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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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Lithia’s F&I operations grew its per-copy average by $52. The performance helped offset a $90 drop in new-vehicle gross profit per unit.
Read More →A new study from Cox Automotive company MakeMyDeal found that 63% of consumers would be more likely to buy F&I products if they could learn about them on their own time before entering a dealership.
Read More →For the first time, the public dealer group’s F&I profit per deal average surpassed the $1,500 mark. Officials said the company will continue to emphasize F&I product sales as it preps for the launch of an AutoNation-branded maintenance contract later this year.
Read More →The tablet-driven, fixed-price F&I process at Asbury’s Q Auto stores didn’t perform as well as the traditional F&I process employed at the group's core stores, but officials said they are happy with the new format’s progress.
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Security National Automotive Acceptance Company has added three senior-level leaders and five new team members.
Read More →The country’s largest auto lender, Wells Fargo, tempered its auto lending activities in 2015’s first quarter, with new originations down 10% from the previous year. Also reporting was J.P. Morgan Chase, which increased originations by 9%.
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Black Book has selected Barrett Teague to serve as vice president of its Lender Solutions business.
Read More →Depreciation patterns are on a different trajectory than 2014, according to Black Book. The firm reported a 0.7% decrease in value for 2009-2013 model-year vehicles.
Read More →Larger cars were more in demand this tax season, potentially as a result of low gas prices and improved overall strength in the broader economy.
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The NIADA, its newly-formed BHPH Commission and Oregon’s independent dealer association are tackling legislation the industry believes could damage the ability of high-risk consumers to purchase cars in the state.
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