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The F&I Newsletter for 07.15.14

 

Stories that appeared in our weekly F&I Report Newsletter

 
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Sonic bets new plan will transform automotive retailing

12:01 am U.S. ET | July 14 |

After more than five years of internal work and external carping, Sonic Automotive Inc. will roll out a bet-the-farm change in how it sells cars late this month at a Toyota store in Charlotte, N.C.

 

Shoppers wary of dealer loans

12:01 am U.S. ET | July 14 |

Although most car buyers finance their vehicles through dealerships, the vast majority don't plan to do so while in the online-research phase of shopping. ...

 

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Dealer: Customers judge a service contract by its cover

12:01 am U.S. ET | July 14 |

For auto retailers, having factory-backed finance and insurance products to sell sometimes makes all the difference. ...

 

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JIM HENRY

Why buy-here, pay-here is losing some turf

12:01 am U.S. ET | July 9 |

More consumers are passing up offers from buy-here, pay-here stores in favor of cheap financing by some franchised new-car dealerships, one giant used-car retailer says. ...

 

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Chrysler Group's lease rate rises; Dodge Double-Up builds traffic

12:01 am U.S. ET | July 9 |

Chrysler Group's lease penetration rose sharply in June, the company said, as the innovative Dodge Double-Up short-term lease program passed its halfway point. ...

 

Dealers are responding well to flat fees, BMO Harris says

12:01 am U.S. ET | July 9 |

BMO Harris Bank in Chicago says its ties with dealers haven’t suffered since it switched from dealer reserve to a flat fee to compensate dealerships for arranging a ...

 

Car loans are riskier, but problems aren't rising, regulator reports

12:01 am U.S. ET | July 9 |

The Office of the Comptroller of Currency fretted in a recent report that hotter competition is driving auto lenders to accept more risk in terms of lower approval standa ...

 

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Roaring Westlake on prowl for its next lion

12:01 am U.S. ET | July 9 |

Now that Don Hankey has turned 70, after more than 40 years of building Westlake Financial Services out of the used-car department of his family's struggling Ford dealers ...

 

Loan application blasts could be a blow to dealers

12:01 am U.S. ET | July 9 |

Technology makes it easy for finance and insurance managers to blast credit applications across a wide spectrum of lenders, called shotgunning, rather than matching the r ...

 

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Stuart leaves VW Credit to become CEO of TD Auto

12:01 am U.S. ET | July 9 |

Andrew Stuart, the CEO of captive finance arm Volkswagen Credit, is leaving to become TD Bank's auto-lending chief. ...