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Why service contracts remain a best seller

10:30 am U.S. ET | Dec. 30, 2015
In an automotive world with better-quality vehicles and expanded F&I product offerings, the extended service contract remains a consistent best-seller. Here's why.... Read More »


5 trends to watch in 2016

10:30 am U.S. ET | Dec. 30, 2015
Checking our crystal ball, here are five F&I trends to watch in 2016.... Read More »


Insights, tips from our F&I webinars

10:19 am U.S. ET | Dec. 30, 2015
This year, Automotive News hosted F&I webinars on security, leasing, crime and products. Here is a sampling of the tips we gleaned and insights we learned.... Read More »


Q&A: KYLE BIRCH, GM FINANCIAL

Next step in GM Financial's agenda: Loan growth

12:01 am U.S. ET | Dec. 30, 2015
GM Financial now provides services for customers across the full credit spectrum, not just nonprime.... Read More »


States now have power to allow e-signatures on odometer disclosures

12:01 am U.S. ET | Dec. 23, 2015
Dealerships could be inching closer to all electronic documents, thanks to the FAST Act, which President Barack Obama signed into law Dec. 4.... Read More »


CarMax captive sees fewer subprime loan requests, more charge-offs

12:01 am U.S. ET | Dec. 23, 2015
In its fiscal third quarter ended Nov. 30, CarMax's captive finance arm received fewer applications for loans from consumers with low credit scores than a year earlier, the company said.... Read More »


A look back at 5 F&I trends to watch in 2015

12:01 am U.S. ET | Dec. 23, 2015
Last December, we pointed out five F&I trends to watch in 2015. Three of them were tied to Consumer Financial Protection Bureau rules and regulation. Here's a look at how each fared this year. (Hint: Our crystal ball was pretty good)... Read More »


Hyundai, Kia buying captive finance stake from GE Capital

6:53 am U.S. ET | Dec. 23, 2015
Hyundai Motor and Kia Motors are bulking up their stakes in the automakers' captive finance company by buying shares held by GE Capital.... Read More »


F&I offerings and presentations evolve

12:01 am U.S. ET | Dec. 23, 2015
As F&I products have evolved based on consumers' needs, so have the ways dealerships present and sell those products. In many cases, that has led to both higher customer satisfaction and more sales.... Read More »


Retailers put the brakes on starting captives

12:01 am U.S. ET | Dec. 23, 2015
Retailers interested in starting their own captive finance companies are finding the undertaking challenging and expensive. Some prominent dealership groups have turned away from the prospect.... Read More »


Loans, leases to rise in 2016 as delinquencies hold steady, TransUnion says

11:45 am U.S. ET | Dec. 16, 2015
Next year will be a strong year in auto finance, with auto loan and lease balances rising as delinquencies remain low, TransUnion forecasts.... Read More »


F&I contest competitors home in on tech

12:30 pm U.S. ET | Dec. 16, 2015
Technology, customer retention and insurance plans were on students’ minds during the first F&I Innovator of the Year competition co-sponsored by Northwood University and EFG Cos.... Read More »


Extended loan terms pose risk to lenders, finance experts say

12:30 pm U.S. ET | Dec. 16, 2015
Subprime lending is not putting the auto finance industry at risk, but extended loan terms could be, industry experts say.... Read More »


December is hot for luxury deals

12:15 pm U.S. ET | Dec. 16, 2015
More luxury cars are purchased in December than in any other month, largely because of holiday deals. And although luxury buyers tend to have high credit scores, the majority lease as a way of keeping payments down, Experian Automotive says.... Read More »


At Exeter Finance, Floyd back in as Anderson leaves CEO post

1:00 pm U.S. ET | Dec. 15, 2015
Mark Floyd, former chief executive of subprime lender Exeter Finance, will take over on an interim basis from Thomas Anderson.... Read More »


Captives add share, helped by leases, factory incentives

12:01 am U.S. ET | Dec. 14, 2015
Captive finance companies' share of the new-vehicle loan market continues to rise, hitting 52 percent in the third quarter, thanks to subvented loans and cash incentives from their automaker parents.... Read More »


F&I PRODUCT PROGNOSIS

Which offerings will remain popular?

