Category: Rumors
N.Y. dealership sues former finance manager, alleges he accepted kickbacks from extended warranty vendor
A former finance manager took hefty kickbacks from a vendor of extended warranty contracts, according to a lawsuit filed by a New York City dealership.
GM, Barclays sign long-term credit card partnership agreement
Company-branded credit cards can be a major win for banks, as they capitalize on customer loyalty to the partner brand along with offers of attractive perks such as cashback and rewards.
Donald Trump, in Detroit, says he would make interest on car loans tax deductible
He also said if elected, he will invoke a six-year renegotiation provision of the United States-Mexico-Canada Agreement that took effect in 2020.
New-car prices will continue to normalize in 2025
Normalization of supply chains and inventory levels has put pressure on vehicle prices.
Responding to dealer feedback, Santander expands small business auto financing
The lender plans to offer automotive financing primarily to small franchises and startups.
Guest commentary: Sales and F&I efficiency keys to succeeding in today’s automotive market
While challenges remain, dealerships have an opportunity to sell more cars if they commit to better sales training and improving their financing skills and technology.
VW, Wells Fargo tie-up an advantage for dealers
Volkswagen Financial Services will continue to handle leasing and customer service, ensuring minimal disruption for dealers, while Wells Fargo steps in to manage retail financing.
Ally Financial warns of ‘intensifying’ credit challenges, shares slump
Ally Financial warned of challenges that have intensified over the quarter as borrowers struggled with high inflation.
Asbury not the only company to battle the FTC instead of settle, attorney says
Jean Noonan, a partner at the Hudson Cook law firm and a former Federal Trade Commission regulator, discusses settling FTC investigations versus fighting them as the car dealer Asbury Automotive Group has done.
Editorial: When Fed lowers rates, don’t take advantage of customers
The Federal Reserve signaled that the highest interest rates in more than two decades should begin falling soon, providing welcome relief for the auto industry.