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ON THE WEB: Young People Value Cars for Work, Life
Fans Go Bats for Used Car Giveaways
Nearly all millennials agree that it is extremely or very important to have their own car to accomplish daily work and life tasks, according to a survey of customers of Enterprise Holdings.
Few Factor Credit into Purchase Decision
Just 42.74 percent of respondents that have purchased a car checked their credit score before purchase, and only 40.08 percent checked their full credit report, according to WisePiggy.com.
Toyota, Acura Retain Their Values Best
Toyota and Acura took home the top prizes in the fifth annual Edmunds.com Best Retained Value Awards. The awards recognize the brands and 2015 models that have the highest projected residual values after five years based on their average “cash” True Market Value (TMV) price during their first five months in the market.
DOG DAYS OF SUMMER: Things get crazy on the field and in the stands when the Round Rock Express gets ready to draw a name on Win a Used Car Night. By Sheile McGrath
It’s a Saturday night at Dell Diamond in Round Rock, Texas, where the Triple Aleague Round Rock Express is squaring off against the Oklahoma City Dodgers.
Tension is rising and the crowd is going wild, but it’s not the ninth inning, and the bases aren’t loaded with two outs – in fact, there’s not a single player on the field. It’s Win a Used Car Night,
and one lucky baseball fan is about to get the keys to a brand-new-to-them used car. “This is definitely our wackiest night and promotion of the year,” said Jill Cacic, director of communi-
cations for the Round Rock Express Baseball Club. Minor league baseball teams are known for their crazy promotions, but nothing brings in the fans like a Used Car Night, according Continued on page 6
Rush - Dated Material
Supreme Court Upholds Disparate Impact, But Limits Its Use While most people were paying attention to other U.S. Supreme Court rulings, one decision might have a big impact on auto finance. The Justices ruled 5-4 to uphold disparate impact as a partial basis for claims of racial bias. The case involved housing law, but legal experts believe it gives authority to regulators to pursue disparate impact claims in all financial transactions, including auto finance. Disparate impact uses statistical models to show bias, even when information isn’t included in the application. The Court limited the application of 1the 6/29/15 disparate impact Used_Care_News_7.175x1.8trim.pdf 11:28 AM theory and directed courts to act promptly and “examine
with care” plaintiff cases. The majority opinion made clear that a disparate-impact case cannot rely on statistics alone and that the accuser must also cite the specific policy that causes the disparate result, according to the Independent Community Bankers of America. ICBA still disagrees with the decision overall. “While the decision may thwart certain frivolous claims, the disparate-impact approach will promote litigation that would itself cause reputational damage, serious business disruption, and extraordinary financial expense—even when a lender eventually prevails,” said ICBA CEO Camden R. Fine.
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TAKE THE CHALLENGE AND ENTER TO WIN A $1500 TRAVEL CERTIFICATE SEE BACK PAGE
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