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Most workplaces strive for employee engagement, but only a select group gets it right. Prioritizing engagement could improve employees' performance.
One clear benefit for retailers and lenders under the Trump administration? A better relationship between industry associations and the CFPB.
Strip away manufacturers' dealer incentives, and F&I gross profit on new vehicles is exceeding vehicle gross profit, according to the latest benchmark data from DealerStrong.
Automakers' use of stair-step incentive programs could hurt consumer loyalty and weaken demand for the brand, said NADA Chairman Mark Scarpelli.
MUSA Auto Finance has its sights set on a heavy leasing market, especially used-vehicle leasing. It just launched automated decisioning for leases submitted through Dealertrack, RouteOne and its own online portal.
Automakers sweetened incentives last month to sell down a glut of 2017 models on dealership lots and make room for 2018 cars and light trucks. But the higher spiffs won't end there, Edmunds says.
Speeding up the F&I process has been a goal of F&I managers for the past few years, and lenders can help with automated decisions.
Credit unions led U.S. auto lending growth in the second quarter as other lender types pulled back, CU Direct says in its latest State of the Credit Union Auto Lending Market report.
Richard Morrin, COO for Santander Consumer USA, has been named president of Chrysler Capital and auto relationships, effective immediately.
Lenders and vendors are working toward developing consortia to get ahead of fraud. Dealers shouldn't be left only with their own resources.
A scripted F&I interview may be a good foundation for an F&I rookie, but emotion-based selling goes further, experts say.
F&I managers can get sales staff to help with F&I by learning about their goals and investing in their training.
If a hybrid sales-F&I model isn't the answer to smoother, faster process, what is?
Consumers looking to buy a Hyundai, Kia or Genesis model now can shop for and finance their vehicles through Hyundai Capital America using AutoGravity's mobile app and web platform.
With a third of new-vehicle loans now at 73 to 84 months, will even longer loans become commonplace?
The 30-day delinquency rate has improved, and 60-day delinquencies likely will follow suit as prime originations rise, Experian says.
The value of auto loan originations that contain some element of fraud may be as high as $6 billion this year, double last year's level.
Fraud and identity theft are escalating across the board, and auto lenders have become vigilant, acting to prevent crimes from affecting their business, their dealer clients and customers.
Although auto lenders are sharing fraud experiences more often, a full-fledged anti-fraud consortium has yet to take shape.
The fastest growing type of identity theft, synthetic identity fraud, is largely unknown to the public and a mounting threat for auto lenders, experts say.
The largest U.S. dealership group plans to close 76 stores in Florida -- nearly all of its outlets in the state -- at least through Saturday as it braces for Hurricane Irma.
Outstanding U.S. auto-loan balances reached a record-high $1.1 trillion in the second quarter, a 7.1 percent rise paced by prime loans, an Experian report said.
AutoFi, a company that automates online vehicle sales and financing, will enter Canada in 2018, partnering first with F&I company Tricor Automotive Group.
Vehicles sat on dealership lots longer in August than at any point since mid-2009. Even so, the 0 percent financing deals that can spur sales ebbed, Edmunds said.
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