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Aluminum wave may mean more dent & ding policies

8:04 am U.S. ET | Dec. 3, 2014
The growing use of aluminum in car bodies 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 »


GM Financial CEO sees big growth ahead

12:01 am U.S. ET | Dec. 1, 2014
It has taken four years, but GM Financial is finally offering a full range of products to General Motors dealers, prompting the captive lender's CEO to predict a "tremendous amount of growth" in 2015. says CEO Dan Berce.... Read More »


AutoNation readies branded F&I products

12:01 am U.S. ET | Dec. 1, 2014
AutoNation will start selling private-label F&I products in 2015 as part of the rollout of its new digital storefront.... Read More »


Delinquency uptick on target, analysts say

11:30 am U.S. ET | Nov. 26, 2014
Analysts have been predicting for the past two years or so that auto loan delinquencies would grow, but the numbers are only now starting to catch up with the forecasts.... Read More »


VW Credit, Lincoln Financial tops in consumer satisfaction; captives sweep financing study

11:30 am U.S. ET | Nov. 26, 2014
Website enhancements and a consumer invoice redesign paid off for Volkswagen Credit, which ranked tops among mass-market lenders in the J.D. Power 2014 U.S. Consumer Financing Satisfaction Study.... Read More »


More subprime lenders are on the hot seat

11:30 am U.S. ET | Nov. 26, 2014
Three regulatory agencies -- two in New York and the Consumer Financial Protection Bureau in Washington -- have taken distinct actions recently against three different subprime auto lenders.... Read More »


ARLENA SAWYERS

Popping the subprime bubble myth

12:01 am U.S. ET | Nov. 24, 2014
There is no subprime auto loan bubble, darn it. That message came through loud and clear at session after session devoted to subprime lending during the Used Car Week Conferences sponsored by Auto Remarketing magazine this month in Las Vegas.... Read More »


New study slams CFPB methodology

12:01 am U.S. ET | Nov. 19, 2014
The statistical method the Consumer Financial Protection Bureau uses to identify which consumers belong to minority groups correctly identified African-American borrowers only 24 percent of the time.... Read More »


AutoNation to add branded F&I products next year

12:01 am U.S. ET | Nov. 19, 2014
AutoNation will start selling private-label F&I products in 2015 as part of the rollout of its new digital storefront.... Read More »


Demand for faster deals could speed e-contracting

12:01 am U.S. ET | Nov. 19, 2014
Dealerships are trying hard to speed sales transactions, and that may give a shot in the arm to electronic signatures and e-contracting for auto loans, experts say.... Read More »


Credit unions aim to boost auto loans in 2015

10:00 am U.S. ET | Nov. 12, 2014
Credit unions are putting auto loans on the front burner in 2015. Nearly half of credit unions that responded to a recent survey ranked auto loans as their No. 1 growth opportunity in the next 12 months, TransUnion said.... Read More »


Online financial transparency trumps lowest price, dealer says

10:00 am U.S. ET | Nov. 12, 2014
Customers who apply for vehicle financing on driversselect.com get real information about interest rates, down payments and monthly payments that does not change once they arrive at the Dallas used-only dealership, CEO Steve Hall said.... Read More »


Merger raises question about finance veteran Landy's next move

10:00 am U.S. ET | Nov. 12, 2014
The newly merged Flagship Credit Acceptance and CarFinance Capital will be led by Flagship CEO Michael Ritter, private-equity firm Perella Weinberg Partners, which oversees both companies, said in unveiling the deal last week.... Read More »


Bundlers beware: 1-price packaging pitfalls

12:01 am U.S. ET | Nov. 10, 2014
Dealer David Kelleher is such a fan of product bundling, he looks for it in everything he buys.... Read More »


Q&A

How some customers cheat themselves

12:01 am U.S. ET | Nov. 5, 2014
When Hennessy Buick-GMC in Georgia signed up this year for an Equifax system that automatically verifies employment and income, Finance Director Blake Bailey thought the system would mostly identify people who had overstated their income.... Read More »


Why Santander says it's behind on Chrysler Capital targets

12:01 am U.S. ET | Nov. 5, 2014
Santander Consumer USA has a long way to go to hit the Chrysler Capital sales penetration targets called for in its contract with Chrysler Group.... Read More »