12:01 am U.S. ET | Dec. 14, 2015
Finance and insurance products that offer the most value to the consumer are also the ones that are most valuable - and profitable - for a dealership F&I department, experts say.... Read More »


FADING AWAY

Legacy F&I products dropping off dealer menus

12:01 am U.S. ET | Dec. 14, 2015
Some common F&I products of the 1970s and '80s are fading from dealership menus as vehicle production, materials and technology have advanced and customer demand has shifted. Here's a look at four.... Read More »


F&I offerings and presentations evolve

12:01 am U.S. ET | Dec. 14, 2015
As F&I products have evolved based on consumers' needs, so have the ways dealerships present and sell those products. In many cases, that has led to both higher customer satisfaction and more sales.... Read More »


Students' F&I product will hit the market

12:01 am U.S. ET | Dec. 14, 2015
What do millennials want in an F&I product? Leave it to college students to decide. The first F&I Innovator of the Year competition from Northwood University and EFG Cos. did just that.... Read More »


Retailers put the brakes on starting captives

12:01 am U.S. ET | Dec. 14, 2015
Retailers interested in starting their own captive finance companies are finding the undertaking challenging and expensive. Some prominent dealership groups have turned away from the prospect.... Read More »


M-B Financial uses art to sell the abstract

12:01 am U.S. ET | Dec. 14, 2015
Mercedes-Benz Financial has partnered with several local artists for the past 15 years to display hundreds of works of art throughout their offices in the U.S. and Canada.... Read More »


PRODUCT BLITZ

Sales of service contracts and F&I add-ons critical

12:01 am U.S. ET | Dec. 14, 2015
Auto dealerships are placing higher emphasis on F&I product sales as regulators work to limit dealerships' retail margin -- or reserve -- on customer financing.... Read More »


Q&A: KYLE BIRCH, GM FINANCIAL

Next step in GM Financial's agenda: Loan growth

12:01 am U.S. ET | Dec. 14, 2015
GM Financial now provides services for customers across the full credit spectrum, not just nonprime.... Read More »


Q&A

New VW Credit CEO will up face time with dealers

12:15 pm U.S. ET | Dec. 9, 2015
New Volkswagen Credit CEO Horst Meima has a big to-do list. He chatted this week with Automotive News Staff Reporter Hannah Lutz.... Read More »


Captives see share of new loans rise on subvented financing

12:15 pm U.S. ET | Dec. 9, 2015
Captive finance companies' new-vehicle loan penetration continues to rise, thanks to subvented loans and cash incentives from automakers. At 51.62 percent in the third quarter, captives hold the largest share of new-vehicle loans.... Read More »


Nov.'s average new-vehicle loan payment tops $500 a month

12:00 pm U.S. ET | Dec. 9, 2015
The average monthly payment on a new-vehicle loan reached a record in November, as transaction prices rose, Edmunds.com says. The average monthly payment in November was $504, 2.4 percent, or $12, higher than a year earlier, Edmunds data show.... Read More »


HANNAH LUTZ

New credit scoring deepens loan pool

12:01 am U.S. ET | Dec. 7, 2015
New ways of using alternative consumer data and scoring credit risk are expanding the number of people who qualify for auto loans.... Read More »


Clarity Services to pay $8 million in consent order with CFPB

5:42 pm U.S. ET | Dec. 3, 2015
Clarity Services, a subprime credit reporting agency based in Florida, agreed to pay $8 million in a consent order with the Consumer Financial Protection Bureau, which said the company illegally obtained consumer reports.... Read More »


A lesson -- Ads must be clear, show feasible deals

1:15 pm U.S. ET | Dec. 2, 2015
Dealership advertisements must show deals that are feasible for the average consumer and easy for those consumers to understand.... Read More »


VW Credit has new CEO

12:45 pm U.S. ET | Dec. 2, 2015
Volkswagen Group of America named Horst Meima president and CEO of Volkswagen Credit, effective Jan. 1. He replaces Christian Dahlheim, who will become a board member for sales and marketing of Volkswagen Financial Services in Braunschweig, Germany.... Read More »


