André-Martin Hobbs, Author at DecisioningIT

5 EFG executives offer 5 F&I predictions for 2023

Source: Auto Remarketing – Like when two friends share a serious conversation over their beverage of choice, EFG Companies is trying to be straight with dealers about their F&I prospects this year. EFG said through its annual forecast released on...

January 10, 2023

TransUnion 2023 forecast: Auto finance on surer footing than credit cards & personal loans

Consumer Credit Non-Prime Financing

TransUnion 2023 forecast: Auto finance on surer footing than credit cards & personal loans

Autoremarqueting.com – Auto finance appears to be in a much better state than credit cards and personal loans based on TransUnion’s 2023 Consumer Credit Forecast released on Wednesday. While experts are expecting delinquency rates for credit card and personal loans...

January 4, 2023

Banned, fined Calif. dealer says AG’s office wore him down into settling for $1.7 million

Consumer Credit

Banned, fined Calif. dealer says AG’s office wore him down into settling for $1.7 million

Autonews.com – A California used-vehicle dealer has accepted a decade-long ban from the industry and paid the state $1.7 million as part of a settlement to resolve violations the state says include 650,000 misleading advertisements, 20,000 instances of “power-booking” and...

December 27, 2022

Kia dealer to pay $1.25 million in deceptive practices settlement

Car Dealerships

Kia dealer to pay $1.25 million in deceptive practices settlement

Dan O’Brien Kia, of Concord, N.H., must pay $1.25 million to the New Hampshire attorney general to resolve allegations of unfair and deceptive practices at the dealership. The settlement requires Dan O’Brien Kia to “comply with a series of strict injunctive...

December 23, 2022

J.D. Power: Perception of lender matters in auto finance

Automotive Lending Car Dealerships

J.D. Power: Perception of lender matters in auto finance

Nearly half of customers research vehicle financing prior to executing the loan or lease at a dealership, which means customers’ satisfaction with an individual lender matters, said Patrick Roosenberg, director of automotive finance intelligence at J.D. Power. Source: AutomotiveNews. With...

November 30, 2022

<strong>What will F&I look like in the future? JM&A Group’s Scott Gunnell weighs in</strong>

Automotive Finance

What will F&I look like in the future? JM&A Group’s Scott Gunnell weighs in

Source: CBT News – Scott Gunnell is the new Senior Vice President and Chief Operating Officer at JM&A Group where he has worked for 20 years to provide financing and insurance services to dealerships. The auto group also trains and educates dealers...

November 27, 2022

DecisioningIT announces Steven Landry to its board

As an industry veteran, Landry’s experience will help enhance DecisioningIT’s position and future growth TORONTO, Nov. 14, 2022 /CNW/ – DecisioningIT is proud to welcome automotive veteran Steven Landry to its board of directors. “We’re honored to bring Steven Landry on as our board member,” said Rosa Hoffmann,...

November 14, 2022

Cox Automotive sells Canadian operations of Dealertrack, VinSolutions, Dealer.com, Xtime and KBB to TRADER

TRADER Corp. said Thursday it is acquiring Dealertrack Canada from Cox Automotive’s Canadian retail business, along with the Canadian operations of VinSolutions, Dealer.com, Xtime and Kelley Blue Book. The company said most Canadian Cox Automotive Retail employees will likely move...

November 10, 2022

Fraud

eLEND study: 79% of car dealers lost a vehicle to fraud in past year

Source: Autonews.com An eLEND Solutions poll of more than 700 dealerships — nearly all of which were franchised — revealed 79 percent had an identity fraud-related loss in the past year. Sixty percent lost at least three vehicles due to...

November 8, 2022

Fraud

95% of Dealers are Not Doing Enough in Their Stores or Online to Prevent Fraud

By Ken Hill, Managing Director, 700Credit – Source: https://digitaldealer.com/latest-news/95-dealers-not-enough-stores-online-prevent-fraud/ Yes, it’s true, more people are shopping and buying cars and trucks online. Research firm Frost and Sullivan forecasts six million cars will be sold online around the world in 2025....

November 5, 2022