According to Business Insider, increases in car price lead to increases in loans, and therefore the time to pay them off. Loan terms, which originally began at 32 months, now can range all the way to 96 months, or 8 years. Financial experts suggest that lengthening loans can be a bad idea, and may do damage to the dealership. Also, not following the 20-4-10 rule can get dealerships and F&I departments in big trouble.
Extended Auto Loans Break 8 Year Mark, May Also Break Bank
Extended Auto Loans Break 8 Year Mark, May Also Break Bank
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Dave Cantin Group Launches Board of Advisors with Tekion Exec George Kang
The Dave Cantin Group (DCG), a leading mergers and acquisitions advisory company to retail automotive groups and their owners, has named Tekion executive George Kang as the first member of its newly launched advisory board of automotive experts. DCG
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Industry Press Releases
CallRevu Becomes the Automotive Industry’s Exclusive Pam Partner to Bring Next-Gen, Voice AI BDC Support Solutions, Transforming Customer Service for Dealerships
CallRevu, the industry leader in automotive communication solutions, is proud to announce an exciting partnership with Pam, an innovative human-level, voice AI-powered receptionist and Business Development Center (BDC) support tool. This collaboratio
