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Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
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Legislation regulating the influence captive finance sources have on F&I product sales has popped up around the nation this year, but the industry disagrees on what is driving these state-by-state battles.
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Automotive Compliance Consultants warned dealers this week to review their arbitration clauses in their finance contracts. The firm says such language is coming under scrutiny from courts and regulators.
Read More →Sixty-six percent of dealers who were surveyed indicated that they are willing to pay as much as an additional 0.50 to 0.60 basis points on their loan terms to receive good service from their lenders.
Read More →The dealer group reported a 21% increase from last year’s adjusted income from continuing operations, as well as a 12% increase in total gross profit.
Read More →The dealer group’s U.S. F&I operations raised its per-copy average $91 to $1,442 in the second quarter. On a year-to-date basis, the group's per-copy average rose $128 from a year ago to $1,499.
Read More →AutoNation reported during its second-quarter investor call that it has installed the NADA’s Fair Credit Compliance Program in nine stores. Officials also provided an update on the company’s digital push.
Read More →The dealer group realized a 28% increase in adjusted net income from continuing operations in the second quarter of 2014. The company’s average F&I profit per vehicle retailed was also up $104.
Read More →The total balance of auto loans reached a record high in the first half of 2014, with auto loans accounting for more than 50% of all non-mortgage lending through April.
Read More →The finance source has expanded its dealer services business with the addition of three new sales officers.
Read More →Depreciation rates on used vehicles are nearing levels not seen since the recession, but the trend is expected to reverse, leading to marginally higher losses for U.S. auto ABS, according to a new joint report from Black Book and Fitch Ratings.
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