Latest News Stories

According to TransUnion, consumers now owe $1 trillion on their car loans, the first time the threshold has ever been broken. The loan balances have been driven up by a combination of three factors—strong car sales, rising car prices and low (and competitive) interest rates. In fact, borrowers...

Following the best October auto sales since 2001, the industry is on pace to sell the most new cars and trucks ever in a single year, and break the all-time record of 17.41 million vehicles set in 2000. According to Autodata Corp., 1.46 million new cars and trucks...

During its meeting on November 18, 2015, the NJ CAR Board of Trustees recognized Outgoing Chairman John Manganelli. John was presented with a plaque by Chairman Larry Kull (Burns-Kull Automotive Group) and NJ CAR President Jim Appleton. Other Senior Officers for the 2015-2016 association year include: Vice Chairman...

The U.S. House of Representatives passed a bill on November 18, 2015 that would revoke the U.S. Consumer Financial Protection Bureau’s (CFPB) 2013 auto lending guidance. The legislation (H.R. 1737- the Reforming CFPB Indirect Auto Financing Guidance Act), passed by a 332-96 vote.The CFPB’s 2013 guidance suggests lenders...

December 9, 2015 NJ CAR will be conducting a half-day Seminar for Service Managers and Service Advisors December 9, 2015, at the DoubleTree By Hilton (700 Hope Road, Eatontown, NJ 07724). Ken Carlson of ManageRite will provide all registrants with proven tips on selling more service.TURNING THE...

Larry Kull, President of Burns-Kull Auto Group in Marlton, NJ, assumed the NJ CAR Chairmanship, effective November 1, 2015. He succeeds John Manganelli as Chairman. Larry is a 36-year veteran of the retail automotive industry in New Jersey and first joined the NJ CAR Executive Committee in 2009...