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ST. LOUIS – Wise F&I is expanding their vehicle service contract (VSC) programs with the introduction of WiseMVP, a pre-owned motor vehicle service contract that rounds out Wise F&I’s VSC product suite. WiseMVP provides coverage for vehicles that are up to 20 years old and that have up to 200,000 miles. By offering this type of ... Read More »
Read More →CHICAGO – PayLink Direct and Omnisure Group, two of the nation’s premier specialty finance and customized payment plan providers, announced a merger to create the largest service contract payment plan provider in the United States. Rebecca Howard, Co-Founder and Chief Executive Officer of PayLink Direct and Paul Walder, Co-Founder and Chief Executive Officer of Omnisure ... Read More »
Read More →SAN DIEGO — Global digital marketing provider Search Optics announced the launch of Virtual Business Development Center (VBDC), a turnkey solution for comprehensive automotive dealer lead management. The new offering was designed to improve response times, increase lead conversion rates, and reduce the cost of sale for dealers around the world. VBDC is staffed by ... Read More »
Read More →DETROIT — Ally’s new auto finance marketplace, Clearlane, will soon allow car buyers to complete financing online through a new digital signing capability. Developed by eOriginal, the SmartSign technology will be incorporated into the Clearlane platform in July 2017. It will allow customers to sign and submit their financing documents online or via mobile devices. ... Read More »
Read More →FORT WORTH, Texas — In a scheduled call with investment analysts to announce General Motors Financial Co. Inc.’s first-quarter results, CFO Chris Choate said the process of converting the auto finance company formerly known as AmeriCredit Corp. into GM’s global captive finance company has reached its end. “Our evolution as a full captive is substantially ... Read More »
Read More →WASHINGTON — The Federal Trade Commission (FTC) has launched a new website with articles, videos, and other information aimed at helping small business owners avoid scams and protect their computers and networks from cyberattacks and other threats. “Small businesses are critical to our economic strength, building America’s future, and helping the United States compete in ... Read More »
Read More →SAN DIEGO — Thirteen finance sources representing more than a third of U.S. auto finance originations are looking to take a bite out of fraud. They took part in a roundtable last week to discuss ways to expand participation in a consortium aimed at tackling the estimated $6 billion in annual fraud losses. The Auto ... Read More »
Read More →ATLANTA — Manheim announced the promotion of three experienced leaders to general manager roles: Dave Rathjens at Manheim Lakeland, Greg Milam at Manheim Seattle and Martin Sandoval at Manheim Central California. “Manheim has a strong track record of developing our team members into leaders, and we’re fortunate to have these pros as new general managers,” ... Read More »
Read More →McLEAN, Va. – TEGNA Inc. today announced that its board of directors has approved the previously announced spin-off of Cars.com, which will create two publicly traded companies: TEGNA, a media company with the largest broadcast group among major network affiliates in the top 25 markets, and Cars.com. The spin-off will be affected through a pro ... Read More »
Read More →CHARLOTTE, N.C. — The record per-copy average Sonic Automotive’s F&I operations delivered in the first quarter added $700,000 to total F&I gross. But those gains were entirely offset by lower overall retail sales. On a same-store basis, F&I operations increased F&I profit per unit retailed by $11 from a year ago to $1,370. But with ... Read More »
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