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Dealership Profits Decline
While new and used retail sales stagnated, dealerships have been particularly supported by fixed operations and finance-and-insurance profits, according to a new report.
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SEARCHMENUSEARCHWhile new and used retail sales stagnated, dealerships have been particularly supported by fixed operations and finance-and-insurance profits, according to a new report.
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Sentiment speaks to recent auto finance data showing prime and superprime car buyers shifting toward used, where the average monthly payment was $139 less than the record $504 average monthly payment for new in the second quarter.
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iA Financial Group, one of the largest life and health insurance companies in Canada, has signed an agreement to acquire shares of third-party administrator SouthwestRe and its insurance arm, Dealers Assurance Co. The acquisition is expected to more than double the firm’s vehicle warranty business.
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The F&I product provider named Brian Stach to the post. The former vice president for Internet Brands will oversee all of GWC Warranty's field sales operations, including a nationwide team of area vice presidents, dealer consultants, and trainers.
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House Republicans charged in a new report that the CFPB missed an opportunity to uncover Wells Fargo’s recently revealed insurance and GAP refund issues when it rushed to settle with the bank last year for opening unauthorized customer accounts. It also accused the bureau of withholding a memo backing its claims.
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CitiFinancial has agreed to pay $907,000 to settle U.S. Department of Justice charges that it illegally repossessed vehicles sold to active-duty military members.
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Beginning in the state of California, financing through Hyundai Capital America is now accessible to AutoGravity users searching for financing for Hyundai, Kia or Genesis.
Read More →TrueCar and Team Red, White & Blue have partnered to support Old Glory Relay, a 4,600-mile journey across America that will deliver a free van to a deserving veteran or active military member.
Read More →The new program combines the ‘as you drive’ benefits of the F&I product provider’s ancillary products, including dent-and-ding, windshield repair, interior/exterior repair, and key replacement, with a lease-end benefit.
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CarStory Insights is a new feature that adds predictive analytics functionality to Vast’s artificial intelligence platform.
Read More →Gubagoo’s new Credit Pre-Qualification feature is designed to provide dealers with rich data they can use to prequalify customers during an online chat session.
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