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November 2017, F&I and Showroom - Feature

F&I Pacesetters: Gerald Jones Auto Group

By Gregory Arroyo

Meet the two operations that were also in the running for the American Financial & Automotive Services Inc.-sponsored F&I Dealer of the Year.

Tags: American Financial & Automotive Services, Andy Jones, Arden Hetland, compliance, F&I department, F&I products, F&I training, Gerald Jones Auto Group

September 2017, F&I and Showroom - Feature

Examining NMAC v. Superior Automotive Group

By Christian Scali and Jade Jurdi

Legal eagles deconstruct the case that changed how courts handle contract disputes between dealers and their floorplan lenders.

Tags: Floorplan Financing, lawsuits, Nissan Motor Acceptance Corp., Superior Automotive Group

September 2017, F&I and Showroom - Feature

F&I’s Compliance Driver

By Gil Van Over

An electronic menu can do more than drive the F&I process. Compliance expert offers standards and practices you can use to unlock an emenu’s true potential.

Tags: compliance, desking, digital retailing, F&I manager, F&I process, online F&I

September 2017, F&I and Showroom - Cover Story

Industry Reacts to GM's Disclosure Policy

By Gregory Arroyo

General Motors dealers who sell non-GM service contracts, parts and accessories must now disclose to their customers that the products are not backed by the automaker. Dealer trade groups believe the OEM’s stated goal of enhanced ‘safety and transparency’ is not the real reason for the new policy.

Tags: aftermarket accessories, compliance, customer disclosures, dealers, F&I managers, General Motors, parts and service, vehicle service contracts

August 2017, F&I and Showroom - Feature

Setting Up the Edesk

By Gil Van Over

Continuing with his noble effort to define the edealership, the magazine’s resident compliance pro explains why the desking process is ripe for digitization.

Tags: auto finance, compliance, desking, digital retailing, F&I manager, online F&I

August 2017, F&I and Showroom - Feature

Examining the CFPB’s Arbitration Rule

By Thomas B. Hudson, Esq.

Legal experts break down the Consumer Financial Protection Bureau’s new arbitration rule and how it could affect your dealership.

Tags: arbitration agreements, auto finance, CFPB, compliance, F&I products, Richard Cordray, vehicle service contracts

August 2017, F&I and Showroom - Feature

6 Legal Challenges for California Dealers

By Alejandro David Szwarcsztejn

California auto dealers and their employees are on a litigation collision course. Attorney lists six problem areas to discuss with counsel.

Tags: California, California New Car Dealers Association, compliance, Fair Labor Standards Act, labor laws

July 2017, F&I and Showroom - Feature

A Wolf In Sheep’s Clothing

By Thomas B. Hudson, Esq.

The magazine’s legal wiz reminds dealers and F&I pros why it’s wise to assume every customer knows the bad compliance practices you should have outlawed years ago.

Tags: compliance, F&I manager, GAP, payment packing, Regulations

July 2017, F&I and Showroom - WebXclusive

FIDOY Nomination Period Extended to July 21

By Editorial Staff

The magazine has extended the nomination period for its 2017 F&I Dealer of the Year contest to July 21. Dealership employees, general agents, vendors, finance sources, and F&I product providers are encouraged to nominate their stores and dealer clients.

Tags: American Financial & Automotive Services, DOY Pacesetters, DOY Winners, F&I office

June 2017, F&I and Showroom - Feature

Defining the Edealership

By Gil Van Over

Evolving times require evolving minds. Compliance expert offers a case study to help conceptualize the concept of converting brick-and-mortar dealerships into internet sales hubs.

Tags: digital retailing, econtracting, edealership

May 2017, Auto Dealer Today - WebXclusive

OEM Sales Quotas and the Dependable Dodge Decision

By Christian Scali and Monica Baumann

The owners of Dependable Dodge scored a judicial victory that further erodes manufacturers’ rights to ax franchises that don’t meet their sales quotas.

Tags: Dependable Dodge, disenfranchisement, Franchise Laws

May 2017, F&I and Showroom - WebXclusive

OEM Sales Quotas and the Dependable Dodge Decision

By Christian Scali and Monica Baumann

The owners of Dependable Dodge scored a judicial victory that further erodes manufacturers’ rights to ax franchises that don’t meet their sales quotas.

Tags: Dependable Dodge, disenfranchisement, Franchise Laws

May 2017, F&I and Showroom - Feature

Playing With Fire

©iStockphoto.com/egdigital 

By Christian Scali and Monica Baumann

Two attorneys issue a warning about a new sales trick circulating through the industry. Their advice: If it’s too good to be true, it probably is.

