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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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Four providers of biweekly payment providers responded on May 20 to a memo the NADA issued to its members on May 8. They say the association overlooked key benefits when it cautioned dealers about how such products are presented to consumers.
Read More →A memo released by the NADA this week states that the CFPB’s proposed method for eliminating fair lending risk in the auto lending arena would do no such thing. Instead, dealers would still have discretion when it comes to selecting a finance source for their customers.
Read More →Last week, TrueCar announced the pricing of its initial public offering of 7,775,000 shares of its common stock at a price to the public of $9 per share.
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Dealertrack officials reported this week that average monthly subscription revenues from dealers were up 30% in the first quarter, thanks in part to the company’s recent acquisition of Dealer.com. Company officials also revealed plans to combine Dealer.com’s CRM capabilities with Dealertrack's own offering to produce a single solution.
Read More →The NADA Used Car Guide reported this week that wholesale activity steadily returned to normal in April after being impacted by winter storms for much of the first quarter.
Read More →Through this relationship, Equifax will provide NIADA-member dealers access to tools and information to help them deliver vehicles.
Read More →Credit unions using GrooveCar will now receive credit applications in their AppTrac system through Dealertrack’s credit application network. Participating credit unions will also be able to send loan decisions back to dealers through the network.
Read More →General Motors’ captive finance company revealed during its quarterly investor call that it began piloting a prime finance product in the first quarter. The firm’s chief executive also noted that market competition is beginning to stabilize.
Read More →Like other public groups, Group 1’s business was hampered in the first quarter by extreme weather conditions, losing about 9% of its total available selling days through Feb. 16. Luckily, March turned out to be a strong sales month for the group.
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F&I managers can’t sell to customers they don’t see. The father of the F&I menu provides an action plan for convincing management that every customer must visit the F&I office at the time of sale.
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