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John Sternal's Blog – April 2020 Archive (8)

PureCars Data: Early Stay-at-Home States Showing Positive Signs for Auto Dealers

Here is the latest COVID-19 report for auto dealers, filled with data and insights from PureCars that shows that continued impact the pandemic is having on the industry, tips to help dealers make the right decisions for their business, and trends that show where dealers in some of the earliest and hardest-affected…

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Added by John Sternal on April 28, 2020 at 6:00am — No Comments

LEASE CREDIT APPROVAL RATES DIP SLIGHTLY TO 69.3% IN MARCH

Lease Approval Ratings and Consumer Shopping Habits Shift Amongst COVID-19 Pandemic

 

Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 69.3% approval rate in March, a slight decline from the February rate of 72.3%.

 

March experienced a higher number of applicants with qualifications…

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Added by John Sternal on April 23, 2020 at 7:33am — No Comments

Best Practices in Credit Reporting Coding In Disaster Scenarios

Below is an article written by Jenn Reid at Equifax that offers important information on customer credit for dealers/F&I and lenders. I wanted to pass along to my dealer network here so they could benefit from the information.

Given the unprecedented climate that has taken place resulting from the COVID-19 outbreak and containment efforts, we have received a large number of questions in regards to how this event impacts credit reporting particularly given the recent…

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Added by John Sternal on April 21, 2020 at 9:00am — No Comments

SURVEY: 61% OF COMPANIES FINANCING EQUIPMENT LACK MODERN PROCESS MANAGEMENT TECHNOLOGY THAT CAN BE CRITICAL TO BUSINESSES IN TIMES OF DOWNTURN

Majority of Finance Executives Report Deficiency in Sophisticated Systems to Help Manage Complex Loans and Transactions

BURNABY, BC (April 16, 2020) - Inovatec Systems Corp., a provider of industry-leading, cloud-based software solutions for all financial institutions, today announced the results of its latest survey, showing 61% of executives who finance equipment reported their organization lacks modern process management…

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Added by John Sternal on April 16, 2020 at 12:41pm — No Comments

COVID-19 Recovery Roadmap: Bold Dealer Strategies that are Paying off Big

Thu, Apr 23, 2020 2:00 PM - 3:00 PM EDT

About:

Join PureCars Founder and CEO, Jeremy Anspach, as he sits down with fellow thought leaders David Kain and Rick Ricart to discuss what recovery looks like for auto dealers as we begin to look toward re-opening from the COVID-19 Crisis. Jeremy, David and Rick will discuss the bold strategies that are paying off big for…

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Added by John Sternal on April 16, 2020 at 12:07pm — No Comments

Equifax Webinar: Credit Reporting During the COVID-19 Pandemic

The COVID-19 has impacted virtually every aspect of personal and business life including the credit reporting marketplace.  The recently signed CARES Act includes measures related to reporting information during these times. The automotive industry is responding by leveraging credit reporting codes that are available for times of disaster to help mitigate the potential negative impact of late, missed, or deferred auto loan payments.…

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Added by John Sternal on April 15, 2020 at 9:07am — No Comments

PureCars Weekly Data & COVID-19 Dealer Report

Automotive dealer advertising and attribution technology provider, PureCars, just released its weekly COVID-19 Dealer Report for the week of April 10, 2020. It is the third installment of its weekly report. The report offers weekly data insights on shopper trends to help auto dealers make up-to-the-minute decisions that are best for their business. Please …

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Added by John Sternal on April 13, 2020 at 11:19am — No Comments

JTA, Beep & NAVYA Autonomous Shuttles Help Transport COVID-19 Tests Collected at Mayo Clinic Drive-Thru Site in Jacksonville

The Jacksonville Transportation Authority (JTA), Beep Inc. and NAVYA partner with Mayo Clinic to safely transport COVID-19 samples on their Jacksonville Campus

For the first time in the United States, autonomous vehicles are being used to transport medical supplies and COVID-19 tests at Mayo Clinic in Florida.

At a time when healthcare resources and personnel are…

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Added by John Sternal on April 2, 2020 at 10:20am — No Comments

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