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Smaller Loans, Longer Terms
The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
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SEARCHMENUSEARCHThe youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
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The bureau concedes in its report that consumers are financing larger amounts and are electing for longer-term loans to keep monthly payments affordable. However, the regulator also notes that longer-term loans aren't having the desired effect in terms of default rates.
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Cynthia Bodden has been promoted to the position of area vice president of sales for the Mid-Atlantic region by GWC Warranty.
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Family-owned and -operated since World War II, Puente Hills (Calif.) Chevrolet changes hands with the retirement of co-owners Tom Hoffman and Gary Campbell.
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‘Fix Your Phones & Boost Profit in Your Service Department’ makes a compelling case for addressing and improving the way customers communicate with your dealership’s service department.
Read More →Total revenue and gross profit were down 5% and 2% from a year ago, respectively, with Hurricane Irma having a significant impact on sales in the group’s core Florida and Georgia markets. F&I was a bright spot, with total gross profit up 4% and the group’s per-copy average increasing by $142 from a year ago to $1,547.
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The partnership allows the dealership’s customers to work out while their cars are being serviced. It adds to a long list of benefits Boston Volvo currently offers, including 40 courtesy loaner vehicles, daily shuttles to Boston and Cambridge and complimentary Uber transportation.
Read More →A new integration promises new options and an expansion of services for both companies and their clients, including auto dealers and auto finance companies.
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The vice president cast his tiebreaking vote late Tuesday night. The measure now heads to President Trump's desk, where it is likely to be signed. Once it does, not only will the CFPB's arbitration rule be invalidated, the bureau won't be allowed to issue a similar rule unless authorized to do so in a subsequent law.
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A new survey from Roadster shows that when it comes to millennials, the car business ranks just behind 'politician' and 'tax collector' as occupations they'd like to avoid.
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The National Consumer Law Center is calling on lawmakers and regulators to investigate how dealers price F&I protections, claiming that an analysis of approximately 1.8 million vehicle transactions revealed inconsistent and discriminatory price markups over a span of six years.
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