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October 2018, F&I and Showroom - WebXclusive

Crack the Credit Union Code

By Ronald J. Reahard

Is your local credit union a friend or a foe? The magazine’s resident F&I wiz offers a four-step process you can use to unlock a powerful new auto finance source.

Tags: auto finance, credit unions

October 2018, F&I and Showroom - WebXclusive

Digital Is Great, Until It’s Not

By Rebecca D. Chernek

Switching to a digital menu has its benefits, but dealers can’t expect it to deliver on its promise without a plan of action.

Tags: Cox Automotive, Darwin Automotive, digital, digital retailing, online F&I, tablet menu

October 2018, F&I and Showroom - WebXclusive

Make F&I Great Again

By Michael Sung

Technology insider looks at four technologies designed to keep F&I managers in the digital retailing game.

Tags: digital, digital retailing, online F&I, Showroom, software, technology

October 2018, F&I and Showroom - WebXclusive

3 Elements of a Balanced Online F&I Strategy

By Rick McCormick

Flooding your dealership’s website with F&I content without a strategy can be just as costly as underreacting to the Digital Age. The magazine’s resident F&I pro details a balanced approach for taking F&I online.

Tags: digital, digital retailing, F&I office, F&I process, online F&I

October 2018, F&I and Showroom - Feature

F&I Pacesetters: Cecil Atkission Motors

Richardson describes the group’s sales and F&I processes as ‘predictable,’ meaning the organization values consistency and demands a high level of professionalism and courtesy in sales and F&I.

By Gregory Arroyo

For the last 25 years, the six-rooftop, Kerrville, Texas-based dealer group has operated under the belief that ‘When products are similar, the dealer makes the difference.”

Tags: Darwin Automotive, DOY Pacesetters, F&I director, F&I manager, F&I Pacesetters

October 2018, F&I and Showroom - Feature

F&I Pacesetters: Nyle Maxwell Family of Dealerships

Nyle Maxwell Family of Dealerships operates four stores in the Austin-Round, Texas, area.

By Gregory Arroyo

Mike Wilson has worked for a number of organizations since he started selling cars in 1985, and none have made him more proud to be in the business than the Nyle Maxwell Family of Dealerships. Now the Texas-based group is in the running for the magazine's F&I Dealer of the Year award.

Tags: DOY Pacesetters, F&I managers, F&I Pacesetters, Nyle Maxwell Dealerships

October 2018, F&I and Showroom - Feature

F&I Pacesetters: Hoehn Carlsbad Buick GMC Cadillac

Flanking F&I managers Megan Phillips and Richard Thorton are group F&I Director Josh Sherman (l) and store General Manager Jerry Brummet. The group has high expectations for its F&I producers, which is why candidates must have worked in another area within the organization and attended “Hoehn University.” The eight-week course, which is led by general managers from each of the group’s stores, covers a number of topics related to ethics and compliance.

By Gregory Arroyo

To become an F&I manager at this Carlsbad, Calif.-based Buick-GMC-Cadillac store, candidates must complete an eight-week course addressing a number of topics related to ethics and compliance. The dealership is in the running for the magazine's F&I Dealer of the Year award.

Tags: compliance, DOY Pacesetters, F&I manager, F&I Pacesetters, F&I training, Hoehn Carlsbad Buick GMC Cadillac

October 2018, F&I and Showroom - Feature

F&I Pacesetters: Zumbrota Ford

Zumbrota Ford is a 19-year-old dealership located in a small Minnesota town of the same name

By Gregory Arroyo

Dealer Steve Johnson knows how quickly word spreads when you operate in a small town. That’s why reputation means more than profitability at his Zumbrota, Minn.-based Ford store. It's in the running for the magazine's F&I Dealer of the Year.

Tags: compliance, DOY Pacesetters, F&I managers, F&I Pacesetters, F&I product, Zumbrota Ford

October 2018, F&I and Showroom - Feature

F&I Pacesetters: Bob Moore Buick GMC

The Oklahoma City dealership is part of the 14-store, Bob Moore Automotive Group, which has two stores in the final round of the magazine’s F&I Dealer of the Year contest.

