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Ford Credit sees highest Q1 dealer share in 14 years

11:15 am U.S. ET | May 6, 2015
Ford Credit increased its share of U.S. retail loan and lease volume for Ford and Lincoln dealers to 45 percent in the first quarter, the highest first quarter in 14 years. Losses for bad loans were only 0.22 percent of the total outstanding, well below the 10-year average of 0.40 percent.... Read More »
 
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F&I Newsletter

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

JIM HENRY

CFPB plays up auto finance complaints

11:00 am U.S. ET | May 6, 2015
A report released by the Consumer Financial Protection Bureau covering nearly 30,000 military service member complaints over a three-year period shows that although gripes about auto loans were a small part of the mix, they were a large part of the...... Read More »


Subprime lending 'stable' despite worry about risk

11:45 am U.S. ET | May 6, 2015
The year got off to a decent start for subprime auto loans in terms of delinquencies and relatively low losses for bad loans, according to Fitch Ratings.... Read More »


Credit union volume grows

11:45 am U.S. ET | May 6, 2015
Credit unions on the CU Direct auto lending platform are on pace for record volume this year. For the first quarter of 2015, loan volume was 250,000 units, up 21 percent vs. the first quarter last year. Application volume was 960,000, up 27 percent.... Read More »


Aston Martin picks Ally Financial as preferred U.S. lender

11:44 am U.S. ET | May 1, 2015
Aston Martin Lagonda named Ally Financial, the former GM financing arm, as its preferred US auto lender to help the maker of luxury sports cars expand sales.... Read More »


AutoNation says no to captive

11:45 am U.S. ET | April 29, 2015
AutoNation, after exploring whether to launch its own captive finance company, is saying no to the idea. CEO Mike Jackson says the retailer will generate a better return from other investments.... Read More »


Porsche captive adds branded F&I products

12:00 pm U.S. ET | April 29, 2015
Porsche, Bentley and Lamborghini dealers in the U.S. are getting a new menu of F&I products to sell.... Read More »


JIM HENRY

Finally, a lender owns up

11:45 am U.S. ET | April 29, 2015
Auto lenders carefully avoid citing their rivals, especially when they want to criticize. So it was refreshing when Ally's CEO figuratively raised his hand this week.... Read More »


 
BY THE NUMBERS 
 

Most lenders cite subprime restraint

12:15 pm U.S. ET | April 29, 2015
GM Financial and Capital One are joining other auto lenders in citing tougher competition in subprime lending and voicing caution over the increase in auto loans to consumers with lower credit scores.... Read More »


Ally deal enables Mitsubishi to cut costs for capital, infrastructure

11:17 am U.S. ET | April 29, 2015
For years, Mitsubishi used an in-house finance arm to underwrite loans to dealers and customers as other small automakers relied on international banking giants to keep the capital flowing.... Read More »


Ally pushes to make up for lost GM lease business

8:01 am U.S. ET | April 28, 2015
Ally Financial is responding to GM pulling its subsidized lease business by getting more aggressive in near-prime and subprime loans, and by courting dealers harder than ever, especially non-GM and non-Chrysler dealers.... Read More »


Ally to take over Mitsubishi's U.S. lending arm

1:26 pm U.S. ET | April 27, 2015
Mitsubishi, one of the smallest car companies with a captive finance arm in the United States, is selling its book of business to Ally Financial, the former lending division of General Motors.... Read More »


CHRIS KUKLA

Troubling practices need attention now

12:01 am U.S. ET | April 27, 2015
Recognizing the proliferation of troubling practices that mirror the precrash mortgage market is important because these practices deserve attention now.... Read More »


RAJ SUNDARAM

Loans are at a healthy, rational level

12:01 am U.S. ET | April 27, 2015
While it's worthwhile to remember key lessons from the 2008 financial crisis, today's conditions in automotive subprime bear virtually no resemblance to the mortgage issues that precipitated that fateful bubble, says Raj Sundaram, co-president of...... Read More »


GM Financial Q1 net rises as lease volume skyrockets

2:17 pm U.S. ET | April 23, 2015
Captive finance company GM Financial had a giant increase in lease volume in the first quarter, as parent company GM switched to GM Financial as its exclusive preferred lender for Buick, Cadillac, Chevrolet and GMC subsidized leases.... Read More »


Dealers missing out on digital F&I sales, study finds

11:30 am U.S. ET | April 22, 2015
Consumers want F&I product information online rather than all-at-once at the end of their vehicle purchases, a new study finds.... Read More »


Asbury, Sonic see below-average F&I revenue at new-initiative stores

11:30 am U.S. ET | April 22, 2015
Two of the nation's biggest publicly traded dealership groups said early, small-scale results from their nontraditional dealerships -- either stand-alone used-vehicle stores or ones that use techniques such as no-haggle pricing -- showed below...... Read More »


Some auto lenders let others pursue volume

11:15 am U.S. ET | April 22, 2015
Some auto lenders are choosing not to chase volume. Consumer Portfolio Services and PNC Bank are consciously passing up volume to protect profits and their credit standards. Wells Fargo made a similar statement this month.... Read More »


JIM HENRY

Auto finance critic Warren stands firm on CFPB dealership oversight

11:15 am U.S. ET | April 22, 2015
Sen. Elizabeth Warren is once again calling for direct regulation of auto dealerships by the Consumer Financial Protection Bureau.... Read More »


Dealership gross profits see bigger impact from F&I

12:00 pm U.S. ET | April 15, 2015
The average dealership gained more from F&I last year, even though retailers' overall sales penetration for products such as extended service contracts and GAP dropped a fraction of a percentage point. On average, F&I accounted for 39.... Read More »


Wells Fargo, Chase adopt different lending approaches

12:00 pm U.S. ET | April 15, 2015
Wells Fargo and JPMorgan Chase, two of the biggest banks in auto finance, adopted opposite lending strategies in the first quarter.... Read More »


Q&A

New Black Book exec looks to help dealers close loans, leases faster

11:15 am U.S. ET | April 15, 2015
Barrett Teague, Black Book's new vice president of lender solutions, says dealership F&I managers are never far from his mind. In part that's because he's been an F&I manager himself. Teague, 43, joined Black Book on April 6.... Read More »


JIM HENRY

Women in automotive seek more peers

12:15 pm U.S. ET | April 15, 2015
A lot of dealer principals and general managers swear by their female salespeople and F&I managers and wish they had more. But in the business world at large, auto industry careers for women are a “best-kept secret.”... Read More »


Some dealers prep for flat fees

12:01 am U.S. ET | April 13, 2015
Dealer Mike Thompson believes he might soon lose the ability to make a healthy profit from finance reserves. His concern is well-founded.... Read More »


Penske targets 'I' in F&I to boost per-vehicle revenue

12:01 am U.S. ET | April 13, 2015
Penske Automotive Group Inc. is refining its training process on insurance product sales to boost overall finance and insurance revenues.... Read More »