Finance Office

Useful Articles

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3 Ways to Improve Training in Your Store
When managers demonstrate discipline in scheduling, preparing for, and delivering training, sales and F&I professionals develop the skills they need to meet and exceed their goals.
5 Ways Dealer Tech Has Failed Us
Critical thinking, sales and F&I training, and customer satisfaction are just a few victims of the wave of technology that has completely engulfed many auto dealerships.
Leasing Automation Is the Answer
MUSA Auto Finance’s Richard Frunzi encourages dealers to automate the leasing process to their own benefit and that of their customers.
Fraud Alert: Dealer Loses $88K to ID Thief
A web-savvy sales manager made a sweet deal that went sour when the ‘buyer’ turned out to be a sophisticated online scammer.
How to Achieve Compliance Confidence
Got three minutes? Read this three-part briefing on the agencies, topics and resources you need to know to avoid compliance issues in 2018.
Find Technology That Supports Your Winning Strategy
Arm yourself with the three questions every dealer should ask of every technology provider.
Create the Best Reward System for Your Team
Rebuild your dealership's employee-recognition program by offering tangible, personally valuable rewards for a job well done.
Don’t Fire Your Best F&I Manager
Looking to thin your F&I herd? Advanced analytics prove there are better ways to judge performance than PVR alone.
Data Control and the DMS
Learn how Mike Esposito changed careers from engineering to auto retail and dealer software.
President Donald Trump promised sweeping regulatory reform on the campaign trail and could play a pivotal role in easing or eliminating some regulations affecting the auto finance industry. Photo by Gage Skidmore 5 Ways Trump Can Alter Finance
Auto dealer regulations face an uncertain future under the Trump presidency. Two California-based attorneys take a look at the road ahead for the CFPB, the FTC, and state regulators.

Finance Office News

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GWC Warranty Adds to Sales Management Team
The F&I product provider has added more than 100 years of combined sales and automotive experience with the addition of five new regional sales managers.
AutoGravity Names Jason Bonifay Vice President of Engineering
The fintech firm’s executive previously served as vice president of product development and engineering at CDK Global. He is now tasked with accelerating AutoGravity’s engineering efforts.
Trump Signs Repeal of CFPB’s Dealer Participation Guidance
The president’s signature comes exactly five years and two months after the bureau put the auto finance industry on notice with its controversial guidance on dealer rate markups.
Freed From CFPB Order, Toyota Financial to Raise Markup Caps
Toyota’s captive finance company announced it will raise its dealer markup caps following the early termination of consent orders issued by the Consumer Financial Protection Bureau and the Department of Justice.
Eric Johnson, partner at Hudson Cook LLP Webinar: Who Will Take Up the CFPB's Torch?
On June 6, Hudson Cook LLP attorney and partner Eric Johnson will join F&I and Showroom’s Gregory Arroyo for Part 1 of the magazine’s compliance webinar series. He will examine the likely candidates to take up the CFPB’s torch, and explain why F&I product pricing isn't out of the regulatory woods just yet.
TransUnion: Auto Finance Registers Lowest Growth Rate Since Q1 2012
The firm attributed the slowdown to improvements in oil states and tightening underwriting guidelines, which have also helped stabilize delinquency rates.
Votes Pour in for 2018 Dealers’ Choice Awards
DCA voting has begun in earnest as auto dealers nationwide recognize their favorite vendors, suppliers, and finance sources.
Asbury Maintains $1,500 PRU, Goes Digital in Q1
Asbury Automotive executives reported on a busy first quarter that included a 2% increase in F&I revenue and gross profit per vehicle and the full embrace of two ‘omnichannel’ ecommerce tools.
Group 1 Hits Record PRU in Q1
Group 1 Automotive’s 117 U.S. dealerships averaged $1,718 in F&I gross profit per retail unit, a 4.9% increase from a year ago and a new company record.
House Approves Resolution to Repeal CFPB's Dealer Participation Guidance
As expected, the House approved the resolution of disapproval of the CFPB's guidance on dealer participation. With the Senate having voted on the resolution last month, all that's left to rescind the controversial guidance is President Trump's signature.