GM's summer deals stoke Ally volume

12:01 am U.S. ET | Nov. 5, 2014
Summer incentive programs at General Motors boosted Ally Financial's volume of subvented new-car loans by $800 million in the third quarter, the lender says.... Read More »


GM pulls branded F&I sales from GM Financial

12:01 am U.S. ET | Nov. 3, 2014
General Motors is bringing sales of its branded finance and insurance products in-house, taking over from captive finance company GM Financial, in a move designed to get those products on more GM dealerships' radar.... Read More »


SEC investigates Ally on subprime loans, securitization

2:08 pm U.S. ET | Oct. 31, 2014
Ally Financial is being investigated by the Securities and Exchange with regard to “subprime automotive finance and related securitization activities.”... Read More »


GM takes charge of its branded F&I products

6:53 am U.S. ET | Oct. 29, 2014
General Motors is bringing the sales of its branded F&I products in-house, taking over responsibility from captive finance company GM Financial, in a move designed to give those sales a shot in the arm and get those products on more GM dealerships'...... Read More »


Huntington Bank focuses on internal auto loan growth

7:22 am U.S. ET | Oct. 29, 2014
Huntington Bank, of Columbus, Ohio, switched gears in the last year from expanding its footprint and adding new markets to cultivating more business with its existing dealer network.... Read More »


Captives see big rise in leases

7:10 am U.S. ET | Oct. 29, 2014
Leases accounted for almost half of GM Financial originations in the United States and Canada in the quarter. That's a big increase for the GM captive finance company and part of an industry trend that carried leasing to new highs.... Read More »


Ally swings to $356 million Q3 profit on higher auto-loan demand

8:40 am U.S. ET | Oct. 29, 2014
Ally Financial said that its third-quarter profit jumped from a year-earlier loss because of higher demand for loans from car dealerships.... Read More »


GM Financial profits down despite higher volumes

3:10 pm U.S. ET | Oct. 23, 2014
For the second quarter in a row, net income fell slightly for GM Financial despite sharply higher loan and lease originations. The captive finance company today reported net income of $158 million in the third quarter of 2014, down 1.... Read More »


Sonic learns the importance of paperwork, staffing

12:01 am U.S. ET | Oct. 22, 2014
In launching its One Sonic-One Experience initiative, Sonic Automotive had the technology, the store and the full attention of its top management committed to making it work.... Read More »


Huntington, Fifth Third, Capital One target prime-risk auto loans

12:01 am U.S. ET | Oct. 22, 2014
Some big banks in auto lending are responding to tougher competition by zeroing in on prime-risk loans. Huntington Bank and Fifth Third Bank are restricting lending to prime contracts only.... Read More »


Consumer Portfolio grows, staffs up for tax-refund season

12:01 am U.S. ET | Oct. 22, 2014
Consumer Portfolio Services increased auto originations 35 percent in the third quarter to $279.3 million, aided by a slowdown in subprime loans at competing lenders.... Read More »


Anderson named CEO at Exeter Finance

12:01 am U.S. ET | Oct. 22, 2014
Subprime auto lender Exeter Finance Corp. named Thomas Anderson its CEO, succeeding Mark Floyd, who will continue to serve on the company's board of directors.... Read More »


CFPB faces legal hurdle in regulating F&I products

12:01 am U.S. ET | Oct. 15, 2014
It’s clear the Consumer Financial Protection Bureau would like to increase regulation of what it calls “add-on” F&I products such as extended-service contracts and GAP.... Read More »


Wells Fargo, Chase boost auto lending

12:01 am U.S. ET | Oct. 15, 2014
Wells Fargo expects to keep its position as the No. 1 U.S. auto lender by volume as auto lenders report third-quarter results.... Read More »


Lithia expects flat per-unit F&I revenue through 2015

12:01 am U.S. ET | Oct. 15, 2014
Lithia Motors expects average F&I revenue per vehicle retailed to stay flat through the rest of 2014 and 2015, at the current level of about $1,200 on a same-store basis.... Read More »


Pohanka group prevails in suit over GAP coverage

12:01 am U.S. ET | Oct. 15, 2014
A proposed class-action suit challenging the validity of the GAP coverage sold by Pohanka group dealerships has been tossed by a federal judge in Baltimore.... Read More »


