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Tap to Lease

Tap to Lease

Honcker’s Nathan Hecht took his dislike of the typical leasing process and turned it into a mobile app that’s delivering ready-to-go deals to dealers in eight states and an experience studies show customers want — even when it comes to F&I.

December 4, 2017

New-Age Sales

New-Age Sales

Roadster’s Andrew Moss and Rudi Thun say they’ve created a digital transactional platform that works both in a buyer’s home and in the showroom. But as they readily admit, not every dealer is the ideal user.

April 10, 2017

F&I to Go

F&I to Go

Sun Toyota’s John Marazzi was already an internet sales evangelist before launching a fully online process in September 2016. In its first month alone, the program delivered 75 closed deals and an F&I per-copy average that was just $45 shy of the in-store average.

February 10, 2017

Out of the Box

Out of the Box

Panelists and presenters at Industry Summit 2015 tackled online automotive retailing and what it means to move F&I out of the box and into the Digital Age.

December 9, 2015

Agents of Change

Agents of Change

Studies show that change is coming to the finance department, and dealerships like Northwest Honda and Southern Chrysler-Jeep are making sure their F&I offices are ahead of the digital curve.

November 25, 2015

Fraud Alert

Fraud Alert

Mansfield Auto World employees were stunned when a seemingly normal online transaction nearly turned into an international crime. Authorities say the dealership was the victim of a troubling new trend in auto theft.

November 25, 2015

Fifth Third Bank to Cap Dealer Markups

Fifth Third Bank to Cap Dealer Markups

The CFPB and DOJ announced two actions against Fifth Third Bank on Monday, one of which requires the finance source to pay $18 million in restitution to minority auto loan borrowers, as well as limit its dealer partners’ ability to markup interest rates on auto loans.

September 29, 2015

Santander Faces Class-Action Over ‘Worthless’ GAP Coverage
Let’s Ask Joe

Let’s Ask Joe

Joe St. John may be the newest F&I trainer at Industry Summit, but he has a long history in the car business and some strong opinions about the future of the F&I office.

August 28, 2015

Price Point

Price Point

The New York attorney general’s crackdown on an F&I product provider and the dealerships that sold its credit repair services comes at a time when federal regulators are expected to tighten the screws on add-on sales.

August 5, 2015

Sonic Cautious About CFPB, But Revs Up Hybrid F&I Push

Sonic executives said the company is delaying plans to launch a captive finance company in light of the CFPB’s recent settlement with Honda Finance. But the group has given the go-ahead for the first phase of its much-delayed hybrid sales process.

July 21, 2015

CFPB, DOJ Reach $24M Settlement With Honda Finance

CFPB, DOJ Reach $24M Settlement With Honda Finance

Just two weeks after American Banker reported that the CFPB was planning to cite three captive auto finance companies for policies that allegedly caused minority car buyers to pay higher rates for auto loans, the bureau and the Department of Justice have announced a settlement with Honda Finance Corp.

July 14, 2015

N.Y. AG Goes After Dealer for Payment Packing

After three months with no response, Attorney General Eric T. Schneiderman has filed a motion to force a New York dealer group to comply with a subpoena issued by the AG’s office in March. The dealer group is accused of “jamming” credit repair contracts into vehicle sales and leases.

June 9, 2015