AAA: Road De-Icers Cause $3 Billion Annually in Vehicle Rust Damage Click to view online.

Automotive Fleet Tuesday
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Feb 21, 2017
State of the F&I Union

A survey of 159 F&I professionals revealed a number of surprises — and confirmed at least one widely held theory — about compensation and how they feel about their work.



AAA: Road De-Icers Cause $3 Billion Annually in Vehicle Rust Damage

The methods used to de-ice roadways cost 22 million American vehicle owners an estimated $15.4 billion in rust repairs over the last five years, according to a new AAA survey. The average cost to repair rust-related issues is $500.


IHS Markit: Global Auto Sales to Reach 93.5 Million in 2017

The market research firm noted that industry risk in mature markets is at the highest level it has been since the Lehman Brothers collapse and global industry downturn from 2008 through 2010.



AutoGravity Announces Partnership With Westlake

The subprime finance source’s auto financing options will now be available through the FinTech firm’s digital platform, which allows car buyers to select a vehicle, find nearby dealerships that carry the vehicle, apply for financing, and choose from up to four personalized financing options on their mobile device.


<p><em>The executive team for AutoGravity includes CTO Martin Prescher, CEO Andreas Hinrichs, COO Nicholas Stellman, and COO Serge Vartanov.</em></p> There's an App for That

AutoGravity’s Andreas Hinrichs believes his mobile financing app can serve as the ‘digital glue’ between dealers and finance sources, delivering ready-to-buy consumers to dealer showrooms.



eBay: Car Buyers Will Buy Online

Will consumers buy cars online? Results of a new two-part consumer survey conducted by eBay Advertising shows they will.


<p>un Toyota&rsquo;s Showroom2Go program combines process with technology. For the latter, the dealership partnered with website provider fusionZONE Automotive to customize the online buying platform. It includes a finance module, trade-in value calculator, and the software that puts it all together: Dealmaker.</p> F&I to Go

Sun Toyota’s John Marazzi was already an internet sales evangelist before launching a fully online process in September 2016. In its first month alone, the program delivered 75 closed deals and an F&I per-copy average that was just $45 shy of the in-store average.



D.C. Circuit Grants CFPB’s Request to Defend Single-Director Structure

The D.C. Circuit granted the bureau’s request to reconsider last October’s three-judge ruling that the bureau’s structure is unconstitutional, vacating a decision that gave the president the authority to remove the director of the CFPB at will.


Tom Hudson Releases Book on Fed Government’s War on Dealers

In his new book, the attorney traces actions over the last five years by the Consumer Financial Protection Bureau and the Federal Trade Commission. It addresses the government's war on several fronts, from advertising and discrimination to disclosure requirements and other everyday compliance issues.



Treat Red Flags Like Subprime Stips

Well-meaning F&I managers can unwittingly clear a Red Flag before it is actually cleared. Compliance expert has a simple plan to button up your documentation process.


<p><em>Photo via Flickr.</em></p> CarMax Opens West Coast Reconditioning Hub

CarMax has opened a store in Murrieta, Calif., that will include a four-lane auction and serve as the West Coast reconditioning hub for the nation's largest retailer of used cars.



DealersLink Offers Tips on Getting Cars to the Digital Frontline

Aside from the tips, the firm announced the release of a free ebook titled, ‘Six Steps for Dealers to Get Their Cars to the Digital Front Line.’


Used-Vehicle Market Bracing for Off-Lease Tidal Wave

While low interest rates and consistent values are making it possible for the market to absorb the wave of newer, more expensive off-lease vehicles, demand for older, less expensive vehicles hasn't waned. But with fewer older vehicles available, sellers will be at a disadvantage, Edmunds said this week.



The Million-Dollar Plan

Fixed-ops expert says dealers who aren’t selling prepaid maintenance plans in service are leaving millions of dollars on the service drive floor each year.


One-Chance Training

Do you show up every day to showcase your skills, or do you show up to develop them? F&I trainer explains the critical difference.





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