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Auto Dealer Monthly
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Your Daily Operations Magazine
Your Daily Operations Magazine

240 followers
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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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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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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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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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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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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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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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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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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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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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