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Black Friday spurs short-term interest rate decline

The resurgence of 0 percent financing for Black Friday deals pulled down the average interest rate on new-vehicle loans from the month earlier, but rates still grew year over year and will likely continue to rise.

Dealerships and their F&I departments make strides toward a culture rooted in ethics

Ethical practices in automotive finance have evolved significantly in recent decades, with a boom in automotive retail regulations.

Ethics evolution

Today, unethical behavior at dealerships is more difficult to get away with than in the past.



Real-world scenarios reinforce behavior

The Association of Finance and Insurance Professionals certifies F&I personnel in areas of ethics such as payment packing and deceptive acts, plus Catch 22 compensation plans.

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Real-world scenarios reinforce behavior

The Association of Finance and Insurance Professionals certifies F&I personnel in areas of ethics such as payment packing and deceptive acts, plus Catch 22 compensation plans.

Ethics evolution

Today, unethical behavior at dealerships is more difficult to get away with than in the past. Dealers set policies to weed out unethical characters, and social media and consumer resources often shed light on unethical business practices.

How the auto compliance industry was born

An investigation almost 20 years ago of suspected criminal activity at Gunderson Chevrolet, one of AutoNation's largest dealerships, shook the automotive world and led to today's compliance practices in the auto industry.

Set ground rules for self-promotion

Self-promotion can erode customer trust, F&I experts caution, and dealerships should have ethical ground rules for displays of personal achievement in the office.

Perfecting the sales-F&I handoff

DCH Millburn Audi in New Jersey has spent the last several years perfecting the sales-to-F&I handoff. The strategy has not only improved the sales process for the customer, but also increased the store's F&I profit.

F&I managers use Facebook for support

In 2009, a Facebook group was launched to help educate F&I managers on ethics and compliance. The intention to build an online community of experts, educators and comrades was a way to reach those in need of guidance without charging a fee.

Killer clown case spawned auto career

There's always a back story. For Terry O'Loughlin, director of compliance for Reynolds and Reynolds, a case involving a killer clown led him on the path to an automotive career.

Building a hiring plan around good behavior

Many dealers leave nothing to chance with ethics. Internal training, external audits and promoting from within as often as possible are the top tactics used to prevent compliance and ethical land mines.

It's not the money; it's how you make it

As new-vehicle margins continue to melt away, structuring a pay plan that rewards the F&I department but still ensures the job is done ethically and legally is one of dealers' greatest challenges, auto retail experts said.

Amid Ammann move, Barra to oversee GM Financial

As General Motors President Dan Ammann departs his post to lead the automaker's Cruise autonomous vehicle unit next year, GM CEO Mary Barra will step in on the captive side of the business, overseeing GM Financial.


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