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August 2018, F&I and Showroom - Feature

The CFPB’s Spirit Lives On

Acting CFPB Director Mick Mulvaney was a featured speaker at the National Association of Attorneys General’s 2018 Winter Meeting in Washington, D.C., this past February. During his address, he said the bureau would be looking to state regulators and attorneys general for leadership when it comes to enforcement.

By Tariq Kamal

Attorney Eric Johnson fields questions about the state of the CFPB, the now fully staffed FTC, and the aggressive stance of state attorneys general. He also offers a critical update on the Military Lending Act.

Tags: attorneys general, auto finance, CFPB, compliance, Consumer Financial Protection Bureau, Federal Trade Commission, FTC, Gregory Arroyo, interest rates, Mick Mulvaney, NADA, National Automobile Dealers Association, rate markup

December 2016, F&I and Showroom - Cover Story

Hold Your Head High

Incoming NADA Chairman Mark Scarpelli is a second-generation dealer. He serves as president of Raymond Chevrolet in Antioch, Ill., and co-owners, with his brother Ray Scarpelli, of Ray Chevrolet and Ray Chrysler Jeep Ram Dodge in nearby Fox Lake. Before joining the family business, Scarpelli attended Northwood University in Midland, Mich., and served as a district manager of sales for General Motors.

By Tariq Kamal

F&I talks shop, politics and pride with Mark Scarpelli, president of Raymond Chevrolet and Raymond Kia, and NADA’s 2017 chairman.

Tags: Anniversary, NADA, NADA Chairman, NADA Convention and Expo

November 2016, F&I and Showroom - WebXclusive

NADA Economist: Trump Needs to Clarify Economic Policy Goals

By Steven Szakaly

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.

Tags: CFPB, Donald Trump, NADA, Steven Szakaly

October 2016, F&I and Showroom - Cover Story

Examining the Bricks-to-Clicks Push

Moderated by F&I Administration’s Kumar Kathinokkula, the P&A Leadership Summit’s ‘Presenting F&I Products Online” panel discussion featured (l-r) Matt Nowicki of IAS, The Impact Group’s Mark Thorpe, Cox Automotive’s Brett Pomerantz, Dan Lievrouw of American Guardian, F&I Director Justin Gasman.

By Gregory Arroyo

Tech vendors believe the industry needs to respond to customer dissatisfaction with the F&I process, but not everyone believes moving the process online is the answer.

Tags: Industry Summit, NADA, online F&I, technology

May 2016, F&I and Showroom - Feature

6 Ways to Hire for Success

Courtesy of iStock. 

By Scott Bergeron

Hiring to get the body count up can be a recipe for disaster. Personnel expert explains why dealers and managers need to hire character first and credentials second.

Tags: hiring, management, NADA, Pay Plans, training

May 2016, F&I and Showroom - Feature

Cautious Optimism

The Vehicle Finance Conference's CEO panel featured (l-r) Wells Fargo's Dawn Martin Harp, U.S. Bank's John Hyatt, American Honda Finance Corp.'s David Paul, and Westlake Financial Services' Ian Anderson.

By Jim Henry

Dealers and lender execs expressed optimism about the year ahead at the industry’s annual get-together, but they admit some trends have them concerned.

Tags: AFSA, NADA, remarketing, Stretching Loan Terms, used vehicles

March 2016, F&I and Showroom - Cover Story

Mountain Man

NADA Chairman Jeff Carlson says preserving vehicle affordability for car buyers will be his top priority in 2016.

By Tariq Kamal

Meet Jeff Carlson, president of Colorado’s Glenwood Springs Ford, Glenwood Springs Subaru and Summit Ford, and the NADA’s 2016 chairman.

Tags: NADA, NADA Chairman, NADA Convention and Expo

March 2016, F&I and Showroom - Feature

How Dare You!

By Dave Robertson

Issuing adverse action notices for every deal can result in righteous indignation from prime-credit customers. AFIP chief offers a primer on when to send notices and when to keep them to yourself.

