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Welcome to the June 27th, 2018 issue of P&A Online, a monthly eMagazine dedicated to the interests and concerns of providers and administrators of automotive finance and insurance products.

P&A Online is your source for industry news and updates as well as original feature articles to keep you well-informed of best practices and trends.

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Featured Articles
Risky Business: P&A Meets Ride-Hailing
F&I products shield car buyers from undue financial duress while generating revenue for providers, administrators, agents, and dealers. But using a covered vehicle for Uber and other ride-hailing services accelerates odometers and could void the coverage. P&A asked four leading executives how they are responding to the growing use of personal vehicles for commercial purposes.

By: Tariq Kamal

Few emerging automotive industry trends have garnered as much attention as ride-hailing. Services such as Uber and Lyft offer mobile app-based services anyone with a smartphone can use to arrange and pay for a ride, typically for less than the cost of a taxi and ... Read More »
You Don’t Know GAP
Just when you thought you understood GAP and the Military Lending Act, the Department of Defense adds a ‘cash-out’ exception to the automotive financing exemption.

By: Jim Ganther

For those who are involved in the world of F&I but were sleeping beneath a rock for the last few months, the U.S. Department of Defense issued a reinterpretation of the Military Lending Act last December. Under that new interpretation of the MLA, the exemption ... Read More »
Meet the Executive
An Interview with Jim Maxim Jr.
P&A plots the future of automotive retail and finance with MaximTrak and RouteOne’s Jim Maxim Jr.

By: Tariq Kamal

Jim Maxim Jr. is the president of MaximTrak, a RouteOne company, and chief digital officer of RouteOne Holdings. He is credited with the introduction of the electronic menu concept and widely known as an advocate of transformative technology for dealers, agents, and product providers. P&A ... Read More »
P&A Industry News
ADT Announces Winners of 2018 Dealers’ Choice Awards
TORRANCE, Calif. — The publishers of Auto Dealer Today have announced the winners of the 14th annual Dealers’ Choice Awards. The awards are based on a survey open to dealers and dealership personnel throughout the month of May. This year’s program includes a total of 100 first-place Diamond, second-place Platinum, and third-place Gold awards for 70 winners. ... Read More »
EFG Companies: Dealers Must Embrace Industry Paradigm Shift
DALLAS, Texas — Staffing and customer engagement models are the top issues impacting the future health of the retail automotive industry, EFG Companies President and CEO John Pappanastos said. The F&I product provider’s chief executive delivered his comments as part of a state of the industry address the company posted on its website. Pappanastos encourage ... Read More »
EasyCare® Promotes Scott Jacobsen to National Director of Business Performance for SAVY
NORCROSS, Ga. — EasyCare® (div. APCO Holdings) has named Scott Jacobsen as the National Director of Business Performance for SAVY®, the award-winning, dealer-branded mobile app suite designed to bridge the gap between the customer’s digital vehicle shopping experience and the dealership retail experience. Based in the Atlanta area, Jacobsen will lead the SAVY team as ... Read More »
Assurant Completes Acquisition of The Warranty Group
NEW YORK — Assurant, which provides vehicle service contracts through its Assurant Solutions business unit, announced the closing of its acquisition of The Warranty Group from TPG Capital. Following the closing, the risk management solutions provider announced several appointments to its global automotive leadership team, including the appointment of John Laudenslager as president of Assurant ... Read More »
View All P&A Industry News Here
Automotive Industry News
Manheim Completes Bold Auction Transformation
ATLANTA — With the completion of its $400 million auction and process transformation, Manheim says wholesale buyers and sellers can now experience simpler transactions and processes at 78 locations, as well as take advantage of powerful tools and self-service options. “Since starting this journey, we had one goal in mind — to eliminate paperwork, lines, ... Read More »
RideShare Knight Offers VSCs for Uber and Lyft Drivers
NEW YORK — RideShare Knight, a vehicle service contract provider for such rideshare operators as Uber, Lyft, Juno, Via, and other up-and-coming apps, announced the nationwide launch of an exclusionary service contract for hardworking drivers. Since carmakers and third-party vehicle service contract providers do not cover vehicles used in the ride-sharing economy, RideShare Knight is ... Read More »
Michigan Leads Nation in Repair Affordability
IRVINE, Calif. — For the third consecutive year, Michigan is the U.S. state with the lowest average check engine light repair cost ($333.26), according to automotive diagnostic industry leader CarMD.com, which analyzed data from more than 10.7 million vehicles needing repairs in 2017 to verify this statistic. Rounding out the five most affordable states for ... Read More »
Equifax: Pre-Approvals, Credit Checks Drive Sales
ATLANTA — Pre-approvals and credit checks remain a critical component of the automotive shopping process, according to a new report from Equifax Inc. The global information solutions company unveiled additional analysis in its ongoing study of consumer credit and shopping trends. The goal is to better understand the current landscape of how credit is used ... Read More »
J.D. Power: New-Vehicle Initial Quality Improves Again
COSTA MESA, Calif. — New-vehicle quality improved for the fourth consecutive year, rising 4% from 2017 to the best level ever recorded, according to J.D. Power’s 2018 U.S. Initial Quality Study (IQS). Initial quality is measured by the number of problems experienced per 100 vehicles (PP100) during the first 90 days of ownership, with a ... Read More »
Continental Reports 25% Time Savings Using Over the Edge’s Administration System
WESTERVILLE, Ohio — Continental Warranty reported that Over the Edge’s administration system and rating engine, TecAssured, has cut the time required to administer F&I and aftermarket product contracts by 25%. Prior to implementing TecAssured, the F&I product provider said it could take 30 to 45 days to receive sold contract from its dealers. Today, those ... Read More »
Kennedy to Lead PointPredictive’s AI Scoring Team
SAN DIEGO — PointPredictive announced that Mike Kennedy has joined the company as vice president of analytics to spearhead the growing team of data scientists in its San Diego offices. Kennedy has more than 20 years of machine learning experience across credit card, retail banking, small business, and auto lending with a focus on ... Read More »
New NY AG Settles With Queens Dealer Group
QUEENS, N.Y. — New York Attorney General Barbara D. Underwood announced a settlement resolving an investigation of Nemet Hyundai, Nemet Kia, Nemet Nissan, and Nemet Motors, a family of auto dealers located in Queens. Previously occupied by Eric T. Schneiderman, the attorney general's office opened an investigation of the dealerships after receiving ... Read More »
View All Auto Industry News Here
P&A Featured Companies
Please click on a company logo to get more information.
Arch Insurance Chem Etch Manufacturing Dealer Owned Warranty Company
Dealers Assurance Company (DAC) EcoProProducts Entire Car Protection (ECP)
F&I Administration Solutions F&I Express Impact Group
Innovative Aftermarket Systems (IAS) Kerper Bowron, LLC MaximTrak Technologies
National Automotive Experts Old Republic Insurance Company Performance Administration Corp. (PAC)
RoadVantage Safe-Guard Products International Simoniz USA
SouthwestRe StoneEagle The Warranty Group
Vanguard Dealer Services Virginia Surety Company, Inc. Wise F&I
 
 
 
 
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