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Tag: auto loans

Fraud is on the rise in lending — here’s how to...

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2021 was a year of recovery for the entire automotive industry, and for dealers in particular. Showroom traffic increased even during a once-in-a-generation inventory...
VSC

How to stay competitive with online VSC companies

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Since the pandemic hit, dealers are finding that the landscape of online aftermarket providers has increased, and they are targeting consumers that want to...
PVR

Beyond PVR—dig deeper for greater F&I success

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What does success look like in the F&I department? How should it be measured? PVR (per vehicle retailed) is currently the most examined metric...

Study reveals low financial confidence among consumers—what does this mean for...

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Data United LDS has released the results of its 12-year study surrounding consumers’ debt and the stress that comes with it, which showed that a...
brand

Leveraging the power of your dealer brand with white label F&I

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Even though dealers have to manage multiple competing issues of low inventory, rising lending rates, and a pandemic that is not quite 100% gone,...

How auto dealers can help promote greater financial literacy

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Around half of Americans operate day-to-day with a limited understanding of finances. That's according to the annual Personal Finance (P-Fin) Index study jointly performed by the...

Average down payment for new vehicles climbs over $6,000

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According to Edmunds, the average down payment for new vehicles climbed to over $6,000 for the first time. And it's becoming evident that this...
subprime loans

Subprime loans recover, delinquencies drop in new TransUnion report

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Subprime loans for autos have sprung back to nearly pre-pandemic levels, and fewer borrowers are defaulting on their payments. That’s according to TransUnion’s Q3 2021 Quarterly Credit Industry Insights Report (CIIR) issued on November 3. At the same time, the average car loan balance and monthly payment have increased.  TransUnion’s quarterly report identifies credit industry […]
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floor plan

How can floor plan financing work for used car dealers?

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There are many factors that go into a used car dealership’s success or failure — customer service, management, and just plain ol’ luck — but one of the most overlooked is intelligent floor plan financing. Unfortunately, many dealers ignore the last factor, only realizing their mistake once their business is struggling — or worse, at […]
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car ownership

A look under the hood: the rising cost of car ownership

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As American consumers face surges in both gas and vehicle prices, it’s no secret that the cost of car ownership is rising. But this spike in prices won’t be felt equally throughout the country and, for many Floridians, the pinch will feel especially sharp. Last month, online bill pay company doxo released detailed statistics on […]
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