July 6, 2017 - Industry News
At a record 69.3 months, average new-vehicle finance terms have stretched 6.8% from five years ago. The average amount financed and average monthly payment also registered new highs.
Tags: average finance amount, average term, Average Transaction Price, Monthly Payments
With its announced investment, Volkswagen’s captive finance company joins the automotive fintech firm’s mobile car shopping and financing platform. VW Credit also launched its own AutoGravity-powered smartphone app.
Tags: auto finance, AutoGravity, Captive, digital retailing, online F&I, Volkswagen Credit
Premier Chevrolet Buick GMC was selected to be the first dealership in West Virginia able to certify its pre-owned vehicles with the exclusive Motor Trend Certified designation. The dealership began selling Motor Trend Certified vehicles in May.
Tags: EasyCare, Motor Trend, Premier Chevrolet Buick GMC, pre-owned, used-vehicle sales
July 5, 2017 - Industry News
The dealer was selected to be the only dealership in Lexington, Ky., able to certify its pre-owned vehicles with the exclusive Motor Trend Certified designation.
Tags: EasyCare, Motor Trend, Paul Miller Auto Outlet
The nation’s 9,600 international nameplate franchises registered their fourth straight sales decline in June, but the association representing them said dealers are feeling confident about the second half of 2017.
Tags: American International Automobile Dealers Associat, new-vehicle sales, transaction prices
Special finance guru Greg Goebel will deliver the evening keynote address to a combined audience of Industry Summit and P&A Leadership Summit attendees.
Tags: DealerStrong, Greg Goebel, Industry Summit, special finance, Special Finance Conference
Transaction prices grew slower than usual for the month of June, rising 1.5% from a year ago to $34,442. Transaction prices for popular categories like full-size trucks and mid-size cars were flat, while the average for a compact SUV rose only 1%.
June 30, 2017 - Industry News
Mark Kaczynski, president of Nissan’s captive finance company since December 2011, was named vice president of administration and finance for the automaker’s Infiniti luxury brand. Replacing him as president of NMAC is Nissan Canada Finance’s Kevin Cullum.
Tags: auto finance, captive finance, Kevin Cullum, Mark Kaczynski, Nissan Motor Acceptance Corp.
The F&I product provider has acquired Folsom, Calif.-based Finance Concepts LLC, one of its largest producing agencies. Terms of the transaction were not disclosed.
Tags: Brent Griggs, Capital Z Partners, F&I product provider, F&I products, F&I training, Finance Concepts, general agents, Portfolio Group
Portfolio’s victory continues a remarkable run for the only reinsurance provider to earn a Dealers’ Choice Award in every year since the program began in 2008.
June 29, 2017 - Industry News
United Development Systems Inc. (UDS), a full-service income development company, is celebrating 35 years in the F&I performance arena.
Tags: F&I menu, F&I performance, F&I process, F&I technology, F&I training, general agents, Randy Crisorio, United Development Systems
A new report from Edmunds says bloated inventories and escalating incentives could signal a market correction for booming SUV sales.
Attorney and Mosaic Compliance Services cofounder Jim Ganther will deliver a featured presentation on Easy-to-Implement Processes and Controls at Compliance Summit in September.
Tags: CFPB, CMS, complaint management system, compliance, compliance management system, Compliance Summit, digital retailing, Industry Summit, James Ganther, online F&I
June 28, 2017 - Industry News
Aside from entitling dealers to benefits and incentives tied to an OEM-ordered renovation for up to 10 years after construction is completed, the new law prohibits manufacturers from creating and enforcing performance standards that are unfair and don’t account for local and regional differences.
Bankrate’s latest Car Affordability Survey finds Washington, D.C., is the most affordable city in which to buy a new car.
June 27, 2017 - Industry News
Despite record incentive spending, the auto industry is on pace to record its weakest first-half sales performance since 2014, according to the two firms. Days to turn remained at 70 through June 18, the highest level since July 2009.
Tags: days to turn, fleet sales, Forecast, incentive spending, new-vehicle sales, SAAR
FrogData’s rapid expansion continues with the hiring of Heiser Automotive Group and CDK Global executive Chris Dulla.
Auto lending executives now have access to Carfax reports via MeridianLink’s LoansPQ loan origination system.
June 26, 2017 - Industry News
SouthwestRe took home the Gold award in the Service Contract Reinsurance category in this year's Dealers’ Choice Awards.
The company’s newest vehicle service contract offering was designed to cover ‘essential’ new electronic components.
Tags: F&I manager, F&I products, In-Car Technology, vehicle service contract
The vehicle information site put June's SAAR at 16.3 million, which would mark the fourth month in a row the SAAR comes in below 17 million. It would also be the longest below-17-million streak since the six-month streak set at the end of February 2015.
The new ebook was developed to guide auto dealers through the process of turning managers and employees in various departments into one cohesive, productive and motivated team.
Tags: digital retailing, F&I office, online F&I, Pay Plans, showroom
Andrew Roke had held positions in operations and marketing product management before the F&I product provider appointed him product manager. He will be responsible for managing GWC’s suite of products while evaluating new opportunities for innovative enhancements.
Tags: F&I products, GWC Warranty Corporation, Used-Vehicle Service Contracts
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.
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