Tags: compliance, Consumer Financial Protection Bureau, digital marketing, digital retailing, Eric Schneiderman, fraud, FTC Act, Internet Leads, NY Attorney General, payment packing, sales, UDAP

May 2017, F&I and Showroom - Feature

Credit App Fraud Not a Victimless Crime

By Gil Van Over

Falsifying any of the five key credit determinants on a credit application generates a long list of potential victims inside and outside the dealership.

Tags: auto finance, compliance, Credit Applications, F&I process

April 2017, F&I and Showroom - Feature

Navigating the 'New' Used Car Buyer’s Guide

By Gil Van Over

The magazine’s compliance guru breaks down the Federal Trade Commission’s final revisions to the Used Car Rule. His message to dealers is don’t overthink it.

Tags: compliance, CPO, Federal Trade Commission, service contract, Used Car Buyer's Guide, Used Car Rule, warranty

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

December 2016, F&I and Showroom - WebXclusive

A Final Message From the Chairman

By Jeff Carlson

Jeff Carlson reflects on his term as the NADA’s 2016 chairman, highlighting the association’s victories as well as the challenges ahead.

Tags: CFPB, Jeff Carlson, NADA Chairman, NADA Convention and Expo

November 2016, F&I and Showroom - Feature

Formalized and Documented

By Gil Van Over

The magazine's compliance pro believes the FTC may soon take a page out of the CFPB's playbook when it comes to regulating dealers. He explains how dealers can get prepared.

Tags: CFPB, compliance, F&I, FTC

August 2016, F&I and Showroom - Feature

Protecting Your Dealership Through Proper Screening

By Eric Judson

A New York dealer is in hot water after hiring an F&I professional four months after he was indicted for defrauding customers at another dealership.

Tags: Crime, Dealership, Employee Screening, F&I

July 2016, F&I and Showroom - Feature

Understanding the New Overtime Pay Rule

Courtesy of iStock. 

By Dave Druzynski

Human resources expert breaks down the Labor Department’s new overtime pay rules and what they mean to dealers. He says communication with employees will be key in the months ahead.

Tags: Law, management, Overtime, Pay Plans

July 2016, F&I and Showroom - Feature

Asset Protection

Courtesy of iStock. 

By David Nathanson

Retail expert says the more dealers carve out their place in the Digital Age, the more their proprietary and customer data becomes a legal and financial liability to their dealership.

Tags: Customer Privacy, Data, Dealership Systems, technology

June 2016, F&I and Showroom - Feature

Vital Signs

By Tom Hudson

The magazine’s resident legal wiz explains how a simple deal jacket review can offer a compelling case for a full compliance checkup.

Tags: compliance, Deal Jacket Review, Legal

June 2016, F&I and Showroom - Feature

Hanging in the Balance

With moderator Robert Harkins looking on, Mosaic Compliance Services’ Jim Ganther offered his take on what the November elections could mean to the men and women manning the F&I office. If a Democrat is elected president, he said, the Consumer Financial Protection Bureau’s fair lending crackdown could intensify.

By Gregory Arroyo

The compliance gurus at F&I Think Tank agreed that a lot is riding on the outcome of November’s presidential elections — including the fate of the F&I department.

Tags: Adverse Action Notice, CFPB, compliance, Dealer Summit, F&I products

June 2016, F&I and Showroom - Cover Story

Operation Overhaul

Pictured is Superstition Springs’ Dealer Principal Alvin Heggs and Finance Director Ben Saxton. When Heggs closed the deal on the Mesa, Ariz., dealership three years ago, net F&I profit was around $240,000 per month, and the F&I team averaged $600 per copy on 135 units sold per month. Since then, F&I net profit has skyrocketed to $510,000 a month, while the F&I team now averages $2,700 per copy on 313 units sold per month.

By Brittany-Marie Swanson

Alvin Heggs took a leap of faith when he bought a fledgling dealership in Mesa, Ariz., three years ago. But his gamble on Superstition Springs Chrysler Jeep Dodge Ram paid off — in spades.

Tags: Dealership, F&I, Internet Leads, Operations

April 2016, F&I and Showroom - Cover Story

A New Direction

Pictured are Principle Auto CEO Abigail Kampmann and COO Mark Smith. Nine months after cofounding their four-store dealer group, they took a chance on a new auto-loan equity mining tool and marketing platform called VehicleXchange. It was developed by Dallas-based Pearl Technology Holdings LLC. At BMW of San Antonio, one of the group’s three Texas stores, sales grew 36% in the same year the dealership installed Pearl’s solution. 

By Eric Gandarilla

Principle Auto’s Mark Smith found success after abandoning some of his group’s tried-and-true sales strategies. Now he’s looking to take that change even further.

