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Report Uncovers $4.7B Opportunity for Auto Dealers
Solving mismatched payment quotes can boost sales, profits
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Read More →RoadVantage won the first-place Diamond award in the F&I Product category in the 2017 Dealers’ Choice Awards.
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F&I and Showroom’s Gregory Arroyo will chair the 20 Group-like event, which will close out Industry Summit 2017 on Sept. 14. This year’s theme: ‘Making F&I Great Again.’
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Reflecting the shift toward more creditworthy borrowers was the rise in average credit scores for both new- and used-vehicle loans. But the retreat from the high-risk tiers also comes during a quarter in which the average new-vehicle finance amount and monthly payment reached record highs.
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UDS’s Brian Crisorio and Auto Dealer Today’s Tariq Kamal will serve as co-show chairs for this year’s Compliance Summit.
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With wholesale used-vehicle prices rising in May, the Manheim Used Vehicle Value Index rose to a record 127.9. The firm noted that dealers purchased the most vehicles at Manheim auctions for the month of May since 2008.
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With banks retreating from all risk tiers, an executive with CU Direct Lending said the auto finance market is primed for credit unions to pick up more share. In the first quarter, credit unions grew their share of the market by 4%.
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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.
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Despite slowing auto sales and a slight dip in blue sky values, dealership buy/sell activity remained robust in the first quarter, according to the buy/sell advisory firm’s The Blue Sky Report.
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AutoNation named Lance Iserman executive vice president of sales and COO. The more than 15-year company veteran replaces William “Bill” Berman, who resigned last month.
Read More →AutoGravity’s mobile financing app is now available in New Jersey. According to company officials, the app has been downloaded more than 400,000 times since its introduction last summer.
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