P&A Online
October 26, 2011
Welcome to 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.
Be sure to visit P&A's website at www.pa-magazine.com regularly for the latest updates.
Featured Articles
Making Common Sense More Commonplace: Doing Business the Right Way
There are many times that you hear about a business and wonder, "what were they thinking?" Serving as in-house counsel not only requires specialized legal knowledge and technique, but it exposes you to the company's various departments and the decisions that are made in the ordinary course of business. In my experience, it's rare that ... Read More »
Month-to-Month Vehicle Service Contracts
Vehicle service contracts have traditionally been sold as a single pay product purchased at the time of vehicle purchase. While the typical retail charge for the vehicle service contract (VSC) can be in the thousands of dollars, the availability of the vehicle finance contract provides a ready source of funds to pay the full cost. ... Read More »
A View From The Top
Interview with Mark Thorpe, Founder and President of The Impact Group
P&A Magazine had the opportunity to find out more information about Mark Thorpe and what his company, The Impact Group, is doing with electronic menu systems. The following interview discusses how Thorpe's menu system can benefit the F&I office in numerous ways, including productivity, connectivity, mobile technology, and also looks into the future. Tell us ... Read More »
P&A Industry News
CNA National Names New Actuarial Director
SCOTTSDALE – CNA National announced that Tim Schilling was appointed to the newly created position of actuarial director, effective Oct. 17. Schilling bring and extensive background in reserving, pricing, market research, business development, product development and underwriting, according to CNA National. "We are excited about the breadth of experience and focused knowledge that Tim brings ... Read More »
The Warranty Group Announces Agreement with EZShield
CHICAGO – Virginia Surety Company, Inc., a unit of The Warranty Group, Inc., announced an agreement with EZShield, a provider of identity protection, to provide benefits for its financial institution offering. The agreement includes ID Theft Expense Reimbursement as an added benefit to EZShield’s ID Protection Services. Dale Dabbs, CEO of EZShield stated, “Given the ... Read More »
Resource Automotive Client Lithia Motors Receives Dealer Award
CHICAGO – Resource Automotive, Inc. announced that Lithia Motors, Inc. has been named F&I Dealer of the Year by F&I and Showroom magazine. The award was presented to Steve Justice, F&I training manager, during a special ceremony at the magazine’s Industry Summit 2011 in Las Vegas. Lithia was one of seven operations named a 2011 ... Read More »
Finance Express Adds PACCO to Lender Portal
RANCHO SANTA MARGARITA — Finance Express announced that it has entered into a partnership with subprime automotive finance company Preferred Automobile Credit Co. (PACCO). Officials with PACCO said the deal will allow the Orwigsburg, Pa.-based company to expand its services to new dealerships. “Since the down turn of the economy, dealers need lenders more than ... Read More »
Automotive Industry News
SAAR to Reach Highest Level Since August 2009, TrueCar.com Predicts
SANTA MONICA – TrueCar.com is predicting that new light-vehicle sales (including fleet) will reach 1.035 million units, a 9 percent increase from October 2010 and 1.7 percent decrease from September 2011. The forecast translates into a seasonally adjusted annualized rate (SAAR) of 13.4 million units, which is on par with August 2009 SAAR levels, the ... Read More »
Ford Quality Tumbles as Japanese Win in Study
Ford Motor Co.'s reliability ranking in the Consumer Reports annual auto survey tumbled as its namesake brand slid to 20th from 10th last year among 28 brands while Japanese automakers captured nine of the top 10 spots. Ford's ranking suffered because the new Explorer SUV, Focus compact and Fiesta subcompact all scored below average for ... Read More »
VW Likely to Overtake Toyota as Top Carmaker in 2011, GM to Remain Second
Volkswagen AG will probably become the world's biggest carmaker this year, vaulting past Toyota Motor Corp. and General Motors Co. on gains in emerging markets. The German company's sales, third among carmakers in 2010, will probably rise 13 percent to 8.1 million vehicles this year, based on the average of three analysts surveyed by Bloomberg. ... Read More »
Harley to Recall More than 308,000 Motorcycles
DETROIT – Harley-Davidson Inc. is recalling about 308,000 motorcycles to fix a switch problem that can cause failure of the brake lights and possibly even the rear brakes themselves. The company said in documents filed last week with the National Highway Traffic Safety Administration that brake light switches can be exposed to too much heat ... Read More »
Braganini Joins Agent Summit Roster
LAS VEGAS — Organizers of Agent Summit 2012 have announced that John Braganini, principal of Great Lakes Companies, will deliver the event’s evening keynote address. The second annual Agent Summit, scheduled for March 12-14 at Caesars Palace Las Vegas is organized by Agent Entrepreneur and presented in partnership with F&I and Showroom. The event will ... Read More »
Auto Dealers Await Study on Showroom Standards, Cite ‘Financial Pressure’
Auto dealers are facing unprecedented pressure to invest in their facilities and want to quantify the return on that investment, Stephen Wade, chairman of the National Automobile Dealers Association said Thursday. The NADA has commissioned an independent study to gather data on what dealers get for the millions they spend when automakers demand cookie-cutter dealerships ... Read More »
Ford Says Wage Gains to Be Small
Ford Motor Co. said its total annual labor expenses will increase less than 1 percent over the four-year term of its new contract with members of the United Auto Workers union. The contract’s lump-sum payments to workers, including a $6,000 bonus to be paid to each of Ford’s 41,000 UAW workers for ratifying the contract, ... Read More »
BMW Expects to Keep U.S. Luxury Sales Lead Going Into 2012
Bayerische Motoren Werke AG, poised to become the best-selling luxury brand in the U.S. this year, can keep the spot in 2012's first quarter as it introduces its redesigned 3-Series sedan. "We have a window to stay No. 1 in the first quarter," Ludwig Willisch, who took over BMW's North American operations Oct. 1, said ... Read More »
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