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COSTA MESA, Calif. — Experian unveiled the industry’s first tri-bureau trended attributes, which are aimed at giving finance sources a wider view into consumer credit behavior and patterns over time. Ultimately, this helps them expand into new risk segments and better tailor credit offers to meet consumer needs. An Experian analysis shows that custom models ... Read More »
Read More →SANTA MONICA, Calif. — Interest rates on new-vehicle loans were expected to soar to their highest point in eight years in February, Edmunds said last week. The annual percentage rate (APR) on new financed vehicles averaged 5.2% in February. That’s up from 4.9% in 2017 and 4.4% five years ago. Edmunds experts point to an ... Read More »
Read More →IRVINE, Calif. — Kelley Blue Book put February’s estimated average transaction price for light vehicles at $35,444. That’s up $722 from a year ago but down $96 from January. Even with new-vehicle demand expected to continue to slow in 2018, average transactions prices have so far been unaffected this year — though incentives have risen ... Read More »
Read More →LONG BEACH, Calif. — FrogData named Paul Arenson as senior sales consultant, continuing a “rapid expansion,” according to the company. Arenson comes to FrogData with more than two decades of automotive industry experience, most recently at Dealertrack, where he was the recipient of the company’s first-ever Chairman’s Award, which recognizes excellence in the relentless pursuit ... Read More »
Read More →ALEXANDRIA, Va. — The American International Automobile Dealers Association (AIADA) expressed opposition to President Donald Trump’s plan to place a 25% tariff on steel and a 10% tariff on aluminum imports. Both metals are crucial to the production of cars and trucks sold in America today and would raise the sale prices of those vehicles ... Read More »
Read More →GREENSBORO, N.C. — Nearly three years after switching to a flat-fee compensation model in response to the Consumer Financial Protection Bureau (CFPB)’s targeting of dealer participation, BB&T Dealer Financial Services announced to its dealers it will officially return to a dealer spread compensation plan on March 14. The decision, detailed in a Feb. 7 dealer ... Read More »
Read More →ARLINGTON, Texas — DMS provider Autosoft has joined with the National Independent Automobile Dealers Association as a “Bronze”-level national corporate partner. NIADA members can now take advantage of special pricing on Autosoft’s sales and F&I module with inventory management or the full DMS option, which also includes accounting, service and parts, according to the provider. ... Read More »
Read More →NORCROSS, Ga. — ADG EasyCare announced that Richard Yelverton has been hired as an F&I specialist. He is based in Northern Virginia and tasked with supporting EasyCare’s dealer clients by providing in-dealership F&I training and consulting and sitting in for F&I professionals. “As our operation grows and our F&I development program evolves, we are adding to ... Read More »
Read More →DETROIT — Ally’s SmartAuction today announced that it has entered into an agreement with Nissan Motor Acceptance Corporation (NMAC) and Infiniti Financial Services (IFS) to list off-lease Nissan and Infiniti vehicles for sale on its online wholesale auction platform. “We’re thrilled to work with NMAC and IFS to make Nissan and Infiniti vehicles available on ... Read More »
Read More →IRVINE, Calif. — Five General Motors vehicles from the 2018 model year made Kelley Blue Book’s “2018 5-Year Cost to Own” list, while four Toyota and Lexus vehicle made the vehicle information site’s annual list. The firm named Hyundai as the brand with the lowest cost to own and Acura as the lowest cost luxury ... Read More »
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