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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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ADT Magazine
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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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This week, Westlake Financial Service began its recruitment process as part of its plans to expand the servicing team in its Dallas production center, which opened its doors this past January.
Read More →The bureau ordered the subprime auto finance source and its subsidiary to pay a $4.25 million civil penalty for illegal debt-collection tactics and $44.1 million in consumer redress.
Read More →CFPB Director Richard Cordray was met with hostility on Tuesday during the bureau’s semi-annual report to Congress. The hearing took place a day before a House committee passed two CFPB reform bills.
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Volkswagen AG plans to refit all 11 million vehicles involved in the emissions-rigging scandal. It also announced significant changes to its top leadership, while dealers await answers.
Read More →Consumers are keeping their cars longer and consequently buying fewer vehicles over their lifetime. But results of a new survey from AutoAlert shows that dealers can sell more cars when they use customer data to reach out to potential buyers.
Read More →As of last month, CNA National now has more than three million contracts in force across its product lines, including vehicle service contracts, GAP, tire-and-wheel protection and warranties.
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The CFPB and DOJ announced two actions against Fifth Third Bank on Monday, one of which requires the finance source to pay $18 million in restitution to minority auto loan borrowers, as well as limit its dealer partners’ ability to markup interest rates on auto loans.
Read More →AmTrust Financial Services has announced the completion of its acquisition of Warranty Solutions from Wells Fargo for approximately $158 million in cash.
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A woman who says she was duped into purchasing “void and worthless” GAP coverage has filed a class action suit against the finance source on behalf of Illinois customers who have signed similar contracts.
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What do you get for the dealer who has everything? Check out a few ideas you may not have considered.
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