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April 30, 2015 - Industry News

Texas Dealers Could Face Fines Over CarGurus’ Business Practices

Dealers could face fines over CarGurus' advertising practices. At issue is the way the company lists used-car prices on its site, including projected savings below market value and price drops.

Last week, the Texas Department of Motor Vehicles Enforcement Division issued a cease-and-desist letter to CarGurus and the state’s dealer association, threatening dealers with fines up to $10,000 a day if the shopping site does not revise its advertising practices.

Tags: CarGurus, Deceptive Advertising, DMV, fine, Texas

June 13, 2017 - Industry News

F&I Trainer Shaka Dyson Bringing F&I 20 Group to F&I Think Tank 2017

F&I trainer Shaka Dyson is bringing his F&I 20 Group to Dallas for F&I Think Tank 2017. The ‘record-breaking’ F&I trainer will also participate in two panel discussions, including F&I Think Tank’s stump the pro-like Shark Tank.

Tags: F&I manager, F&I process, F&I Think Tank, F&I training, Industry Summit, Objection Handling

June 13, 2017 - Industry News

House Approves Dodd-Frank Replacement Bill

Four days after the U.S. House passed a bill aimed at reversing a number of Dodd-Frank financial regulations and scaling back the CFPB’s authority, the Treasury Department recommended that the bureau’s powers be reduced in a report containing more than 100 suggestions for financial reform.

Tags: auto finance, CFPB, compliance, Consumer FInancial Protection Bureau, dealer markups, dealer participation, Dodd-Frank Act

June 13, 2017 - Industry News

Dealers Vote F&I Express No. 1 in F&I Technology for Second Straight Year

F&I Express won its second consecutive Diamond award in the F&I Technology category in the 2017 Dealers’ Choice Awards.

June 20, 2017 - Industry News

S&P/Experian: Concerns About Subprime Auto Bubble ‘Seem to Be Behind Us’

Auto loan defaults fell to a 10-year low in May, squashing concerns about a forming subprime auto loan bubble. But not all consumer credit categories were a picture of health in May.

Tags: auto finance, default rates, F&I office

June 22, 2017 - Industry News

John 'The F&I Professor' Vecchioni to Emcee Industry Summit

American Financial’s John Vecchioni will return to Industry Summit as the event’s master of ceremonies.

Tags: American Financial & Automotive Services, F&I Think Tank, F&I training, Industry Summit, John Vecchioni

June 20, 2017 - Industry News

F&I Futurist Tony Dupaquier Joins F&I Think Tank Roster

The Academy’s Tony Dupaquier will serve as emcee of F&I Think Tank, organizers announced this week. The trainer and F&I futurist will be responsible for guiding the discussions during the F&I 20 Group-like event.

Tags: Dealer, digital retailing, F&I director, F&I manager, F&I process, F&I Think Tank, Industry Summit, Objection Handling, online F&I

June 5, 2017 - Industry News

Protective Earns Platinum in Dealers’ Choice Award

This year's honor marks four consecutive years the F&I product provider has earned Platinum in the Vehicle Service Contract category of Auto Dealer Today's Dealers' Choice Awards.

Tags: F&I manager, F&I office, F&I products, Protective Asset Protection Division

June 15, 2017 - Industry News

Fed Reserve Approves Second Rate Hike This Year

The Federal Open Market Committee approved a quarter-point hike in the federal funds rate. While auto loans aren’t expected to change much, the rate increase will cost credit card users roughly $1.5 billion in extra finance charges this year, according to one estimate.

June 15, 2017 - Industry News

ADESA Names New General Managers at Three Auction Locations

The KAR Auction Services business unit announced management changes at three of its 77 North American auction location. The company promoted leaders in Arizona, Tennessee, and Florida.

Tags: ADESA, Auto Auctions, Kar Auction Services, wholesale prices

June 15, 2017 - Industry News

Fletcher Jones Adds AutoGravity Inventory App

Auto Gravity and the Fletcher Jones Auto Group have launched ‘FJ Drive,’ a real-time smartphone inventory app.

