The Industry's Leading Source For F&I, Sales And Technology

Insider Tip of the Week

126  -  150  of  245

March 8, 2016 - Industry News

SouthwestRe Introduces Powertrain Wrap Program

SouthwestRe's new Automotive Powertrain Wrap is a vehicle service contract designed to be sold together with the F&I product provider's First Automotive Lifetime Powertrain Limited Warranty program.

Tags: Powertrain Coverage, Service Contracts, SouthwestRe

March 2, 2016 - Industry News

Tom Hudson Joins Dealer Summit Roster

Prominent consumer finance attorney Thomas B. Hudson will be at Dealer Summit this May to discuss how regulators have changed the business model for special finance and buy-here, pay-here operations.

Tags: auto finance, buy-here, CFPB, FTC, pay-here, special finance, Subprime Financing, Tom Hudson

February 25, 2016 - Industry News

APCO Acquires Automotive Development Group

The acquisition brings together two firms that have been connected since 1992, with ADG serving as APCO’s largest independent agency for seven of those years, including the last two.

Tags: APCO, Automobile Development Group, EasyCare, F&I product provier, F&I products, general agents

February 24, 2016 - Industry News

Ford Motor Credit Piloting Ride-Sharing Lease Program

The captive is piloting a new program in Austin, Texas, that will allow a group of three to six people to lease a Ford Vehicle. The program includes a mobile app that allows participants to schedule drive times, make payments and keep up with vehicle maintenance.

Tags: Austin, Ford, leasing

February 18, 2016 - Industry News

Pothole-Related Damage Costs U.S. Drivers $3 Billion Annually, AAA Finds

Photo courtesy of AAA. 

Potholes on U.S. roadway have become a $3 billion annual problem for vehicle owners, according to a new study from AAA. The findings make for great evidence manual material for F&I offices selling tire-and-wheel protection.

Tags: AAA, Repair, Vehicle Damage

February 16, 2016 - Industry News

Charlie Robinson to Keynote F&I Think Tank at Dealer Summit

Organizers of Dealer Summit announced that Charlie Robinson, president and COO of the Resource Automotive division at The Warranty Group, will deliver the keynote address for F&I Think Tank.

Tags: Charlie Robinson, Dealer Summit, F&I managers, F&I products, F&I Think Tank, F&I training, Resource Automotive, The Warranty Group

February 16, 2016 - Industry News

CNA National's Participation Programs Return $40 Million to Dealers in 2015

CNA National Warranty Corp. (CNAN) announced this week it returned more than $40 million to dealers through its various participation plans in 2015, bringing the total amount of money the firm has returned to dealers since its founding to more than $370 million

Tags: CNA National, Controlled Foreign Corp., distribution, Noncontrolled Foreign Corp.

February 11, 2016 - Industry News

Asbury: ‘Favorable Lending Environment” Spurs 9% Gain in Q4 F&I Revenue

Asbury Automotive Group reported this week that it’s F&I operations realized a $55 per-copy increase in the fourth quarter, with the group averaging $1,426 in gross profit per vehicle retailed during the end-of-year quarter.

Tags: Asbury Automotive, Fourth Quarter, PVR, Quarterly Earnings, Vehicle Sales

February 9, 2016 - Industry News

New EasyCare App Allows Dealers to ‘Own’ the ODBII Port

EasyCare is getting set to launch a new mobile app that will allow dealers to own the ODBII port in their customers’ vehicles. The connection will allow dealers to tailor service offers and alerts, as well as allow customers to perform a full health scan of their vehicle on their mobile device.

Tags: EasyCare, F&I manager, F&I products, mobile app, Mobile Marketing, service department

February 9, 2016 - Industry News

GWC Warranty Releases New Website Design

GWC Warranty's newly redesigned website is now live. It features simple-to-navigate content designed for dealers and customers alike. It also provides owners of GWC products with a dealer locator, and allows them to easily look up coverage, among other features.

Tags: GWC Warranty Corporation, Redesign, Website

February 9, 2016 - Industry News

Q4 2015 Outstanding Loan Balances Reach Highest Level on Record, Experian Reports

Outstanding auto loan balances totaled $987 billion in the fourth quarter 2015, up 11.5% from the year-ago period and the highest level since Experian Automotive began publicly tracking the data in 2006.

Tags: 30-day delinquency rate, 60-Day Delinquency Rate, auto finance, Auto Loans, banks, captive finance, credit unions, Experian Automotive, finance companies, Oustanding Auto Loan Balances

February 9, 2016 - Industry News

Ally Financial Increasing Carvana's Floorplan Credit Line

Ally Financial said this week it is increasing the online vehicle retailer's floorplan credit line from $60 million to $125 million. This will allow Carvana to finance approximately 7,100 vehicles, up from 3,400.

Tags: Ally Financial, Carvana, credit lines, floorplan financing

February 8, 2016 - Industry News

Fighter Pilot Bruce Bright to Keynote Dealer Summit

Organizers of Dealer Summit have announced that Lt. Col. Bruce Bright, USMC (Ret.) will deliver a motivational keynote address at the event, which will be held May 3–5, 2016, at the Sheraton Tampa Riverwalk Hotel.

