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Dealer groups charge CFPB is unresponsive

12:00 pm U.S. ET | March 25, 2015
Dealer trade groups are asking members to seek help from their elected representatives to prod the Consumer Financial Protection Bureau into responding to a lender study released last fall that was highly critical of its method of determining discrimination in auto finance.... 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.

Credit union pilot targeting subprime borrowers shows promise

12:30 pm U.S. ET | March 25, 2015
A small pilot program to encourage credit unions to do more subprime auto lending has helped participants gain some business but is still several steps away from providing a model for a larger effort.... Read More »


Store tweaks sales, F&I strategy for Gen Y

12:01 am U.S. ET | March 25, 2015
Dealership managers Austin Salinas and Chris Gottselig know how to sell to Gen Y. That's because they fall into that category themselves.... Read More »


Lenders raise red flags over CFPB plan to publish consumer complaints

12:00 pm U.S. ET | March 25, 2015
Auto lenders are lining up to oppose the Consumer Financial Protection Bureau’s plan to publish consumer complaints with financial services providers on its website.... Read More »


Volvo's young captive explores new territory

12:01 am U.S. ET | March 25, 2015
Volvo Car Financial Services U.S. is a young captive finance company, in business only since late 2012. But its leadership is seasoned.... Read More »


JIM HENRY

If dealers don't weigh in, they can't gripe

12:30 pm U.S. ET | March 25, 2015
Dealers have a chance right now to weigh in on what they like and don’t like about their lenders, and they shouldn’t miss the opportunity.
... Read More »


Insurance rates on aluminum F-150 hold for now

12:01 am U.S. ET | March 23, 2015
For now, motorists' yearly insurance premiums for the 2015 aluminum-bodied F-150 are about the same as for the 2014 steel model -- good news for Ford.... Read More »


GM dealers: Warranty, maintenance cuts could help F&I, hurt service

11:00 am U.S. ET | March 18, 2015
General Motors' dealers don't seem especially disturbed by the automaker's decision to scale back its powertrain warranty and free maintenance visits on Buick, Chevrolet and GMC vehicles.... Read More »


 
BY THE NUMBERS 
 

Dealers, lenders still angling over laws governing F&I tactics

11:00 am U.S. ET | March 18, 2015
Dealers and auto lenders are keeping a close eye on various dealer-backed state laws that seek to restrict what automakers’ captive finance companies can do to induce dealerships to sell F&I products backed by the factory or a specific vendor.... Read More »


Q&A

Consistent F&I pricing key to compliance

11:00 am U.S. ET | March 18, 2015
As regulators scrutinize auto lending practices, companies in the F&I space have made compliance with state and federal rules a priority too.... Read More »


JIM HENRY

Size of average tax refund makes a decent down payment

11:45 am U.S. ET | March 18, 2015
For anybody keeping track -- which is to say, anybody interested in subprime auto lending – U.S. tax refunds have fallen a bit more behind than they were a few weeks ago.... Read More »


Stakes are high for Ally's new CEO

12:01 am U.S. ET | March 17, 2015
New Ally Financial CEO Jeffrey Brown must hit the ground running. Along with a sizable to-do list, he must deal with a shrinking share of business supported by incentives from former parent GM.... Read More »


Jump-starting car sales from the service lane

12:01 am U.S. ET | March 17, 2015
Mike Bowsher uses software at the service desk to help him jump-start the sales process at his stores.... Read More »


Ally adds 7-year loans, as debate over risk heats up

12:01 am U.S. ET | March 11, 2015
The slow march toward 84-month loans is adding fuel to the debate over whether auto lending is getting too risky, possibly threatening the economy the way subprime mortgages did during the run-up to the 2008-09 financial crisis.... Read More »


GM Financial will double earnings by 2018, GM says

11:45 am U.S. ET | March 11, 2015
GM expects earnings from GM Financial “to more than double by 2018,” GM President Dan Ammann told investors this week. GM wants pretax earnings for GM Financial to rise from $815 million in 2014 to more than $1.6 billion in 2018.... Read More »


Q&A

Exeter picks up the pace on approvals

12:01 am U.S. ET | March 11, 2015
Exeter Finance's new software platform, which accelerates decisions on customer credit applications and speeds sales transactions, is making it easier for dealerships to move cars.... Read More »


JIM HENRY

Congressmen get testy with CFPB chief Cordray

11:45 am U.S. ET | March 11, 2015
The Consumer Financial Protection Bureau and its critics on the House Financial Services Committee traded jabs in a tense session last week as CFPB Director Richard Cordray presented the bureau's semiannual report.... Read More »


TO SERVE AND PROTECT

Dealerships work to safeguard data as security breaches loom

12:01 am U.S. ET | March 9, 2015
Today, practices designed to protect customer data are becoming commonplace as regulators increasingly view auto dealerships as financial institutions in terms of the magnitude of personal consumer information collected in the F&I department.... Read More »


Stakes are high for Ally's new CEO

12:01 am U.S. ET | March 9, 2015
New Ally Financial Inc. CEO Jeffrey Brown must hit the ground running. Along with a sizable to-do list, he must deal with a shrinking share of business supported by incentives from former parent General Motors.... Read More »


Why dealer's sold on one-price, one-person

12:01 am U.S. ET | March 9, 2015
The One Price, One Person sales model calls for a single sales employee handling a customer's entire vehicle transaction with no price haggling, including financing and the sale of ancillary F&I products.... Read More »


Store tweaks sales, F&I strategy for Gen Y

12:01 am U.S. ET | March 9, 2015
Dealership managers Austin Salinas and Chris Gottselig know how to sell to Gen Y. That's because they fall into that category themselves.... Read More »


Jump-starting car sales from the service lane

12:01 am U.S. ET | March 9, 2015
Mike Bowsher uses software at the service desk to help him jump-start the sales process at his stores.... Read More »


Toyota Financial adds products, bolsters support

12:01 am U.S. ET | March 9, 2015
Toyota Financial Services is taking a more aggressive marketing stance this year to improve customer retention.... Read More »


Open-air designs create F&I privacy puzzle

12:01 am U.S. ET | March 9, 2015
Though walls and locked doors still are considered the sure-fire way to keep customer data safe today, manufacturers and some automotive retailers are exploring ways to move the finance and insurance part of the sales transaction outside the...... Read More »


Small-time security threats bigger concern

12:01 am U.S. ET | March 9, 2015
The biggest threats to a dealership's data aren't Russian hackers breaking through electronic firewalls or robots trying a thousand passwords on security codes until they finally crack into the system.... Read More »