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A wholly owned subsidiary of Exeter Finance has completed the renewal and extension of its warehouse funding facility, which was increased to $1.65 billion.
Read More →AutoLoop has added a feature to its Essentials platform called Instant Online Leads, alerting sales personnel when a prospective car buyer is requesting more information on a dealer’s website.
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Brian Feldman joins Spencer Re as executive vice president to manage the firm’s automotive F&I business
Read More →When a potential customer calls a dealership, that call goes unanswered one out of six times, according to data from mobile advertising technology company Marchex Inc.
Read More →General Motors has announced a strategic realignment that will establish Cadillac as a separate business unit. In addition, the new Cadillac organization will expand to New York with a new global headquarters opening in 2015.
Read More →TrueCar adds four new members to its National Dealer Council, a 20-member advisory panel of automotive retailing experts. With the new additions, the council now represents all major automakers.
Read More →The CFPB has proposed a new rule to oversee larger nonbank auto finance companies for the first time at the federal level. The compliance firm suggests that this could significantly affect compensation policies in dealerships.
Read More →The web application helps dealership employees easily snap and share customer photos via email at vehicle delivery. Officials with DealerRater said the app can increase the likelihood of customers leaving a review by 50%.
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Following an announcement that it would seek supervisory authority over 38 nonbank auto finance companies, the CFPB held a field hearing on the topic in Indiana this morning.
Read More →Strong consumer borrowing fuels rise in lease applicants in August, with approvals reaching 85.7% — besting July’s previous 2014 high of 81%.
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