F&I Menu Presentations | Key Areas of Focus | Finding Success

For an F&I manager to be successful, they must have extensive product knowledge, be able to build value in their products, and follow a consistent sales process. In this blog post, we'll explore the importance of F&I training and how it can help managers excel in their roles. Building Value in Products through Product Knowledge One of the most important aspects of F&I training is building product knowledge. F&I managers must have a deep understanding of the products they sell, including the benefits they offer, the features that set them apart, and the potential risks they protect against. By having this knowledge, F&I managers can confidently present the products to customers and explain why they are valuable. This, in turn, helps customers see the value in the products and can lead to more sales. Using Stories and Experiences Another key component of F&I training is learning how to use stories and experiences to build value in products. People are naturally drawn to stories, and F&I managers can use this to their advantage by sharing examples of how the products they sell have helped other customers. For example, an F&I manager might tell a story about a customer who purchased an extended warranty and ended up saving thousands of dollars in repair costs. By sharing stories like this, F&I managers can help customers see how the products they offer can provide peace of mind and protect against unexpected expenses. Following a Process to Build Consistency Finally, F&I training should focus on developing a consistent sales process. This involves developing a step-by-step approach to presenting products, addressing objections, and closing sales. By having a consistent process, F&I managers can ensure that they are presenting the products in the most effective way possible and that they are providing a consistent experience for all customers. This consistency can lead to improved sales and customer satisfaction. By building product knowledge, using stories and experiences to create value, and following a consistent sales process, F&I managers can excel in their roles and provide a valuable service to customers. Having consistent F&I training can lead to improved sales, customer satisfaction, and overall success for a dealership. At Elite FI Partners, we understand the importance of F&I training and coaching. That's why we offer comprehensive training programs designed to help F&I managers build product knowledge, develop effective sales techniques, and create a consistent approach to presenting products. With our training programs, dealerships can ensure that their F&I managers have the skills and knowledge necessary to excel in their role and provide a high level of service to customers. Contact us today to learn more about how Elite FI Partners can help your dealership succeed.
https://www.elitefipartners.com/post/f-i-menu-presentations-key-areas-of-focus-finding-success?utm_source=dlvr.it&utm_medium=blogger

ZeroSum Dealers’ Market First Report: 2022 Automotive Inventory Trends That Matter in 2023

From inventory and pricing trends to future predictions, this report provides everything auto dealers need to know to prepare for a successful year in 2023.
https://www.fi-magazine.com/369618/zerosum-dealers-market-first-report-2022-automotive-inventory-trends-that-matter?utm_source=dlvr.it&utm_medium=blogger

New-Car Sales Up in February

Report shows records set this month for average price.
https://www.fi-magazine.com/370177/new-car-sales-up-in-february?utm_source=dlvr.it&utm_medium=blogger

State of the Automotive Finance Market: Q3 2022

New Experian report finds average loan terms extend for new and used vehicle loans as interest rates rise.
https://www.fi-magazine.com/369620/state-of-the-automotive-finance-market-q3-2022?utm_source=dlvr.it&utm_medium=blogger

Our Story | Elite FI Partners

Our approach is centered on partnering with growth-oriented dealers driven to succeed. Our primary goal is to help our dealer partners generate tax-efficient wealth through cutting-edge F&I products, comprehensive training, and ongoing support. By implementing established procedures within the dealership, we promote accountability and prioritize customer satisfaction to enhance the overall experience. We are Elite FI! https://www.elitefipartners.com/ourstory?utm_source=dlvr.it&utm_medium=blogger
https://www.elitefipartners.com/ourstory?utm_source=dlvr.it&utm_medium=blogger

Vehicle Affordability a Rising Concern

Average manufacturer retail price nearly $50K, with some models exceeding six figures and $75K pickups the norm.
https://www.fi-magazine.com/370152/vehicle-affordability-a-rising-concern?utm_source=dlvr.it&utm_medium=blogger

US EV Sector Winner in Charger System Expansion

Analysis finds Tesla would be both winner and loser.
https://www.fi-magazine.com/370153/us-ev-sector-winner-in-charger-system-expansion?utm_source=dlvr.it&utm_medium=blogger

CPO Sales Expected to Drop Again This Year

Leasing’s decline behind forecast.
https://www.fi-magazine.com/370167/cpo-sales-expected-to-drop-again-this-year?utm_source=dlvr.it&utm_medium=blogger