Tags: Equity Mining, Pearl Technology, Principle Auto, ShowroomXpress, technology, VehicleXchange

February 2016, F&I and Showroom - Feature

The CFPB's Misguided Crusade

By Dave Robertson

AFIP's executive director has some choice words for President Obama, Sen. Warren and the 'smartest guys in the room.'

Tags: Consumer Financial Protection Bureau, Dodd-Frank Act, President Obama

February 2016, F&I and Showroom - Feature

Measuring Up

By Ryan Fischer

AutoNation's $1,500 per-copy claim was a great achievement, but one industry vet warns F&I pros against using it as a benchmark for F&I success.

Tags: AutoNation, goals, product penetration, PVR

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

'Tis the Season to Count Our Blessings

By Dave Robertson

The AFIP’s executive director gives thanks to the regulators and the regulations they enforce. He explains why dealers should do the same.

Tags: AFIP, CFPB, FTC

December 2015, F&I and Showroom - Feature

GAP Is GAP, Right?

An important consideration when selecting a GAP waiver is how the contract terminates at the time of claim. Administrators have two choices: They can cancel the contract or earn the contract at the time of claim. 

By George Spatt

Too many dealers, F&I managers, agents and even providers think of GAP as a one-size-fits-all product. Product expert explains why that’s not the case.

Tags: ACV, GAP, Settlement

November 2015, F&I and Showroom - Cover Story

Fraud Alert

In January 2015, a man using a fake name purchased at least two vehicles online from Louisiana dealers with the intention of shipping them overseas.

By Brittany-Marie Swanson

Mansfield Auto World employees were stunned when a seemingly normal online transaction nearly turned into an international crime. Authorities say the dealership was the victim of a troubling new trend in auto theft.

Tags: Credit Cards, fraud, identity theft, Internet Leads, Internet Shopper, Red Flags Rule

November 2015, F&I and Showroom - Feature

R.I.P. Payment Packing

By David Robertson

The AFIP’s executive director says it’s time to say goodbye and good riddance to a relic of F&I’s past. He explains why ‘a little wiggle room’ hurts new-car gross and puts sales at risk.

Tags: AFIP, Association of Finance and Insurance Professionals, CFPB, Consumer Financial Protection Bureau, F&I manager, F&I products, interest rates, payment packing

November 2015, F&I and Showroom - Feature

Pressure Cooker

The NADA’s Andrew Koblenz detailed the industry’s more than four-year odyssey to protect dealer-assisted financing. He said although the CFPB is no longer bent on eliminating dealer participation, the industry’s campaign against regulatory overreach isn’t over.

By Gregory Arroyo

Speakers at Industry Summit 2015 say regulatory pressures are forcing the industry to confront deep-rooted issues that have plagued showrooms and F&I offices.

Tags: compliance, F&I, Industry Summit

September 2015, F&I and Showroom - Cover Story

Setting the Pace

By Editorial Staff

Meet the five finalist for the 2015 F&I Dealer of the Year award, the winner of which was announced earlier this month at the magazine's annual conference.

Tags: DOY Pacesetters, F&I Dealer of the Year, F&I Pacesetters, F&I products, Industry Summit

August 2015, F&I and Showroom - Feature

Price Point

By Brittany-Marie Swanson

The New York attorney general’s crackdown on an F&I product provider and the dealerships that sold its credit repair services comes at a time when federal regulators are expected to tighten the screws on add-on sales.

Tags: Attorney General, CFPB, Consumer Financial Protection Bureau, credit repair, Eric Schneiderman, F&I products, New York, Paragon Honda

July 2015, F&I and Showroom - Feature

Supreme Court Upholds Disparate Impact

By Brittany-Marie Swanson

The CFPB won’t lose a key weapon in its auto-lending crackdown, but the court’s 5-4 decision does open the door to challenges in auto finance.

Tags: AFSA, American Financial Services Association, CFPB, Consumer Financial Protection Bureau, Disparate Impact, Supreme Court

July 2015, F&I and Showroom - Feature

What’s the Price?

By Eric Judson

A business manager from Buffalo, N.Y., offers his take on U.S. Bank’s announcement that it will monitor F&I product pricing.

Tags: CFPB, Consumer Financial Protection Bureau, Dealer Financial Services, F&I pricing, F&I products, MILES program, U.S. Bank

June 2015, F&I and Showroom - Feature

Too Much Information

By Dave Druzynski

If you are Googling prospective employees or checking out their social media profiles, you could be running afoul of anti-discrimination laws.

Tags: employment, Human Resources, social media

May 2015, F&I and Showroom - Feature

Take a S.W.O.T. at Success

By David Robertson

Given the many changes taking place in the F&I field, the AFIP’s executive director says a little self-inspection is in order if you hope to win the F&I trifecta.