Tags: Adverse Action Notice, AFIP, Credit Score, FICO, Installment Sales Agreements, NADA

January 2016, F&I and Showroom - Feature

Your Year of Self-Discovery

By Dave Robertson

The AFIP’s executive director offers a few ways F&I professionals can improve their performance and compliance acumen in 2016

Tags: AFIP, certification, NADA, National Automobile Dealers Association

December 2015, F&I and Showroom - Feature

Out of the Box

Impact Group's Mark Thorpe says moving F&I product info online might hurt, not help, F&I product sales. 

By Brittany-Marie Swanson

Panelists and presenters at Industry Summit 2015 tackled online automotive retailing and what it means to move F&I out of the box and into the Digital Age.

Tags: Cox Automotive, digital, F&I Express, MakeMyDeal, MaximTrak, NADA, Protective Asset Protection Division, RouteOne

November 2015, F&I and Showroom - Feature

Defusing the Biweekly Scare

Executives with Smart Payment Plan and US Equity Advantage field questions posed by F&I and Showroom’s Gregory Arroyo.

By Tariq Kamal

The editor and two segment leaders met at Industry Summit to debunk the myths surrounding biweekly payments and uncover the real value of the product.

Tags: biweekly payment, Industry Summit, NADA, Regulations

August 2015, F&I and Showroom - WebXclusive

Solving the CFPB Problem

By Gregory Arroyo

The man who has led the NADA’s regulatory advocacy efforts since 2006 believes the tide may be turning in the CFPB’s attack on dealer participation.

Tags: Andy Koblenz, CFPB, Consumer Financial Protection Bureau, discrimination, Honda Financial Services, NADA, National Automobile Dealers Association, rate markup

August 2015, F&I and Showroom - WebXclusive

The Great Defender

NADA Chairman Bill Fox’s ascendance to dealership and association leadership was largely happenstance, he says.

By Tariq Kamal

New York dealer Bill Fox brings experience, passion, humility and unwavering support for the franchised dealer model to his role as 2015 NADA chairman.

Tags: Bill Fox, NADA, National Automobile Dealers Association, New York

May 2015, F&I and Showroom - Feature

Business as Usual

By Tariq Kamal

A Q&A with Warren Buffett and Larry Van Tuyl headlined the 2015 NADA/J.D. Power Automotive Forum, where the two executives discussed the direction of the nation’s fourth-largest dealer group post-acquisition.

Tags: Acquisition, Cecil Van Tuyl, Cox Automotive, Facebook, JD Power, NADA, National Automobile Dealers Association, New York, Sandy Schwartz, Van Tuyl Auto Group, Warren Buffet

March 2015, F&I and Showroom - Cover Story

Sales at Your Fingertips

By Brittany-Marie Swanson

The explosion in smartphone usage among car shoppers put phone leads ahead of Internet leads at the close of 2014, a trend reflected in the deluge of mobile-ready offerings lining the aisles at NADA 2015.

Tags: apple, Customer Loyalty, Dealertrack, Dent Wizard, DMEautomotive, Edmunds, Edmunds.com, iPad, Mobile Applications, mobile solution, NADA, NADA Convention and Expo, smartphones, VinSolutions

May 2014, F&I and Showroom - Feature

No Customer, No Sale

By George Angus

F&I managers can’t sell to customers they don’t see. The father of the F&I menu provides an action plan for convincing management that every customer must visit the F&I office at the time of sale.

Tags: F&I office, F&I products, Finance, NADA

January 2014, F&I and Showroom - Feature

Show Planner

By David Keller, CPA, CFE

If you’re heading out to this year’s NADA Convention and Expo, make sure you take the following six steps before you pull the trigger on a new software tool for the dealership.

Tags: Dealer Software, NADA, NADA Convention & Expo, National Automobile Dealers Association

November 2013, F&I and Showroom - Feature

Sizing Up the CFPB’s Threat

The NADA’s David Westcott says a move to a flat-fee system would hurt consumers, not just dealers.

By Gregory Arroyo

The F&I Conference’s compliance panel offered up more questions than answers, but participants made clear the industry’s newest regulator has plenty of tools at its disposal.

