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The F&I Newsletter

 

Stories that appeared in our weekly F&I Report Newsletter

 
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Loan terms for used vehicles grow as inventory becomes 'younger, pricier'

UPDATED: 8/26/15 4:34 pm ET - adds details |

Loan terms on used cars and light trucks are ticking up as those vehicles, on average, become “younger and pricier,” according to Edmunds.com. The average loan term on a used vehicle stretched to 66.2 months in the second quarter, up 1.1 month from the year-earlier period.

 

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HANNAH LUTZ

E-contracting needs standard definition

12:15 pm U.S. ET | Aug. 26 |

Although electronic contracting has gained traction, it’s still not widely embraced by dealers.

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Dealers urged to polish fair lending practices as CFPB rule looms

12:15 pm U.S. ET | Aug. 26 |

Dealers, learn your lenders' fair lending policies and polish your own. That's legal experts' advice to retailers looking to prepare for the Consumer Financial Protection ...

 

LEGAL FILE

S.C. Nissan store 'acted in bad faith,' state high court says

12:15 pm U.S. ET | Aug. 26 |

The South Carolina Supreme Court reinstated a $19,963 judgment against a Nissan store for bad faith in its handling of the financing for a used 2005 Mazda6. The unanimous ...

 

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Electronic F&I boosts customer satisfaction, study finds

12:15 pm U.S. ET | Aug. 26 |

For higher customer satisfaction and more referrals, dealers should incorporate electronic components into the F&I process, a study by F&I Express and Make My Deal found. ...