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

Special Finance®

226  -  250  of  1777

August 31, 2015 - Industry News

Manheim Opens Riverside Facilities to Assist in Used-Vehicle Evaluations

Pictured left to right:  Barry Room, Manheim Regional Vice President, West, Chris Brown, General Manager of Manheim Riverside, Scott Hurst, Market Vice President, Southwest Market, Riverside Mayor  Rusty Bailey, Janet Barnard, Manheim President of North America, Congressman Mark Takano and Mike Sadowski, VP of Operations, General Manager for Kelley Blue Book. Photo: Manheim

Manheim recently unveiled a new indoor vehicle inspection facility and the Kelley Blue Book Resource center at its California Service Center in Riverside, Calif.

Tags: Auto Auctions, Kelley Blue Book, Manheim, Used Cars

August 27, 2015 - Industry News

Payment Gap Between New and Used Hits All-Time High in Q2, Experian Reports

The rise in new-vehicle prices continued in the second quarter, with more consumers turning toward the used market and leasing. Loan terms also continued to stretch.

Tags: Auto Loan Terms, Experian Automotive, leasing, Monthly Payments

August 26, 2015 - Industry News

Depreciation Expected to Accelerate, Black Book/Fitch Report

The two firms reported this week that overall vehicle depreciation is expected to reach between 14% and 14.5% by the end of the year.

August 25, 2015 - Industry News

DealerSocket Report Offers Tips On How to Thrive in Slow-Growth Times

DealerSocket released its annual Dealership Action Report, which emphasized the importance of formal, technology-driven processes to thrive and increase profitability during slow periods.

Tags: data mining, DealerSocket, Online Marketing, parts and service

August 12, 2015 - Industry News

Ohio AG Sues Used-Car Dealer for Title Violations

AMG Auto Connection and its owner are accused of violating Ohio’s Certificate of Motor Vehicle Title Act after the dealership failed to deliver a car title in the time frame required by law.

Tags: Attorney General, compliance, Lawsuit, Mike DeWine, Ohio, Ohio Attorney general, vehicle title

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

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 23, 2015 - Industry News

GM Financial's Penetration of GM Retail Sales Grows Globally in Q2

GM Financial's transformation from subprime finance source to GM's captive finance company continued in the second quarter, with GM new-vehicle loans and leases accounting for 83.5% of total originations during the period.

Tags: Auto Lending, General Motors, GM Financial, leasing, Quarterly Earnings, subprime lending

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 14, 2015 - Industry News

NADA Files Request to Make CFPB Memo Public

The National Automobile Dealers Association filed a Freedom of Information Act request Monday, seeking to make a Consumer Financial Protection Bureau memo about limiting dealer discretion public.

Tags: CFPB, Consumer Financial Protection Bureau, dealer markups, Dodd-Frank Act, markups, NADA, National Automobile Dealers Association, Richard Cordray

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 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.

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

May 13, 2015 - Industry News

Western Funding Launches New Program for Dealers

Western Funding has announced its Triple Pay program, which allows dealers to build a bankable portfolio and receive three different types of payments on the same deal — upfront checks, near portfolio closing and back-end payment streams.

Tags: subprime, Western Funding Inc.

May 6, 2015 - Industry News

AppOne Update Eases Compliance Burden for BHPH Dealers

Wolters Kluwer’s new update allows its AppOne platform to accommodate multiple payment frequencies, helping to further streamline the loan origination process for buy-here, pay-here dealers.

April 9, 2015 - Industry News

Full-Size Vans Record Strongest Retention Value, Black Book Reports

Depreciation patterns are on a different trajectory than 2014, according to Black Book. The firm reported a 0.7% decrease in value for 2009-2013 model-year vehicles.

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

February 26, 2015 - Industry News

Santander Agrees to $9.35 Million DOJ Settlement

Santander has agreed to settle charges that it illegally repossessed more than a thousand cars it financed for active service members over a five-year period.

Tags: Debt Collection, Department of Justice, Santander, subprime

February 24, 2015 - Industry News

ADESA Pulls Out of Proposed Multi-Platform System

ADESA will not participate in the automotive remarketing industry's initiative to establish a platform that would allow simultaneous bidding on vehicles listed on multiple online auction sites.

Tags: ADESA, Auto Auctions, Manheim, remarketing

February 24, 2015 - Industry News

CPS CEO: Finance Source Ahead of the Compliance Curve

Consumer Portfolio Services CEO Charles Bradley laid out the lender’s compliance efforts during a quarterly earnings call last week. The finance source’s subprime lending activities are currently being investigated by Department of Justice.

Tags: CFPB, compliance, Consumer Financial Protection Bureau, Consumer Portfolio Services (CPS), Debt Collection, Department of Justice, Federal Trade Commission, FTC, Settlement

February 17, 2015 - Industry News

N.C. Dealerships Reach $225K Settlement in Predatory Loan Case

Two used-car dealerships and their owner reached a settlement this month with the Department of Justice and the state attorney general. The settlement resolves a lawsuit that alleged the dealerships charged African American buyers more for loans and repossessed vehicles without reasonable notice.

Tags: Attorney General, Department of Justice, discrimination, fair lending, GPS devices, Lawsuit, North Carolina, Repossessions

December 30, 2014 - Industry News

Mass. AG Investigating Santander’s Subprime Lending Business

Massachusetts Attorney General Martha Coakley has ordered Santander Consumer USA to produce documents related to its subprime auto lending business. The AG said she is also looking into the practices of a handful of other auto lenders.

Tags: Attorney General, Auto Lending, compliance, discrimination, Santander Consumer USA, subpoena, subprime

December 16, 2014 - Industry News

Credit Acceptance Subpoenaed by DOJ

Credit Acceptance has received a civil investigative subpoena from the U.S. Department of Justice, which requested that the finance company produce certain documents related to subprime auto lending.

Tags: Auto Loans, CFPB, Consumer Financial Protection Bureau, Department of Justice, subpoena

December 10, 2014 - Industry News

Bob & Chuck Eddy Expand MOTOR TREND Certification Program

The dealer group has added two more stores to the MOTOR TREND certified program. They’re located on Grove City, Pa.

Tags: Bob & Chuck Eddy, EasyCare, Motor Trend