Lawmakers Seek Help to Prevent Crashes

Implore transportation secretary to work with carmakers to deploy connected-car technology.
https://www.fi-magazine.com/369624/lawmakers-seek-help-to-prevent-crashes?utm_source=dlvr.it&utm_medium=blogger

Texas Discretionary Allocation Suit Decided

Court rules that Hyundai’s discretionary allocations weren’t unreasonable.
https://www.fi-magazine.com/369625/texas-discretionary-allocation-suit-decided?utm_source=dlvr.it&utm_medium=blogger

Stellantis Finance Unit Ramps Up

More and more dealers signing onto captive service.
https://www.fi-magazine.com/369633/stellantis-finance-unit-ramps-up?utm_source=dlvr.it&utm_medium=blogger

Tougher Standards Mean Fewer IIHS Safety Awards

Fewer vehicles earned the honor in 2023 than last year as group toughens safety evaluation standards.
https://www.fi-magazine.com/370155/tougher-safety-standards-lead-to-fewer-iihs-safety-awards?utm_source=dlvr.it&utm_medium=blogger

Meet Julio Mendoza | Product Specialist with Elite FI Partners

Julio Mendoza is a product specialist at Elite FI Partners, a leading provider of F&I products and services to dealerships nationwide. Julio is a bilingual expert in the automotive finance industry, bringing industry-leading products, training, support, finance manager coaching, and profit-sharing programs to dealers. In this post, we'll explore Julio's background and expertise, and how he can help your dealership succeed. Julio has over 6 years of experience in the automotive industry and has spent the last few years specializing in F&I product sales and training. He is an expert in all aspects of F&I, including VSCs, GAP, and multiple other F&I products. With his bilingual abilities, Julio can communicate effectively with Spanish-speaking customers, expanding your dealership's reach and making your customer's experience more comfortable. Julio is passionate about providing excellent customer service and helping dealerships increase their profitability. He works closely with dealership finance managers, providing coaching and support to help them achieve their sales goals. His focus is on building relationships with his clients, understanding their unique needs, and tailoring his approach to help them succeed. One of the primary reasons why Julio is an asset to any dealership is his expertise in industry-leading products. Elite FI Partners offers a wide range of F&I products designed to meet the needs of today's customers. With Julio's guidance, your dealership can offer the latest and most innovative products to your customers, helping you stand out from your competitors. Another significant advantage of working with Julio and Elite FI Partners is their transparent profit-sharing program. The program ensures that the dealer and the finance manager both benefit from each sale, creating a win-win situation for everyone involved. This approach encourages dealership finance managers to sell more F&I products, leading to increased profitability for both the dealer and the finance manager. Finally, Julio and Elite FI Partners provide comprehensive training and support to dealerships. Their training programs cover all aspects of F&I sales, including product knowledge, customer service, and objection handling. They provide both in-person and online training, making it easy for finance managers to access the training they need to succeed. In conclusion, Julio Mendoza is an expert in F&I product sales and training, and he is an asset to any dealership. With his bilingual abilities, industry-leading products, transparent profit-sharing program, and comprehensive training and support, Julio can help your dealership succeed. Contact Julio and Elite FI Partners today to learn more about how they can help your dealership increase its profitability and achieve its sales goals.
https://www.elitefipartners.com/post/meet-julio-mendoza-product-specialist-with-elite-fi-partners?utm_source=dlvr.it&utm_medium=blogger

Report Shows Brand-Loyal Women Have Clear Favorites

Buick, Toyota rank high, trucks low, in key buyer segment.
https://www.fi-magazine.com/370156/report-shows-brand-loyal-women-have-clear-favorites?utm_source=dlvr.it&utm_medium=blogger

Looking for a new F&I product and training provider?

