Store not liable for unauthorized credit pull, but dealers should take heed
What should a dealership do about a customer who comes into the showroom, authorizes a credit check, doesn't buy a vehicle at that time but starts shopping again months later? Consider getting another written authorization before pulling an updated credit report.
Incentives to rise, be more strategic in 2017
Shoppers will pay more for the right tech, study finds
Car shoppers, especially millennials, are willing to pay more for the technology they want in a vehicle, a study found. And those who plan to finance their vehicle are willing to pay slightly more than cash buyers.
VW diesel settlement extends to auto lendingUPDATED: 1/13/17 1:02 pm ET - adds VW statement
Volkswagen's settlement in connection with its diesel emissions scandal has spilled over into the vehicle-financing business. VW has agreed to pay $50 million in civil penalties to settle alleged violations of the law, after the Justice Department essentially charged it with tapping U.S. markets to finance fraud.
Lincoln Financial set to roll out lease mileage credit program
Following a successful pilot, Lincoln Financial Services this year will roll out nationwide a “Lincoln Miles” lease credit program that's aimed to minimize lease anxiety, Lincoln President Kumar Galhotra told Automotive News this week on the sidelines of the Detroit auto show.
Auto finance forecast: Mostly sunny with a few dark clouds
The forecast for auto finance in 2017 is mostly sunny. But growth in longer-term loans, a corresponding increase in negative equity, declining used-car prices, a high level of incentives, and an uptick in interest rates are dark clouds to keep an eye on, analysts said.
Head of Wells Fargo Dealer Services to retire
Mitsubishi will stick with Ally for financing, for now
Ford targets stand-out customer experience
Ford and Lincoln are celebrating 40 years of selling branded F&I products. Last month, two executives overseeing the F&I business spoke about their progress, dealerships' F&I profitability and the role F&I could play in an autonomous driving world with Staff Reporter Hannah Lutz at Ford Motor Co.'s headquarters in Dearborn, Mich.
BEST PRACTICES: Lexus dealership cultivates wrap artists
JM Lexus began its own wrapping business, JM Custom Creations, with a Lexus LS wrapped in a chrome-like design. Now it takes personal requests from car buyers and commercial orders from outside companies.
Ally Financial agrees to finance up to $600 million in Carvana retail contracts
Ally Financial and online used-vehicle retailer Carvana have expanded their relationship to include vehicle financing. Ally said today it will finance up to $600 million in Carvana's retail contracts over the next year.