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Insider Tip of the Week

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August 25, 2015 - Industry News

ACSI: Customer Satisfaction Weakens as Recalls Continue

The American Customer Satisfaction Index showed declines for most automakers, with imports topping domestic brands. The nameplate with the highest score was Toyota’s Lexus.

August 19, 2015 - Industry News

J.D. Byrider Opens New Franchise in Virginia

Used-car sales franchise J.D. Byrider has opened a second dealership in Richmond, Va., the sixth new J.D. Byrider franchise to open in 2015. The company now has 169 locations in 34 states.

Tags: Franchised Dealerships, used car sales, Virginia

August 18, 2015 - Industry News

AutoNation Acquires 16 Stores

AutoNation has signed agreements to acquire 13 stores in Georgia, Alabama and Tennessee, and three stores in the Baltimore, Md., market, bringing its total franchise count to 327.

Tags: Acquisition, AutoNation, Franchised Dealerships, Mike Jackson

August 11, 2015 - Industry News

Auto Loan and Lease Balances Top $1 Trillion, Equifax Reports

The auto finance industry originated nine million auto loans through the first four months of year, totaling $182.9 billion. Equifax said these were the highest levels for this time of year since it began tracking auto finance data.

Tags: auto finance, Auto Loans, banks, captive finance, Equifax, F&I manager, F&I process

August 5, 2015 - Industry News

Ziegler to Deliver Profit Masters Seminar at Industry Summit 2015

The Alpha Dawg will return to Industry Summit to deliver his two-day training seminar, which will cover topics related to sales, F&I, BDC and Internet department management. The training seminar is included with the purchase of a full conference pass.

Tags: Business Development Center, F&I director, F&I manager, general manager, General Sales Manager, Industry Summit, internet department, Jim Ziegler, Sales Management

August 4, 2015 - Industry News

Ask Joe Contest Deadline Extended

F&I and Showroom magazine announced today that the deadline to enter the Ask Joe contest, which will send five readers to Industry Summit 2015, has been extended to Aug. 17.

Tags: Ask Joe, F&I manager, IAS, Industry Summit, Innovative Aftermarket Systems, Joe St. John

August 4, 2015 - Industry News

Wells Fargo Dealer Services Opens Second Office in New Jersey

The new location represents Wells Fargo Dealers Services’ 56th Regional Business Center. It’s also the first of two new offices the company plans to open in 2015.

Tags: auto finance, F&I manager, F&I process, Indirect Lending, Wells Fargo Dealer Services

July 28, 2015 - Industry News

Vero Forms New Division With Acquisition of Fidelis PPM

With the acquisition, Vero and Fidelis PPM have formed DRIV Technologies LLC, which will provide dealers with a new prepaid maintenance technology platform designed to drive up customer retention.

Tags: DRIV Technologies, F&I manager, F&I menu, F&I products, Fidelis PPM, Prepaid Maintenance, Vero

July 22, 2015 - Industry News

Ally Renews Exclusive Sponsorship of TIME Dealer of the Year

Ally Financial has renewed its exclusive sponsorship of the TIME Dealer of the Year program through 2021. Nominations for the 2016 program are now open.

Tags: Ally Financial, charity giving, NADA, NADA Convention and Expo, National Automobile Dealers Association, TIME Dealer of the Year

July 16, 2015 - Industry News

Win a Trip to Industry Summit 2015

IAS and F&I and Showroom magazine have launched a new contest that will send five F&I managers to Industry Summit 2015. The competition will be used to tee up a special F&I manager- and agent-only workshop session at the magazine’s annual conference.

Tags: Ask Joe, F&I director, F&I manager, F&I products, F&I training, IAS, Industry Summit, Innovative Aftermarket Systems, Joe St. John

July 15, 2015 - Industry News

Depreciation Slows in June, NADA Used Car Guide Reports

Used-vehicle depreciation slowed modestly in June compared to May’s more rapid pace, the firm reported this week, with prices for vehicles up to eight years in age falling 2.5% on a monthly basis in June.

Tags: J.D. Power and Associates, NADA Used Car Guide, used vehicles, used-vehicle values, vehicle depreciation

July 7, 2015 - Industry News

Nomination Deadline for F&I Dealer of the Year Announced

Pictured are F&I and Showroom's Gregory Arroyo, 2014 F&I Dealer of the Year Jane Vaden Thacher, and The Warranty Group's Ash Bauer.

F&I and Showroom is now accepting nominations for the 2015 F&I Dealer of the Year award. Nominations must be received by July 31, 2015.