If you're a dealer looking for a new F&I product provider, it can be challenging to know where to start. The F&I industry is highly competitive, with many providers offering similar products and services. However, not all providers are created equal, and choosing the right partner can have a significant impact on your dealership's success. In this blog post, we'll discuss the key factors to consider when selecting an F&I product provider, and why Elite FI Partners is an excellent choice. Firstly, the quality of training and support offered by an F&I product provider is crucial. A provider that offers comprehensive training and ongoing support can help dealerships improve their sales processes and increase profitability. Elite FI Partners is a leader in F&I training and support, with a team of experienced trainers who can help dealerships achieve their sales goals. They offer both in-person and online training programs to ensure that dealerships have the knowledge and skills needed to succeed. Secondly, the products offered by an F&I product provider are essential. Elite FI Partners offers industry-leading products that are designed to meet the needs of dealerships and their customers. From vehicle service contracts to theft protection and appearance protection, Elite FI Partners has a wide range of products that can help dealerships increase their revenue and improve customer satisfaction. Thirdly, the profit-sharing program offered by an F&I product provider is another important factor to consider. Elite FI Partners offers a transparent profit-sharing program that ensures dealerships clearly see and understand the profits generated by their F&I products. They provide detailed reporting on product sales and profit sharing, so dealerships have complete visibility into their F&I performance. In addition to these key factors, Elite FI Partners is known for its exceptional customer service. Their team is dedicated to providing dealerships with personalized support and attention to help them achieve their goals. They take the time to understand each dealership's unique needs and tailor their services to meet those needs. Another advantage of working with Elite FI Partners is their commitment to compliance. They stay up-to-date on all state and federal regulations and ensure that their products and services comply with these regulations. This commitment to compliance helps dealerships avoid costly fines and legal issues. In conclusion, choosing the right F&I product provider is essential for dealerships looking to increase their revenue and improve customer satisfaction. Elite FI Partners is an excellent choice for dealerships looking for a new F&I product provider. Their industry-leading products, comprehensive training and support, transparent profit-sharing program, exceptional customer service, and commitment to compliance make them a trusted partner for dealerships across the country. Contact Elite FI Partners today to learn more about how they can help your dealership succeed.
https://www.elitefipartners.com/post/looking-for-a-new-f-i-product-and-training-provider?utm_source=dlvr.it&utm_medium=blogger

Is it time for a check up on your Reinsurance or DOWC?

When it comes to choosing a reinsurance or Dealer-Owned Warranty Company (DOWC), there are several critical areas that dealerships should consider to ensure they select the right provider. In this blog post, we will discuss the key factors to review when choosing a reinsurance or DOWC provider. Firstly, the reputation of the provider is of utmost importance. It's crucial to research providers online, read customer reviews, and seek referrals from other dealerships. A provider with a positive reputation is more likely to provide quality service and deliver on their promises. Secondly, the financial stability of potential reinsurance or DOWC providers should be reviewed. Providers with a strong financial standing are more likely to pay out claims and provide adequate support to dealerships. It's also essential to review the provider's track record for claim payments to ensure they have a good history of fulfilling their obligations. Thirdly, dealerships should evaluate the product offerings of potential reinsurance or DOWC providers. A provider with a broad range of products can help dealerships offer a variety of options to customers and increase sales. Dealerships should also ensure that the provider's products are in line with their customers' needs and comply with state and federal regulations. Fourthly, the claims process of potential reinsurance or DOWC providers should be reviewed. Dealerships should ensure that the provider's claims process is efficient and customer-friendly. A streamlined claims process can improve customer satisfaction and help dealerships retain customers. Lastly, the training and support provided by potential reinsurance or DOWC providers should be evaluated. A provider that offers comprehensive training and ongoing support can help dealerships improve their sales processes and increase profitability. Dealerships should also ensure that the provider offers adequate support in the event of a claim. When working with Elite FI Partners, dealerships can expect a thorough review of their current reinsurance or DOWC program, based on the key metrics outlined above. This evaluation provides dealerships with a detailed report of their program's strengths and weaknesses, with actionable steps to improve it. If a dealership does not currently have a reinsurance or DOWC program, Elite FI Partners can help set one up. They will work with the dealership to evaluate their customer base, product offerings, and compliance requirements to develop a customized program that meets their specific needs. In addition to reviewing and setting up reinsurance and DOWC programs, Elite FI Partners also offers comprehensive training and support to dealerships. Their experienced F&I trainers can help dealerships improve their sales processes and increase profitability, with ongoing support to ensure successful implementation of the new program. Elite FI Partners is a transparent and cost-effective choice for dealerships looking to review and set up reinsurance or DOWC programs. Their detailed breakdown of program costs ensures that dealerships can make informed decisions and get the best value for their investment. In conclusion, choosing the right reinsurance or DOWC provider is crucial for dealerships. By evaluating the reputation, financial stability, product offerings, claims process, and training and support of potential providers, dealerships can make informed decisions to set themselves up for long-term success. Working with Elite FI Partners is an excellent choice for dealerships looking to review and set up reinsurance or DOWC programs, as they offer a transparent and comprehensive service with a proven track record of success.
https://www.elitefipartners.com/post/is-it-time-for-a-check-up-on-your-reinsurance-or-dowc?utm_source=dlvr.it&utm_medium=blogger

