Mercedes website to offer Sixt retired rentals

German car-rental company Sixt is the first third-party seller integrated into MBonDemand, a Web-based platform for sales of used Mercedes-Benz vehicles.

Teaching the auto retail titans

The auto retail legends of today discuss the individuals who mentored them, and how that has prompted them to do likewise for the next generation.

Wells Fargo to boost auto lending

Wells Fargo CEO Tim Sloan said the banking giant is ready to increase lending for car sales after pulling back last year. Wells Fargo decided to rein in car financing in mid-2017 and tighten underwriting standards.

Print paperwork in front of the customer

Don't print any paperwork before the customer is in the office, suggests Dan Mason, platform finance director at Brandon Steven Motors. Do it while the customer is there, he says. Customers are conditioned to think, “When the printer starts printing, it's almost over," he says. The sound of the printer "actually puts the customer at ease."

UPDATED: 5/17/18 11:07 am ET - corrected
JM Family rebrands finance business

JM Family Enterprises has renamed its vehicle finance business Southeast Toyota Finance, dropping the World Omni title as part of a rebranding initiative leading up to JM Family's 50th anniversary.

Protect private information

Train dealership employees on guarding private information, suggests Steve Roennau of EFG Cos. “If an auditor walked through your dealership today, how many pieces of private, personal information would they see?” he said. Dealers must ensure employees use secure resources to collect, store and dispose of private data.

F&I pioneer merits Hall of Fame entry

The Automotive Hall of Fame was founded in 1939 by the “Automobile Old Timers” to perpetuate memories of early pioneers. But the scope for potential inductees has expanded to include significant contributors from across the automotive spectrum. As such, Pat Ryan warrants consideration.

Partner with vendors wisely

Choose vendors that already have skin in the game, suggests Phil Battista, CEO of dealership vendor Darwin Automotive. Conduct due diligence by checking the size of a vendor’s staff and client base. Talk to other dealers and call a vendor’s support line. “Select someone for what the market is going to bring,” he said. “The vendor selection piece is so critical.”

UPDATED: 5/9/18 12:02 pm ET - adds details
U.S. House, in victory for dealers, votes to curb CFPB lending guidance

The House, in a victory for dealers, passed a measure that would scrap an Obama-era regulation aimed at limiting dealerships' retail margins on auto loans, which the Consumer Financial Protection Bureau said may have led to minority borrowers being charged more on loans. President Trump is expected to sign the measure.

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