Today on CBTNews.com – Wednesday, March 13th, 2019:
President of CADA Tim Jackson on Fuel Efficiency Standards, Warranty Reimbursement, and the Innovative Dealer Summit
There’s been a lot on the agenda for dealer associations to contend with so far this year. On today’s show, we take a look at Jim’s recent conversation with Tim Jackson, president, and CEO of the Colorado Automobile Dealers Association. They discuss Colorado’s fight for lower fuel efficiency standards, warranty reimbursement, and the Innovative Dealer Summit happening later this month. Watch Now
Auto Loan Interest Rates Continue to Soar
Auto loan interest rates continue to go up, according to a recent Edmunds analysis, with rates reaching their highest in a decade. Looking at the data collected, the annual percentage rate (APR) inched up from last year’s 5.19 percent on new cars to 6.26 percent, marking a 1.7 percent increase from five years ago. For used cars, the climb was more modest, with the APR in 2014 being 8.47 percent and the current one 8.95. Read More
Interview Tips When Hiring F&I Managers – What to Look (and Listen For)
There is plenty of room for debate on whether or not you should hire for F&I from inside the car business or an outside hire, so I won’t go into that here. But for the same reason that the interview process of a buyer is a critical part of success in F&I, so too is the importance of the interview for the F&I manager. This person must be the right fit and yes, sometimes you don’t know until you get them in front of a buyer, but by watching for specific things during the interview, you can help increase your chances of a quality hire that fits your store best. Read More
