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Ford Credit sees little to worry about from longer terms

Ford Credit doesn't like the rise in longer-term loans but also doesn't worry about their impact on the industry. Maybe that's because it has largely avoided joining the trend.


Zurich sued over charge-back program

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.

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Leave 'warranty' out of the service contract pitch

F&I managers encourage customers to buy a service contract, not a “warranty,” but does the sales team?



Sage Auto settled with FTC to avoid costly litigation, its attorney says

Sage Automotive Group and its owners settled federal charges last week that the group used deceptive and unfair sales and financing practices.

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| UPDATED: 3/29/17 3:41 pm ET - adds details
Santander pays $25.9 million to settle subprime auto loan probes

Santander Consumer USA agreed to pay $25.9 million to resolve probes by the attorneys general in Massachusetts and Delaware into its financing and securitization of subprime auto loans. The deals resolve allegations Santander facilitated unfair, high-rate auto loans for thousands of car buyers.


Zurich sued over charge-back program

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.”


Big lenders backing off subprime loans

Some of the nation's largest auto lenders are likely to remain cautious about subprime in 2017 - especially the lower end of subprime - after hitting the brakes on the segment to varying degrees in 2016. The void could result in smaller lenders, including buy-here, pay-here dealerships, gaining share, including business from customers who can no longer find financing at new-car dealerships.


Store puts F&I in sales managers' hands

At McGeorge Toyota in Henrico, Va., the sales managers do the job that an F&I manager typically does -- menu-sell F&I products and arrange financing. The result is higher customer satisfaction scores, faster transaction times and a boost in revenue on both F&I and new-vehicle sales.

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