Regulation - Pinnacle Dealer Solutions

THIS IS HUGE — U.S. House Votes To Curb CFPB Lending Guidance

11MayOctober 26, 2018 By Bridget Houston

Good to see common sense reform for Automotive Dealers, THIS IS HUGE! Check out this article for my information. We can help your dealership with our real-world solutions from F&I Training to Compliance checks. Email us at info@pinnacledealersoultions.net Let’s Connect! Twitter: https://twitter.com/pinnacledealers Facebook: https://www.facebook.com/pinnacledealersolutions/ Linked In: https://www.linkedin.com/company-beta/12897853/ Website: https://pinnacledealersolutions.net/staging/7467 How can we find you?

Subprime in 2018

01Jan By Bridget Houston

Automotive loan balances expected to continue to grow in 2018. Serious delinquencies are also on the rise. The shift in lending toward lower risk consumers will help cushion the market over the next few quarters. Read below for the full report. TransUnion: Subprime Pullback to Continue in 2018 We can help your dealership with our…

CFPB Changes & New NCLC Report

26NovDecember 1, 2017 By Bridget Houston

What do the new CFPB regulation changes mean & what how will the NCLC report come into play? A report from the National Consumer Law Center revealed inconsistent and discriminatory price markups on F&I products over a span of six years in all 50 states and the District of Columbia. The data set included information on…

Protecting Your Dealership From Fraud Pt. 2

17NovDecember 1, 2017 By Bridget Houston

Fraudulent automotive purchases are not slowing down & the repercussions for these deals are as damaging as ever. Even dealers with preventative programs in place are at risk. You need to make sure your dealership is asking the right questions, following the correct processes & keeping an eye out for red flags that suggest that…

The Future of F&I

13OctDecember 1, 2017 By Bridget Houston

The idea that F&I departments are on their way out is not only a misconception but will be a huge mistake for any dealer who decides to go with a technology-based or hybrid model. Eliminating what is the highest profit earning department in your dealership will not only cut off potential earnings but it might also ruin…

Teamwork Makes The Dream Work

23Sep By Bridget Houston

Working in the automotive retail space, it is easy to look at the car buying process in sections by department. We must remember that customers look at the entire process as a whole. As F&I Professionals it is very important that we incorporate aspects of what we do into early stages of the sales process….

Protecting Your Dealership From Fraud

15Sep By Bridget Houston

With the recent Experian breach, it is more important than ever to make sure your dealership is doing everything it can to protect itself from fraud. Fruad can come in many forms & can have a variety of consequences from ruining the victim’s credit, damaging lender relations to financial & legal issues for your dealership….

Are You Maximizing Your F&I Skills?

11Aug By Bridget Houston

In your career & your life constantly improving yourself is a necessity. Work days fly by & months pass in a blink of an eye. This means it is more important than ever to buckle down and make sure that you are doing your best to become better. It is your job to focus on…

Subprime Market Slow Down

04AugAugust 4, 2017 By Bridget Houston

The Subprime market has been at the center of a lot of conversations lately & with good reason. Due to higher numbers of delinquencies, subprime lending reached a 10 year low. Now 30 day delinquencies are lower. Are these finance sources are going to continue to tighten the reigns? Or are current healthier delinquency numbers…

Trump, GOP Congress may curtail CFPB oversight of auto lending

09NovJune 27, 2017 By Bridget Houston

After a contentious and unpredictable election, Donald Trump’s incoming presidency and a continuing Republican-led Congress may be a win for dealers and auto lenders hoping to curtail auto lending guidance by the Consumer Financial Protection Bureau. A bill to limit the CFPB’s guidance, H.R. 1737, or the Reforming CFPB Indirect Auto Financing Guidance Act, passed…