnect Desking tool now integrates with the Autosoft dealer management system, allowing the two systems to share information in real time.

Tags: AutoSoft, Desking, DMS integration, VinSolutions

August 4, 2015 - Industry News

GWC Enhances Top Dealer Programs

The F&I product provider is expanding the ways it rewards its top dealers. The firm announced enhancements to its GWC Elite Dealer Program and introduced a new rewards tier.

Tags: F&I department, F&I manager, GWC Warranty. Used-Vehicle Service Contracts, Service Contracts

July 29, 2015 - Industry News

VisionMenu Adds Four Product Providers to vRate Platform

VisionMenu has integrated Perma Plate, Vehicle Admin Services, ArmorAll, and Total Warranty Services with vRate, a feature of its electronic menu.

Tags: eContracting, F&I menu, VisionMenu Inc.

July 29, 2015 - Industry News

CFS Appoints VP of Partner Development

Confident Financial Solutions has appointed of Tony Orlando as vice president of partner development.

Tags: Hiring, TrueCar

July 28, 2015 - Industry News

NADA Still Pushing For CFPB Transparency

One day after the CFPB rejected its Freedom of Information Act request to release an internal memo that proves the bureau is targeting dealers, the NADA urged members of the U.S. House Financial Services Committee to pass a bill that would repeal the bureau’s auto lending guidance.

Tags: CFPB, Consumer Financial Protection Bureau, dealer markups, discrimination, Honda Financial Services, NADA, National Automobile Dealers Association

July 28, 2015 - Industry News

J.D. Power: Dealers Willing to Pay for Better Lender Services

The firm found that dealers are willing to pay a premium for high-quality service from finance providers, including dedicated underwriters and dealer-focused sales reps.

Tags: eContracting, Floorplan Financing, J.D. Power and Associates, Lender, underwriting and collections

July 28, 2015 - Industry News

Vero Forms New Division With Acquisition of Fidelis PPM

With the acquisition, Vero and Fidelis PPM have formed DRIV Technologies LLC, which will provide dealers with a new prepaid maintenance technology platform designed to drive up customer retention.

Tags: DRIV Technologies, F&I manager, F&I menu, F&I products, Fidelis PPM, Prepaid Maintenance, Vero

July 28, 2015 - Industry News

N.J. Consumer Affairs Division Reaches $25K Settlement with Dealer

The New Jersey Division of Consumer Affairs and AutoSource Group, a used-car dealership, have settled a lawsuit filed by the regulator earlier this year. The dealership was accused of failing to disclose the condition of its cars, among other things.

Tags: consumer complaints, Fraud, Lawsuit, lemon law, New Jersey, Settlement, Used Vehicles