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September 6, 2018 - Industry News

Pa. Dealer Agrees to Pay $2.1 Million to End Prosecution Into Bank Fraud

According to the U.S. Attorney’s Office, Hallman Chevrolet falsified loan documents as well as costume jewelry brought in by customers as collateral for purported down payments over a six-year period beginning in 2009. The dealer, David Hallman, accepted responsibility for the scheme and agreed to pay a $1.4 million fine and more than $737,000 in restitution to end federal prosecution.

Tags: bank fraud, compliance, down payment, Hallman Chevrolet, U.S. Attorney's Office

June 5, 2017 - Industry News

Edmunds: Down Payments Reach Record Levels in May

Car buyers are putting down $504 more on a new-vehicle purchase than they did five years ago. But with buyers purchasing pricier cars and interest rates on the rise, something has to give, Edmunds.com analysis said.

Tags: auto finance, down payment, Edmunds, interest rates

July 30, 2014 - Industry News

Dealertrack Partners With Element Payment Services

Using Element Payment Services, Dealertrack Technologies will seamlessly integrate electronic payment processing into Dealertrack DMS 2.0.

Tags: down payment, PERSONAL IDENTIFICATION INFORMATION, technology

February 19, 2013 - Industry News

Pa. Dealer Faces Fraud Charges

The Pennsylvania owner of Auto Exchange USA is being charged with fraud, theft and impersonating a Notary. Authorities said he pocketed down payments and didn’t pay off existing loans for customers after agreeing to do so.

Tags: Auto Exchange USA, dealer, down payment, fraud, Pennsylvania, U.S. Department of Transportation

April 17, 2012 - Industry News

[Video] Tip of the Week: The Rate Question

Before you cut that rate to satisfy your customer's request for a lower payment, check out this tip from United Development Systems’ Gerry Gould.

Tags: down payment, Gerry Gould, Lowering Rate, Tip of the Week, United Development Systems

May 24, 2011 - Industry News

Edmunds.com Unveils Four-Square Calculator for Car Buyers

Edmunds.com has released an online tool to help consumers determine the expected price – and boost their bargaining position – on a new-car purchase.

Tags: average term, down payment, Edmunds.com, interest rates, trade-in value

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