Everyone is Approved: Sub Prime Auto Loan Strategy Under Siege by John Oliver, CFPB, Wall Street, and Growing Diligence of BHPH Dealers

Situation with Sub Prime Auto Lending:

• 86% of people get to work by car: A Must to hold down job;
• Over 25% of auto loans are high risk hence high interest rate
• 19% is average sub prime interest rate for up to 7 years
• 30% of subprime auto loans default so repo & re-loan cycle

Significance of Where the Industry is & is going:

• Tired & aged used cars are sold & financed multiple times
• Industry has a Scam-Extraction Economy Image/Reputation
• Sub Prime Finance Bubble may be coming; Repeat of home loans
• BHPH dealers seize opportunity with less down & longer terms
• CFBP is seeking to police the sub prime market
• Reputable Sub Prime auto lenders & dealers seek to do it right

Sit back & standby to watch a very entertaining, engaging, & timely video.

News You Need to Know

dont-need-5g-cars-image “We Don’t Need 5G in Cars”: Report Captures Car Cockpit Data Fight Over Adoption of DSRC using 802.11p vs Extension of Wi-FI

Situation or Why the Fight?

• Mobile Experts LLC has released a hard-hitting study.
• Report investigates connectivity for telematics, vehicle-to-vehicle. (V2V) and vehicle-to-infrastructure (V2I) applications using DSRC & LTE,7 wireless apps for cars.
• Suggests new biz models for insurance & 5G technology prospects
• Fight grew out of political battle raging within the auto industry
• Wireless industry-led by Qualcomm--pushing for extension of Wi-Fi

Here is what the Report Contends: No Need for 5G in Cars
• Cars are already connected using 2G, 3G, and LTE.
• Authors say we don't see a role for 5G in the car.
• Predicts rise of new business models coming to the market.
• Such as Usage Based Insurance, fleet management, infotainment, & improved safety.

Learn what this MEANS to the auto market, see PDF and Link ________________________________________________________________________

ntk-social-media-image-posting Quit Social Media. Your Career May Depend on It.


Why Monitoring Need-to-Know Can be Source for Power:

More and more, you can rely on the publishing team at Automotive Digest to post, feature, and leverage substantive content from which you can learn and benefit by investing 5 minutes or less of Ingestion Time to get an idea or actionable to make you, yourself, and your presence more important and impactful.

What is the Significant Message in this great article?:

As the author says: "If you’re serious about making an impact in the world, power down your smartphone, close your browser tabs, roll up your sleeves and get to work."

Here is an irony about the point of this posting:
We will find ourselves going to Twitter and Facebook to post a link and plug that will drive traffic back to and then on to L2 Daily posting for the entire read.

Now go get this great article from the NYTimes.

donna-langley-pharrell at Inclusion
“Let’s Do Better” Doesn’t Work Anymore: 30 Reasons Why White Males in Hollywood & the Automotive Business Need to Listen, Change, & Act on Inclusion ASAP

The Situation:

Diversity and Inclusion is not working in Hollywood. Many say it is not working in automotive business, either.

So Variety Magazine decided to stage a conference to talk about Inclusion & what to do about it.

There may be a need for all business, not just in Hollywood or the Auto Business to heed, listen, and act on making Inclusion a central goal & strategy from now on.

The White Boys Network in Hollywood is about to abruptly changed as Women, Blacks, Latinos, Lesbians, LGBT, Disabled, and Older people have had it with the present system:

Click, Go, See, & Ingest the list of 30 Reasons why Inclusion is now a top priority for all Americans--Not just Hollywood.
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Industry People

Brian Geitner President, Media Solutions Group.Cox Automotive - 12/31/1969

Cox Automotive Names Brian Geitner President Of Media Solutions Group

Brian Geitner has been named President, Media Solutions Group. As President, Geitner will oversee the company's Autotrader, Kelley Blue Book and business divisions and brands.

Geitner will begin his new role on August 15, reporting directly to Mark O'Neil, Chief Operating Officer of Cox Automotive. Geitner succeeds Jared Rowe, who is departing the company for a new opportunity outside of the automotive industry.

Since 2015, Geitner was President of Financial Solutions Group at Cox Automotive responsible for the advancement of NextGear Capital. Under Geitner's leadership, NextGear Capital doubled in size, expanded internationally and became a powerful financing option for wholesale and independent dealers. Geitner joined Cox Automotive in 2012 as Chief Executive Officer of Dealer Service Corporation.

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