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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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Thirteen finance sources representing a third of U.S. auto finance originations met last week to take a bite out of the estimated $6 billion in annual fraud losses.
Read More →EFG Companies earned a Gold and two Bronzes in the 15th annual ABAs, as well as ‘Top Contact Center’ honors from BenchmarkPortal.
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The index's April reading was 124.7, a year-over-year improvement thanks to the 0.5% increase in wholesale used-vehicle prices. Manheim officials said any weakness is more a result of excessive new-vehicle inventory, with more than four million new units sitting on dealer lots for the last three months.
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Things haven’t gone according to script in the used-vehicle market, but GWC Warranty’s Mike Melby believes the profit potential in the high-mileage, pre-owned space remains.
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F&I director advises dealership professionals to attack your work with a positive attitude and pledge to improve the workdays of those around you.
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Sonic's F&I operations posted a record per-copy average of $1,370. But with new-vehicle retail volume down 2%, total same-store F&I gross profit remained flat with a year ago. Officials also talked expansion of the EchoPark platform and the expected roll out of an ecommerce site next year.
Read More →Describing F&I as 'very fundamental' to its success, Asbury CEO Craig Monaghan said the group will continue to push for improvements in that area as long as 'margin pressure' continues to squeeze the showroom.
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F&I trainer says meeting the demand for daily improvement requires F&I professionals to create and capitalize on their own momentum. He lists 10 momentum-building books every F&I manager must read.
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Not even another strong performance in U.S. new-vehicle margins, a record quarter in the group's U.K. market, and a profitable quarter in Brazil were enough to offset "extreme weakness" in Group 1's energy price-impacted markets.
Read More →For the first time in more than two years, Black Book’s Used Vehicle Retention Index registered a slight increase.
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