Meet Julio Mendoza | Product Specialist with Elite FI Partners

Julio is a bilingual expert in the automotive finance industry, bringing industry-leading products, training, support, finance manager coaching, and profit-sharing programs to dealers. In this post, we'll explore Julio's background and expertise, and how he can help your dealership succeed. #WeAreEliteFI https://www.elitefipartners.com/post/meet-julio-mendoza-product-specialist-with-elite-fi-partners?utm_source=dlvr.it&utm_medium=blogger
https://www.elitefipartners.com/post/meet-julio-mendoza-product-specialist-with-elite-fi-partners?utm_source=dlvr.it&utm_medium=blogger

Compliance in the F&I office

As a Finance Manager in the automotive industry, you play a vital role in finalizing a vehicle sale. You work closely with customers to provide them with financing options and necessary paperwork. However, compliance in the F&I office is of utmost importance. It is essential for you to ensure that your dealership is following all relevant rules and regulations. This article will discuss compliance in the F&I office, including training and the governmental agencies that oversee and monitor dealerships. Compliance in the F&I office Compliance refers to the adherence to rules and regulations that govern the automotive industry. Compliance in the F&I office ensures that dealerships operate ethically, transparently, and within the boundaries of the law. Failure to comply with regulations can lead to legal issues, financial penalties, and harm to a dealership's reputation. Training for Compliance in the F&I Office To ensure compliance in the F&I office, finance managers must undergo training. This training is essential to provide an understanding of the rules and regulations that apply to the automotive industry. Training should cover state and federal regulations, such as the Truth in Lending Act (TILA), the Gramm-Leach-Bliley Act (GLB), and the Fair Credit Reporting Act (FCRA). It should also include training on dealership policies and procedures. Training should be ongoing, as rules and regulations can change frequently. New employees should receive thorough training, and all staff should receive regular updates to stay updated with any changes. Governmental Agencies that Oversee and Monitor Dealerships Several governmental agencies oversee and monitor dealerships to ensure compliance with rules and regulations. These agencies include: * Federal Trade Commission (FTC): The FTC is a federal agency that works to promote consumer protection and prevent anticompetitive business practices. The FTC enforces a wide range of federal consumer protection laws, including laws related to the automotive industry. Specifically, the FTC oversees and enforces the Truth in Lending Act (TILA), which requires dealerships to provide consumers with accurate and clear information about the cost of credit. The TILA ensures that consumers have a clear understanding of the terms and conditions of any financing they receive from a dealership. * Consumer Financial Protection Bureau (CFPB): The CFPB is a federal agency that was established to protect consumers in the financial marketplace. The CFPB has jurisdiction over a broad range of financial products and services, including those related to automotive sales. The CFPB oversees and enforces the Fair Credit Reporting Act (FCRA), which protects consumers' financial information by ensuring that it is collected and used responsibly. The CFPB also oversees and enforces the Gramm-Leach-Bliley Act (GLB), which requires financial institutions to protect the privacy of their customer's personal information. * State Attorneys General: Each state has an Attorney General's office that is responsible for enforcing state laws related to consumer protection. State Attorneys General investigate and prosecute violations of state consumer protection laws, including those related to automotive sales. These laws can vary from state to state, so it is essential for dealerships to be aware of the laws that apply in their specific state. * Department of Justice (DOJ): The DOJ is a federal agency that is responsible for enforcing federal laws and prosecuting criminal activities. The DOJ has jurisdiction over various federal laws, including those related to automotive sales. The DOJ can prosecute dealerships for violating federal laws, such as the Racketeer Influenced and Corrupt Organizations Act (RICO), which prohibits organized criminal activities. Conclusion Compliance in the F&I office is crucial for dealerships. It ensures that dealerships operate ethically, transparently, and within the boundaries of the law. Finance managers must undergo training to understand the rules and regulations that apply to the automotive industry. Federal and state government agencies oversee and monitor dealerships to ensure compliance. By adhering to the rules and regulations, dealerships can maintain a positive reputation, avoid legal issues, and protect the interests of their customers.
https://www.elitefipartners.com/post/compliance-in-the-f-i-office?utm_source=dlvr.it&utm_medium=blogger

