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Articles

Curb The Confusion

Talk to F&I customers like you’d talk to a friend, without industry lingo or sales-like questions, and use hard proof to show, not tell, them about a need.

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NewsMay 12, 2016

GM Replacing 88% of Lineup By 2020

General Motors should gain market share by replacing 88% of its light-duty lineup by 2020, while Volkswagen and Korean automakers are relying too heavily on cars with consumer demand shifting toward SUVs and trucks, a Bank of America Merrill Lynch analyst has said.

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NewsMay 12, 2016

Cox Expands Manheim Into Quebec City

Cox Automotive announced this week that it has expanded Manheim into Quebec City. According to the company, this marks the second auction in the province of Quebec, following Manheim Montreal’s success.

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Newsby Gregory ArroyoMay 12, 2016

GO Financial Exits Indirect Channel

The subprime finance source’s president says the company’s decision to exit the indirect channel was neither performance-based nor a reflection of current conditions in the subprime auto finance sector. Move connected to Cox's purchase of Dealertrack.

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NewsMay 11, 2016

U.S. Treasury Issues White Paper on Online Marketplace Lending

On Tuesday, the U.S. Treasury issued a white paper on online marketplace lending. It includes a handful of recommendations to encourage safe growth of the segment and access to credit, including a call for more regulatory oversight.

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NewsMay 11, 2016

Q1 2016 Delinquency Rates Reach New Highs, TransUnion Reports

High delinquency rates for auto loans and credit cards in the first quarter pushed national average delinquency rates to levels not seen in at least three years, according to TransUnion. Much of the increase can be attributed to the continued slump in oil prices and an increase in loans made to customers with nonprime credit.

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NewsMay 10, 2016

National Auto Care Wins Top Workplace Award

The F&I product provider made Columbus CEO magazine’s 2016 Top Workplaces list, which is based on results of an employee feedback survey administered by WorkplaceDynamics LLC.

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NewsMay 10, 2016

EasyCare Adds Steve Richards to Leadership Team

The former managing partner of RedZone Sales Strategies, an automotive consulting and training firm, will serve as national director of EasyCare’s MOTOR TREND Certified Program.

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Newsby Gregory ArroyoMay 10, 2016

CFPB Issues Proposal to End Forced Arbitration

At its May 5 field hearing in Albuquerque, N.M., the CFPB issued its proposal to ban mandatory arbitration clauses in finance contracts. Financial services providers will still be able to include arbitration clauses in finance contracts; they just can’t use the agreements to stop consumers from being part of a class action in court.

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NewsMay 9, 2016

Georgia Dealer, State Employee Arrested for Odometer Fraud

The dealer and state employee were charged with devising a scheme to buy high-mileage vehicles in nearby states, roll back their odometers, and then resell them in Georgia. They now face up to 10 years in prison if convicted.

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NewsMay 9, 2016

Dent Zone Forms New Product Division

Dent Zone’s AutoBodyguard will offer interior and exterior protection products, as well as tire-and-wheel protection, windshield, automobile deductible reimbursement and paintless dent repair. Serving as president is 40-year industry veteran John Martin.

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