In our daily 24/7 news cycle, perspective can be fleeting. We fail to consider the ebb and flow of events, especially anything with political overtones. Although the world of finance prefers consistency, the one thing we can count on is change. Lately, the topic of compliance has been buffeted by change. From regulation to deregulation, the various local, state, and … [Read more...] about What the Auto Finance Industry Can Learn From the Lessons of History
Finance & Insurance
Fintechs: Are They Creating New Revenue Streams, or Siphoning Existing Ones?
In 2007, in the award-winning film about entrepreneurialism and greed There Will Be Blood, actor Daniel Day-Lewis earned an Academy Award for his menacing portrayal of oil prospector Daniel Plainview. In a pivotal scene, Plainview describes how he uses diagonal drilling—comparing it to angling a drinking straw from his claim underground to his competitors’ to drain away … [Read more...] about Fintechs: Are They Creating New Revenue Streams, or Siphoning Existing Ones?
In Today’s Gig Economy, Are You Classifying Dealer-Trade Drivers Correctly?
The term gig economy is not just one you hear millennials use; it’s a continuously growing workforce of independent contractors who value flexibility over what used to be referred to as a steady job. The term gig economy arose from the idea that musicians are paid per gig, but encompasses far more industries than just music. Studies indicate that by 2020, nearly 40% of the … [Read more...] about In Today’s Gig Economy, Are You Classifying Dealer-Trade Drivers Correctly?
Why Dealers Are Riding High on the Credit Union Wave
Credit union lending’s prevailing strength is filling the profit sail for increasing numbers of auto dealers. Data shows credit unions provide aggressively competitive rates that ensure deals with deep product penetration, and have little cancellation risk. Credit unions have become a valued partner for dealers, providing excellent locations to go to get paper bought, and … [Read more...] about Why Dealers Are Riding High on the Credit Union Wave
Automotive Disruptors Are the Forewarning of “Icebergs” Ahead for Dealers
“I’m king of the world!” exclaims Leo DiCaprio’s character Jack in the famous scene from the smash film Titanic. It was the height of the character’s joy because everything was going his way. But it did not last. (Spoiler alert!) We all know what happened to the Titanic in real life. We’ve heard the 20/20 hindsight technical analysis of all the critical decisions made by … [Read more...] about Automotive Disruptors Are the Forewarning of “Icebergs” Ahead for Dealers