Compliance Regulations in the Automotive Finance Department

The automotive finance industry is subject to a variety of regulations designed to protect consumers and ensure fair lending practices. Compliance with these regulations is essential to avoiding legal liabilities and maintaining the integrity of your organization. In this article, we'll explore some of the most important regulations that apply to the automotive finance department and provide tips on how to ensure compliance. Truth in Lending Act (TILA) The Truth in Lending Act (TILA) is a federal law that requires lenders to disclose the terms and costs of credit to consumers. Under TILA, lenders must provide borrowers with a written disclosure statement that includes the annual percentage rate (APR), the finance charge, and the total amount of the loan. Additionally, lenders must provide borrowers with a notice of their right to cancel the loan within three days of signing. To ensure compliance with TILA, automotive finance managers should review and update their disclosure policies and procedures on a regular basis. They should also provide training to employees on the requirements of TILA and ensure that all loan documents are reviewed for accuracy and completeness. Fair Credit Reporting Act (FCRA) The Fair Credit Reporting Act (FCRA) is a federal law that regulates the collection, use, and distribution of credit information. Under the FCRA, lenders are required to obtain written consent from borrowers before obtaining their credit reports. To ensure compliance with the FCRA, automotive finance managers should implement policies and procedures that ensure borrowers are fully informed of their rights under the FCRA. Managers should also conduct regular training sessions with employees to ensure they understand the requirements of the FCRA. Equal Credit Opportunity Act (ECOA) The Equal Credit Opportunity Act (ECOA) is a federal law that prohibits lenders from discriminating against borrowers on the basis of race, gender, religion, or other protected characteristics. Under the ECOA, lenders must evaluate credit applications based on the borrower's creditworthiness and not on any prohibited factors. To ensure compliance with the ECOA, automotive finance managers should implement policies and procedures that promote fair lending practices. Managers should also conduct regular training sessions with employees to ensure they understand the requirements of the ECOA and do not engage in discriminatory lending practices. By ensuring compliance with TILA, FCRA, and ECOA, automotive finance managers can reduce their risk of legal liabilities and protect the reputation of their organization. To achieve compliance, managers should review and update their policies and procedures on a regular basis, provide training to employees, and monitor their operations for any potential compliance issues.
https://www.elitefipartners.com/post/compliance-regulations-in-the-automotive-finance-department?utm_source=dlvr.it&utm_medium=blogger

Best Practices for Compliance with Auto Finance Regulations

Auto finance regulations are complex and constantly changing, which can make it difficult for finance managers to ensure that their operations are fully compliant. Failure to comply with these regulations can result in costly fines, legal liabilities, and damage to a company's reputation. Therefore, it is essential that auto finance managers stay up-to-date on all relevant regulations and implement best practices to ensure compliance. Here are some key best practices to follow: * Develop a Compliance Management System (CMS) A CMS is a set of policies and procedures that are designed to ensure that a company's operations are compliant with all applicable regulations. An effective CMS should be tailored to the specific needs of the organization and should include a risk assessment, policies and procedures, training programs, and an auditing and monitoring system. * Conduct Thorough Due Diligence on All Parties Involved in Financing Transactions Auto finance managers should conduct thorough due diligence on all parties involved in financing transactions, including borrowers, dealerships, and third-party vendors. This due diligence should include verifying information provided by these parties, such as income, employment, and credit history, and should also include a review of any previous legal or regulatory issues. * Implement Comprehensive Underwriting Criteria Auto finance managers should implement comprehensive underwriting criteria that take into account all relevant factors, including credit history, income, employment, and debt-to-income ratio. These criteria should be consistently applied to all borrowers, regardless of their race, gender, or other protected characteristics. * Provide Clear and Accurate Disclosures to Borrowers. Auto finance managers should provide clear and accurate disclosures to borrowers regarding the terms of their loans, including the interest rate, fees, and any other charges. These disclosures should be easy to understand and should be provided in a format that is accessible to all borrowers. * Train Employees on Compliance Policies and Procedures Auto finance managers should train all employees on the company's compliance policies and procedures. This training should be ongoing and should cover all relevant regulations, as well as any updates or changes to these regulations. * Conduct Regular Audits and Monitoring Auto finance managers should conduct regular audits and monitoring of their operations to ensure that they are fully compliant with all applicable regulations. These audits should be conducted by an independent third party and should cover all aspects of the company's operations, including underwriting, servicing, and collections. In conclusion, auto finance managers need to implement best practices to ensure that their operations are fully compliant with all applicable regulations. By developing a comprehensive CMS, conducting thorough due diligence, implementing comprehensive underwriting criteria, providing clear and accurate disclosures, training employees on compliance policies and procedures, and conducting regular audits and monitoring, auto finance managers can mitigate the risk of non-compliance and ensure the long-term success of their operations.
https://www.elitefipartners.com/post/best-practices-for-compliance-with-auto-finance-regulations?utm_source=dlvr.it&utm_medium=blogger

