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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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Sonic officials said last week the group will begin piloting its new customer experience initiative at a Charlotte, N.C., store this July. The new process promises to deliver a ‘one associate at one price in one hour’ buying experience.
Read More →Despite its Northeast and Central Midwest dealerships losing approximately 280 selling days due to harsh weather, Penske Automotive reported last week that it achieved a 15.4% increase in income from continuing operations.
Read More →Industry Summit 2014 will feature multiple education sessions dedicated to special finance and used-car retailing. Serving as master of ceremonies for those two tracks will be special finance guru Greg Goebel.
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Chicago-based BMO Harris Bank issued a notice to its dealer customers this week, stating that it has eliminated dealer markups on indirect auto loans. The policy went into effect Thursday.
Read More →With subprime auto lending volumes having more than doubled since the 2009 financial crisis, Moody’s expects to see higher credit losses, which have been gradual so far.
Read More →Fourteen credit unions across the country are participating in a product incubator for Non-Prime Auto Loans, one of five products in the Filene Research Institute’s accessible financial services incubator funded by the Ford Foundation.
Read More →The group reported during it quarterly conference call that earnings per share were up 34% from the year-ago quarter, an all-time record for the group. On the same day, Executive Vice President and COO Michael Kearney announced his retirement.
Read More →F&I gross profit per vehicle retailed reached a record $1,407 for the nation’s largest dealer group, but the achievement was overshadowed by the warning executives issued to lead providers.
Read More →The bank's director of national sales and originations will open Industry Summit 2014 with a keynote address on Monday, Sept. 8, at Paris Las Vegas.
Read More →Incentive growth was at its lowest point in March since last September, but the NADA Used Car Guide noted that the automakers that decreased spending were the ones that scored sales increases for the month.
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