Tags: CFPB, compliance, Consumer Financial Protection Bureau, David Westcott, discrimination, Dodd-Frank Act, NADA, National Automobile Dealers Association, Terry O'Loughlin

January 2013, F&I and Showroom - Feature

Westward Expansion

By Paul Chavez

As the industry recovers, California continues to serve as the bellwether state for car sales nationwide.

Tags: Billy Rinker, Brian Maas, California, California New Car Dealers Association, CNCDA, dealer, economy, F&I, NADA, Paul Chavez, Paul Taylor, sales, Volkswagen Santa Monica

July 2012, F&I and Showroom - Feature

A Costly Decision

By Gil Van Over

The Federal Trade Commission has turned a helpful rule into another regulatory hurdle for dealers. The magazine’s resident compliance guru weighs in.

Tags: FTC, Gil Van Over, NADA

March 2012, F&I and Showroom - Feature

Vegas Musings

By Tom Hudson

The magazine’s resident legal wiz reports on what he saw and heard at the industry’s annual get-together last month, including reports of dealer investigations being conducted by the Federal Trade Commission.

Tags: CFPB, Consumer Financial Protection Bureau, Federal Trade Commission, NADA, NADA Convention and Expo, spot delivery

March 2012, F&I and Showroom - Cover Story

Updating F&I

By Gregory Arroyo

Connecting F&I to the digital world was the talk at the annual dealer and lender conventions last month, and opinions varied on what the F&I office of the future will look like.

Tags: Bank of America, Chase, Dealertrack, Generation Y, Group 1 Automotive, iPad, iPad Business Applications, J.D. Power and Associates, Mobile Applications, Mobile Website, NADA, NADA Convention and Expo, Reynolds & Reynolds, social media, SOCIALDEALER, Wells Fargo

February 2012, F&I and Showroom - Feature

Meet the Chairman

By Jennifer Washington

William P. Underriner is NADA’s 2012 chairman, and he’s looking forward to a good year for dealers.

Tags: NADA

November 2010, F&I and Showroom - Feature

Clicking Into a New Reality

Andrew Koblenz (right), general counsel for the NADA, introduces keynote speaker Stephen Wade, the association’s 2011 chairman.

By Gregory Arroyo

Is it time for change? All three keynoters at the magazine’s annual conference said the industry has no choice, and each offered his views on how it can happen.

Tags: AutoNation, F&I Conference & Expo, JM&A Group, NADA

May 2010, F&I and Showroom - Feature

Match Play

Chicago’s Mike Anderson Chevrolet is one of the first dealers to use RouteOne’s new WebApplyOne. The tool allows the dealership’s prospective customers to fill out a credit application directly from its Website. Once the application is submitted, the lead is then directed to the outlet’s CRM system, F&I department or Internet sales team.

By Gregory Arroyo

Its competitors might be on the move, but so is RouteOne. F&I and Showroom goes one-on-one with the company’s chief executive to find out where it’s headed.

Tags: Credit, NADA, nonprime, RouteOne, subprime

April 2010, F&I and Showroom - Feature

What’s the New Normal?

By Gregory Arroyo

With lenders in a better mood these days, could we see a return to normalcy? Well, not so fast. Consumers still need some TLC.

Tags: Auto ABS, Editorial Page, inventory, NADA

April 2010, F&I and Showroom - Feature

Technology Takes Center Stage

Speaking on legislation that could enact the Consumer Financial Protection Agency, AFSA's Bill Himpler said the new agency might be off the table, but warned that regulators "still want a pound of flesh from the bank industry." As if on cue, Sen. Christopher Dodd (D-Conn.) who is championing finance reform legislation, unveiled a new bill in March that would create a consumer division inside the Federal Reserve, which AFSA opposes.

By Gregory Arroyo

Dealers at the industry's annual get-together said the Internet will set the terms for the market's recovery.

Tags: AFSA, credit unions, dealer, F&I products, Internet, inventory, NADA, parts and service, social media, technology

January 2010, F&I and Showroom - Cover Story

Rebuilding Floorplan Financing

Aside from floorplanning, access to commercial real-estate loans is also a major need among dealers. It’s one of the reasons why the NADA is working with the SBA to expand its 504 Loan program, which is designed for small businesses requiring “brick and mortar” financing.