Honda Accord Touring Model to Include Android Automotive

The automaker’s top of the line Touring model Accord will come with “Google built-in” in 2023.
https://www.fi-magazine.com/369635/honda-accord-touring-model-to-include-android-automotive?utm_source=dlvr.it&utm_medium=blogger

The Chameleon

A chameleon is best known for its ability to change colors, camouflage, and adapt to its environment. And some of the best sales representatives and finance managers are like chameleons. They focus on adapting their sales pitch to resonate in a way a client best receives it. Your customers have different personalities and come from various backgrounds that have shaped how they think, engage, interpret, and most importantly, how they make buying decisions. In my time in the finance chair, I have come across customers who want to know every detail. They want to know exactly what is covered, how long it's covered, and the limits to the coverage. I have also come across customers who simply want to know they have the best coverage and are not concerned about the details. So what does it mean to be a chameleon? It is the ability to recognize what influences a decision-maker. While simultaneously adjusting your presentation with content that resonates and confidently delivers your message. Sounds simple right? Here are the three steps to becoming a chameleon. Step 1 Recognize what influences the buyer The key is to recognize what type of buyer you are dealing with. You will have to listen, ask more questions, and get to know them a little bit. You are looking for signs that show you characteristics of how they make decisions and what influences them. Is it emotion, data & metrics, reviews, price, speed, convenience or brand recognition? Often buyers are influenced by a couple of factors. Come up with 3-4 questions you include periodically throughout your discovery phase of the sales process. Don't be afraid to be straightforward. Step 2 Adjust your pitch Act quickly and adjust on the fly. You will have to find a balance that works for you and will be impactful throughout your time with your customer. This is where sales and sports are very similar. Think of it as you are the head coach of a sports team. The coach will attempt to recognize the opposing team's tendencies and then make adjustments throughout the game. Step 3 Execute the adjusted plan If you have completed the first two steps, it is time to bring it all together. You have a vision for what impacts the buyer and creates relevant value. Be confident, answer every question, and give examples that resonate with what influences their buying tendencies.
https://www.elitefipartners.com/post/the-chameleon?utm_source=dlvr.it&utm_medium=blogger

Jacob Melson | New Employee Spotlight

Jake started his career in the automotive industry in 2015. As a second-generation car guy, Jake grew up in dealerships. With his youngest memories of being in the showroom and watching the hustle and bustle with eagerness in his eyes, Jake always knew he was meant to be in the dealership world. In 2020 Jake was promoted to a full-time finance role. Over the next 2 years, he learned as much as he could before accepting an opportunity at a much larger company, where he was consistently a lead performer. It was during this time that he realized his true passion for the finance office was in cultivating and developing others to grow and perform at a higher level.
https://www.elitefipartners.com/post/jacob-melson-new-employee-spotlight?utm_source=dlvr.it&utm_medium=blogger

BMW Takes Top Spot in Consumer Reports Ranking

BMW overtook Subaru to take the top spot in Consumer Reports’ annual ranking of top automotive brands for performance, safety and reliability.
https://www.fi-magazine.com/370100/bmw-takes-top-spot-in-consumer-reports-ranking?utm_source=dlvr.it&utm_medium=blogger

E INC Names Lisa Scott EBlock President

She, leadership team to unify EBlock into single marketplace bringing land and technology together.
https://www.fi-magazine.com/370106/e-inc-names-lisa-scott-eblock-president?utm_source=dlvr.it&utm_medium=blogger

Used-Vehicle Supply Drops in January

Pushes wholesale prices higher.
https://www.fi-magazine.com/370108/used-vehicle-supply-drops-in-january?utm_source=dlvr.it&utm_medium=blogger

