Finance Office

Useful Articles

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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.
Photo: IStockPhoto.com/Brauns CFPB Still Needs Schooling on Credit Sales
The Consumer Financial Protection Bureau is taking baby steps toward financial literacy, but it remains far from the head of the class.
Minimize Your Loaner Losses
Accounting expert offers a three-step plan for recovering loss of use and value on loaner car damage claims.
Hudson: My Job Application to Mr. Trump
In response to rumors that President-elect Donald Trump is preparing to oust the Consumer Financial Protection Bureau's director, the magazine’s legal eagle says he’s the right man for the job.
NADA Economist: Trump Needs to Clarify Economic Policy Goals
NADA Chief Economist Steven Szakaly says a clear set of economic policy goals delivered before the New Year would go a long way to ensuring that any immediate uncertainties are smoothed over.
Magazine Offers Details on Compliance Summit Program
Scheduled for Aug. 29-30, Compliance Summit is designed to deliver a crash course in federal regulations and enforcement action to help dealers, agents and industry execs build sustainable sales and F&I processes without sacrificing productivity and profitability.

Finance Office News

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RouteOne Processes Industry's First Remotely Executed Finance Contract
RouteOne moved the industry closer to the fully online transaction by executing the first remotely captured, electronic customer signature on an indirect finance contract. The executed contract was booked with Toyota Financial Services.
Fed Reserve Raises Interest Rates
One industry analyst said the quarter-point hike will result in new-vehicle sales dropping below 17 million units in 2018, noting that the Fed Reserve’s previous three increases are responsible for fewer new leases and this year’s shift from new to used.
TransUnion: Subprime Pullback to Continue in 2018
Replacement demand from hurricanes Harvey and Irma should provide a temporary boost in new-vehicle demand to open 2018, but TransUnion officials said consumers will shift toward the used-vehicle market as finance sources continue to tighten credit underwriting standards.
Spireon Launches GoldStar Enterprise
Spireon has added new monitoring and workflow features to its GoldStar GPS solution for large, multi-rooftop dealers and auto finance sources.
ActivEngage Completes 700Credit Integration
ActivEngage announced the addition of a 700Credit-powered financial qualification feature to its dealer-focused omnichannel communications solution.
Ally Financial Names Successor to Retiring CFO Chris Halmy
With current CFO Chris Halmy set to retire on March 1, 2018, Ally Financial today announced that Jenn LaClair is joining the company as CFO designate, with the intent that she will be appointed to succeed Ally's retiring CFO.
Toyota Financial Announces Executive Leadership Appointments
The captive named Scott Cooks group vice president and chief risk officer and Cindy Wang group vice president of treasury.
Cox Automotive: Dealers Optimistic About Q1 2018
The fourth-quarter reading of the Cox Automotive Dealer Sentiment Index shows dealers are optimistic about the next three months. Concerns about price pressure and showroom traffic persist.
Subprime Originations Hit Record Low in Q3
Subprime financing fell to its lowest point since 2012, while prime grabbed the lion’s share of the auto finance space in the third quarter. Even the used-vehicle market has gone prime, with buyers outside of prime accounting for just a third of the market.
Three FinCos Stung for $300K by NYDCA
Credit Acceptance, Clover Commercial and Westlake Financial have agreed to pay more than $300,000 to settle charges of predatory lending leveled by New York’s Department of Consumer Affairs on behalf of 50 Brooklyn car buyers.