Tag: auto finance
New vehicle affordability declines in November, but still better than 2023
According to the latest Cox Automotive/Moody's Analytics Vehicle Affordability Index data, new vehicle affordability declined slightly in November. Despite factors that should increase affordability,...
Auto credit availability improved across all channels in October
The Dealertrack Credit Availability Index showed a rise in auto credit availability across all channels and lender types in October. The All-Loans Index reached...
Navigating vehicle affordability challenges in 2024
The automotive industry is constantly evolving, influenced by market conditions, consumer preferences, and various economic factors. The current affordability crisis is no exception, as...
Don’t wait to correct F&I mistakes–acting quickly benefits everyone
With so many people involved in every car deal, there are several ways that things can go sideways. Between sales, F&I, delivery, etc…breakdowns can...
Closing in F&I starts with a strong opening
Most salespeople judge their entire career by how good of a closer they are. In F&I specifically, closing more deals with higher rates and...
Digital engagement is crucial for customer satisfaction and cost savings
Digital channels have emerged as the most efficient and effective way for auto lenders to maintain or grow their profitability despite the current macroeconomic...
(Presumed) tough times mean a back-to-basics approach
The R-word. The one no dealer wants to hear and well…none of us want to think about it.
Recession.
And though most economists are saying we’re...
How to make F&I meetings a home run for everyone
Who likes meetings? Not many of you reading this right now have department meetings at the top of your list of fun things to...
The time is now for F&I transparency
Even before the pandemic, the auto industry was undergoing a transformation. Operations like CarMax and Carvana were delivering "no surprise" experiences to customers, while Tesla sought to skip...
More cash deals than ever in ’23—How to turn a negative...
‘I can’t wait to take the next cash deal!’ said no F&I manager EVER.
Most see them as a ‘dead’ deal where there is little...