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N.Y. Shuts Down Subprime Auto Lender: Condor Capital must pay an estimated $8 million in restitution to harmed customers, a $3 million penalty and admit violations of the Dodd-Frank Act and New York state law. The lender will also surrender its licenses in all states.
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Mass. AG Investigating Santander’s Subprime Lending Business: Massachusetts Attorney General Martha Coakley has ordered Santander Consumer USA to produce documents related to its subprime auto lending business. The AG said she is also looking into the practices of a handful of other auto lenders.
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We Are the 64%: New data proves that nearly two-thirds of dealers who serve subprime customers are being outsold by their competitors. Escape the 64% club by committing to special finance and getting your entire team on board.
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J.D. Power Projects Highest December SAAR in Eight Years: New-vehicle retail sales in December are expected to reach a SAAR of 14.2 million units, the highest level since 2006.
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We Are the 64%: New data proves that nearly two-thirds of dealers who serve subprime customers are being outsold by their competitors. Escape the 64% club by committing to special finance and getting your entire team on board.
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Drive Your Mobile Strategy to Success: Searches initiated on phones and tablets will soon overtake desktop searches. Are you prepared to deliver a relevant experience to mobile users?
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CFPB: Servicemembers Harmed by Loopholes in Military Lending Act: A report released Monday by the regulator highlights how loopholes in the current Military Lending Act rules are racking up the costs of loans for servicemembers.
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Moody’s Sees Silver Lining in Regulatory Scrutiny of Auto Finance: Moody’s expects the performance of new and outstanding auto loan ABS deals to suffer temporarily due to current regulatory activity, but it does see a silver lining in the increased scrutiny of the auto finance marketplace.
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Sales Professional of the Month: Greg Rietz: Lujack Honda’s Greg Rietz gets in early, stays late and follows through on his promises to customers.
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Legal Experts Offer ‘12 Days of Dealership Compliance’: AutoStar Solutions’ Steve Levine shares a dozen simple ways dealers can guard their businesses from the government Grinch.
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Top 3 Questions for Your Service Manager: In the service department, a sales-first mentality can only be achieved by crunching the right numbers and ensuring a thorough inspection is performed on every vehicle.
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DriveTime Selects Manheim, Go Auto Exchange as Remarketing Partners: The partnership makes Manheim and Go Auto Exchange DriveTime’s primary source for remarketing wholesale inventory through its physical locations, mobile auctions and online.
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Your Daily Operations Magazine
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Auto Dealer Monthly Magazine is Your Daily Operations magazine, educating the retail automotive industry on Internet retailing, special finance, automotive sales, automotive service, automotive compliance, special finance, and BHPH.
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