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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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Listen to what four finance executive said about today's credit crunch, and learn about new tools hitting the market aimed at helping lenders evaluate risk. For dealers, the lenders who've been successful in subprime will continue to offer products and accept paper, say experts.
Read More →Making more finance reserve does not necessarily mean more F&I profit. Dealership consultant discusses what top-performing F&I departments do, and how they maximize PRU by setting interest rates during the F&I process.
Read More →The Consumer Bankers Association's annual study revealed signs of the housing market's spillover. Find out what those signs were, and why dealer reserve is expected to take a hit in 2008.
Read More →Opinions vary on when and how rate and payment should be quoted to customers. Dealership consultant reveals which practices work best and which don’t.
Read More →With adjustable-rate mortgages expected to reset in the near future, lawmakers are considering several different proposals that would bailout distressed consumers. Finance institutions say any knee-jerk reaction to today’s credit crunch could cause more harm than good, especially for those operating in what remains a very healthy automotive finance industry.
Read More →Moving vehicles is still the name of the game, but executives from Chrysler Financial, Ford Motor Credit, GMAC and Toyota Financial Services told attendees at the magazine’s annual conference that customer retention is the main focus moving forward. Find out what else has changed, how the Internet is impacting the business, and get their take on the subprime mortgage debacle.
Read More →When it comes to identifying that nonprime customer, every second counts. F&I provider lays out a roadmap for those credit-challenged customers.
Read More →Nonprime players need to take maximum advantage of their core competencies and unique market characteristics, as well as evaluate and adopt leading practices and supporting technologies consistent with their business strategy.
Read More →Delinquencies and defaults haven’t revealed any signs of trouble, yet automotive finance industry is dealing with the fallout from the subprime mortgage market. Finance expert gives his take on what’s really going on out there.
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