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Jared Hamilton

Jared Hamilton Founder - CEO

Exclusive Blog Posts

Knowledge is Power, so Track Important Service Stats

Knowledge is Power, so Track Important Service Stats

J.D. Power and TrueCar have struck a deal for the sale of ALG, so it’s headed to a new home. Absorbing a company for $135 million that does much …

Do you suffer from Conversational Narcissism?

Do you suffer from Conversational Narcissism?

I know the title sounds like an ad for a clinical trial, but what I’m referring to is a problem that runs rampant in dealerships. If not checked, it …

Why Do We Make it So Hard to Pay A Repair Order?

Why Do We Make it So Hard to Pay A Repair Order?

Working on the dealer level, we know firsthand how difficult it can be as a "customer" to pay our repair order or get our own vehicles' statu…

The Conversation Shouldn't End At “What’s the Price?”

The Conversation Shouldn't End At “What’s the Price?”

Handling customer objections isn't always easy. Especially when the customer is calling you on the telephone; knowing what to say and how to approach t…

Fixed Ops Marketing Best Practices, Not Dirty Tricks | KPI Cafe Season 6 Episode 6

Fixed Ops Marketing Best Practices, Not Dirty Tricks | KPI Cafe Season 6 Episode 6

To round out our season, Reunion's own Chad Graves and Andrew Kocha join the KPI Cafe to discuss a wealth of topics regarding how dealerships can best …

With recent announcement from GMAC on their new credit score cutoffs at 700 FICO what steps can GM dealers take to still move metal?  Established relationships with local banks and lenders can pay huge dividends in these situations.

I have started a discussion in our forum to discuss how dealers can best respond to this situation and other like it coming down the pipe. http://www.drivingsales.com/bb/viewtopic.php?f=3&t=42

Full Release

GMAC Financial Services Statement on Automotive Finance Purchase Policy

DETROIT, Oct. 13 /PRNewswire/ -- GMAC Financial Services today implemented a more conservative purchase policy for consumer auto financing in the U.S. as a result of the lack of stability in the global capital and credit markets. The changes include limiting purchases to contracts with a credit score of 700 or above. Additionally, the company will restrict contracts with higher advance rates and longer terms. Last week GMAC also increased by 75 basis points the rate it charges dealers for providing non-incentivized consumer auto financing. These changes in pricing and underwriting are related to the current market environment, which has reduced access to funds and increased the cost of funds. The company currently expects these actions to remain in place until the credit markets stabilize and accessibility improves. GMAC's wholesale auto finance business is unchanged by the actions announced today.

Source: GMAC Financial Services

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