By Gregory Arroyo

Despite signs of retail financing beginning to loosen up, dealer financing remains a major concern. It’s one of the reasons why the NADA is stepping up efforts to restart the market.

Tags: Chrysler, floorplan financing, General Motors, NADA, Small Business Administration, TALF

December 2009, F&I and Showroom - Feature

Legislative Battle Far From Over

By Michael Benoit

One amendment down, many more to go as automotive dealers face potentially disruptive new regulations.

Tags: Consumer Financial Protection Bureau, Legal, Michael Benoit, NADA

May 2009, F&I and Showroom - Feature

It’s All About The Deal

By Gregory Arroyo

You know, the more things change, the more they stay the same. As much as I wish I could claim to be the first to apply that phrase to the F&I office, I can’t. The credit must go to Julie Horns, an F&I pro I talked to for my technology story.

Tags: Editorial Page, inventory, lead generation, NADA

May 2009, F&I and Showroom - Cover Story

Downturn Opens Door for Technology

By Gregory Arroyo

Despite the prospect of losing dealer customers, software makers see a silver lining in today’s economic downturn. In fact, some providers believe the recession will be the vehicle to the industry’s digital future.

Tags: ADP Dealer Services, Chrysler Financial Services, dealership management system, Dealertrack, inventory, NADA, RouteOne, technology

April 2009, F&I and Showroom - Feature

The Lines Are Blurring

By Gregory Arroyo

I’m really going to need a therapist after this turnaround. Like everyone, I’m looking for that silver lining in every new market report or economic news, but nothing good seems to stick these days.

Tags: American Finance & Automotive Services, Editorial Page, Experian, NADA, TransUnion

March 2009, F&I and Showroom - Feature

Say Hello to Your New Customer

By Gregory Arroyo

I asked the question several times while walking the show floor at the National Automobile Dealers Association’s convention in New Orleans. But it was obvious no one was ready to put their finger on when this economic crisis will turn the corner.

Tags: AFSA, Editorial Page, Federal Trade Commission, NADA

March 2009, F&I and Showroom - Cover Story

Future Hinges on Credit Availability

By Gregory Arroyo

Dealers and industry executives address questions about the future of the auto industry and the U.S. economy at the 2009 NADA Convention and Expo.

Tags: banks, BB&T, Chase, Chrysler Financial Services, CUDL, dealer, Dealertrack, GMAC Financial Services, JP Morgan, NADA, PNC, SunTrust

March 2009, F&I and Showroom - Feature

Staying in Control

By Kristen Force

There are reasons why The Suburban Collection, the 14th largest dealer group in the nation, has achieved 60 years in the business. Learn how the dealer group has maintained its success.

Tags: compliance, dealer, DOY Winners, Florida, JP Morgan Chase, Michigan, NADA, saturn, Volvo

January 2009, F&I and Showroom - Feature

Finding the Right Solution

By Gregory Arroyo

The Red Flag Rule will definitely be a hot topic at this year's National Automobile Dealers Association (NADA) convention. Here are a few questions to help you find the right solution.

Tags: identity theft, NADA, Red Flags Rule

January 2009, F&I and Showroom - Feature

Shifting Into Survival Mode

By Gregory Arroyo

So it’s official. We’re in a recession and have been since December 2007, according to the National Bureau of Economic Research (NBER).

Tags: CUDL, Editorial Page, F&I Conference & Expo, NADA, recession

November 2008, F&I and Showroom - Feature

Our New Reality

By Gregory Arroyo

I was asked at the magazine’s September F&I Conference and Expo when I thought this mess we’re in would turn around. My response was, “Ask me again this time next year.”

Tags: AmeriCredit, Chrysler Financial Services, CNW, Editorial Page, Experian, F&I Conference & Expo, Ford Credit, GMAC Financial Services, NADA, Nomis Solutions

September 2008, F&I and Showroom - Feature

Be Careful What You Ask For

By Gregory Arroyo

Nothing could describe the month of July better than a headline I read in CNW Market Research’s July 16 newsletter. It read: “Time to Panic: Industry Pushes Into Auto DefCon4.” I wonder what the headline would have read if the newsletter was released nine days later.

