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Federal guidance says that starting Jan. 1, consumers can transfer them to dealers instead of waiting till tax time.
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Consumers paying more and more as interest rates stretch costs to new highs.
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Report shows car loan amounts, down payments rising along with interest rates.
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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.
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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.
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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.
Read More →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.
Read More →Using Element Payment Services, Dealertrack Technologies will seamlessly integrate electronic payment processing into Dealertrack DMS 2.0.
Read More →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.
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