Lincoln's freshened 2019 MKC gets new mesh grille, tech

The freshened 2019 MKC compact crossover, due in showrooms next summer, features new infotainment and safety technology and the mesh grille found on Lincoln's newest products.


People will still want personal cars

Everyone respects Bob Lutz, but I am disappointed that he is adding his personal credibility to projections of the death of the car.

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Wells Fargo dismisses head of consumer lending

Franklin Codel, the head of consumer lending at Wells Fargo, was fired over unsuitable communications he had with a former employee, the bank said, the latest upheaval at a lender roiled by scandal for more than a year.

Subprime pressuring delinquencies, N.Y. Fed says

The overall delinquency rate for auto loans is slowly increasing, but not alarmingly, and that's masking a worse performance for subprime auto loans, according to the Federal Reserve Bank of New York.

UPDATED: 11/15/17 5:27 pm ET - adds NADA statement
Cordray to resign from CFPB, may run for Ohio governor

Richard Cordray plans to step down as head of the Consumer Financial Protection Bureau, the controversial consumer watchdog created by President Obama following the 2008-09 financial crisis, amid growing speculation that he will run for governor of Ohio as a Democrat.

Use the vehicle as a prop to explain coverage

Take customers to the vehicle to help them better understand their coverage, suggests Dan Mason, general sales manager at McGrath Honda in Elgin, Ill. Go through the warranty overview at or inside the vehicle to show the customer what is and isn’t protected, he said. The protection and risk becomes more real for the customer when they are sitting in their new vehicle.

New-car down payments climb

Customer down payments on new-vehicle loans rose more than 10 percent year over year in October, and the average interest rate increased, Edmunds says. Other important variables such as term, monthly payment and the amount financed were essentially flat but at high levels.

Servicing millennials takes special focus, body language

Millennials respond to dealerships that support their journeys, whether they're buying their first car, having children or concerned about transporting pets. So laser focus on their needs, suggests Skyler Huff of marketing agency Barkley in Kansas City, Mo. And pay attention to body language so they know you're authentic. Look at them, don't talk over them and don't cross your arms or legs.

Hurricanes spur GAP claims, sales

In the aftermath of hurricanes Harvey and Irma, guaranteed asset protection claims have jumped, F&I product providers say. And some finance managers are using the storms as a tool when presenting GAP to customers.

Let customers know you're there to help

Make your intention to help clear and be friendly to assist customers in overcoming a negative perception of F&I managers, advises Ron Reahard of Reahard & Associates. Customers are asking themselves: Can I trust this person? Does he or she care about me? Is this person trying to help me, or sell me? he said.

UPDATED: 10/25/17 3:33 pm ET - adds detail
Ally reduces leasing in Q3

Ally Financial's auto loan and lease originations dipped 1.2 percent to $8.1 billion in the third quarter, the company said Wednesday. Ally has targeted reducing lease volume.

Don't say that! 14 words and phrases that can short-circuit F&I

In the crush of business, even seasoned F&I professionals can slip up and inadvertently antagonize a customer. To help ensure that doesn't happen, experts suggest F&I staffers make it a habit to keep these negative words and phrases out of business discussions.

For speedier approvals, know lenders' preferences

To get more approvals faster, know your finance companies' business preferences, advises F&I training expert Tony Dupaquier. Ask them: “What kind of borrowers do you like? What's your prime line?” Call them on their cellphones weekly to establish a rapport and ask about their wish lists.

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