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LETTER TO THE EDITOR

Find F&I talent on showroom floor

12:01 am U.S. ET | Sept. 22, 2014
The best source for a new financial services manager is your showroom floor.... Read More »
 
F&I SPECIAL SECTIONS
Automotive News Digital Edition
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F&I NEWSLETTER ARCHIVE
F&I Newsletter

CLICK HERE to read the articles from the most recent F&I Report, and earlier newsletters.

CFPB's latest guide on discrimination falls short, auto lenders, dealers say

3:28 pm U.S. ET | Sept. 18, 2014
Auto lenders and dealers are largely disappointed with a long-awaited report by the Consumer Financial Protection Bureau that outlines the bureau's method for finding discrimination in auto loans.... Read More »


CFPB to shed light on identifying protected classes

12:01 am U.S. ET | Sept. 17, 2014
The Consumer Financial Protection Bureau is due to issue a white paper soon -- perhaps even this week -- that spells out in greater detail exactly how the bureau determines which consumers belong to legally protected classes of borrowers --...... Read More »


JIM HENRY

The case for casting a wider net with credit apps

12:01 am U.S. ET | Sept. 17, 2014
Auto lenders complain they hate it when dealership F&I managers send them credit applications outside their preferred range of credit scores.... Read More »


F&I panel: 'We can police ourselves'

12:01 am U.S. ET | Sept. 17, 2014
F&I administrators and dealerships should put price ceilings on F&I products to protect themselves from overregulation, a group of executives from F&I providers suggested at a recent industry conference.... Read More »


Late auto payments rise, but remain low, TransUnion says

12:01 am U.S. ET | Sept. 17, 2014
Auto loans delinquencies ticked up in the second quarter but remain low and pose no immediate threat to the auto-finance industry, an executive at credit bureau TransUnion says.... Read More »


Exeter CEO sees steady growth of 15-20%

12:01 am U.S. ET | Sept. 17, 2014
Exeter Finance, a subprime auto-financing specialist, should post “just steady growth” of 15 to 20 percent a year, CEO Mark Floyd says.... Read More »


Dealers prying payments from some lenders

12:01 am U.S. ET | Sept. 17, 2014
Dealers are still seeing big differences in how quickly lenders pay them on contracts in transit, despite awareness and technology campaigns aimed at speeding payments to dealers when retail customers finance vehicle purchases and leases.... Read More »


 
BY THE NUMBERS 
 

Fla. M-B dealer e-validates contracts, gets paid fast

12:01 am U.S. ET | Sept. 17, 2014
Mercedes-Benz of Coral Gables rarely has to wait more than 24 hours to be paid by lenders that commit to finance the Florida store's loan and lease customers, said Scott Cooper, the finance and insurance director.... Read More »


Captives likely to get CFPB oversight

4:35 pm U.S. ET | Sept. 16, 2014
The Consumer Financial Protection Bureau is expected to issue an important new rule on Thursday defining which nonbank lenders -- including captive finance companies -- will be considered “larger participants” and thus subject to CFPB...... Read More »


Banco Santander acquires Canada's Carfinco for $269 million

11:49 am U.S. ET | Sept. 16, 2014
Banco Santander SA agreed to buy Canadian car-financing company Carfinco Financial Group for about $269 million.... Read More »


U.S. Treasury trims Ally stake further

5:19 pm U.S. ET | Sept. 12, 2014
The Treasury started a second trading plan to cut its stake in Ally Financial. After completing its first plan, it now holds 66.2 million shares of Ally’s common stock, a statement said on Friday. That’s 13.... Read More »


JIM HENRY

F&I wait times have virtual repercussions

11:00 am U.S. ET | Sept. 10, 2014
Dealerships know that customer satisfaction suffers if car buyers spend time sitting outside the F&I office.... Read More »


Pay disparities are hurting morale, dealership retention, expert warns

11:45 am U.S. ET | Sept. 10, 2014
Rising disparities in pay between the F&I and sales departments are leading to morale problems and high turnover at dealerships, a noted F&I authority said at a conference in Las Vegas.... Read More »


Q&A

For subprime lender, success is about dealer service

11:00 am U.S. ET | Sept. 10, 2014
Southern Auto Finance Co., a small, regional subprime lender in Fort Lauderdale, Fla.... Read More »


JIM HENRY

Regulation forecast calls for rain, former CFPB exec says

11:00 am U.S. ET | Sept. 10, 2014
Rick Hackett, a former assistant director for the Consumer Financial Protection Bureau who was the bureau's liaison to the auto finance industry, predicted the bureau would probably unveil a long-awaited rule next week, defining which nonbanks fall...... Read More »


Subprime auto probe fails to restrain bond rush

11:21 am U.S. ET | Sept. 10, 2014
The federal probe into auto loans made to people with spotty credit is doing little to derail sales of bonds backed by the debt, even as investors demand more to own the riskiest pieces.... Read More »


FOILING FRAUD

Phony deals cost dealers reputation, vehicles and lenders

12:01 am U.S. ET | Sept. 8, 2014
For employees in a dealership's finance and insurance office, spotting a potentially fraudulent deal is top priority. A mistake not only can cost a dealership a vehicle, it can hurt the store's reputation and its relationships with lenders.... Read More »


Fla. M-B dealer e-validates contracts, gets paid fast

12:01 am U.S. ET | Sept. 8, 2014
Mercedes-Benz of Coral Gables rarely has to wait more than 24 hours to be paid by lenders that commit to finance the Florida store's loan and lease customers, said Scott Cooper, the finance and insurance director.... Read More »


Dealers prying payments from some lenders

12:01 am U.S. ET | Sept. 8, 2014
Dealers are still seeing big differences in how quickly lenders pay them on contracts in transit, despite awareness and technology campaigns aimed at speeding payments to dealers when retail customers finance vehicle purchases and leases.... Read More »


How to stop fraud

12:01 am U.S. ET | Sept. 8, 2014
Auto retailers can prevent fraud by recognizing certain customer clues, dealers and experts say.... Read More »


With digital data, DARCARS has F&I down to a science

12:01 am U.S. ET | Sept. 8, 2014
Finance and insurance managers at DARCARS Automotive Group have a digital Big Brother watching them, ready to spit out a minute-by-minute account of their customer interactions if their sales fumble.... Read More »


Credit unions take long-loan lead

12:01 am U.S. ET | Sept. 8, 2014
Credit unions are helping lead the charge into longer loan terms -- some longer than 84 months -- as customers seek to keep their monthly payments flat while taking out larger loans.... Read More »


Is it wise to keep putting the car before the cash?

12:01 am U.S. ET | Sept. 8, 2014
Dealerships can and should take some of the risk out of making spot deliveries, experts say.... Read More »


Credit union's key: 'Do everything right'

12:01 am U.S. ET | Sept. 8, 2014
The leading provider of auto loans in New Hampshire isn't a bank or a captive finance company.... Read More »


 


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