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Next AIADA chair to speak out on CFPB crackdown

12:01 am U.S. ET | Dec. 22, 2014
Bradley Hoffman, incoming chairman of the American International Automobile Dealers Association, says he plans to speak out about the Consumer Financial Protection Bureau's controversial positions on automotive lending.... Read More »
 
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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.

Forecasters see bigger loans, only modest uptick in delinquencies

11:45 am U.S. ET | Dec. 17, 2014
Favorable trends for auto lending should continue into 2015, including bigger average loans and leases and only small increases in delinquencies, analysts for credit bureaus TransUnion and Equifax predict.... Read More »


JIM HENRY

Will the CFPB redefine “larger”?

12:01 am U.S. ET | Dec. 17, 2014
Auto industry watchers that formally weighed in on the Consumer Financial Protection Bureau’s definition of “larger” auto lenders took predictable positions before the public comment period closed last week.... Read More »


Incoming AIADA head vows to speak out on CFPB

10:15 am U.S. ET | Dec. 17, 2014
Bradley Hoffman, incoming chairman of the American International Automobile Dealers Association, says he plans to speak out about the Consumer Financial Protection Bureau's controversial positions on automotive lending.... Read More »


Acura boss sees rise in leasing in 2015

11:15 am U.S. ET | Dec. 17, 2014
Acura should see a “steady lift,” rather than a big jump, in leases as a portion of its U.S. sales volume in 2015, the brand's general manager says.... Read More »


Ally, Wells Fargo prefer profit over volume

11:30 am U.S. ET | Dec. 17, 2014
Ally Financial and Wells Fargo Dealer Services, two of the nation’s largest auto lenders, say growing competition has them ready to sacrifice market share to protect profits.... Read More »


ONWARD ONLINE

After decades of store confinement, the F&I office is inching digital

12:01 am U.S. ET | Dec. 17, 2014
Lou Bregou, a director of operations at Driver's Village in Cicero, N.Y., says he has embraced putting financing tools on the dealership group's e-commerce website.... Read More »


Online F&I product sales a 'struggle'

12:01 am U.S. ET | Dec. 17, 2014
Dealership staffers must either present F&I products to customers when they take delivery of their car or contact them later by phone, says Lou Bregou, a director of operations at Driver's Village. Selling F&I online is "an uphill struggle," he says.... Read More »


 
BY THE NUMBERS 
 

In-store kiosks put F&I right in front of customers

12:01 am U.S. ET | Dec. 17, 2014
Michael Fastman is buying kiosks for BMW of Silver Spring, in Silver Spring, Md., where he is general manager, and BMW of Catonsville, in Baltimore, where he is in charge of operations.... Read More »


N.Y. Department of Financial Services subpoenas captives, 2 banks over subprime auto lending

7:10 pm U.S. ET | Dec. 11, 2014
New York state's financial services regulator has subpoenaed financing divisions of automakers including Ford, Honda, Nissan and Volkswagen, along with banks Santander and TD Bank, as part of a probe of possible consumer abuses in subprime auto...... Read More »


JIM HENRY

Who distorted what? Wording of CFPB statement will get its own investigation

11:30 am U.S. ET | Dec. 10, 2014
The ombudsman’s office for the Consumer Financial Protection Bureau said it would conduct an independent review into complaints that the CFPB’s press releases don’t match the consent orders they describe -- something...... Read More »


Lenders dispute CFPB's proposed threshold for oversight

11:00 am U.S. ET | Dec. 10, 2014
The Consumer Financial Protection Bureau, in its effort to extend its jurisdiction over “nonbank” auto lenders such as captive and independent finance companies, is reaching for lenders that are too small, the American Financial Services...... Read More »


JAMIE LaREAU

F&I jobs hold a powerful lure for women

11:00 am U.S. ET | Dec. 10, 2014
It seems women are keen to work in the finance and insurance department. In fact, F&I has the highest percentage of women employees in a dealership, after the office/administration department.... Read More »


Faster is better in F&I, Power survey shows

11:00 am U.S. ET | Dec. 10, 2014
The latest J.D. Power Sales Satisfaction Index Study underscores how important it is to get customers in and out of the F&I office as quickly as possible.... Read More »


Q&A

Westlake aims for 20% growth in 2015

11:00 am U.S. ET | Dec. 10, 2014
Westlake Financial Services, traditionally a subprime auto lender, has branched out into near-prime and prime-risk lending, plus commercial lending to dealerships.... Read More »


Lender group says CFPB rule would burden smaller players

8:38 pm U.S. ET | Dec. 8, 2014
In seeking to extend its jurisdiction over “nonbank” auto lenders -- including captive finance companies and independent finance companies -- the Consumer Financial Protection Bureau is reaching for lenders that are too small, the...... Read More »


ONWARD ONLINE

After decades of store confinement, the F&I office is inching digital

12:01 am U.S. ET | Dec. 8, 2014
Lou Bregou, a director of operations at Driver's Village in Cicero, N.Y., says he has embraced putting financing tools on the dealership group's e-commerce website.... Read More »


Online F&I product sales a 'struggle'

12:01 am U.S. ET | Dec. 8, 2014
Dealership staffers must either present F&I products to customers when they take delivery of their car or contact them later by phone, says Lou Bregou, a director of operations at Driver's Village. Selling F&I online is "an uphill struggle," he says.... Read More »


GM Financial ready to compete in 2015

12:01 am U.S. ET | Dec. 8, 2014
General Motors' captive finance company, GM Financial, is finally ready for prime time.... Read More »


Finance managers found on showroom floor

12:01 am U.S. ET | Dec. 8, 2014
After working as a sales representative for almost two years at Atlantic Hyundai in West Islip, N.Y., Russell Williamson was ready for more responsibility and the chance to earn more money.... Read More »


Group pushes states on F&I product rules

12:01 am U.S. ET | Dec. 8, 2014
Worry that federal regulators' crackdown on dealer markup might spill over into F&I products is revving an industry trade group's efforts to get state-by-state legal definitions for those products, and rules for how they're sold, on the books.... Read More »


Aluminum wave could boost dent-repair policies

12:01 am U.S. ET | Dec. 8, 2014
Automakers' growing use of aluminum body parts to save weight and fuel could create an opportunity for dealership F&I departments to sell more paintless dent removal policies, some F&I experts say.... Read More »


Used-car buyers are big F&I opportunity

12:01 am U.S. ET | Dec. 8, 2014
Otto Belovich believes it is a disservice to his customers -- especially those who buy used vehicles -- if he doesn't offer them the opportunity to purchase a service contract.... Read More »


Appearance products fight to stay on menu

12:01 am U.S. ET | Dec. 8, 2014
Shorter F&I product menus are crowding all but a few top sellers right off the menu, which can leave vehicle appearance products, such exterior finish and fabric protection, fighting for a spot.... Read More »


F&I, sales managers see paychecks converge

12:01 am U.S. ET | Dec. 8, 2014
The days of fat paychecks for finance and insurance managers may be ending.... Read More »