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regulation and compliance

Mired in Regulation. Vital Information about Compliance

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When it comes to compliance, significant attention has been paid to the Consumer Financial Protection Bureau (CFPB). And while this is all well and good, the fact is, there are several other federal, state and local agencies that regulate the retail automotive industry. While the CFPB is often in the limelight, it’s likely the other […]
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GAP loss

What’s behind GAP loss ratios?

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For those dealers who participate in reinsurance and follow loss ratios, you’ve probably seen a spike of increasing Guaranteed Asset Protection contracts within the last couple years. At EFG Companies, we have been analyzing this trend very carefully. Let’s review what’s happening in the market to cause this trend. But first, let’s give this topic […]
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auto show

As the Automotive Market Turns

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Since 2011, the automotive industry has undergone rapid growth and rapid change, with an average 8.3 percent year-over-year increase in unit sales, the loosening of credit standards increasing the subprime market, and record-low interest rates, according to Wards Auto,. Meanwhile, customers have been keeping their vehicles longer, forever changing the buying cycle of vehicles and […]
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F&I

How to Use F&I to Grow Income Potential

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A Team Approach to F&I In The Service Drive By John Stephens Coming out of the 2016 NADA Convention, one of the most discussed topics was the importance of F&I and fixed operations in a sales environment that has the potential to plateau. Everyone from Roger Penske, chairman of Penske Automotive Group, to Bob Carter, […]
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Do your sales and service employees know the F&I products you...

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We’re in the final month of the year, so a lot of dealerships are busy assessing plans for 2016 – including figuring out ways to be more profitable. Wards.com suggests one of the most important drivers of profitability in your dealership is the F&I department. John Stephens, Senior VP of Dealer Services with EFG Companies, says […]
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