Archive | Industry

Forecasting the Future Direction of the CFPB

Forecasting the Future Direction of the CFPB

Crowds gathered at the September P&A Leadership Summit and Industry Summit in Las Vegas to hear attorney, Rick Hackett’s forecast of the future direction of the Consumer Financial Protection Bureau (CFPB). Hackett is the former assistant director of installment and liquidity lending markets for the bureau’s division of research, and has been considered the point … Read More »

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New vs Used Customers – Identifying Their F&I Hot Button

New vs Used Customers – Identifying Their F&I Hot Button

We have seen major shifts in customer buying behavior since the great recession. In fact we have realistically seen more changes in their buying habits in the last five years than we have in the previous 25! One of the major shifts has been a record in the length of the average loan with a … Read More »

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The Consumer Financial Protection Bureau’s Encroachment Into the F&I World

The Consumer Financial Protection Bureau’s Encroachment Into the F&I World

When Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act, both the auto dealer and insurance industries were at the table to be sure they were carved out from the jurisdiction of the now powerful Consumer Financial Protection Bureau, better known as the CFPB. As is frequently the case, however, legislative exemptions are … Read More »

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Tangible and Intangible – Customizing Presentations to Deliver Success

Tangible and Intangible – Customizing Presentations to Deliver Success

No F&I department can survive off service contracts, GAP and reserve alone. In order to achieve a solid PVR without the reliance on those three products, the F&I office has to be very, very good at what we have learned to call tangible and intangible products. These unique types of offerings need to be presented … Read More »

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Making the Most of Time in the F&I Office

Making the Most of Time in the F&I Office

The average time consumers spend on purchasing a new vehicle is almost four hours from start to finish – and most customers agree this is way too long. Once the customer has chosen a vehicle and negotiated the sale, they proceed to the F&I office. There, the F&I manager has numerous products to present, and … Read More »

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A Brief History of Reinsurance

A Brief History of Reinsurance

Successful reinsurance companies generate untold wealth for dealers and agents today. In the second decade of the 21st century, reinsurance has long been established as a mature, legally compliant and vital tool for helping reinsurance company owners achieve additional security and long-term prosperity. Throughout the years, there were occasions when my company, SouthwestRe, played an … Read More »

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