Dealer Pulse | Auto Finance News

Wells Fargo Explores Switch to Flat-Fee Pricing Model

Wells Fargo & Co. is mulling the switch to a flat-fee dealer compensation model to provide consumers “pricing clarity,” Senior Executive Vice President of Community Banking Mary Mack said at Deutsche Bank’s Global Financial Services Conference last month. “Normally, the response in our industry around pricing clarity is more disclosures,” she said. “What we said […]

Dealers Feel the Pressure of Competition in Used-Car Market

Captives and lenders are feeling confident in the used-vehicle market, but some dealers are feeling the pressure as full-time used-vehicle retailers are making the space more competitive for franchise dealers, Paul Ritchie, president of Hagerstown Honda and Kia, told Auto Finance News. “The dedicated full-time used-car lots, like CarMax, are starting to get into the […]

Dealers Explore Innovative Subscriptions as Old-School Lenders Drive Business

Dealers are increasingly torn between the old-school F&I business of local credit unions and the new-school subscription models. Gary Duncan, one of the owners of the Duncan Automotive Group in Christiansburg, Va., told Auto Finance News that some of his best business is coming from credit unions that can meet the needs of local customers […]

Nissan Dealer Calls on Subprime Lenders to Leverage E-Contracting

Nissan Motor Co. “demands” all of its dealerships to use e-contracting or digital applications, but not all lenders leverage the technology, Saif Kadri, sales manager of Carson Nissan, told Auto Finance News. “A lot of the subprime lenders are not using e-contracting as much as the captives and more prime lenders,” Kadri said, naming AmeriCredit, […]

Honda Dealers Stress Need for Reps, E-Contracting, Lease Packages

Dealers, particularly in the Southeast, have struggled with American Honda Finance’s rollout of electronic contracts and rep turnover, Paul Ritchie, president of Hagerstown Honda and Kia, told Auto Finance News. “They have a lot of new reps and new buyers and they seem to be in training a lot during the day when we need […]

FCA Dealer Excited to Welcome a True FCA Captive

If Fiat Chrysler Automobiles is successful in its endeavors to form an internal captive arm, it would be a boon to the OEMs car sales, Dan Fields, president of Fields Automotive Group, told Auto Finance News. In late May, FCA announced its intentions to form a captive arm and possibly buy the Chrysler Capital portfolio […]

Dealerships, Credit Unions Align on Customer Retention

Credit unions have been growing in the auto finance industry, and one of the reasons that dealerships have been partnering with them is a shared mission to retain customers, dealers told Auto Finance News.  “We want to create lifetime customers, that’s one of our mantras,” Danny Cox, senior director of F&I at Ken Garff Auto Group, […]
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