New study in the journal Applied Economics analyzed data on new car sales, finding that dealership competition “significantly” lowers consumer prices on new car and truck purchases.
In January 2020 Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger appointed a taskforce on Federal Consumer Financial Law to explore and make recommendations on ways to improve consumer protection in the marketplace.
The action represents the latest recognition by a diverse and growing number of public and private groups of the value of the optional NADA fair credit program as an effective mechanism to address fair credit concerns while preserving competition in the marketplace.
For the second time in three months, the Journal has cited fewer than a handful of cases as “proof” that fraud is widespread in the vehicle finance industry – which just so happens to engage in more than 35 million transactions every year.
The collection, storage, use and sharing of information raises many complicated legal, regulatory and business issues for dealers.
Just like NADA’s 2014 Fair Credit Compliance Policy and Program, the VPP policy was rolled out with our friends at NAMAD and AIADA. It offers critical guidance on how dealerships can successfully navigate the VPP terrain …
In today’s market, America’s new car and truck dealerships sell around 50,000 new cars and trucks a day. Consumer access to affordable credit at dealerships, and interest rate discounts that local dealerships can provide their customers, are keys to driving those sales.
Last week, an item in Automotive News, that many readers may have glossed over, nearly caused me fall out of my chair.