By Gregory Arroyo

Bob Moore Buick GMC is a process-driven machine, but that’s just one of the reasons the Oklahoma dealership’s F&I department is putting up big numbers. It's in the running for F&I and Showroom's F&I Dealer of the Year award.

Tags: Bob Moore Auto Group, DOY Pacesetters, F&I manager, F&I Pacesetters, F&I products, F&I training

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

July 2018, F&I and Showroom - Cover Story

Sales in the Blink of an Eye

The Blinker app’s image recognition technology allows users to stand behind a vehicle and snap a photo to receive details like year, make, model, approximate mileage, estimate value, and most of the vehicle’s equipment.

By Stephanie Forshee

Blinker’s P2P ecommerce technology isn’t designed to pose a threat to car dealers. In fact, the company could be working with manufacturers and dealerships in the near future.

Tags: Ally Financial, Blinker, digital retailing, GAP, mobile app, online F&I, private-party sales, Vehicle Service Contract

July 2018, F&I and Showroom - Feature

F&I’s Need for Nobility

getty images/adventtr

By Lloyd Trushel

With 78% of Americans living paycheck to paycheck, F&I insider says it’s time for F&I producers to change their approach.

Tags: auto affordability, auto finance, compliance, F&I manager, F&I process, home values

July 2018, F&I and Showroom - Feature

Your Showroom Is the New Amazon

©gettyimages.com/Natali_Mis

By Travis Wise

Dealer tech expert has a process for converting your new-car operation into an Amazon-like online marketplace.

Tags: digital retailing, inventory management, new-vehicle sales, profit margin, used-vehicle sales

July 2018, F&I and Showroom - Feature

Moving F&I Online

By Cheryl Miller

Dealer software expert makes the case for following your customers online and adopting a fully digital transaction.

Tags: auto finance, Dealertrack, digital retailing, F&I manager, F&I process, online F&I, software, technology

July 2018, F&I and Showroom - Feature

Priced Out

©GETTYIMAGES.COM/GPOINTSTUDIO

By Melinda Zabritski

Record highs in two critical auto finance categories make clear that vehicle affordability is becoming a big problem for car buyers.

June 2018, F&I and Showroom - WebXclusive

The CFPB’s Spirit Lives On

Eric Johnson, partner at Hudson Cook LLP

By Tariq Kamal

In the first of a series of F&I Think Tank webinars, attorney Eric Johnson offered a wake-up call to dealers and F&I professionals who thought the industry won a decisive victory over the Consumer Financial Protection Bureau when the federal agency’s auto finance guidance was rescinded in May.

June 2018, F&I and Showroom - WebXclusive

3 Factors Impacting 2018 Auto Shipping Costs

By Max Matev

Transportation and shipping expert identifies three reasons auto transportation costs are up this year.

Tags: Auto Transport, inventory management, Max Matev, MIG Auto Transport, used-vehicle sales

May 2018, F&I and Showroom - Cover Story

Special Report: Unwinding the CFPB

On May 21, President Trump signed into law the Congress-approved resolution of disapproval of the CFPB’s dealer participation guidance, ending the regulator’s attack on a key source of dealer income five years and two months after it began.

By Gregory Arroyo

F&I tracks the rise and fall of the Consumer Financial Protection Bureau’s aggressive but ultimately futile five-year assault on dealer participation.

Tags: American Financial Services Association, Andrew Koblenz, auto finance, Bill Himpler, Chris Stinebert, compliance, Consumer Financial Protection Bureau, Donald Trump, guidance, National Automobile Dealers Association, Paul Metrey

May 2018, F&I and Showroom - Cover Story

Transparency Wave Rolling Into F&I

More than 500 exhibitors lined the aisles inside the Las Vegas Convention Center for the National Automobile Dealers Association’s annual convention and exposition, which was held March 22-25. (Photo Courtesy of NADA)

By Gregory Arroyo

Digital retailing invaded the Las Vegas Convention Center in late March for NADA 2018, but its arrival did little to bring clarity to F&I’s cloudy future.

