Ford Credit, Plaintiffs Reach Stalemate in Discrimination Case
Ford Motor Credit Corp. and some minority customers involved in a lawsuit against the finance company announced they have been unable to devise a lending policy that satisfies both sides, reported the Nashville City Paper in Tennessee.
Ford Motor Credit Corp. and some minority customers involved in a lawsuit against the finance company announced they have been unable to devise a lending policy that satisfies both sides, reported the Nashville City Paper in Tennessee.
In March, U.S. District Judge Aleta Trauger said she was prepared to issue an injunction against Ford Motor Credit but gave both sides the opportunity to reach a resolution out of court. Attorneys for Ford and the plaintiffs filed papers notifying the court of the stalemate.
The judge is expected to hold a status conference outlining the next steps in the case.
Trauger’s ruling would be the first in a series of discrimination lawsuits that have challenged the auto finance industry’s 80-year-old markup practice. Other finance companies, such as those run by Nissan and General Motors, have settled out of court by reducing the markups they allow.
More F&I
How AI-Powered Coaching Is Transforming F&I Performance
See how AI-powered coaching can turn F&I customer conversations into actionable insights that support compliance, performance and profitability
Read More →
Sell Value, Build Trust
In this video, Trent White explains why selling on value, not fear, builds lasting customer trust, reduces cancellations, and drives long-term success.
Read More →
F&I Sales Give Dealers First-Half Lift
Product business shored up total profits to avoid an overall revenue tanking as product penetrations held steady, StoneEagle reported.
Read More →
Targeted Training Drives Results
Today’s technology, instead of threatening F&I managers, can actually make them better, according to an industry veteran who’s watched market setbacks roil the unprepared.
Read More →
Double the Change, Double the Chance
When an F&I manager gets a customer refusal, it’s a wise move to tweak more than one thing in the product offering.
Read More →
Just Do It
F&I managers need training, but instead of resisting application or expecting perfection, they should improve by simply acting on what they learn.
Read More →
Dealer Lender Preferences Revealed
When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.
Read More →
Leading with Purpose
In this video, Trent White explains how understanding your people’s 'why' is a key leadership responsibility of F&I professionals and how that mindset drives dealership engagement, trust and performance.
Read More →
Integrating Nontraditional F&I Products
The niche presents a strategic advantage for auto dealerships as they move to adapt to fast-changing consumer expectations in today’s market.
Read More →
Trust Is Personal
Technology, no matter how efficient, can’t replace what the human F&I manager can do, which is to bridge the divide between cyberspace and the in-store experience.
Read More →