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Cox Automotive’s latest Dealer Sentiment Index shows a marked disparity in optimism and fear factors between America’s new- and used-car dealers.
September 16, 2019
An Equifax review of auto finance data from the first four months of 2019 found subprime’s percentage of total originations fell to 22.7% for all purchases and 9.2% of new-vehicle leases.
September 12, 2019
AAA analysts say bigger price tags and higher interest rates have conspired to raise American new-car buyers’ average annual total cost of ownership to $9,282, an all-time high and a 24% year-over-year increase.
September 12, 2019
Mark E. Rooney, an attorney whose practice focuses on consumer litigation defense and government investigations in the financial services industry, has joined the Washington, D.C., office of Hudson Cook LLP.
September 9, 2019
National Automobile Dealers Association officials have told the FTC that proposed new provisions to the Safeguards Rule may be unnecessary and could cost smaller dealers more than $400,000 in the first calendar year of enforcement.
September 9, 2019
Protective Asset Protection’s Dealer Training Institute was designed to help F&I personnel better understand product offerings to maximize sales, profits, and CSI.
September 5, 2019
Experian’s Q2 auto finance report consumers continue to uncover ways to manage monthly payments. For a record percentage of prime borrowers, that meant passing on a $32,000-plus new-vehicle loan in favor of a pre-owned unit.
September 5, 2019
Black Book’s Used Vehicle Retention Index shows a 1.4% month-over-month increase in August, a month in which all but a few pre-owned segments showed improvement.
September 4, 2019
Toyota Motor Credit will offer loans, leases, and F&I products to Mazda’s U.S. dealers and customers, replacing the JPMorgan Chase-backed Mazda Capital Services as the factory’s captive finance company.
August 29, 2019
Analysts say impending 2020 releases are putting downward pressure on lease prices in every truck and SUV category in Wantalease.com’s secondary marketplace.
August 26, 2019
An Ally/Harris survey of U.S. consumers found only 21% had purchased a vehicle service contract, propelling their average five-year maintenance and repair costs to nearly $2,000.
August 26, 2019
Six operators of a nonexistent auto finance company have been sentenced to federal prison or probation for fraudulently obtaining $1.7 million worth of loans from banks and credit unions.
August 22, 2019
Hoover Mitsubishi’s Mark Hoover has sued two former employees accused of doctoring auto loan applications, a scheme that led to an FBI raid and the shuttering of the dealership.
August 21, 2019
Lease approval ratings improved in July following a slight dip in June, according to the latest report from Swapalease.com.
August 16, 2019
J.D. Power’s latest U.S. Dealer Financing Satisfaction Study finds knowledgeable and empowered bank and finance company personnel are critical to building successful relationships with dealers and F&I professionals.
August 14, 2019