Category: Rumors

The decision to nix the end-of-summer event in 2024 comes just two years after the Traverse City, Mich., specialty auto insurance company moved it to Detroit in a bid to revive it.

With the help of AI, automotive finance and lease businesses are already streamlining processes, improving customer experience and detecting fraud.

Following Wednesday’s Fed meeting, the benchmark rate will remain at the 5.25-5.5 percent level.

Higher sales volume on car dealership lots is inevitably returning. That means more deals being drafted and more customers entering the F&I office.

A lender expanding into new product and service areas such as subscriptions has challenges integrating the new additions into their platform.

Automotive finance fraudsters today are armed with evolving technology and backed by crime syndicates; dealerships will need to be vigilant and innovative to keep up.

I have never understood why captive finance companies’ leasing terms are not structured for accurate depreciation through optimum vehicle disposal periods instead of 24-, 36- or 48-month terms.

The Federal Trade Commission has accused Asbury Automotive of violating the FTC Act and Equal Credit Opportunity Act in the dealership group’s vehicle protection product sales. Asbury denies the allegations.

An Oklahoma man pleaded guilty to three counts related to duping dealers into paying or crediting him with funds based on what authorities called reports of phony former vehicle payoffs.

Tesla’s Chinese team is apparently responsible for the update.