Cox Automotive Files Antitrust Lawsuit Against CDK Global
F&I Magazine Top News
Week of December 11, 2017
Top 5 News
1. Cox Automotive Files Antitrust Lawsuit Against CDK Global
Add Cox Automotive to the growing list of tech vendors and dealers alleging that CDK and Reynolds and Reynolds Co. conspired to eliminate competition for data integration services and seize control over dealer and third-party data.
2. GOA Says Congress Can Review CFPB’s Guidance on Dealer Participation
The Government Accountability Office said on Tuesday that the bureau’s March 2013 bulletin on dealer participation falls under the Congressional Review Act, a decision that clears the way for the Republican-controlled Congress to repeal the bureau’s controversial guidance.
3. Darwin’s Digital F&I Department Goes Live
Darwin Automotive has launched Darwin Online, described by the company as the auto industry’s first fully functional 24-hour F&I department.
4. Subprime Originations Hit Record Low in Q3
Subprime financing fell to its lowest point since 2012, while prime grabbed the lion’s share of the auto finance space in the third quarter. Even the used-vehicle market has gone prime, with buyers outside of prime accounting for just a third of the market.
5. TCF Exits Indirect Auto Finance Business
The bank’s announcement comes seven months after it rolled out a new strategy designed to increase earnings predictability. The company’s chief executive said the bank’s decision was based on a less favorable financial outlook for the indirect auto origination business.
Top 5 Articles
1. Popping the F&I Question
F&I trainer says F&I offices can learn a lot from the current ‘promposal’ craze. He offers a three-step process for converting your one-size-fits-all presentation into a personalized, needs-based proposal.
2. Tap to Lease
Honcker’s Nathan Hecht took his dislike of the typical leasing process and turned it into a mobile app that’s delivering ready-to-go deals to dealers in eight states and an experience studies show customers want — even when it comes to F&I.
3. Perfect Storm
Industry Summit’s executive panel convened to discuss and debate the effects of Hurricane Harvey, the status of the used-car and subprime markets, the GM mandate, and the digitization of the F&I process.
4. To Catch a Thief
The magazine’s resident compliance pro says Red Flags tools aren’t foolproof. He offers four tips for vetting suspicious buyers who seem to have all the right answers.
5. REAL ID Has Arrived
January marks the first implementation deadline for the federal REAL ID Act. Compliance expert outlines the law, its requirements, and two potential issues facing dealers.
 

CHECK US OUT
Follow us on Facebook Facebook    Follow us on Twitter Twitter


SUBSCRIPTION SERVICES

BLOGS