Automaker Favors Varied Auto Lineup to All EVs

Toyota Motor Corp. President Akio Toyoda says there is a silent majority who question whether automakers should pursue electric vehicles exclusively.
https://www.fi-magazine.com/369636/automaker-favors-varied-auto-lineup-to-all-evs?utm_source=dlvr.it&utm_medium=blogger

EV Tax Credit Guidance Delayed

Controversial rules on battery component sourcing anticipated by carmakers.
https://www.fi-magazine.com/369642/ev-tax-credit-guidance-delayed?utm_source=dlvr.it&utm_medium=blogger

USPS to Electrify Much of Delivery Fleet

It will buy at least 66K EVs by 2028.
https://www.fi-magazine.com/369644/usps-to-electrify-much-of-delivery-fleet?utm_source=dlvr.it&utm_medium=blogger

Flock Invests in Data Science, IT

Hires focus on data-driven insights and innovation.
https://www.fi-magazine.com/370112/flock-invests-in-data-science-it?utm_source=dlvr.it&utm_medium=blogger

Black Book: Weekly Market Report

With the holidays approaching, auction lanes are following the trend of past weeks of being slow.
https://www.fi-magazine.com/369646/black-book-weekly-market-report-3?utm_source=dlvr.it&utm_medium=blogger

Auto Dealership Buy/Sell Stays Hot with Yet Another Record in 2022

According to Third Quarter 2022 Blue Sky Report® by Kerrigan Advisors, dealership buy/sells increase 25% YoY as auto retailers overcome economic headwinds to achieve a 205% increase in earnings compared to pre-pandemic averages.
https://www.fi-magazine.com/369648/auto-dealership-buy-sell-stays-hot-with-yet-another-record-in-2022?utm_source=dlvr.it&utm_medium=blogger

Dealers Get December Gift of Good Business

Forecast shows rising sales, inventory, and good 2023 outlook.
https://www.fi-magazine.com/369653/dealers-getting-december-gift-of-good-business?utm_source=dlvr.it&utm_medium=blogger

Bloomberg Names Hyundai World’s 3rd-Biggest Carmaker

Data analysis puts South Korean brand’s volume above GM, other big players.
https://www.fi-magazine.com/369655/bloomberg-names-hyundai-worlds-3rd-biggest-carmaker?utm_source=dlvr.it&utm_medium=blogger

Power-Sports Lifetime Battery Protection Debuts

Program ensures replacement coverage for new and used batteries.
https://www.fi-magazine.com/370088/power-sports-lifetime-battery-protection-debuts?utm_source=dlvr.it&utm_medium=blogger

Compliance Offering for Dealerships Released

Reynolds and Reynolds/Proton Dealership IT offer tools for compliance, security ahead of FTC Safeguards Rule deadline.
https://www.fi-magazine.com/369662/compliance-offering-for-dealerships-released?utm_source=dlvr.it&utm_medium=blogger

5 Automakers Handled Half of All EV Sales in 2022

According to EV-Volumes data, from Jose Pontes, five OEMs handled more than half of all EV sales.
https://www.fi-magazine.com/370072/5-automakers-handled-half-of-all-ev-sales-in-2022?utm_source=dlvr.it&utm_medium=blogger

Security Ops Center Planned at Reynolds HQ

State-of-the art facility to enhance Proton Dealership IT’s cyber threat monitoring and response services.
https://www.fi-magazine.com/369668/security-ops-center-planned-at-reynolds-hq?utm_source=dlvr.it&utm_medium=blogger

Audi to Abandon ICE Vehicles

Joins growing list of carmakers embracing electrification.
https://www.fi-magazine.com/369664/audi-to-abandon-ice-vehicles?utm_source=dlvr.it&utm_medium=blogger

GM Plans to Invest in Lithium Mine

Stake would give it access to one of world’s biggest stores of key EV battery element.
https://www.fi-magazine.com/370044/gm-plans-to-invest-in-lithium-mine?utm_source=dlvr.it&utm_medium=blogger

Plant Gets $2B Government Loan for EV Component Production

Expanded plant to support production of more than a million EVs a year.
https://www.fi-magazine.com/370048/plant-gets-2b-government-loan-for-ev-component-production?utm_source=dlvr.it&utm_medium=blogger

