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Interest Rates Further Squeeze Auto Consumers
Last month’s hike and a potential second increase this month add to a growing list of inflation woes that could continue to dent overall car sales.
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F&I Showroom Magazine
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SEARCHMENUSEARCHLast month’s hike and a potential second increase this month add to a growing list of inflation woes that could continue to dent overall car sales.
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Reynolds and Reynolds has completed its acquisition of Wolters Kluwer’s indirect loan origination solutions for around $36 million in cash. As part of the acquisition, Reynolds gets Wolters Kluwer’s AppOne software, risk mitigation services and bankers systems.
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Last year, the three-month promotion resulted in 58,000 vehicle sold, a 34% increase from the year prior. According to Costco officials, more than half of the people who purchased vehicles during the 2015 event said they switched to a General Motors brand because of the promotion.
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Ron Frey, former chief strategy officer and president of AutoNation Direct, has joined CU Direct as chief strategy officer of its automotive solutions. He will oversee the planning and direction of automotive solutions for the credit union technology provider.
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AutoGravity, a new car-shopping app that allows car shoppers to arrange their financing, has added Mercedes-Benz Financial Services. The partnership gives AutoGravity users access to the captive's loan and lease offers.
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F&I trainer makes the case for digital F&I. He offers a five-step process for adding information about products, pricing, and your finance team to your dealership’s website.
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The auto finance industry continued to quell the subprime bubble talk, with finance sources extending credit to five times more superprime car buyers than deep subprime shoppers.
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Tech vendors believe the industry needs to respond to customer dissatisfaction with the F&I process, but not everyone believes moving the process online is the answer.
Read More →Last week, cars showed better retention that they did the previous four weeks, while trucks depreciated more than they have during that same timeframe, Black Book reported today.
Read More →Jeff York, the previous general manager of ADESA Sarasota, will now lead ADESA Orlando as general manager. Curt Farris, the previous general manager of ADESA Tampa, will now hold the same title at ADESA Sarasota, and Lisa O’Neil, who was previously the assistant general manager at ADESA Atlanta, will now serve as general manager at ADESA Tampa.
Read More →Chase Auto Direct, which is being powered by TrueCar, will allow current Chase customers to shop for a new vehicle and secure financing on a desktop computer or smartphone. The portal will then connect shoppers to a dealership in the Chase dealer network.
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