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As Good As Used

In the automotive industry, 2011 will be remembered for a remarkable series of events. The Detroit Three climbed back from the brink. A massive earthquake and tsunami struck Japan, killing thousands and disrupting Honda’s and Toyota’s supply lines. General Motors reclaimed its crown as the world’s No. 1 manufacturer. TrueCar went from partner to pariah. … Continue reading

All Lanes Open

Auto finance sources went on the offensive during the third quarter, with loans made to credit-challenged customers representing just less than a quarter of new-vehicle loans during the period. And all signs point to auto lenders continuing to loosen their guidelines as consumers look to replace their aging vehicles. Fueling their confidence were car buyers, … Continue reading

February Bankruptcy Filings Increase 19 Percent

The American Bankruptcy Institute (ABI) announced that total bankruptcy filings in the United States increased 19 percent in February vs. January. Filings totaled 104,418 in February, up from the 87,981 filings in January. “The stagnant housing sector and high unemployment continue to stress the cash flow of consumers and businesses,” said Samuel J. Gerdano, ABI … Continue reading

Consumers Using Home Equity to Buy Cars Again

The use of home equity loans to buy new cars is on the rise again, though not nearly to pre-recession levels, according to Bandon, Ore.-based CNW Research’s Art Spinella. He discussed this shift in the March 2012 Issue of CNW’s Retail Auto Summary, saying the increase in this form of financing is especially true among … Continue reading

New Cadillac safety feature will have your butt buzzing

It’s something a good race car driver is expected to do, using the subtle cues a car gives while racing around the track to push to the limits. But now, even an average driver will be able to drive by the seat of their pants in Cadillac’s new flagship luxury sedan. The General Motors luxury … Continue reading

Chrysler Group Launches Diversified CPO Program – F&I Magazine

Chrysler Group announced the launch of Diversified Certified, a program that enables Chrysler Group dealers to certify and sell competitive-make, pre-owned vehicles backed with a Chrysler Group warranty. The 140 FIAT studios now open in the United States are the first to launch the Diversified Certified program. Chrysler, Jeep, Dodge and Ram Truck dealers will … Continue reading

Gas Price Hike to Have Mild Impact on Used Pricing – F&I Magazine

The NADA Used Car Guide predicted yesterday that gas prices will peak at $4 per gallon in May, but said it expects the impact on used-car prices to be mild by historical standards. According to the U.S. Energy Information Administration, the average price of regular grade gasoline has jumped by 49 cents since the beginning … Continue reading

Equifax, Moody’s Predict Growth in Auto Finance Market

U.S. consumer credit data from CreditForecast.com, a joint product of Equifax and Moody’s Analytics, projects a rebounding consumer environment along with recovering auto and home markets in 2012. As numbers reflect pre-recession totals, consumers should anticipate steady economic growth in major sectors, according to both companies. Delinquency rates in auto, bankcard and consumer finance are … Continue reading

GM, Wells Fargo Launch Auto Finance Partnership

General Motors Co. and Wells Fargo & Co. announced a long-term partnership to offer financing to Chevrolet, Buick, GMC and Cadillac dealers and retail customers in GM’s West marketing region. “Our relationship with Wells Fargo further improves GM’s competitiveness by expanding the financing options we can offer to our dealers and customers,” said Mark Reuss, … Continue reading

[VIDEO] Part 1: Delivering the Vehicle

Adding to the dealership’s bottom line is the duty of all F&I managers, but it’s not their only responsibility. UDS’ Gerry Gould addresses an F&I manager’s No. 1 responsibility in part one of his five-part series. view the video at: F&I Magazine.

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