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October 16, 2018 - Industry News

GM Rolls Out Optional Extended Warranty

The new extended ‘bumper-to-bumper’ warranty isn’t designed to act like a dealer-offered service contract. Repairs can be completed without filing a claim and there are no deductibles. The option also is included in a vehicle’s overall price.

Tags: extended warranties, General Motors, service contract

October 4, 2018 - Industry News

F&I and Showroom Names 2018 F&I Pacesetters

The magazine reveals the names of the seven organizations vying to be crowned F&I Dealer of the Year, sponsored by American Financial & Automotive Services.

Tags: American Financial & Automotive Services, DOY Pacesetters, DOY Winners, F&I department, F&I products

October 8, 2018 - Industry News

Roadster Launches Desking Solution

Express Desking integrates directly into a dealership’s branded Express Storefront, and allows sales agents to instantly message their desk managers, gain approvals on deal terms, and customize payment menu options without ever having to leave the customer’s side.

Tags: digital, digital retailing, online F&I, Roadster, software

October 3, 2018 - Industry News

Edmunds: Auto Loan Interest Rates Climb Back to Pre-Recession Levels

With September in the books, Edmunds reported this week that interest rates have stayed above 5% for eight months in a row and now mirror levels not seen since before the Great Recession.

Tags: APR, Auto Loan Terms, Auto Loans, Edmunds, interest rates, new-vehicle financing

October 9, 2018 - Industry News

VisionMenu Becomes Vision Dealer Solutions

The software solution provider today announced its rebranding and the release of a new remote sales tool designed to handle an entire deal electronically.

Tags: digital, digital retailing, F&I menu, online F&I, VisionMenu

October 17, 2018 - Industry News

Equifax: Vehicle Sales Down, Borrowing Up

Car buyers were financing more at the midway point of 2018 than they did in 2016, when record new-vehicle sales were made, according to new data from Equifax.

September 19, 2018 - Industry News

FTC Shuts Down Websites Offering Fake Pay Stubs for Sale

The operators of websites that sold fake pay stubs and other financial documents have agreed to permanently shut down their business as part of separate settlements with the Federal Trade Commission, the regulator announced this week.

Tags: compliance, F&I office, Federal Trade Commission, fraud, pay stubs

October 9, 2018 - Industry News

Manheim to Invest $100 Million in Digital

Manheim announced an initiative to ramp up investments designed to deliver the ‘marketplace of the future’ for dealers and car buyers.

October 16, 2018 - Industry News

Assurant Launches Mechanic 2.0

Assurant Resource Automotive announced the launch of Mechanic 2.0, which features enhancements designed to significantly expand options for auto dealers and their sales and service customers.

October 17, 2018 - Industry News

EasyCare Launches New Suite of Rideshare F&I Benefits

EasyCare’s new Rideshare suite of F&I benefits includes a vehicle service contract, GAP coverage and a customizable prepaid maintenance benefit, all tailored to meet the needs of driver entrepreneurs.

October 1, 2018 - Industry News

Calif. Governor Vetoes Dealer Protection Bill

In an unexpected decision, California Gov. Jerry Brown vetoed a dealer protection bill unanimously passed by the California State Legislature. The sticking point was a 'complex formula' for determining dealer reimbursement on warranty and recall work.

Tags: California New Car Dealers Association, California State Legislature, Franchise Laws

October 9, 2018 - Industry News

RelayCars Launches Virtual Reality Sales Platform

RelayCars Pro includes a host of features to aid dealers and OEM product managers with the selling process, product design, training and more.

Tags: RelayCars, Showroom, Virtual Reality

September 27, 2018 - Industry News

Fed Reserve Approves Third Rate Hike of 2018

FOMC Chairman Powell answers reporters' questions during Wednesday's press conference.

The Federal Reserve on Wednesday raised interest rates for the third time this year and signaled it will raise the cost of borrowing again in December. Industry economists said it will not get better for consumers or the industry from here.

Tags: auto affordability, consumer confidence, Federal Reserve, interest rates, Monthly Payments, new-vehicle sales

October 1, 2018 - Industry News

Dealer Panels Set for Compliance Summit

The upcoming Compliance Summit will feature two panel discussions staffed by dealer counsel and personnel from around the nation.

October 9, 2018 - Industry News

Spireon Launches GoldStar Connect for BHPH

Spireon’s new mobile app was designed to create new mobile connections for the vehicle finance industry and extend the value of GPS to consumers.

October 15, 2018 - Industry News

Podium Named to Forbes’ Billion-Dollar Startups List

Podium is one of 25 companies to appear on Forbes’ 2018 list of America’s ‘Next Billion-Dollar Startups.’

October 9, 2018 - Industry News

Vero Launches Maintain, Key ID

Vero has released Maintain and Key ID, new technologies designed to enhance service retention and F&I remarketing.

October 1, 2018 - Industry News

Cox Automotive Acquires F&I Express

The unified companies will leverage a vast network of F&I product providers and new technology to innovate for dealers, agents, providers, and lenders.

Tags: Cox Automotive, Dealertrack, econtracting, erating, F&I Express, F&I products

October 4, 2018 - Industry News

NCM Acquires TSI Auto Solutions

NCM Associates has acquired Canada’s TSI Auto Solutions.

October 2, 2018 - Industry News

KBB: Average New-Car Transaction Price Up 2%

Honda, GM, and Ford were among the top-performing factories in September, helping to drive an average gain of 2% in new-vehicle prices compared with the same month last year.

October 15, 2018 - Industry News

Black Book Valuation Data Now Integrated With CDK’s Lightspeed EVO

The integration of Black Book’s data is expected to help Lightspeed EVO users realize stronger profit potential with a more precise valuation process for trade-in motorcycles and powersports vehicles.

Tags: Black Book, CDK Lightspeed, Vehicle Valuation

October 4, 2018 - Industry News

AUL Wins Two Stevie Awards

AUL Corp. won Gold and Bronze in the Employer of the Year category at the 2018 International Stevie Awards.

October 2, 2018 - Industry News

DealerSocket Reaches Major Milestone

The technology firm this week announced that more than 100 million vehicles have been sold through its software platforms since the company was founded out of the garage of co-founders Brad Perry and Jonathan Ord.

Tags: CRM, DealerFire, DealerSocket, digital, DMS, Inventory+, Precise Price, software

October 16, 2018 - Industry News

Drive Motors Adds Former Dealer.Com Exec to Leadership Team

Chris Gugliotta, a former executive with Dealer.com and Lithia Motors, has joined the startup as head of strategic partnerships. He will be responsible for leveraging Driver Motors’ digital retailing tools for the industry’s largest finance sources and vehicle OEMs.

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

October 16, 2018 - Industry News

Vision Dealer Solutions Releases VisionTouch

Vision Dealer Solutions has released VisionTouch, a new, wireless, mobile F&I menu designed to produce paperless deal jackets.