Tags: AFIP, Consumer Financial Protection Bureau, David Robertson, Federal Trade Commission, rate markup, Regulations

January 2015, F&I and Showroom - Feature

‘Best’ Is Not Always Best

By David Robertson

AFIP’s executive director reminds us why the word “best” should be avoided when discussing financing or lease rates with customers.

Tags: AFIP, compliance, Credit Scores, David Robertson, interest rates

January 2015, F&I and Showroom - Feature

Changing the F&I Experience

By Gregory Arroyo

Larry Dorfman founded APCO/EasyCare on the premise that car buyers are his true customers. Now he and his team are riding shotgun on Sonic Automotive’s drive toward a new customer experience.

Tags: Consumer Financial Protection Bureau, EasyCare, F&I menus, hybrid manager, Internet Shopper, Larry Dorfman, Sonic Automotive

December 2014, F&I and Showroom - Feature

Mama’s Menu

By Michael Benoit

The magazine’s legal wiz says regulations don’t offer much guidance when it comes to F&I menu usage. But he says there’s an unofficial rule F&I managers should consider.

Tags: Federal Trade Commission, Hudson Cook LLP, Michael Benoit, Regulations

November 2014, F&I and Showroom - Feature

What’s on the Menu?

By Brittany-Marie Swanson

The Mad Marv-moderated compliance panel at Industry Summit 2014 addressed supposed menu-governing regulations, the hybrid manager, tablet menus and the CFPB.

Tags: AFIP, compliance, Damon Wiener, David Robertson, F&I menus, Hudson Cook LLP, Industry Summit, James Ganther, Mad Marv, Matt Nowicki, mobile menu, Mosaic, Tom Hudson

November 2014, F&I and Showroom - Feature

Colorado F&I Manager Named 2014 F&Idol Winner

By Brittany-Marie Swanson

Justin Gasman is having a banner year. Coming off his F&I department’s best month ever, the 11-year veteran was named the 2014 winner of the IAS-sponsored F&Idol award.

Tags: F&I department, F&Idol, Industry Summit

November 2014, F&I and Showroom - Cover Story

The Vaden Way

Pictured with Jane Vaden Thacher are CEO West Beaver and Sales Director Jeremy Jimenez. Hired the same year Thacher returned to the dealer group in 1994, Beaver says Thacher’s greatest quality as a leader is her ability to empower her people to drive the business forward.

By Gregory Arroyo

Vaden Automotive Group’s F&I operation is on a record-setting pace. But that’s just one of the reasons it earned the magazine’s 2014 F&I Dealer of the Year award.

Tags: DOY Winners, F&I Conference & Expo, F&I Dealer of the Year, F&I department

September 2014, F&I and Showroom - Feature

Preparing for the Meeting

By David Robertson

The executive director of the Association of Finance and Insurance Professionals explains why he looks forward to a meeting with the Consumer Financial Protection Bureau’s new assistant director.

Tags: CFPB, Consumer Financial Protection Bureau, Hudson Cook LLP, Tom Hudson

September 2014, F&I and Showroom - Feature

Satisfying Customers and the CFPB

By Jim Ganther

Compliance expert explains how dealers can turn the tables on the Consumer Financial Protection Bureau by using the agency’s own guidance to respond to complaints.

Tags: CFPB, Consumer Financial Protection Bureau, customer satisfaction

August 2014, F&I and Showroom - Feature

Handling Skittish Customers

By David Robertson

Asking customers to divulge sensitive information about themselves can sometimes lead to a polarizing exchange between the F&I manager and customer. The magazine’s compliance insider offers a few ways to put customers at ease.

Tags: AFIP, compliance, PERSONAL IDENTIFICATION INFORMATION

August 2014, F&I and Showroom - Feature

10.5 Ways to Create Customer Interest

By Rick McCormick

The magazine’s resident F&I pro thinks F&I managers can take a cue from the Duke of Wellington, who once said, ‘Wise people learn when they can. Fools learn when they must.’

Tags: F&I manager, F&I products, Rick McCormick

August 2014, F&I and Showroom - Feature

F&I Products at Center of Legislative Battles in Four States

Members of the Florida Automobile Dealers Association descend on the state’s capitol for Dealer Day, an event designed to show support for legislation backed by the association.

By Brittany-Marie Swanson

Legislation regulating the influence captive finance sources have on F&I product sales has popped up around the nation this year, but the industry disagrees on what is driving these state-by-state battles.

Tags: Aftermarket Products, CFPB, Consumer Financial Protection Bureau, Florida, legislation, Mississippi, New York

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