Tags: F&I Dealer of the Year

June 30, 2015 - Industry News

Automotive Loyalty Reaches Highest Levels in a Decade, IHS Reports

IHS reported this week that brand loyalty among automotive brands has reached a 10-year high, with 13 brands also realizing 10-year highs in loyalty rates.

Tags: Customer Retention, IHS Automotive, Loyalty Rates, new-vehicle sales

June 30, 2015 - Industry News

Experian Examines the Muscle Car Resurgence

Experian Automotive's review of the American muscle car resurgence found that Chevrolet Corvette and Dodger Viper buyers tend to pay cash, while the Dodge Charger was the most leased muscle car.

Tags: Chevrolet Corvette, Consumers, demographics, Dodge Challenger, Dodge Viper, Experian Automotive, Ford Mustang

June 30, 2015 - Industry News

NADA’s Koblenz Joins Industry Summit Roster

The NADA official who has spearheaded the association's efforts to protect franchised dealers from federal regulatory overreach will be at Industry Summit 2015 to deliver a keynote address, event organizers announced this week.

Tags: Andy Koblenz, CFPB, Disparate Impact, National Automobile Dealers Association

June 25, 2015 - Industry News

Protective Asset Protection Receives 2015 Dealers’ Choice Award

Protective Asset Protection was named a Platinum winner in the vehicle service contract provider category of Auto Dealer Monthly’s 2015 Dealers’ Choice Awards.

June 25, 2015 - Industry News

KBB Raises 2015 Sales Forecast to 17.1 Million Units

Kelley Blue Book said today that it expects June sales to total 1.5 million units, which would push first-half and second-quarter sales totals to their highest levels since 2005. The firm also raised its 2015 sales forecast from 16.9 million to 17.1 million.

Tags: auto dealers, Auto Industry, Kelley Blue Book, new-vehicle sales

June 17, 2015 - Industry News

N.Y. Dealers Targeted for Payment Packing and Other Deceptive Practices

Attorney General Eric Schneiderman, which announced on Wednesday a $14 million settlement with three Paragon dealerships, says he intends to file suit against 11 additional dealerships for the unlawful sale of credit repair and identity theft-prevention products.

Tags: attorney general, credit repair, Eric Schneiderman, F&I office, F&I products, identify theft, payment packing

June 11, 2015 - Industry News

CFPB to Oversee Nonbank Auto Finance Companies

The CFPB finalized last week its proposal to oversee nonbank auto finance companies. The finalized rule, which left out recommendations submitted by an auto finance trade group, will take effect 60 days after publication in the Federal Register.

Tags: American Financial Services Association, auto finance, CFPB, Consumer Financial Protection Bureau, nonbank auto finance

June 4, 2015 - Industry News

Severe Delinquencies Fall to 10-Year Low, Equifax Reports

Despite new auto loan originations reaching a record high, the auto finance industry saw severe delinquency rates fall to their lowest level in nearly a decade.

June 2, 2015 - Industry News

Ally Premier Protection Now Available Nationwide

The company rolled out its new Ally Premiere Protection after completing a three-month pilot. Test dealers gave Ally high marks for training and product transition.

Tags: Ally, Ally Premiere Protection, vehicle service contracts

May 13, 2015 - Industry News

Autosoft Certifies MaximTrak F&I Platform

MaximTrack Technologies’ F&I suite has completed Autosoft’s certification process and now integrates with the tech firm’s FLEX DMS.

Tags: dealership management system, F&I manager, F&I menu, F&I office, F&I products, F&I tools

April 28, 2015 - Industry News

Annual Cost to Own a Vehicle Falls 2%, AAA Finds

Decreases in gas prices and finance charges related to auto loans fueled the decline, but rises in maintenance and tire replacement costs make F&I protections an important consideration for vehicle owners.

Tags: AAA, Cost to Own, F&I manager, F&I products, Road Hazard Protection, Tire and Wheel, Vehicle Service Contract

April 2, 2015 - Industry News

Buffett Won’t Steer F&I, Defends Franchise Model

The Billionaire investor weighs in on a host of topics, from Tesla and the franchise system to his acquisition of the Van Tuyl Group and the opportunities that lie in F&I.

Tags: Automotive Forum, Berkshire Hathaway Automotive, J.D. Power and Associates, NADA, Van Tuyl Group, Warren Buffet

March 19, 2015 - Industry News

Recalls Driving Up Service Satisfaction, J.D. Power Reports

Service satisfaction is on the rise despite the three-year increase in vehicle recalls, according to J.D. Power. The firm also reported that customer satisfaction was significantly higher at dealerships offering service express lanes.

Tags: Buick, Customer Service Index, Jaguar, JD Power and Associates, service department