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Today, unethical behavior at dealerships is more difficult to get away with than in the past. Dealers set policies to weed out unethical characters, and social media and consumer resources often shed light on unethical business practices.
Ethical practices in automotive finance have evolved significantly in recent decades, with a boom in automotive retail regulations. Automotive News explores this evolution in this special section.
The relationship between compliance and ethics is especially acute in the F&I department.
Despite an increase in subprime loan volume in the third quarter, subprime market share hit its lowest level in more than a decade, according to Experian.
Will affordability pressures put lenders and dealers at odds? In a volume-driven environment, maybe.
Affordability has become a more prominent issue as the industry's average interest rate and transaction price rise month after month. But despite consumers' drive to get to their ideal payment, lenders are staying disciplined.
After months of financial woes, Rahim Hassanally, the prominent young dealer principal of Momentum Auto Group in California, abruptly shut down seven stores.
Lenders are working to adapt to an auto retail and auto finance model largely driven by technology, some with operational adjustments and others with fintech partnerships.
The direction of automotive retailing is up for debate, but considering recent moves by lenders and dealerships, industry leaders are placing their bets on the used-vehicle space.
After a public feud over customer-data access led to a severed contract, AutoNation and TrueCar made amends. Now, the dealership group is giving ex-TrueCar CEO Scott Painter a second chance.
AutoNation is partnering with Fair, a used-vehicle leasing subscription service, to offer customers a flexible lease option.
Karma Automotive, formerly Fisker Automotive, has partnered with Drive Motors, an online car-shopping and financing platform, in an effort to expand its scope despite its small dealership count.
As banks continue to lose share to credit unions, refinancing may be a short-term way for them to gain customers. Dealers should be cognizant of the potential strategy.
Chase Auto has handed responsibility for direct lending to its chief marketing officer, part of an effort to unify its customer-facing business and present services beyond traditional auto lending.
GM Financial is expected to serve as a fount of profits for General Motors to fund investments in emerging technologies.
As new-vehicle sales slow and margins continue to tighten, the used-car department may be the center of the dealership's "wheel of fortune."
Industry leaders are making their bets on the used-vehicle space.
Increasing efficiencies and maintaining a healthy portfolio rank high on Hyundai Capital's 2019 to-do list, says Ross Williams, the captive's CEO.
Loan and lease originations at Santander Consumer USA's Chrysler Capital unit climbed in the third quarter as talks continue with Fiat Chrysler Automobiles about the automaker's plan to form its own finance arm.
For the first time in its eight-year history, GM Financial has paid a hefty dividend to its parent, General Motors.
AutoNation's $50 million investment in online used-vehicle retailer Vroom could someday lead to a strategic partnership. But for now, it's solely an investment.
AutoNation's third-quarter net income rose on gains in the company's parts and service, used-vehicle and F&I businesses. The dealership group also announced a strategic investment in online used-car retailer Vroom.
Through Daimler Financial Services' investment in Soul Machines, a developer of emotional intelligence for use in machines and digital avatars, customers may be able to make their purchase and finance decisions with advice from an avatar.
As interest rates continue to climb, car buyers are taking notice. And many of them are objecting to rates offered by dealerships.
Rental car companies are partnering with some mobility players, acquiring others and leveraging their scale and expertise to play a key role in the future of transportation.
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