Tags: Carvoy, Cox Automotive, DealerSocket, Dealertrack, Dent Wizard, digital retailing, ELEAD1ONE, online F&I, Protective Asset Protection Division, Reynolds & Reynolds, Roadster

May 2018, F&I and Showroom - Feature

Cause for Concern: CEOs Take the AFSA Stage

Fielding question posed by Charlie Vogelheim (left) during the 2018 Vehicle Finance Conference’s CEO panel were (from left) Ravi Raghu, president of Capital One Auto Finance; Rich Morrin, president of Chrysler Capital and auto relationships for Santander Consumer USA Inc.; Rich Hyde, COO of Prestige Financial Services; and Dan Berce, president and CEO GM Financial. (Photo courtesy of AFSA)

By Jim Henry

Executives representing leading auto finance sources gathered at the American Financial Services Association’s 2018 conference to discuss the present and future consequences of inflated lease returns, declining used-car values, and rising interest rates.

Tags: American Financial & Automotive Services, auto finance, Capital One Auto Finance, Chrysler Capital, Fiat Chrysler, General Motors, GM Financial, J.D. Power, Lease, Prestige Financial

May 2018, F&I and Showroom - Feature

NADA Seeks Clarity Through Upheaval

Vince Rice, COO of Hyundai Capital and 2018 chairman of the AFSA’s Vehicle Finance Division, interviews Wes Lutz, 2018 NADA chairman and president of Extreme Chrysler Dodge Jeep Ram Inc. in Jackson, Mich. (Photo courtesy of AFSA)

By Jim Henry

NADA Chairman Wes Lutz laid out the association's priorities and touched on a number of pressing topics at the American Financial Services Association (AFSA)’s 2018 Vehicle Finance Conference.

Tags: American Financial & Automotive Services, auto finance, compliance, Consumer Financial Protection Bureau, Donald Trump, Military Lending Act, National Automobile Dealers Association, Vehicle Finance Conference, Wes Lutz

May 2018, F&I and Showroom - Feature

Menu Selling Reloaded

Photo courtesy of iStock. 

By Rick McCormick

F&I trainer believes new technology and expert salesmanship can combine to create an efficient and productive menu-selling process.

Tags: F&I menu, F&I Menu Presentation, technology, Tips

April 2018, F&I and Showroom - WebXclusive

A Robust Future for Used-Car Sales and CUs

By Bob Child

Credit unions have gained market share as other finance sources have retrenched, creating new incentive to diversify your selection finance sources.

April 2018, F&I and Showroom - Feature

Auto Finance Data Reveals Affordability Concerns

Photo via Getty Images. 

By Melinda Zabritski

Fourth-quarter loan balances reached an all-time high for the third year in a row, but records broken for amounts financed and monthly payments raise affordability concerns.

Tags: Auto Loans, Credit, Credit Scores, Finance, Fourth Quarter, Quarterly Report

March 2018, F&I and Showroom - Feature

7 Reasons to Embrace Mobile F&I

By Alan Campbell

Car buyers no longer rely on the dealership as their sole source of information about F&I products. Trainer offers seven reasons forward-thinking dealers are meeting customers in the mobile marketplace.

Tags: digital retailing, F&I manager, F&I menu, F&I training, online F&I, Showroom, tablet menu, technology

March 2018, F&I and Showroom - Feature

Finding Greatness in the Box

By Lloyd Trushel

F&I professionals who stop swinging for the fences and focus on base hits stand to gain the confidence of their customers and the per-copy average that comes with it.

Tags: auto finance, F&I manager, F&I menu, F&I production, F&I products, F&I training

March 2018, F&I and Showroom - Feature

Don’t Let the Deal Ruin the Sale

©gettyimages.com/AndreyPopov

By Keith Whann

Compliance expert lists four steps dealers and F&I professionals can take to fill the gaps in your documentation process and prepare your dealership for regulatory inquests.

