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Ally IPO opens new options for subprime car loans

12:01 am U.S. ET | April 16, 2014
Ally Financial's initial public offering last week benefits dealers because Ally expects to be able to compete more aggressively for subprime business after it sheds government ownership.... Read More »
 
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CLICK HERE to read the articles from the most recent F&I Report, and earlier newsletters.

NADA's fixed-rate plan gets lawyers' backing

12:01 am U.S. ET | April 16, 2014
The National Automobile Dealers Association's program for dealerships to establish a fixed rate for dealer reserve was strongly endorsed by legal experts at the Automotive Resource Network conference in New York this week.... Read More »


Subprime lender adds markets, resists looser standards

12:01 am U.S. ET | April 16, 2014
Subprime auto lender Consumer Portfolio Services is resisting a trend among some of its rivals to push “too aggressively” to loosen credit standards, CEO Charles Bradley says.... Read More »


JIM HENRY

Inquiry into alleged CFPB bias picks up steam

12:01 am U.S. ET | April 16, 2014
The issue of whether, ironically, the Consumer Financial Protection Bureau allegedly discriminates against its own employees has got legs.... Read More »


Chrysler Capital offers perks for dealers' loyalty

12:01 am U.S. ET | April 14, 2014
Chrysler Capital has launched a dealer-loyalty program that offers participants longer car loans and lower rates but requires them to get a quote from Chrysler Capital for every customer loan.... Read More »


Battered doorstop makes the pitch: Get wheel protection

12:01 am U.S. ET | April 14, 2014
Finance and insurance professionals say sales of tire-and-wheel protection policies were higher in the first few months of 2014 than they were in 2013 as motorists contended this year with roads ravaged by one of the coldest, snowiest and iciest...... Read More »


Ally raises $2.38 billion in IPO priced at $25 a share

6:00 pm U.S. ET | April 9, 2014
Ally Financial raised $2.38 billion in its initial public offering after pricing the shares at the bottom of the proposed range. The shares, listed on the New York Stock Exchange under the symbol ALLY, fell 4 percent today to close at $23.98.... Read More »


Negative equity ticks up

12:01 am U.S. ET | April 9, 2014
More car customers are upside down at trade-in time, owing more on the trade-in vehicle than it's worth.... Read More »


 
BY THE NUMBERS 
 

ABA: Auto loan delinquencies flat in 4th qtr.

12:01 am U.S. ET | April 9, 2014
Auto-loan delinquencies were essentially flat at a low level in the fourth quarter of 2013, edging down very slightly from the same period a year earlier, according to data released today in the American Bankers Association Consumer Delinquency...... Read More »


CarMax ups F&I chargeback reserves, reflecting subprime growth

12:01 am U.S. ET | April 9, 2014
Public used-car specialist CarMax increased its reserves for chargebacks on extended service contracts and guaranteed asset protection policies in its latest fiscal quarter.... Read More »


RouteOne expects 2014 e-contract volume to double

12:01 am U.S. ET | April 9, 2014
RouteOne expects to more than double its electronic contract volume this year, to an estimated 1.6 million contracts, after more than tripling volume last year.... Read More »


Ally Financial IPO means freedom to make more auto loans, more risk

6:40 am U.S. ET | April 9, 2014
The Treasury Department has had Ally Financial in a regulatory headlock since its 2008 bailout. As the government sells shares in an initial public offering, Ally will soon breathe again -- and take on more risk.... Read More »


JIM HENRY

Misleading sales ads hurt F&I

12:01 am U.S. ET | April 9, 2014
State and federal regulators have cracked down this year on misleading dealership advertising. In just about every case, their complaint was that the advertising failed to adequately disclose financial terms or hidden costs.... Read More »


Dealerships, lenders bolster compliance staffs in face of CFPB crackdown

12:01 am U.S. ET | April 2, 2014
Auto lenders and dealerships are strengthening their compliance staffs as the Consumer Financial Protection Bureau cracks down on lending practices.... Read More »


Auto finance outlook is good for 2014, report says

12:01 am U.S. ET | April 2, 2014
The outlook for auto finance this year is “mildly less positive” relative to extraordinarily favorable conditions, according to analysts for NADA Used Car Guide.... Read More »


GM Financial, Ally swap corporate profiles

12:01 am U.S. ET | April 2, 2014
A new and much bigger GM Financial is emerging this year -- a global, mostly prime-risk auto lender that looks a lot like the old GMAC captive finance company.... Read More »


Former Fla. Dodge store loses arbitration bid in suit over sloppy paperwork

12:01 am U.S. ET | April 2, 2014
In 2004 Roberto Basulto and Raquel Gonzalez went to a dealership in Hialeah, Fla., to buy a new 2005 Dodge Caravan. Although they spoke only Spanish, all the documents they signed were in English and some were incomplete when they were signed.... Read More »


JIM HENRY

Off-lease surge should spark even more leasing

12:01 am U.S. ET | April 2, 2014
Scheduled lease terminations are expected to grow again in 2014, providing a strong tailwind for additional leases this year and higher customer loyalty.... Read More »


LETTER TO THE EDITOR

Service contracts keep lives on track

12:01 am U.S. ET | March 31, 2014
Regarding "Extended service contract? Skip it, Consumer Reports tells readers," autonews.com, March 10: People in the auto industry are well aware of the arguments "experts" use to persuade people to avoid purchasing vehicle service contracts.... Read More »


JIM HENRY

Ally takes step toward 'free at last' with IPO

12:01 am U.S. ET | March 27, 2014
It's been a long time coming, but Ally Financial finally filed for its initial public stock offering today -- another step in a long process toward becoming a truly independent company.... Read More »


How a Texas Honda store honed a hybrid sales/F&I system

12:01 am U.S. ET | March 26, 2014
After four years of using a hybrid process for sales and F&I, First Texas Honda in Austin, Texas, has learned what works and what doesn’t.... Read More »


Chrysler Capital on track to hit first-year volume target

12:01 am U.S. ET | March 26, 2014
Chrysler Capital, the private-label preferred finance company for Chrysler Group, is on track to hit a first-year volume target May 1 that will enable it to renew its 10-year agreement with Chrysler.... Read More »


Warranty Group changes hands to another private equity firm

12:01 am U.S. ET | March 26, 2014
The Warranty Group, a provider of extended-service contracts, is moving from one private-equity owner to another. TPG of Fort Worth, Texas, has agreed to acquire The Warranty Group from Onex Corp of Toronto.... Read More »


CEO: Chase's top job is 'serve the dealers'

12:01 am U.S. ET | March 26, 2014
Thasunda Duckett can light up a room, even one filled with buttoned-down bankers and auto lenders.... Read More »


The many schools of thought on F&I school

12:01 am U.S. ET | March 26, 2014
Completing the College of Automotive Management's online F&I program in 2011 changed Derek Spady's life.... Read More »


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