Brittany-Marie Swanson
Associate Editor
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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.
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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.
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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.
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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.
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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.
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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.
Read More →CFPB Director Richard Cordray was met with hostility on Tuesday during the bureau’s semi-annual report to Congress. The hearing took place a day before a House committee passed two CFPB reform bills.
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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.
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A woman who says she was duped into purchasing “void and worthless” GAP coverage has filed a class action suit against the finance source on behalf of Illinois customers who have signed similar contracts.
Read More →Citing the doctrine of joint venture, the Colorado Court of Appeals ruled last week that a dealership will be held liable for damages caused by a customer during a test drive.
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