
Report Uncovers $4.7B Opportunity for Auto Dealers
Solving mismatched payment quotes can boost sales, profits
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Solving mismatched payment quotes can boost sales, profits
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It was the second consecutive month that Manheim Used Vehicle Value Index reached a record high. Officials said strong retail demand for recent model-year used vehicles is encouraging dealers to buy more vehicles at auction, and the increased demand is more than offsetting the high supply.
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The new rule is set to take effect 60 days after publication in the Federal Register. It comes more than two years after the bureau studied mandatory arbitration clauses and one year after it proposed to ban such clauses in consumer finance contracts.
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Electronic processes won’t cure the ‘kinks’ who flout the rules and regulations governing F&I, but they will make their bad behavior easier to track.
Read More →The magazine’s legal wiz reminds dealers and F&I pros why it’s wise to assume every customer knows the bad compliance practices you should have outlawed years ago.
Read More →Attorney, compliance expert and former regulator Terry O’Loughlin will deliver a featured presentation devoted to Rules and Regulations at the upcoming Dallas Compliance Summit.
Read More →Attorney, compliance expert and former regulator Terry O’Loughlin will deliver the opening luncheon keynote address to attendees of Compliance Summit, Lender Summit and the P&A Leadership Summit.
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The magazine has extended the nomination period for its 2017 F&I Dealer of the Year contest to July 21. Dealership employees, general agents, vendors, finance sources, and F&I product providers are encouraged to nominate their stores and dealer clients.
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At a record 69.3 months, average new-vehicle finance terms have stretched 6.8% from five years ago. The average amount financed and average monthly payment also registered new highs.
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With its announced investment, Volkswagen’s captive finance company joins the automotive fintech firm’s mobile car shopping and financing platform. VW Credit also launched its own AutoGravity-powered smartphone app.
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The nation’s 9,600 international nameplate franchises registered their fourth straight sales decline in June, but the association representing them said dealers are feeling confident about the second half of 2017.
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