Tags: Dealer Summit, Randy Crisorio, United Development Systems

February 3, 2016 - Industry News

Toyota Ends Scion Experiment

The automaker announced on Wednesday it plans to transition the youth-geared brand back into the Toyota brand, with several model-year 2017 vehicles expected to be rebadged as Toyota beginning in August.

Tags: Jim Lentz, Scion, Toyota

February 3, 2016 - Industry News

Toyota Motor Credit Agrees to Lower Markup Caps to Settle CFPB Allegations

The three-year standoff between Toyota Motor Credit, the Justice Department and the CFPB is over, with the captive agreeing to pay up to $21.9 million in restitution to minority borrowers the regulators allege were overcharged on their auto loans. The captive also agreed to lower its dealer markup caps.

Tags: Auto Loans, CFPB, Consumer Financial Protection Bureau, dealer markups, dealer participation, Department of Justice, pricing discrimination, rate markup, Toyota Motor Credit Corp

February 2, 2016 - Industry News

F&I Think Tank Adds Top Compliance Experts

Six of the industry’s top compliance experts will be at the Sheraton Tampa Riverwalk Hotel to lead a 20 Group-like session on compliance. Aside from fielding questions from attendees, the group will tackle some pervasive regulatory myths surrounding the F&I office.

Tags: CFPB, compliance, David Robertson, FTC, Jim Ganther, Karen Klees, Michael Tuno, NADA, Randy Henrick, Robert Harkins

February 2, 2016 - Industry News

Auto/Mate Announces Integration With Scan123

Scan123’s electronic document management system is now integrated with Auto/Mate’s Automotive Productivity Management Suite DMS, allowing Scan123 users to store and access documents through Auto/Mate’s DMS.

Tags: Auto/Mate, electronic document storage, F&I office, Scan123

February 2, 2016 - Industry News

J.D. Power/LMC: Snow Storm Slows But Doesn’t Stop Car Sales in January

The two firms expect January total light-vehicle sales to total 1.1 million units, while the January SAAR is expected to have reached 16.8 million units. LMC Automotive said its sales forecast for 2016 remains at 17.8 million units.

Tags: fleet sales, J.D. Power, January sales, LMC Automotive, Retail Sales, SAAR

January 28, 2016 - Industry News

GM, Jim Koons and Lithia Settle FTC’s Complaints Regarding CPO Claims

The regulator said the three companies agreed to settle its charges that they failed to disclose that some certified pre-owned vehicles were subject to open and unrepaired safety recalls despite claims of rigorous inspections in advertisements.

Tags: Deceptive Advertising, Federal Trade Commission, FTC, General Motors, Jim Koons Automotive, Lithia Motors

January 28, 2016 - Industry News

Cox Automotive Enters F&I Product Business

Cox Automotive announced today it has acquired a minority interest in F&I product provider SilverRock Holdings LLC. Officials said the products will be sold through dealers affiliated with Go Financial and NextGear Capital.

Tags: Cox Automotive, GAP, GO Financial, NextGear Capital, Oreno Holdings, SilverRock Holdings, vehicle service contracts, Vehicle-Recovery Device

January 28, 2016 - Industry News

New York AG Charges Multi-Store Group With Payment Packing

Attorney General Eric Schneiderman filed suit last week against Koeppel Auto Group as part of its two-year crackdown on payment packing and the sale of credit repair and identify theft protection services.

Tags: Credit Forget It, Damien Bullard, Eric Schneiderman, IDDG, NY Attorney General, payment packing

January 26, 2016 - Industry News

Goebel to Pull Triple Duty at Dealer Summit

Organizers of Dealer Summit have announced that Greg Goebel will lead three of the eight sessions dedicated to special finance at Dealer Summit, which will be held May 3–5, 2016, at the Sheraton Tampa Riverwalk Hotel.

Tags: Dealer Summit, DealerStrong, F&I Think Tank, Greg Goebel, special finance

January 20, 2016 - Industry News

UDS's Romani Joins Dealer Summit Roster

Organizers of Dealer Summit announced that United Development Systems Inc. (UDS)’s Fernando Romani has agreed to speak at the event, which is scheduled for May 3–5, 2016, at the Sheraton Tampa Riverwalk Hotel.

Tags: Dealer Summit, F&I manager, F&I Think Tank, F&I trainer, Fernando Romani

January 19, 2016 - Industry News

Vehicle Reliability a Growing a Concern for Car Buyers, J.D. Power Finds

The J.D.Power 2016 U.S. Auto Avoider Study examined the reasons consumers purchased, rejected and avoided models in the marketplace during 2015. According to the survey, vehicle reliability has become a top consideration.

Tags: Car Buyers, car buying, J.D. Power, Study, Survey

January 19, 2016 - Industry News

Wash. Dealer Ordered to Pay $74,000 for Deceptive Advertising

Rairdon’s Dodge Chrysler Jeep of Kirkland agreed to pay $35,125 in civil penalties and $39,210 in costs and fees. The dealership was charged with violating the state's Consumer Protection Act for sending out 7,025 promotional mailers that mimicked official NHTSA recall notices.

Tags: Chrysler, consumer protection, Dodge, Jeep, mailers, National Highway Traffic Safety Administration