by Greg Levi
3:00 pm in status by Greg Levi
Congratulations Greg Krivicich and Keith Whann for bringing Auttr to a reality. 1000 members validates the concept that our industry will embrace new technology, ideas, and platforms.
2:09 pm in Uncategorized by L.J. Marhefka
The Wall Street Journal is reporting that Sen. Christopher Dodd and Rep. Barney Frank are at odds over who should lead the Consumer Financial Protection Bureau.
Frank, the House Financial Services Committee chairman, has joined his party’s liberal base in pushing for Harvard Law Prof. Elizabeth Warren to head the bureau, and wants her named without delay. Dodd, the Senate banking chairman, questions whether Ms. Warren could get the 60 votes needed for confirmation. He appears to be waging a one-man campaign to persuade the White House to nominate anybody else.
Even if Warren could be confirmed, a heated battle over her in the Senate would likely delay the new agency’s writing of new financial rules, something Dodd wants to avoid. READ MORE…
10:13 pm in Uncategorized by L.J. Marhefka
IRVINE, Calif. — New research from the Kelley Blue Book Market Intelligence Group revealed today that more vehicle buyers are apparently turning to used units, as well as tending to pay in cash rather than financing their purchases.
The study findings showed some startling vehicle buyer sentiment about potential purchasing and financing plans.
Stemming from what analysts believe to be unsteady economic conditions, the survey determined most in-market shoppers are planning to spend a relatively small amount of money on their next vehicle purchase. Additionally, KBB found these same consumers are more likely to buy a used vehicle versus a new unit.
Furthermore and most relevant to auto finance companies, more than one-third of in-market vehicle shoppers involved in the survey say they plan to pay the entire cost of their next vehicle purchase in cash, and they are not influenced by incentive offers.
KBB indicated 74 percent of the individuals surveyed plan to purchase a vehicle within the next six months. Of that cluster, more consumers emphasized they are in the market for a used vehicle (67 percent) rather than a new one (33 percent).
Again, returning to what could pique the interest of finance companies, KBB found that 42 percent of used-vehicle shoppers and 20 percent of new-vehicle shoppers said they plan to pay the entire cost of their next vehicle in cash. …Read More
1:44 am in Uncategorized by L.J. Marhefka
WASHINGTON—President Barack Obama on Wednesday signed into law the most sweeping financial overhaul since the Depression, putting the country on a course toward a more muscular regulatory framework.
The law gives the government authority to take over and liquidate failing financial firms, injects transparency into transactions involving financial instruments called derivatives and will restrict banks from making risky bets with their own capital. It directs agencies to write hundreds of new rules.
But one provision that barely survived will have the most direct bearing on millions of ordinary people’s lives: a new agency meant to protect consumers from abusive financial products, called the Bureau of Consumer Financial Protection.
The proposal was the source of some of the most intense debates in the long struggle over the financial-regulatory overhaul, and the battles are far from over.
The biggest looming one is over who will head the agency, and that heated up this week as liberal groups insisted the White House give the job to Elizabeth Warren of Harvard Law School—whose idea the agency was. Banking groups were urging key senators to oppose Ms. Warren, calling her an activist who would impose policies they argue would hurt the availability of credit, especially for those with low incomes. Click here to read more!
by Tom Bowersox
6:20 pm in status by Tom Bowersox
Looking for help for repo info in Arkansas and Oklohoma. Is there anyone who can help wth legal questions on repo in those States?
by Tom Bowersox
11:56 am in status by Tom Bowersox
Tom Bowersox attended the OIADA, Car Counselor’s Corner with Kieth Whann for the Used Car paperwork compliency and wished we had five more hours. to go over Buy-Here Pay-Here and Used Car paperwork. Auto Specialties of Canton, Inc will be at the next OIADA meeting!
by Kyle Reese
10:49 am in status by Kyle Reese
I have received a ton of emails and phone calls regarding the new NIADA Certified Pre Owned Program. The CPO program has a $0 deductable. It is also fully insured directly to your dealership through an “A” rated insurance company.
This is a great way to differentiate your retail store against your competition with a nationally branded Certified Pre Owned program at a significant discount versus OEM programs.
In addition, the NIADA Certified Pre Owned program will drive higher gross margins, enhance inventory turn, increase service contract revenue, and build long term customer loyalty.
Log onto http://www.niadacertified.com or call 800-840-2567 to find out how to get the CPO Program for free at your dealership.
4:22 pm in status by Steve Micotto-CFAA
Columbus Fair Auto Auction Repo Sale Tuesday, April 13th:)
Tuesday, April 13th Repo Sale 450 + Units Hope to see you there. Random Drawing after the Repo Sale for Santander Buyer ... Asus Netbook Computer.... (must be present)
9:12 am in status by Steve Micotto-CFAA
Special Offering at Columbus Fair Auto Auction 
Wednesday, March 31st ......50 Honda's and Acura's running in Lane 4 @ 9:15 AM ......All Units have a Clean CARFAX...... Giveaway after the Sale .... TOM TOM GPS Navigation with Touch Screen. (Must be present) If you can't attend in person Buy Online.... Contact Steve Micotto for your Ringman User Account.....
9:21 pm in status by Brad LeBlanc-AOG
I am encouraged! Spring is coming & so are more vehicle sales! I know, we can still get snow through April but hey, at least you are around to experience it! There’s a thought!
MAKE IT a great week!
