Articles
Line 1 Is Not a Junk Drawer
Rolling products into the cash price — even if the bank told you to — misrepresents the vehicle’s value and runs afoul of four federal laws.
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SEARCHMENUSEARCHRolling products into the cash price — even if the bank told you to — misrepresents the vehicle’s value and runs afoul of four federal laws.
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Until last month, the CFPB was doing a lot more aiming than shooting. But its first enforcement action against an auto finance source and its partner company proves the agency isn’t firing blanks.
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In paying tribute to Rick Hackett, the CFPB’s parting assistant director, the magazine’s legal insider says the industry lost a key connection to its newest regulator.
Read More →Wholesale prices continued to return to normal levels in the first half, which Manheim attributed to an improving employment picture and rising new-vehicle sales.
Read More →Moody’s notes a gradual weakening of credit in its report on the subprime auto ABS market, but the credit rating agency believes private equity money flowing into the market could intensify competition and cause higher credit losses.
Read More →Franchised dealers are expected to realize a 3.35 percent increase in used-vehicle sales, while independents should be up 3.82 percent, CNW said today.
Read More →The deadline to submit a nomination for the 2013 F&I Dealer of the Year award is this Friday. The award will be handed out on Sept. 17 at Industry Summit 2013.
Read More →Thirty-five congressional republicans warn the bureau that reforms it seeks in the auto finance industry could weaken marketplace competition and hurt a consumer’s ability to obtain the best financing terms.
Read More →Dealership CEO indicted for allegedly evading reporting requirements for cash deposits. The 26-count indictment could lead to a maximum penalty that includes decades in prison, plus a fine and possible penalties for his company.
Read More →Boasko's Rt 4 Automall LLC and Buyers Choice Cars are facing lawsuits after the Attorney General paid out more than $56,000 from a Title Defect Rescission fund to resolve consumer complaints against the dealerships.
Read More →The deadline to submit entries for the 2013 F&Idol contest is this Friday, August 9. On the line is $3,500 in cash, as well as a trip to Industry Summit 2013.
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