Consumers paying more and more as interest rates stretch costs to new highs.
Report shows car loan amounts, down payments rising along with interest rates.
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.
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.
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.
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.
Using Element Payment Services, Dealertrack Technologies will seamlessly integrate electronic payment processing into Dealertrack DMS 2.0.
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.
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.
‘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.
media brand
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In