Tags: Audit, auto finance, compliance, dealer compliance

March 2018, F&I and Showroom - Cover Story

A War on Many Fronts

(Photo courtesy of the NADA)

By Tariq Kamal

NADA chairman and Michigan dealer Wes Lutz takes the association’s helm during a time of transition and conflict at the factory, retail and legislative levels.

Tags: auto finance, compliance, Donald Trump, Fully Autonomous, mobility, NADA Chairman, National Automobile Dealers Association, Wes Lutz

March 2018, F&I and Showroom - Feature

When Greedies Meet Stupids

By Gil Van Over

Dealer compliance expert offers a crash course in detecting and preventing identity theft by fake car buyers and unprincipled employees.

Tags: auto finance, compliance, Federal Trade Commission, Gil Van Over, identity theft, Red Flags Rule

February 2018, F&I and Showroom - Feature

Succession Planning: Who’s Taking the Wheel?

By Derek Comestro

Financial services expert offers dealers a five-step plan to secure their legacy and minimize the tax liability of those who inherit or buy their dealership.

Tags: dealer, management, Succession Planning

February 2018, F&I and Showroom - Cover Story

The Rise of Subscription Services

By Michaela Kwoka-Coleman

Automakers are dipping their toes in the subscription waters, but dealers and some industry watchers are skeptical about the business model’s lucrativeness and its ability to attract customers.

Tags: auto finance, Book by Cadillac, Boston Volvo Village, Care by Volvo, Fair, Flexdrive, George Bauer, Ioniq Unlimited, Porsche Passport, Subscription Service, Village Automotive Group

January 2018, F&I and Showroom - Feature

Auto Finance Registers Subprime Record in Q3 2017

By Melinda Zabritski

Third-quarter data from Experian Automotive shows that the auto finance market gained strength and stability, but mostly at the expense of subprime originations.

Tags: auto finance, delinquencies, Experian Automotive, Melinda Zabritski, Oustanding Auto Loan Balances

December 2017, F&I and Showroom - Cover Story

Tap to Lease

By Brittany-Marie Swanson

Honcker’s Nathan Hecht took his dislike of the typical leasing process and turned it into a mobile app that’s delivering ready-to-go deals to dealers in eight states and an experience studies show customers want — even when it comes to F&I.

Tags: digital retailing, Honcker, Mobile Applications, online F&I

December 2017, F&I and Showroom - Feature

Perfect Storm

By Tariq Kamal

Industry Summit’s executive panel convened to discuss and debate the effects of Hurricane Harvey, the status of the used-car and subprime markets, the GM mandate, and the digitization of the F&I process.

Tags: auto finance, digital retailing, Disclosures, GAP, General Motors, guaranteed asset protection, Hurricane Harvey, new-vehicle sales, online F&I, SAAR, Subprime Financing

December 2017, F&I and Showroom - Feature

Popping the F&I Question

The promposal craze was first mentioned in the Dallas Morning News in 2001, and continues to grow in popularity and scale each year. MTV even launched a series called “Promposal.” Although the promoposal is just a microcosm of society, the author says it illustrates the need for people to feel special about making decisions.

By Dwayne Wiggins

F&I trainer says F&I offices can learn a lot from the current ‘promposal’ craze. He offers a three-step process for converting your one-size-fits-all presentation into a personalized, needs-based proposal.

Tags: F&I menu, F&I Presentation, F&I process, F&I products

December 2017, F&I and Showroom - Feature

Rich Cordray’s Legacy and The Future of the CFPB

By Lucy Morris

A former bureau official reflects on her time under former CFPB Director Richard Cordray, and explains why the industry shouldn’t be breathing a sigh of relief with his departure.

