Automotive Addicts

OCTOBER 1, 2024

Chris Hopson, principal analyst at S&P Global Mobility, highlighted that many consumers are finding it difficult to justify the monthly payments required to finance a new car. Affordability Takes Center Stage The rise in prices and higher interest rates are the key reasons behind the slowdown in new vehicle sales.

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Davey Auto Sales

JANUARY 27, 2025

What You Need to Know About Car Financing Buying a car is a significant deal in life. However, there are still some things that you need to know about car financing before you visit us. Our team put together this guide to help people get a basic understanding of car financings key concepts. Follow along with us below.

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Motor Trader

JUNE 4, 2024

It said the key focus of the platform is to offer more efficient processes, reduce time-wasting activities, and optimise finance penetration by streamlining the buying journey. Evolution Funding is now using Automotive Compliance’s enhanced regulatory platform.

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Shawn Ryder

JANUARY 18, 2025

When it comes to purchasing a vehicle, many potential buyers consider financing options. In this blog post, we will explore the intricacies of automotive financing, including how interest is determined, what factors influence the rates, and how manufacturers and dealerships play a role in this process.

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Canadian Auto Dealer

NOVEMBER 5, 2024

The company said the new solution, known as Digital Deal and built in partnership with dealer finance portal platform CreditApp, allows consumers to complete more of the buying process online. They can finalize their financing and complete the transaction in-store. That application is submitted directly to the participating dealership.

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Shawn Ryder

JANUARY 22, 2025

When considering purchasing a used car in Ontario, Canada, one major financial aspect to be aware of is the Annual Percentage Rate (APR) you might encounter when financing your purchase. In Canada, lenders are legally required to disclose the APR, allowing consumers to better compare financing options from various providers.

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Dealer World

JANUARY 9, 2024

Led by a team of veteran industry experts with backgrounds in investment banking, private equity, accounting, finance and real estate, Kerrigan Advisors does not take listings, rather they develop a customized sales approach for each client to achieve their personal and financial goals.

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AutoSuccessOnline

JUNE 6, 2024

million facility leverages Manheim’s technology, expertise and staffing, along with the services dealers rely on such as financing, condition reports and assurance solutions. The first sale was held on May 29 and attracted 189 dealers in-lane and online. Of the 85 vehicles offered, nearly half were sold.

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Auto Remarketing

OCTOBER 2, 2024

As one dealer principal told me while I was gathering facts and information for this article: “When we are going through a phase with margin compression like we are now — we look at EVERY expense to see, where we can reduce or cut costs.” The other side of the scale — or the equation — is costs.

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Shawn Ryder

JANUARY 17, 2025

Low Down Payment: A smaller down payment increases the likelihood of negative equity, particularly when combined with quick-loan financing. Long Loan Terms: Extended loan periods often lead to slower paydown against the principal, increasing the chances that you’ll owe more than the vehicle is worth.

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Shawn Ryder

JANUARY 18, 2025

Consequently, if you attempt to trade in your car under these circumstances, you may find yourself in a financially challenging situation where the new vehicle financing includes the negative equity from your current car. Tips for Avoiding an Upside Down Trade-In Here are actionable strategies you can apply to ensure a wise car trade-in: 1.

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Shawn Ryder

JANUARY 19, 2024

Amount Owed The amount owed on a vehicle refers to any outstanding loan or financing balance. This includes the principal amount borrowed, interest, and fees that need to be paid back to the lender. Remember, vehicle equity depends on factors like market value and the amount owed on the financing.

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Car Examer

SEPTEMBER 8, 2024

Financing and Interest If you took out a loan to finance your car, interest payments can add a significant cost over time. How to Save on Financing: Shop for the Best Interest Rate : Compare loan offers to find the lowest interest rate, which can save you hundreds or even thousands over the life of the loan.

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Autosoft

FEBRUARY 12, 2025

Autosoft DMS has saved time from starting the deal to appraising the vehicle to moving it to finance to getting the customer out the door as quickly as possible, he says. Autosoft DMS is the perfect solution for a dealership of our size, says Richard Weber, Dealer Principal at Weber Motor Company.

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Drive.com

OCTOBER 3, 2024

An April 2024 report by British personal finance site NimbleFins gathered nine years of real-world data from Tesla owners and found that, on average, their cars lost about 1 per cent of their range yearly.

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AutoSuccessOnline

SEPTEMBER 3, 2024

Karen Sutton-Ford, dealer principal of Sutton Ford in Matteson, Illinois, has been named the winner of the prestigious Ally Sees Her Award. “This award reinforces my belief that I fulfill my purpose when I build others,” Sutton-Ford said about the award. Her automotive background soon drew her back.

