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Synthetic identity fraud is incredibly costly and difficult to detect. Expert explains why your dealership is at risk and why a multilayered defense works best.
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A number of U.S. auto dealers and dealership sales and F&I personnel were the victims or alleged perpetrators in several major fraud cases this year.
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A Florida Highway Patrol investigation led to the arrests of husband and wife dealers accused of submitting at least 35 phantom RISCs for purchase by an auto finance company.
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The federal spending bill being negotiated by House and Senate leaders is not likely to include an extension of the $7,500 tax credit for buyers of electric vehicles.
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Kerrigan Advisors’ latest Blue Sky Report finds the pace of U.S. dealership buy/sell activity quickened in the third quarter and could accelerate further in Q4.
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Edmunds’ latest Used Car Report finds high off-lease volumes have suppressed prices and widened the gap between new and 3-year-old models to an average of $14,951.
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Experian analysts say buyers of pre-owned vehicles accounted for 55.15% of all U.S. auto loan originations in the third quarter, a 2.4% year-over-year increase.
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Edmunds analysts say Black Friday promotions helped suppress new auto loan interest rates last month, registering a year-to-date low of 5.5% and an 8.3% year-over-year decline.
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A joint statement from the nation’s biggest banking regulators expressed cautious optimism toward emerging decisioning models that could generate more auto loans.
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Kelley Blue Book reports the average cost to buy a new vehicle was $38,393 last month, a 1% year-over-year increase restrained by frantic efforts to move 2019-MY inventory.
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