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Credit card down payments, multiple vehicle purchases and even straw purchases can be completed without committing bank fraud, as long as you tell the bank first.
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Asbury Automotive executives were confident that the dealer group’s internal caps on dealer markup and its fixed F&I product prices will keep it safe from any actions by regulators.
Read More →The group’s chief executive reiterated his support for Honda Financial’s new dealer markup caps. He said the policy should serve as a template for the rest of the auto finance industry.
Read More →GM Financial's transformation from subprime finance source to GM's captive finance company continued in the second quarter, with GM new-vehicle loans and leases accounting for 83.5% of total originations during the period.
Read More →Westlake Financial Services was recognized by Equifax as the national auto lender whose subprime customers have seen the highest credit score increase over the term of their loan.
Read More →Ally Financial has renewed its exclusive sponsorship of the TIME Dealer of the Year program through 2021. Nominations for the 2016 program are now open.
Read More →Today, the Defense Department issued a final rule that expands the types of credit products covered by the 36% rate cap and other military-specific protections under the Military Lending Act.
Read More →For the third straight year, GSFS Group was selected by readers of Auto Dealer Monthly as one of the best reinsurance product providers.
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Former TrueCar executive Ken Potter has joined The Appraisal Lane, a new used-car trade network and communications platform being rolled out to dealers in select markets.
Read More →Sonic executives said the company is delaying plans to launch a captive finance company in light of the CFPB’s recent settlement with Honda Finance. But the group has given the go-ahead for the first phase of its much-delayed hybrid sales process.
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The dealer group sold 6,500 vehicles in 54 days as part of its 18th annual Sheehy 6000 sales event, raising more than $200,000 to benefit the American Heart Association.
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