Survey: F&I Represents Second Largest Opportunity for Margin Growth
F&I Magazine Top News
Week of April 23, 2018
Top 5 News
1. Survey: F&I Represents Second Largest Opportunity for Margin Growth
According to a survey of 1,573 dealership owners and professionals, claims adjudication control and product branding are the two leading concerns when it comes to F&I products. Inadequate coverage, price, and 'customers not seeing the value' viewed as the three barriers to selling VSCs.
2. U.S. Senate Approves Resolution to Repeal CFPB’s Dealer Participation Guidance
Today’s vote leaves it up to the House of Representatives to pass its version of the joint resolution of disapproval. Once that happens, only the president’s signature stands in the way of the industry’s more than five-year campaign to get the CFPB’s controversial guidance repealed.
3. It’s Official: Wells Fargo to Pay $1 Billion Fine
Wells Fargo has consented to pay federal regulators $1 billion to settle charges pertaining to sales of automotive collateral protection insurance and mortgage interest rate-lock extensions.
4. Ally Announces Sweeping Leadership Changes
Ally Financial announced a number of promotions and the departure of former President of Auto Finance Tim Russi.
5. Calif. Dealers Seek New Protections Under State's Franchise Laws
New legislation aimed at strengthening dealer protections under California’s franchise laws will have its first committee hearing on Monday. One of its provisions specifically addresses the disclosure policy General Motors issued last summer regarding the sale of non-GM service contracts.
Top 5 Articles
1. But the Dude Can Sell!
Overlooking past misdeeds and criminal convictions to land top-performing salespeople puts dealers at risk of losing everything when risky hires revert to old habits.
2. The ’90s Called: They Want Their Presentations Back
Are you still rolling out the old NASCAR close? F&I insider says F&I offices need to get with the times and ditch those ‘Buy it now or bad things will happen’ pitches.
3. Save the Sale Before It Starts
Are your salespeople sabotaging themselves before the sale starts? Dealership expert offers four ways to set them up for a win before the opening gun goes off.
4. A Robust Future for Used-Car Sales and CUs
Credit unions have gained market share as other finance sources have retrenched, creating new incentive to diversify your selection finance sources.
5. F&I in the Era of Digital Darwinism
Darwin Automotive’s Phillip Battista has some strong opinions about digital retailing and online F&I, and he worries some providers — and their dealers — may soon find themselves in legal peril.
 

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