Survey: Buyers Are Using VSC and Ancillary Product Benefits
F&I Magazine Top News
Week of June 25, 2018
Top 5 News
1. Survey: Buyers Are Using VSC and Ancillary Product Benefits
According to results, the top areas most likely covered under a vehicle service contract include steering, technology feature service, brakes, electrical components, and drive axles. Areas such as transmission and suspension repairs showed the smallest responses among the 120 car owners surveyed.
2. New NY AG Settles With Queens Dealer Group
Recently appointed New York Attorney General Barbara Underwood has settled charges of deceptive practices against a four-rooftop, Queens-based dealer group.
3. ADT Announces Winners of 2018 Dealers’ Choice Awards
Dealers and dealership personnel have recognized 70 companies and individuals in 34 categories in the 2018 Dealers’ Choice Awards.
4. RideShare Knight Offers VSCs for Uber and Lyft Drivers
Comprehensive vehicle service contracts designed specifically for ride-hailing drivers are now available from RideShare Knight.
5. Fed Reserve Approves Second Rate Hike of 2018
For the seventh time since 2015, the Federal Reserve increased the Federal Funds Rate a quarter percentage. Cox Automotive economists say higher interest rates and tighter credit have already led to softening retail demand, noting that further rate increases will impact all corners of the car business.
Top 5 Articles
1. One Giant Leap for F&I
Top trainer says it’s time for F&I professionals — particularly the vets — to let go of the past and embrace the changes facing automotive finance and protection products.
2. To Interview or Not to Interview: That Is the Question
Trainer shares six proven methods for preserving the F&I interview without needlessly annoying your customers.
3. Slurs, Cussing, and Misnomers
Master the F&I language by eliminating three groups of inappropriate, inaccurate, and legally explosive words from your vocabulary.
4. Special Report: Unwinding the CFPB
F&I tracks the rise and fall of the Consumer Financial Protection Bureau’s aggressive but ultimately futile five-year assault on dealer participation.
5. Transparency Wave Rolling Into F&I
Digital retailing invaded the Las Vegas Convention Center in late March for NADA 2018, but its arrival did little to bring clarity to F&I’s cloudy future.
 

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