Finance & Insurance
Ally’s auto finance pretax income was $375 million in the first quarter, down $105 million year over year in part because of lower net financing revenue.
Gingerich cut down on the time it takes for each deal and increased F&I product penetration.
About a third of those surveyed said they plan to buy a vehicle in the next year.
U.S. Sen. Bernie Moreno, a former car dealer, introduced a bill to deduct interest paid on auto loans on a consumer's federal taxes.
The U.S. Senate confirmed President Donald Trump’s pick for the third Republican commissioner on the U.S. Federal Trade Commission.
Edmunds said this decline showed a consumer flight to longer loans.
Give the customer a business card with a personal cellphone number and ask if the competitor had made the same information available, says a trainer from iA American Warranty Group.
Finance and insurance products besides the staples of guaranteed asset protection coverage and vehicle service contracts have made up an increasing portion of dealership F&I product revenue since 2019, according to F&I software and analytics provider StoneEagle.
The Cybertruck came in seventh out of the top selling new EVs in the fourth quarter, down from third in the third quarter.
Often you can get 10 percent penetration on a product just by taking the time to sell it to every customer, said Stephanie Cooper, a coach at iA American Warranty Group.
