Honcker’s Nathan Hecht took his dislike of the typical leasing process and turned it into a mobile app that’s delivering ready-to-go deals to dealers in eight states and an experience studies show customers want — even when it comes to F&I.
Roadster’s Andrew Moss and Rudi Thun say they’ve created a digital transactional platform that works both in a buyer’s home and in the showroom. But as they readily admit, not every dealer is the ideal user.
Sun Toyota’s John Marazzi was already an internet sales evangelist before launching a fully online process in September 2016. In its first month alone, the program delivered 75 closed deals and an F&I per-copy average that was just $45 shy of the in-store average.
Panelists and presenters at Industry Summit 2015 tackled online automotive retailing and what it means to move F&I out of the box and into the Digital Age.
Studies show that change is coming to the finance department, and dealerships like Northwest Honda and Southern Chrysler-Jeep are making sure their F&I offices are ahead of the digital curve.
Mansfield Auto World employees were stunned when a seemingly normal online transaction nearly turned into an international crime. Authorities say the dealership was the victim of a troubling new trend in auto theft.
CFPB Director Richard Cordray was met with hostility on Tuesday during the bureau’s semi-annual report to Congress. The hearing took place a day before a House committee passed two CFPB reform bills.
The CFPB and DOJ announced two actions against Fifth Third Bank on Monday, one of which requires the finance source to pay $18 million in restitution to minority auto loan borrowers, as well as limit its dealer partners’ ability to markup interest rates on auto loans.
A woman who says she was duped into purchasing “void and worthless” GAP coverage has filed a class action suit against the finance source on behalf of Illinois customers who have signed similar contracts.
Citing the doctrine of joint venture, the Colorado Court of Appeals ruled last week that a dealership will be held liable for damages caused by a customer during a test drive.