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Automotive Mastermind

NOVEMBER 18, 2022

The Cost of Financing Vehicles Has Risen The cost of financing vehicles is high for a variety of reasons, including: Customer demand Inflation Rising interest rates According to TransUnion reports , used vehicles “propel the debt metric,” with average used-vehicle monthly payments rising 22% on a year-over-year basis to $505 in Q1 2022.

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AutoSuccessOnline

JUNE 18, 2024

Financing for the acquisition was partially obtained through BCP’s recent partnership with Abry Partners , a private equity firm with a 30-year track record of success in fueling business growth. Over 2,500 dealers across the United States currently partner with BCP.

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Canadian Auto Dealer

NOVEMBER 22, 2024

If there ever were “the good old days” when it was an easy business to sell, finance and service automobiles, those days are well in the rear-view mirror. We need more representation, because a sales manager will see things differently than a general manager, and a GM will see things differently than a dealer principal.”

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Canadian Auto Dealer

APRIL 17, 2024

Deputy Prime Minister and Minister of Finance Chrysia Freeland tabled the federal budget in Ottawa this week, and auto industry groups are offering a mixed reaction. Lifetime capital-gains exemption for Canadians will rise from $1 million to $1.25

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Canadian Auto Dealer

NOVEMBER 4, 2024

It is also involved in selling auto financing. “We Alberta-based GoAuto is another major group in the retail automotive space that has a wide range of businesses, including insurance, in-house financing and the RV sector. It now owns three powersports businesses. Overall, the company has 41 rooftops and represents more than 60 brands.

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AutoSuccessOnline

AUGUST 9, 2024

The most recent cyber event that affected thousands of dealerships across the country is just the latest example of how dealers, dealership senior leaders and principals must constantly think about the big picture and best practices.

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Terry Lancaster

AUGUST 1, 2023

Finance is the glue that connects the sales department and the service department. A lot of times, dealers make a mistake and overload the existing finance manager instead of hiring an additional finance manager. The number for finance managers is three to three and a half deals a day, 880 deals a month.

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Canadian Auto Dealer

FEBRUARY 19, 2025

The day started with journalist Jason Stein interviewing three prominent leaders of large Canadian dealer groups: Christian Chia, CEO of OpenRoad Auto Group; John Hairabedian, President and CEO of H Gregoire; and Laura Zanchin, Principal and Executive Vice President of Zanchin Automotive Group.

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Dealer World

NOVEMBER 8, 2023

In 2017, his daughter Sandra Price Amato became the dealer principal, continuing the family’s legacy as one of Charlottesville’s top dealer groups. The Jim Price Auto Group, a family-run dealership group, was founded in 1968 by Henry James "Jim" Price in Charlottesville.

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Automotive Mastermind

FEBRUARY 11, 2022

This technology allows dealers to identify and engage service customers who are approaching the end of their lease or finance term, or the end of their warranty. To stay ahead of vehicle delivery delays, these dealers are leveraging dealership marketing technology that integrates with data from their CRM and DMS.

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Canadian Auto Dealer

JULY 29, 2024

Alizadeh opined there are some Canadian provinces and territories that are operating under “the wild, wild west concept,” but in Ontario there’s just “constant continuous” regulations that require dealer principals to spend more time educating their staff. “I I don’t think we need any further regulations, quite frankly,” said Alizadeh. “In

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Turbo Marketing Solutions

FEBRUARY 28, 2024

For instance, the Federal Trade Commission (FTC) introduced the Combating Auto Retail Scams Rule (CARS Rule) in 2024, setting new requirements on the sale, financing, and leasing of vehicles by motor vehicle dealers. Staying informed about these industry-specific regulations is vital for complete compliance.

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Canadian Auto Dealer

OCTOBER 1, 2024

I also love that it can provide the privilege and opportunity of being generous with one’s time and finances in a positive and meaningful way. In 1991, I secured an equity buyout position as Dealer Principal of Moncton Honda. I did, however, have an insatiable drive to learn, succeed and be in full control of my own career destiny.

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Auto Remarketing

NOVEMBER 14, 2024

What dealer principals should be focused on — is what they can control. Strategies for performance optimization To increase the value of a dealership, principals should consider how to best leverage and optimize their capital – human, financial, relational, and intellectual – to maximize the sale price when it’s time to transact.

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Dealer World

MARCH 19, 2025

We knew choosing Kerrigan was the right decision, given their deep knowledge of the California dealer market and the Kia brand, not to mention an advisory process that engaged every Kerrigan team member, from accountant to principal, focused on the success of our sale, said Mike Sobh, Co-owner of Lou Sobh Automotive Group.

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Canadian Auto Dealer

MARCH 12, 2025

Now they are seeing that availability and many incentives come to market to help get them into showrooms and into a new vehicle, and manufacturers are supporting and subventing those rates to bring them down on lease payments and finance payments, said Ross. We are a payment-driven consumer body for the auto market in Canada.

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