FTC Proposes Survey of Consumer Experience in Financing Auto Purchases through Dealers

The Federal Trade Commission has announced plans to conduct a survey of consumers regarding their experiences in buying and financing automobiles at dealerships, reports JDSUPRA BUSINESS ADVISOR. According to the supplementary information in the notice soliciting comments on the proposed survey, the survey “is intended to inform the [FTC] about current consumer protection issues that may exist ... Read More »

RoadVantage Announces F&I Power Bundle for Retail and Leased Vehicles

AUSTIN – RoadVantage, the fastest-growing provider of F&I programs for the automotive industry, today announced a powerful new addition to its Preferred customizable bundles, making it the most robust program available in the market today for retail and leased vehicles. The enhanced Preferred bundle incorporates environmental interior and exterior coverage, into the coverage already included: tire ... Read More »

S.C. GAP Law Takes Effect

COLUMBIA, S.C. — As of Dec. 1, F&I offices operating in the state have a new set of rules to follow when selling guaranteed asset protection (GAP). While the new law mainly clarifies what GAP is and does, it also defines when the protection can be sold. The state’s Guaranteed Asset Protection Act requires that ... Read More »

Texas Compliance Summit Sets New Standard

Group 1’s F&I Per-Copy Average Jumps $65 in the U.S. Market

HOUSTON — Group 1 Automotive, an international dealer group with outlets in the United States, the United Kingdom and Brazil, raised its consolidated F&I profit per-copy average by $27 to $1,352. The group’s U.S.-based F&I operations continued to live $1,500 per copy. In the United States, the group’s F&I operations averaged $1,515 in F&I per ... Read More »

Dent Wizard Teams Up With F&I Express to Offer Digital Solution for Automotive Dealerships

Digitizing the F&I Process Increases Consumer Satisfaction, According to New Study

ATLANTA – Digitizing the finance and insurance (F&I) process can have lasting, positive impacts on customer satisfaction for automotive retailers, according to a new study from MakeMyDeal and F&I Express. The study, titled The Digital F&I Experience Study, showed that consumers who had one or more digital elements in the F&I experience were more likely to ... Read More »

Dent Wizard Launches Service Plan Covering Pre-Existing Dents

ST. LOUIS — Dent Wizard International has introduced Ding Shield Drive, an appearance service plan sold through dealership service drives and body shops that is designed to protect customers’ investments and enhance customer loyalty. The Ding Shield Drive service plan covers pre-existing dents, reports F&I and Showroom Magazine. Ding Shield Drive’s coverage includes repairs for ... Read More »

F&I Administration Welcomes Aegis Powersports to SCS Auto Platform

CHICAGO – F&I Administration Solutions LLC (F&I Admin), North America’s leading provider of software solutions for the administration of automotive F&I products, has announced that Aegis Powersports will utilize F&I Admin’s SCS Auto platform for the administration of its F&I products. Aegis Powersports was launched in December 2014 as a division of Aegis Specialty Insurance Services, ... Read More »

Lunt to Explain CFPB’s Effect on F&I Products

LAS VEGAS — The organizers of the annual P&A Leadership Summit have announced that The Warranty Group’s Aaron Lunt has agreed to brief attendees on the actions undertaken by the Consumer Financial Protection Bureau (CFPB) at the 2015 event, which is scheduled for Sept. 9–10 at Paris Las Vegas. “We wanted to invite Aaron as ... Read More »