How to navigate the incentives maze

12:01 am U.S. ET | Oct. 13, 2014
From cash rebates to discount financing to lease subvention deals, complex automaker incentive programs keep dealership F&I departments constantly on their toes to find car buyers the best deals.... Read More »


Dealers to face more lender scrutiny

12:01 am U.S. ET | Oct. 8, 2014
Dealerships can expect more scrutiny from more lenders -- possibly including new attention aimed at leases -- when the “larger participants” rule proposed last month by the Consumer Financial Protection Bureau is enacted, possibly by...... Read More »


Q&A

TD Auto Finance sheds stores, eschews subprime

12:01 am U.S. ET | Oct. 8, 2014
TD Auto Finance has shed about 2,800 dealerships this year in its campaign to cut low-volume stores and concentrate on dealerships that send the most business. Many of the dealerships cut were independent, used-car stores.... Read More »


GM Financial has big role in GM master plan

12:01 am U.S. ET | Oct. 8, 2014
GM Financial will have an oversized role in General Motors’ efforts to increase revenue, market share and customer loyalty in the U.S. and other mature markets through 2020, GM President Dan Ammann says.... Read More »


Loan fraud inquiry focuses on used-car dealers, report says

12:20 pm U.S. ET | Oct. 2, 2014
Federal and state authorities are investigating used-car dealerships to examine if they are inflating borrowers' income or falsifying employment information on loan applications to ensure that anyone can buy a car, the New York Times...... Read More »


Chrysler Capital lowers rate cap on dealer reserve

12:01 am U.S. ET | Oct. 1, 2014
Chrysler Capital is cutting its maximum permissible dealer reserve to 175 basis points, or 1.75 percentage points, effective today. The previous maximum was 200 basis points.... Read More »


Ford Credit rolls out 75-month loans nationwide

12:01 am U.S. ET | Oct. 1, 2014
Ford Motor Credit has joined the trend toward longer loans, rolling out 75-month terms nationwide starting today. The company previously had conducted a pilot program.... Read More »


Q&A

F&I managers need intelligence, empathy -- and good training

12:01 am U.S. ET | Oct. 1, 2014
Today’s all-out emphasis on regulatory compliance has led to the biggest change in F&I training in recent memory, says Robert Serum, a career educator in dealership operations.... Read More »


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

12:01 am U.S. ET | Oct. 1, 2014
Dealerships can and should take some of the risk out of making spot deliveries, experts say.... Read More »


Buyers snap up pricier models

12:01 am U.S. ET | Sept. 29, 2014
Consumers in the United States are willingly paying more than ever for new vehicles, enticed by low interest rates, cheap leases and ubiquitous six-year loans that keep monthly payments affordable while the total price tag rises by thousands of...... Read More »


JAMES B. TREECE

How to end predatory auto-loan practices

12:01 am U.S. ET | Sept. 29, 2014
Americans won't abide companies that gouge minorities and other vulnerable consumers.... Read More »


Auto finance growth expected to boost car sales into 2015

12:01 am U.S. ET | Sept. 24, 2014
The growth in U.S. auto sales has slowed but a healthy auto loan and lease environment should continue to support higher sales the rest of this year and next, Moody's Analytics says.... Read More »


Q&A

CFPB’s new rule ups costs for small lenders, creates unlevel field

12:01 am U.S. ET | Sept. 24, 2014
The Consumer Financial Protection Bureau’s proposed new rule extending its jurisdiction to include “larger participant” nonbank auto lenders has some shortcomings, says Bill Himpler, executive vice president of the American...... Read More »


How F&I managers can stay credible with 6 key audiences

12:01 am U.S. ET | Sept. 24, 2014
The customer is only one of a half-dozen audiences F&I managers need to maintain credibility with if they want to be successful, F&I trainer Tony Dupaquier says.... Read More »


Share of CarMax sales financed with subprime loans declines

12:01 am U.S. ET | Sept. 24, 2014
The percentage of CarMax vehicles purchased with loans from lenders that specialize in subprime loans dropped almost 5 percentage points in the company’s fiscal quarter that ended Aug. 31.... Read More »


Credit unions take long-loan lead

12:01 am U.S. ET | Sept. 24, 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 »


Credit union's key: 'Do everything right'

12:01 am U.S. ET | Sept. 24, 2014
The leading provider of auto loans in New Hampshire isn't a bank or a captive finance company.... Read More »


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 »


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