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May 12, 2015

F&I Tip of the Week: ‘Can I Think About It?’

There’s nothing more aggravating than a customer asking for time to “think about it” after you've delivered a solid product presentation. F&I trainer Gerry Gould offers an effective response in his latest F&I Tip of the Week.

March 24, 2015

Consumers Want Lenders to Bid for Their Business, Study Shows

Swapalease.com released a new study that shows a majority of customers aren’t interested in car-sharing services or autonomous driving. What they do want is lenders bidding for their business.

March 10, 2015

Wells Fargo: Subprime Cap Part of ‘Ongoing Risk Management’

The bank’s dealer services division responds to the reported cap the finance source has placed on subprime auto originations.

March 5, 2015

Consumers Relying on Financing, Experian Reports

In 2014’s fourth quarter, the percentage of new vehicles purchased with financing increased over the previous year to reach 84%, according to Experian Automotive’s latest State of the Automotive Finance Market report.

December 16, 2014

‘Great Deleveraging’ Has Ended, Equifax Reports

Consumers are back in the borrowing business, with November consumer credit data from Equifax showing that nonmortgage credit balances rose to their highest level in five years.

December 2, 2014

Manheim Adds Experienced Executive to Leadership Team

Manheim selected Shane O’Dell to serve as senior vice president of wholesale service, a new role within the company. O’Dell has worked in the vehicle finance industry since 1995.

November 20, 2014

CFPB Needs a New 'Tool,’ Study Finds

F&I and Showroom delves into a new study commissioned by the American Financial Services Association. It concludes that the CFPB’s use of the BISG proxy method is “conceptually flawed” and could lead to overstatement of alleged harm to consumers.

October 14, 2014

Comment Period Opens for CFPB’s New Rule

The CFPB published its proposal rule to oversee larger participants in the nonbank auto finance segment in the Federal Register last week, kicking off a 60-day public comment period that ends on Dec. 8.

January 28, 2014

700 Credit, Equifax Partner on Income and Employment Verification Solution

The two firms have partnered on a new solution for dealers that is designed to resolve “stips” raised by their finance sources, allowing them to instantly verify income and employment information.

December 5, 2013

Experian: Auto Loan Interest Rates Fall to All-Time Low

According to the latest report from Experian Automotive, interest rates for auto loans fell to an all-time low in the third quarter, while the average amount financed reached its highest level since 2008.