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F&I eNews Tuesday Feb 21, 2012

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Latest News

Gas Prices Once Again a Concern, Reports CNW
Despite a rise in gas prices, data from the first 15 days of February indicates that vehicle sales could rise 7 percent to 1.1 million units this month, according to CNW Research. Read Full Story


Average New-Vehicle Age Reaches Nearly Six Years, Polk Reports
An analysis by Polk revealed that the average length of ownership of vehicles that were purchased new has risen to a record 71.4 months, or nearly six years. Read Full Story

U.S. Consumers Paying Down Debt, Remain Cautious, Equifax Reports
Equifax reported that nearly 60 of the top 100 metropolitan statistical areas hardest hit by credit card debt realized double-digit declines in the percentage of income owed to credit card companies — nearly 24 percent in some areas. Read Full Story


Consumer Auto Demand Provides Loan Growth for Banks, Fitch Says
Fitch Ratings announced U.S. banks have a chance to foster loan growth via their auto portfolios, as consumer demand and sales of both new and used vehicles increases. Read Full Story

LEAP Financial, 722 Redemption Funding Announce Partnership
LEAP Financial and 722 Redemption Funding announced a partnership to offer redemption and replacement financing for customers filing for Chapter 7 bankruptcy. Read Full Story


The Impact Group Launches ADP Approved Interface
The Impact Group announced its latest certified interface, a direct integration relationship between ADP DMS systems and the Fusion F&I menu platform, as well as TFS’s FS Presentation. Read Full Story

AutoFerret.com’s Virtual Assistant Sends 5 Millionth Message
AutoFerret.com announced that its Automated Virtual Assistant has sent its five millionth message to auto dealership customers. Read Full Story


Auto Point, TimeHighway.com Partner on Online Service Scheduling
Auto Point Inc. and TimeHighway.com announced a partnership to give service customers the ability to schedule an appointment 24 hours a day, 7 days a week from their computers or mobile devices. Read Full Story

Blogs

Done Deal

Under Construction
Building the virtual F&I office really shouldn’t be that difficult. If you know how to overcome an objection, you already have your first post. Read or Respond

Gregory Arroyo
Executive Editor
gregory.arroyo@bobit.com

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Featured Stories
The February issue of F&I and Showroom magazine is here. Check out the magazine’s cover story on Hoy Fox Toyota and its high-performing F&I team. Also in this issue is Jennifer Washington’s review of leasing and how it’s impacting dealers and their F&I offices. For F&I managers, the issue features an objection-handling technique for GAP that insurance companies don’t want you to know about.
<p>Hoy Fox Toyota Finance Director Victor Martin Del Campo poses with Dealer Principal Steve Fox and Finance Managers Ozzy Herrera, Larry Salcedo, Julio Cervantes (Hoy Fox Lexus) and Matthew McCoey.</p> Head of the Class
Since buckling down and hitting the books in 2011, the finance team at Hoy Fox Toyota has been enjoying bigger numbers and stronger confidence in their store’s processes. Read Full Story
Return to Normalcy
The industry shifts its gaze to leasing as the segment realizes gains and prompts dealers to update their processes. Read Full Story
<p>It&rsquo;s important to explain why most GAP policies offered through the dealership have more benefits and value than those sold by insurance companies.</p> Closing the Gap
Get a complete breakdown of a GAP objection-handling technique insurance companies don’t want you to know about. Read Full Story
F&I’s Social Link
Social media represents an opportunity for the F&I office to be seen, heard and trusted. Read Full Story
Selling the Service ‘Up’
Fixed-ops expert opens his four-part series on establishing a sales process for parts and service with a primer on what considerations need to be made. Read Full Story
Reading the Tea Leaves
The industry has been waiting for signs on how the CFPB would approach anything auto. The magazine’s resident legal wiz says the agency has finally tipped its hand. Read Full Story



Visit F&I Magazine's Website for more news



If you would like to send us comments or questions regarding our e-news alert, magazine or the F&I industry, please e-mail Gregory Arroyo at gregory.arroyo@bobit.com.

Prepared by:
Greg Arroyo
Executive Editor
310-533-2592
greg.arroyo@bobit.com

Jennifer Washington
Assistant Editor
310-533-2496
jennifer.washington@bobit.com






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