Recent Stories
Industry eyes virtual notary services to identify digital car buyers

In the COVID-19 era, social distancing, mask requirements and an uptick in online sales transactions add hurdles to confirming customer identity, dealers say. Perhaps because of this, there has been an increased interest in leveraging virtual notary services in auto sales.
Jackie Charniga
Fed move to keep benchmark interest rate may not help auto customers

Rather than a positive omen, the move signals a slow economic recovery as the U.S. continues to grapple with the coronavirus pandemic.
Ford Credit offers relief to customers in path of hurricanes, fires

This is the second round of disaster relief extended by the lender this month amid an active hurricane and wildfire season.
Willey
Former NADA Chairman Dale Willey dies at 79

Willey led the dealer organization in 2007, mitigating industry issues leading up to the U.S. financial crisis.
Subprime shrinks amid COVID-19 sales conditions

Tighter credit and limited showroom access likely caused the notable decline of consumers in lower credit tiers, exacerbating a trend in motion since 2013.
Jackie Charniga
More changes to come for F&I process online

Automobile dealerships changed digital processes radically through the coronavirus pandemic, especially the finance-and-insurance portion. A new survey from F&I product provider Protective Asset Protection indicates more change is on the horizon.
John Weinberger
John Weinberger, Continental Motors Group co-founder, dies at 88

The classic car enthusiast and his brother were awarded a Triumph franchise in 1962 and built it into an operation that now sells seven import brands in the Chicago area.
State lockdowns stemming from the pandemic created backlogs in processing vehicle titles and registrations.
DMV challenges add to fraud risks, slow sales

Delays in processing title work and registration documents at closed departments of motor vehicles could conceal fraud activity from auto lenders and add liability to dealerships.
Toyota Financial secured $500 million in PPP, execs say

When its dealership partners were barred from accessing Paycheck Protection Program funding, Toyota Financial Savings Bank quickly got approval to disseminate the funds themselves.
Mazda Financial Services ramps up just as COVID strikes

Two weeks from the finish line, the fledgling venture hit a significant and unprecedented snag — a global pandemic that upended operations, closed automaker factories, shuttered dealership operations and put millions of Americans on unemployment.
Employment verification helps weed out fraud

Lenders intensified checks in the early months of the pandemic, which may have helped reduce fraud.
With credit washing, fear of fraud rises after deferrals

As customers are unloaded from financial hardship and their auto loan goes sour, the bureau could experience a rise in credit-washing attempts.
Stolen-identity danger climbs

Confusion during the pandemic, along with the shift to remote vehicle sales, is increasing the risk.
Synthetic ID fraud slowing, credit bureau says

TransUnion says the pandemic may have contributed to a slowdown in such thefts, but it suspects such scams will surge when forbearance programs scammers are now turning their attention to come to an end.
Pandemic advances Dealertrack's digital F&I offerings

With customers unwilling to wade into public spaces in pandemic conditions, remote processes enabled by digital features have become essential to dealerships across the country.