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?
Fort Lauderdale, FL — June 20, 2018 — A little over two years after being acquired by Mexico City-based Credito Real, AFS Acceptance LLC has announced it will be changing their name to Credito Real USA Finance (CRUSAfin) as Credito Real begins to expand its brand in the United States. “We have been very fortunate to have a parent company like Credito Real. With their … [Read more...] about Auto Dealer Financing Gets a New Name and Capitalizes on Parent Company for Expansion
Santa Monica, CA — January 3, 2017 — The average price of a new vehicle is expected to hit the highest point in history in December, according to the analysts at Edmunds, the leading car shopping and information platform. Edmunds estimates that the average transaction price of a new vehicle was $36,495 in December, which is a 3% increase compared to December of 2016 and a … [Read more...] about New Vehicle Prices Climb to All-Time High in December
April is the month when spring kicks into gear, and traditionally coincides with the time of year when Americans start thinking about hitting the road for getaways and vacations—or just upgrading from the old beater to something shiny with that great new car smell. It’s also the month of Tax Day, an event that many dread, but which can be good news for dealerships, because … [Read more...] about The Road Ahead for F&I and Compliance
Compliance remained a hot topic of conversation this year at the NADA Convention, and at the American Financial Services Association Vehicle Finance Conference, which preceded it. Unlike the discussions at last year’s convention about big fines and the assault on auto finance, the talk this year centered on a variety of topics. Questions and comments revolved around what … [Read more...] about What Dealers Need to Know About Adverse Action Notification