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Study: Dealers and Car Buyers Want New Tech, Dealership Staff Resistant
A Cox Automotive report finds high demand for automation and AI technology among dealers and their customers. But dealers cited cost and their staffs’ inability or unwillingness to adopt new tools and update processes as major obstacles.
Trump Signs Repeal of CFPB’s Dealer Participation Guidance The president’s signature comes exactly five years and two months after the bureau put the auto finance industry on notice with its controversial guidance on dealer rate markups.
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Trump Signs Repeal of CFPB’s Dealer Participation Guidance
WASHINGTON, D.C. — On Monday, President Donald Trump signed into law the Congress-approved resolution of disapproval of the Consumer Financial Protection Bureau’s guidance on dealer participation — ending the regulator’s attack on a key source of dealer income exactly five years and two months since the regulator issued its controversial rule.
The enactment of the Congressional Review Act (CRA) resolution not only rescinds the bureau’s fair lending guidance, it prohibits the bureau from ever reissuing a substantially similar rule unless Congress authorizes it do so by law. The president’s signature also marks the first time the CRA has been used on a rule that has been in effect for several years.
“This is a great day for consumers, as Congress and the President have helped to preserve their ability to receive auto loan discounts from local dealerships,” wrote Peter Welch, president of the National Automobile Dealers [...]
Comments Off on 3-year value bright for yellow, orange cars – buy here pay here Birmingham
The brighter the car color, the brighter it’s future value.
According to an iSeeCars.com analysis of 2.1 million used vehicles, yellow vehicles depreciated an average of just 27 percent in value after three years, and orange cars depreciated 30.6 percent.
These school bus-inspired colors led the class, as they had the lowest depreciation rates among the 13 colors included in the analysis.Yellow and orange were followed closely by another color that can be both rare and bright: green, at 30.9-percent depreciation.
The average cars depreciates 33.1 percent after three years, according to the iSeeCars study.
“Yellow cars are relatively less common, which could drive up demand and help maintain their value,” iSeeCars chief executive officer Phong Ly said in the analysis.
“Our analysis shows that yellow vehicles have the lowest depreciation of any color for lower-volume cars like convertibles,” he said. “Interestingly, yellow is also the color with the least depreciation for popular body styles like SUVs and pickup [...]
Comments Off on Car Troubles? Try These Cost Saving Tips – Wayne’s Auto Sales
Car Troubles? Try These Cost Saving Tips
Getting a vehicle repaired can be one of the worst experiences a person can have. Not only do they have to spend money on repair costs, they have to deal with auto mechanics that charge too much and take forever to do repairs. The following article has tips that can make auto repair easier.
Checking and repairing the air conditioning in your car is quite complex. If you need to have it checked or fixed, find a mechanic with an air conditioning certification. The gas used for air conditioning is potentially dangerous and this system is a lot more complex than the other parts in your vehicle.
If you notice your windshield wipers are not removing all the water from your windshield when it rain, you may need to replace the blades. This is a simple fix anyone can do. Measure the blades and purchase new ones [...]
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How To Hire A Professional Mechanic
It can be intimidating to figure out what is wrong with your vehicle, which is why it is usually advisable to seek the help of a qualified and trained mechanic. However, choosing the best one for your specific needs can be challenging. Do not despair, as there are things you can do to make a wise decision.
When doing your own work on your automobile, you want to make sure you never take things too far in error. You’re saving yourself some money by doing it yourself, but if you’re not sure about something, you need to find out or let a professional handle the matter. You could end up costing yourself so much money.
When taking your car to a repair service, make sure that you have all documentation handy. This is important as you do not want the mechanic to do tasks that have already been [...]