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Categories: Auto Finance, Compliance, Industry
DOJ Settles Nissan Captive Case for $3M

The U.S. Department of Justice announced Nissan Motor Acceptance will pay $3 million to settle charges that it unlawfully repossessed 113 vehicles belonging...

https://www.fi-magazine.com/357772/doj-settles-nissan-captive-case-for-3m
Categories: Compliance
Fla. Chevrolet Dealership Agrees to Million-Dollar Settlement

The former owners of Jacksonville, Fla.’s Riverside Chevrolet will pay more than $1 million in restitution and fines to settle charges of failing to pay...

https://www.fi-magazine.com/357740/fla-chevrolet-dealership-agrees-to-million-dollar-settlement
Categories: Compliance
Father/Son Dealers Face Federal Fraud Charges

Mehdi and Saaed Moslem have been charged with tax and bank fraud after IRS and FBI investigators say they uncovered a scheme to hide — then inflate — income...

https://www.fi-magazine.com/357738/father-son-dealers-face-federal-fraud-charges
Categories: Auto Finance, Dealer Ops, F&I
Report: Longer Commute, Bigger Auto Loan

LendingTree analysts have discovered a correlation between commute times and auto loan balances, finding that car buyers borrow $269 for every additional...

https://www.fi-magazine.com/357733/report-longer-commute-bigger-auto-loan
Categories: Dealer Ops, Industry, Showroom
SAAR Dips to 16.6M in Watershed Sales Report

July deliveries increased 1.3% in the first monthly U.S. new-vehicle sales report to include none of the Detroit 3 automakers, but the seasonally adjusted...

https://www.fi-magazine.com/357726/saar-dips-to-16-6m-in-watershed-sales-report
Categories: Dealer Ops, F&I, Product & Technology
AutoNation Nears $2,000 PVR as Big Groups Grow F&I

The nation’s six largest publicly traded dealer groups all increased F&I profit per vehicle retailed in the second quarter, led by AutoNation’s $1,926 per...

https://www.fi-magazine.com/357717/autonation-nears-2-000-pvr-as-big-groups-grow-fi
Categories: Auto Finance, Dealer Ops, F&I, Industry
Cornered Fed Announces First Rate Cut Since 2008

Facing new global realities and pressure on multiple fronts, the Federal Reserve cut interest rates for the first time in more than a decade in an attempt...

https://www.fi-magazine.com/357714/cornered-fed-announces-first-rate-cut-since-2008
Are We Not Capitalists?

Opponents of franchise laws claim they hang on flawed logic, discourage competition, and benefit dealers to the detriment of consumers.

https://www.fi-magazine.com/357691/are-we-not-capitalists
Categories: Compliance, Dealer Ops, Showroom
Dealer Sues Over Lexus Point Lost in 1989

Longtime Wichita, Kan., Toyota dealer Mike Steven has sued the factory’s luxury division, claiming more than $120 million in damages stemming from a...

https://www.fi-magazine.com/357632/dealer-sues-over-lexus-point-lost-in-1989
Categories: Dealer Ops, Industry, Showroom
Price Hike: Tesla Drops Base Models

The starting prices for the Model X SUV and Model S sedan went up nearly $5,000 overnight following the abrupt deletion of their ‘standard range’ variants...

https://www.fi-magazine.com/357519/price-hike-tesla-drops-base-models


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