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Idaho retailer Chalfant and Edmark Auto are suing Zurich for misrepresenting and mismanaging a charge-back program and then billing them for the resulting $230,000 deficit. Zurich plans to defend the matter “vigorously.
F&I managers encourage customers to buy a service contract, not a “warranty,” but does the sales team?
It's a good time to buy dealerships, says Brian Bates, CEO of Holman Consumer Services. Holman Automotive acquired the 14-rooftop Kuni Automotive in July.
The Consumer Financial Protection Bureau fined Experian $3 million for deceiving consumers about the nature and use of the credit scores it presented to consumers.
Sage Automotive Group and its owners settled federal charges last week that the group used deceptive and unfair sales and financing practices.
It's important to remember that each consumer's priorities are different when it comes to the F&I process.
Credit unions on CU Direct's auto lending network as a group were the second-largest auto financing source in 2016, CU Direct said.
Sage Automotive and its owners agreed to settle federal charges that the dealership group used deceptive and unfair sales and financing practices.
Electronic contracting has become increasingly prevalent in auto retail, but it still has room to improve, especially as an enabler to the fully online vehicle transaction.
Soft credit pulls can help consumers do more of the car-buying process, including F&I, online. But dealerships need to be aware to stay in compliance with the laws.
As the auto industry prepares for the advent of the fully online transaction, there is a specific set of challenges in the F&I arena.
AutoGravity and Black Book have teamed up to offer consumers and dealers a trade-in value tool through AutoGravity's mobile app and web platform. The tool went live on Tuesday.
While leasing continues to drive new-vehicle sales, it's growing at a slower rate than in recent years. Edmunds expects lease penetration to decline to 30 percent overall in 2017, from a record high 32 percent in 2016.
Lenders are trying to determine the impact of technology throughout the car buying, financing and ownership process and how it will affect their business.
The average loan amounts for new and used vehicles rose in the fourth quarter, but consumers kept monthly payments low with long loan terms and leasing, Experian Automotive reported.
The percentage of auto loans delinquent 30 or more days rose slightly in the fourth quarter, Moody's Analytics said, adding that it's not cause for alarm.
As millennials age, the vehicles they choose to buy may change, but the way they look at affordability will likely remain consistent.
EFG aims to simplify F&I compliance for industry newcomers and veterans through a series of free podcasts and YouTube videos.
Group 1, AutoNation, Asbury, Sonic and Lithia posted improved F&I results in the fourth quarter, although the retailers gave mixed views this month on whether growth will continue.
In the evolution to the online car-buying process, it's important to remember there is no one-size-fits-all solution.
Americans have mostly recovered from the 2008-09 recession, but it can still be difficult for many subprime consumers to bounce back, especially when interest rates are high and auto insurance costs are almost as much as the...
To help dealership employees access data needed to close deals faster, ChannelNet, with Hyundai Capital America, has upgraded its dealer portal, adding mobile use and customizing it to fit the duties of multiple staffers.
After gaining subvented loan and lease exclusivity over the past two years, General Motors' captive finance arm, GM Financial, is eyeing floorplanning and nonsubvented loan share, top executives say.
In spring 2016, the idea of used leasing buzzed around the National Automobile Dealers Association convention and the American Financial Services Association Vehicle Finance Conference in Las Vegas.
Dealers are hiring more millennials, but struggling with how to retain them. Experts say it can be done, and here's how.
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