June 21, 2017 - Industry News

Dealertrack to Open New Headquarters

Dealertrack’s new, LEED-specified building will house 600-plus employees and an enviable range of amenities designed to promote productivity, health and wellness.

June 6, 2017 - Industry News

JM Family Promotes Brown, Burns

Chief Executive Officer Colin Brown will add board chairman duties while Brent Burns takes on president and COO duties.

June 20, 2017 - Industry News

Loyalty to Sedans Remains Strong as SUVs Grow

Jumpstart’s latest report shows loyalty to sedans continues to grow despite exponential gains in all SUV segments.

June 8, 2017 - Industry News

F&I Think Tank Heads to Dallas With Arroyo at the Helm

F&I and Showroom’s Gregory Arroyo will chair the 20 Group-like event, which will close out Industry Summit 2017 on Sept. 14. This year’s theme: ‘Making F&I Great Again.’

Tags: Career Advice, F&I director, F&I manager, F&I process, F&I products, F&I Think Tank, F&I training, Industry Summit

June 14, 2017 - Industry News

Industry Summit, Best Training Day Ever Join Forces

The next edition of ‘The Best Training Day Ever’ will be held as part of Industry Summit in Dallas this fall.

June 19, 2017 - Industry News

In-Vehicle Tech: Demand Strong, Willingness to Pay Varies

A new survey from IHS Markit finds car buyers are intrigued by advanced in-vehicle technology, but their willingness to pay is limited to some telematics apps and creature comforts.

June 21, 2017 - Industry News

Van Over to Serve as Luncheon Speaker at Compliance Summit

Veteran trainer and compliance expert Gil Van Over will deliver a luncheon presentation dedicated to ‘Your Responsibilities’ at Dallas Compliance Summit in September.

June 22, 2017 - Industry News

SF Conference Returns to Industry Summit

Industry Summit will once again play host to the Special Finance Conference, the industry’s premier SF training event.

Tags: auto finance, Greg Goebel, Special Finance Conference, subprime, used-vehicle sales

June 26, 2017 - Industry News

CarMax Looks to Expand Digital Retailing Push

The pre-owned dealer group’s online prequalification portal played a key role in its captive finance company's 7% increase in first-quarter originations. The group is currently testing a home-delivery service as well as an online vehicle appraisal tool.

Tags: auto finance, CarMax, CarMax Auto Finance, digital retailing, online F&I

June 14, 2017 - Industry News

Harkins to Return as Compliance Summit Emcee

Robert Harkins of AGWS has signed on to once again serve as the event’s master of ceremonies.

June 7, 2017 - Industry News

Subprime Auto Originations Fall to 10-Year Low

Reflecting the shift toward more creditworthy borrowers was the rise in average credit scores for both new- and used-vehicle loans. But the retreat from the high-risk tiers also comes during a quarter in which the average new-vehicle finance amount and monthly payment reached record highs.

Tags: 30-day delinquency rate, auto finance, average term, deep subprime, Monthly Payments, subprime, Transaction Prices

June 19, 2017 - Industry News

J.D. Power: Wholesale Values Decline in May

J.D. Power Valuation Services’ seasonally adjusted used-vehicle price index managed to increase for the first time in a year. While positive, May’s index figure was 7.6% below May 2016.

Tags: J.D. Power, NADA Used Car Guide, used-vehicle values, Wholesale Pricing

June 28, 2017 - Industry News

Florida Law Addressing Factory Image Programs Takes Effect

Pictured is Florida Gov. Rick Scott.

Aside from entitling dealers to benefits and incentives tied to an OEM-ordered renovation for up to 10 years after construction is completed, the new law prohibits manufacturers from creating and enforcing performance standards that are unfair and don’t account for local and regional differences.

June 20, 2017 - Industry News

Swapalease: Lease Approval Rate Falls to Three-Year Low

Lease applicants registered a 48.1% approval rate, the lowest level since the car lease marketplace began tracking the stat in 2014. The firm explained that the rise in consumer interest for luxury SUVs is what’s driving the uptick in declines.

Tags: F&I process, lease, new-vehicle sales, Swapalease.com