Tags: Chrysler Financial Services, CNW, Editorial Page, GMAC Financial Services, HSBC, NADA, NAF Association

August 2008, F&I and Showroom - Feature

Reality Check

By Gregory Arroyo

Reality checks are always difficult to swallow. You want to hear the truth, but at the same time you really don’t. That’s what I wrestled with when one of my readers reminded me that F&I is really a reactionary department.

Tags: Editorial Page, loan-to-value ratio, NADA

October 2007, F&I and Showroom - Feature

Dealing With Subprime’s Messy Image

By Gregory Arroyo

Is it me or is just about everyone looking for that one kink in the armor of our business? Yes, blame the subprime-mortgage market all you want, but the reality is that it’s going to be guilt by association from here on out. What’s important now is that we don’t prove those “Chicken Littles” right.

Tags: AFIP, AmeriCredit, Editorial Page, Federal Reserve, NADA, NAF Association, subprime, Triad Financial

September 2007, F&I and Showroom - Feature

Whose Data Is It Anyway?

By Gregory Arroyo

Much has been made of the ongoing data-access debate. My question is how it impacts F&I departments. Several readers have said there are other more critical issues to be concerned about than whether the newest software tool can communicate with their DMS. I beg to differ.

Tags: Editorial Page, NADA, Reynolds & Reynolds

April 2007, F&I and Showroom - Feature

Stop the Presses, Seriously!

By Gregory Arroyo

Approximately 26,500 attendees of the National Automobile Dealers Association (NADA)’s annual convention saw the latest and greatest, but it seemed as though the big news came out in the weeks following.

Tags: Editorial Page, NADA

March 2007, F&I and Showroom - Feature

Roadwork Ahead; Expect Delays

By Gregory Arroyo

With the National Automobile Dealers Association (NADA) Convention only three days away (at press time), it has been a bit of a scramble to get the March issue out the door. Happily, I can say we have one heck of an issue this month, with technology taking center stage.

Tags: Asbury Automotive, Editorial Page, F&I Conference & Expo, Honda, NADA

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Blog

So Here's the Deal

Ronald J. Reahard
Help! My Dealership Is Packing Payments

By Ronald J. Reahard
Top trainer comes to the rescue of an F&I manager who fears an antiquated, discredited, and deceptive sales tactic has taken root at his store.

Sharing the Profit

By Ronald J. Reahard
After losing members of his sales team, a dealer asks the magazine’s resident F&I expert for his take on paying salespeople on F&I income.

Menus Don’t Work Miracles

By Ronald J. Reahard

Avoiding the AAA Objection

By Ronald J. Reahard

Done Deal

Gregory Arroyo
Red Flags Alert

By Gregory Arroyo
The editor believes recent regulatory activity should serve as a warning to dealers who haven’t dusted off their Red Flags compliance programs in the years since the rule took effect.

GAP Suffers Another Setback

By Gregory Arroyo
The editor reveals the truth behind an NPR report critical of the industry’s efforts to undo the Military Lending Act guidance that put the brakes on GAP sales.

Car Buyers Need F&I

By Gregory Arroyo

Protecting F&I’s Future

By Gregory Arroyo

Mad Marv

Marv Eleazer
Readers Are Leaders

By Marv Eleazer
Do you know the minimum amount of tread depth a tire must have for a tire-and-wheel claim to be approved? If you don’t, His Madness has a message for you.

Comply Like Nobody’s Watching

By Marv Eleazer
His Madness wants F&I pros to commit to ethical dealings with customers and finance sources because it’s the right thing to do, not just for the very real threat of reprisal.

'We Never Buy This Stuff'

By Marv Eleazer

Stop Painting Dealers With a Broad Brush

By Marv Eleazer

On the Point

Jim Ziegler
Bound to Fail

By Jim Ziegler
Da Man returns with a message to vehicle manufacturers jumping into the subscription waters: It ain’t gonna happen.

Sharpen Your Survival Skills

By Jim Ziegler
‘Da Man’ has a plan you can use to survive the collapse of the car business and remain profitable through the dealer apocalypse.

Sales Rock Stars Still Exist

By Jim Ziegler

The New Stooges

By Jim Ziegler