CarMax’s Bad Q3 Results Drag Down Industry

Used-car retailer grapples with waning demand in face of economic challenges.
https://www.fi-magazine.com/369666/carmaxs-bad-q3-results-drag-down-industry?utm_source=dlvr.it&utm_medium=blogger

Impacts of a Down Economy

It is not clear how current economic conditions will affect vehicle sales, auto lending and remarketing over the next 12 months.
https://www.fi-magazine.com/369670/impacts-of-a-down-economy?utm_source=dlvr.it&utm_medium=blogger

F&I Tip of the Week: Primary Responsibility

Join Brown & Brown Dealer Services' John Tabar, here with this F&I Tip of the Week.
https://www.fi-magazine.com/368673/fi-tip-of-the-week-primary-responsibility?utm_source=dlvr.it&utm_medium=blogger

Car Prices to Ease in 2023

Report shows used models in particular to fall as new-car inventory improves.
https://www.fi-magazine.com/369676/car-prices-to-ease-in-2023?utm_source=dlvr.it&utm_medium=blogger

SUVs Move Up Luxe Shoppers’ List

Q4 hop still off last year. Buick Enclave top pick.
https://www.fi-magazine.com/370046/suvs-move-up-luxe-shoppers-list?utm_source=dlvr.it&utm_medium=blogger

F&I Tip of the Week: Sharing New Information to Show Value

Join Brown and Brown Dealer Services' John Tabar, with this F&I Tip of the Week!
https://www.fi-magazine.com/368630/fi-tip-of-the-week-sharing-new-information-to-show-value?utm_source=dlvr.it&utm_medium=blogger

Massachusetts AG Enters Two Settlements with Auto Industry

The AG’s Office settled with Toyota Motor Credit Corp. for illegal auto finance collection practices and Hometown Auto Framingham for discriminatory prices of add ons.
https://www.fi-magazine.com/370032/massachusetts-ag-enters-two-settlements-with-auto-industry?utm_source=dlvr.it&utm_medium=blogger

Supply Chain Disruptions Affected Volkswagen Cash Flow in 2022

Volkswagen AG reported its cash flow fell short of expectations as supply chain snags led to higher unsold inventory at year’s end.
https://www.fi-magazine.com/370033/supply-chain-disruptions-affected-volkswagen-cash-flow-in-2022?utm_source=dlvr.it&utm_medium=blogger

2023 F&I Crystal Ball

There are many predictions of what is in store during the next 12 to 18 months for the auto industry, and when you compare predictions, some trends emerge.
https://www.fi-magazine.com/370021/2023-fi-crystal-ball?utm_source=dlvr.it&utm_medium=blogger

The Path of People: The Power of Empathy

If we provide the path through the process that our customers enjoy, expect, and hope for, they will trust us and listen to the insight we offer.
https://www.fi-magazine.com/369687/the-path-of-people-the-power-of-empathy?utm_source=dlvr.it&utm_medium=blogger

Why “Penny- Perfect” Payments Simply Don’t Cut It

The technology of today has far surpassed “penny-perfect,” and those competitors who understand this are cleaning up.
https://www.fi-magazine.com/369699/why-penny-perfect-payments-simply-dont-cut-it?utm_source=dlvr.it&utm_medium=blogger

Vehicle Affordability a Growing Problem

Dealers report elevated prices, a lack of affordable vehicle models, and higher interest rates are pricing many consumers out of new cars.
https://www.fi-magazine.com/370008/vehicle-affordability-a-growing-problem?utm_source=dlvr.it&utm_medium=blogger

Desking in a Rising Rate Environment

If a dealership is still buying Sharpies to complete paper Four Squares, you will probably find a higher percentage of packed payments or potentially discriminatory pricing.
https://www.fi-magazine.com/369701/desking-in-a-rising-rate-environment?utm_source=dlvr.it&utm_medium=blogger

EV Tax Credit Rules Tweaked to Qualify More Models

SUV definition changed, opening breaks to Lyric, Tesla Model Y, others.
https://www.fi-magazine.com/369998/ev-tax-credit-rules-tweaked-to-qualify-more-models?utm_source=dlvr.it&utm_medium=blogger

APCO Holdings, LLC, Acquires National Auto Care, Creating Nationwide F&I Force

Industry-leading F&I providers combine.
https://www.fi-magazine.com/369708/apco-holdings-llc-acquires-national-auto-care-creating-nationwide-fi-force?utm_source=dlvr.it&utm_medium=blogger