Tags: auto finance, CFPB, compliance, dealer participation, Donald Trump, Hudson Cook LLP

November 2017, F&I and Showroom - WebXclusive

Drive Motors Preps Dealers for Cyber Monday, Offers 2018 Predictions

By Michaela Kwoka-Coleman

Drive Motors’ Aaron Krane predicted that, for 2018, dealerships that embrace digital dealmaking will become known as the ecommerce hubs of their regions, a move that will end up pressuring manufactures to sell their cars directly online as well.

Tags: digital retailing, Drive Motors, online F&I

November 2017, F&I and Showroom - Feature

F&I Pacesetters: Bob Moore Cadillac of Edmond

Pictured with American Financial’s Arden Hetland and F&I and Showroom’s Gregory Arroyo is General Manager Adam Black, who received the magazine’s F&I Pacesetter award on behalf Bob Moore Cadillac of Edmond at the magazine’s annual conference in Dallas this past September. The dealership is one of two Cadillac stores in the 14-rooftop Bob Moore Auto Group.

By Gregory Arroyo

The Edmond, Okla., Cadillac dealership is one of two Cadillac stores in the Bob Moore Auto Group, a 14-rooftop dealer group founded by Robert W. Moore.

Tags: auto finance, Bob Moore Auto Group, charity giving, compliance, DOY Pacesetters, F&I department

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

November 2017, F&I and Showroom - Cover Story

F&I Dealer of the Year: Mr. D's Way

Dealer Mike Dunnahoo poses with F&I Manager Jeremy Johnson and longtime F&I Director Jeff Zinsser, who has been with the group for 22 years. Missing is F&I manager Dan Hall, who has been with Star for 11 years. The team averages $1,872 per copy on new and $1,542 on used.

By Gregory Arroyo

When F&I Dealer of the Year Mike Dunnahoo arrived in Abilene, Texas, 18 years ago, he didn’t just take over a dealership, he adopted a community.

Tags: Awards, DOY Winners, EFG Companies, F&I process, GAP, Jeff Zinsser, Mike Dunnahoo, Star Dodge Chrysler Jeep Ram/Hyundai, theft protection, vehicle service contracts

November 2017, F&I and Showroom - Feature

To Catch a Thief

By Gil Van Over

The magazine’s resident compliance pro says Red Flags tools aren’t foolproof. He offers four tips for vetting suspicious buyers who seem to have all the right answers.

Tags: auto finance, compliance, F&I process, identity theft, Red Flags Rule

October 2017, F&I and Showroom - Feature

The Past, Present and Shifting Future of F&I

By Lloyd Trushel

Finance teams of the future will be staffed with professionals whose goals align with those of the dealer and whose jobs are supported — not replaced — by new and emerging technology.

Tags: Customer Experience, digital retailing, F&I manager, F&I process, F&I products, online F&I

October 2017, F&I and Showroom - Feature

Subprime Pullback Continues in Q2

By Melinda Zabritski

The auto finance market is a trillion-dollar industry. It’s also very much a prime market, with subprime financing remaining at near-record lows in the second quarter.

Tags: auto finance, average finance amount, banks, captive finance, credit unions, delinquencies, finance companies, loan amounts

October 2017, F&I and Showroom - Feature

There Is Power in Alliances

By John Vecchioni

Top trainer lists four ways to build an interdepartmental culture that rewards customers while maximizing the opportunity for F&I product sales.

Tags: Customer Experience, F&I office, F&I process, F&I products, Showroom

October 2017, F&I and Showroom - Cover Story

Bridging the Digital GAP

By Scott Hendriks and Vincent Weir

Once the king of the car-buying process, dealers are under attack in today’s Digital Age. Industry insiders believe auto finance sources hold the key to restoring order.

Tags: auto finance, digital marketing, digital retailing, direct lending, Indirect Lending, online F&I

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 - 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

Disbanding the 'Seven Car Club'

By Reuben Muinos

Sales expert lists three tasks dealers must complete to rid their showrooms of underperforming sales pros.

Tags: Business Development Center, DealerSocket, digital retailing, internet department, Internet Leads, Internet Shopper, Showroom

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