Congress empowered the Consumer Financial Protection Bureau to supervise “buy-here, pay-here” car dealers when it passed the Dodd-Frank Wall Street Reform and Consumer Protection Act. Since its inception, the CFPB has not specifically targeted a BHPH dealer – until now, that is. In November, the CFPB announced a consent order against DriveTime Automotive Group, Inc., […]
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Entries by dealerbizAdm1n
I admit that I’m a bit quirky. Quirky Exhibit One is what I do when I travel. Whenever possible, at breakfast, I try to find a local paper. When I do, I sip my coffee and go immediately to the car dealership ads to see how many disclosure and “unfair and deceptive acts and practices” […]
Car dealers looking for an edge may know there are differences between women and men when they shop for new or used vehicles. And the most savvy dealerships use that information to boost sales. The results of a recent market intelligence study by Kelley Blue Book may help. It involved about 40,000 U.S. adults and […]
Selling cars isn’t what it used to be. In years past, selling a car meant walking the lot and being prepared for potential buyers that showed up at the dealership. And while some of the parking lot prowl is still necessary, a car salesperson must have a few more skills with today’s shopper. One of […]
This headline caught our eye: “Word of mouth still dominates,” referring to local marketing. “Word of mouth is still the leading source for new business,” according to F&I and Showroom online. “But a new study says [online] review sites continue to gain ground.” “In the age of online reviews, it turns out that word of […]
The holiday selling season is over and tax refund season has started, which means auto and truck dealers hardly have time to catch their collective breath. Tax refunds, of course, help drive shoppers who didn’t buy at year’s end to dealer showrooms now. Santander Consumer USA and Santander Auto Finance (SAF) know how important the […]