If you sell cars for a living, chances are you’ve already had customers who want to pay with crypto or finance a vehicle using their crypto as collateral. Why wouldn’t you accommodate them?
A shortage of computer chips is a big factor in low inventories of new vehicles, and that’s driven up prices. Lower new-vehicle production also means fewer, and costlier, used cars that are nearly new.
Using a measure that’s not strictly automotive, TransUnion’s Satyan Merchant says it’s encouraging that consumers continue to pay more than their minimum payments on their monthly financial obligations.
AUL, based in Napa, CA, has a history of offering high-mileage F&I products going back more than 30 years, says Scott Karchunas, president of Protective Life’s Asset Protection Division, which has acquired AUL.
The FTC’s Safeguards Rule requires detailed procedures and specific criteria that auto dealers must implement to provide better protection and to curb data breaches and cyberattacks that could jeopardize sensitive customer data.