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Pa. Dealer Agrees to Pay $2.1 Million to End Prosecution Into Bank Fraud

According to the U.S. Attorney’s Office, Hallman Chevrolet falsified loan documents as well as costume jewelry brought in by customers as collateral for purported down payments over a six-year period beginning in 2009. The dealer, David Hallman, accepted responsibility for the scheme and agreed to pay a $1.4 million fine and more than $737,000 in restitution to end federal prosecution.

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Proper Deal Structure Moves Mountains

His Madness has a simple but powerful piece of advice for newbie F&I managers and those struggling to adapt to the way finance sources are rating credit-challenged car buyers.

Edmunds: Down Payments Reach Record Levels in May

Car buyers are putting down $504 more on a new-vehicle purchase than they did five years ago. But with buyers purchasing pricier cars and interest rates on the rise, something has to give, Edmunds.com analysis said.

(Video) Collapse. Create. Repeat.

An F&I manager says his customers' buying and ownership habits are making it difficult to sell GAP and service contracts. The magazine's resident F&I pro has the answer.

Dealertrack Partners With Element Payment Services

Using Element Payment Services, Dealertrack Technologies will seamlessly integrate electronic payment processing into Dealertrack DMS 2.0.

Pa. Dealer Faces Fraud Charges

The Pennsylvania owner of Auto Exchange USA is being charged with fraud, theft and impersonating a Notary. Authorities said he pocketed down payments and didn’t pay off existing loans for customers after agreeing to do so.

[Video] Tip of the Week: The Rate Question

Before you cut that rate to satisfy your customer's request for a lower payment, check out this tip from United Development Systems’ Gerry Gould.

Beware False Prophets of Profit

‘Da Man’ says it’s time for dealers to stop believing in the flawed logic that says it’s impossible to make a profit in today’s Internet age.

To Charge or Not to Charge

Can you charge a customer’s down payment to a credit card? The magazine’s legal wiz says the answer has more to do with economics than the law of the land.

Edmunds.com Unveils Four-Square Calculator for Car Buyers

Edmunds.com has released an online tool to help consumers determine the expected price – and boost their bargaining position – on a new-car purchase.