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Dealers' margins squeezed by EV shift, greater consumer protection

Autocar

Many dealers now bundle EV servicing into a package deal with monthly payments. Sometimes other elements are bundled in to make the deal look appealing, for example AA membership from MG. However, customers are starting to ask exactly what they’re getting for their money. “I

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Hyundai Dealer Bait And Switch Sees Sonata Price Go From $13k To $21k

Carscoops

The website explicitly says “No Dealer Add Ons Ever” Some car dealers will say anything, even stretching the truth, to get customers in the door. ” The dealer appears to be trying to sell that upgrade instead of offering it and letting the customer decide. The additional costs largely come from junk fees.

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Bargain or burden? The truth about buying a Fisker Ocean

Autocar

Assuming a provider would consider it, taking out GAP insurance to cover any shortfall between what an insurer is prepared to pay for an Ocean in the event that it is written off – highly likely in the circumstances – and what it cost would seem sensible. We continue to monitor the situation.”

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Select Car Leasing partners with MotorEasy

Motor Trader

Mark Tongue, Joint CEO and Founder of Select Car Leasing, said: “The collaboration provides additional peace of mind to Select’s extensive database of customers and also introduces MotorEasy’s membership of more than one million car owners to some of the most competitive lease deals on the market. Alloy Insurance begins at £6.50

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Based on CFPB Documented Consumer Complaints, Are Junk Fees Really in the Spotlight?

AutoSuccessOnline

This initiative has significant implications for Guaranteed Asset Protection (GAP) insurance and other aftermarket products commonly sold alongside vehicle purchases. In the automotive sector, this scrutiny has extended to GAP insurance and various aftermarket products.

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Understanding Dealership Jargon: Terms the Public May Not Know

Shawn Ryder

When you’re dealing with car dealerships, whether buying a new car or getting service on your existing vehicle, you might encounter several terms that aren’t immediately clear. F&I (Finance and Insurance) A department within a dealership responsible for arranging financing and insurance for customers purchasing vehicles.

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Dealer finance under fire amid crackdown on 'secret' revenue

Autocar

Commissions paid unknowingly by customers have accounted for large chunks of profits for dealers, which have teams dedicated to growing revenue from finance and insurance deals, or ‘F&I’ (including GAP insurance). New cars are mainly financed through the manufacturers’ own finance house.

Finance 59