New Ford Credit COO felt 'sense of belonging' from the get-go

12:45 pm U.S. ET | Dec. 2, 2015
Ford Credit's new COO Joy Falotico says she knew Ford would be a good fit for her from the moment she interviewed with the automaker in the late '80s.... Read More »


Industry highs set, with a quarter yet to go

12:45 pm U.S. ET | Dec. 2, 2015
With year-end results yet to come, the industry has already set records in lease penetration, new-vehicle financing levels and in the numbers of consumers taking out longer loans, Experian data show.... Read More »


Car payment holidays hurt consumers, lender warns

11:00 am U.S. ET | Nov. 25, 2015
Consumer auto payment holidays aren't all they're cracked up to be. Though it can be a helpful bit of cash in the short-term, it will hurt borrowers financially in the long run, subprime lender Prestige Financial warns.... Read More »


Easy does it when selling F&I products

11:00 am U.S. ET | Nov. 25, 2015
Dealers, when selling F&I products, don’t count pressuring the customer as an effective sales technique. Too much pressure to buy F&I products leads to slightly lower close rates.... Read More »


U.S. House passes bill revoking CFPB auto lending guidance; Senate, Obama pose hurdles

12:01 am U.S. ET | Nov. 25, 2015
A bill that would limit the U.S. Consumer Financial Protection Bureau’s 2013 auto lending guidance passed the House of Representatives last week by a 332-96 vote. But the bill faces an uphill battle in the Senate and from President Obama.... Read More »


U.S. House passes bill revoking CFPB auto lending guidance

5:55 pm U.S. ET | Nov. 18, 2015
A bill that would limit the CFPB's 2013 auto lending guidance passed the House of Representatives late Wednesday by a 332-96 vote. The bill still faces several hurdles before it could become law.... Read More »


Auto loans outstanding surpass $1 trillion, delinquencies hold flat; 'no score' segment improves

11:45 am U.S. ET | Nov. 18, 2015
Auto loan balances reached $1.008 trillion in the third quarter, an increase of $101 billion since the end of the same quarter last year, according to TransUnion.... Read More »


Gen Y's surprising yen for add-ons

11:45 am U.S. ET | Nov. 18, 2015
Younger consumers are just as likely as their older counterparts to buy finance and insurance products, a J.D. Power and Associates study finds.... Read More »


Obama opposes U.S. House bill on auto financing

10:14 am U.S. ET | Nov. 17, 2015
The Obama administration opposes a U.S. House bill on auto financing, saying it would revoke "important guidance designed to prevent discriminatory pricing of auto loans," the White House said this week.... Read More »


Millennials' appetite for auto loans rising

12:45 pm U.S. ET | Nov. 11, 2015
Despite concerns over millennials' lack of interest in vehicle ownership, they are buying and financing vehicles, says CU Direct, which links credit unions and auto dealerships through its CUDL lending platform.... Read More »


Q&A

Compliance starts with the dealer

11:45 am U.S. ET | Nov. 11, 2015
Karen Klees, certified consumer credit compliance specialist at EFG, advises dealers to install a written F&I compliance process and to train employees regularly on the practices they expect.... Read More »


Using ‘thought tracks’ to build trust, F&I sales

11:45 am U.S. ET | Nov. 11, 2015
Scripted F&I interviews or casual customer conversations? That’s the choice F&I managers are beginning to face as they look to build trust with customers.... Read More »


Props push up F&I product profits at store

12:01 am U.S. ET | Nov. 9, 2015
To sell F&I products, Steve Ward, business manager at Marion Toyota, uses parts and repair orders as props to show customers why it's important to invest in a vehicle service contract.... Read More »


Compliance keys: Written policies, trained employees

12:01 am U.S. ET | Nov. 9, 2015
Karen Klees, certified consumer credit compliance specialist at EFG Cos., says the surest way for dealerships to stay compliant with consumer finance laws is to install an F&I process and train employees to stick to it.... Read More »


Auto loan balances reach all-time high

1:45 pm U.S. ET | Nov. 4, 2015
Strong U.S. light-vehicle sales pushed outstanding auto loan balances to an all-time high in the third quarter. Still, consumers are paying their auto loans, Experian Automotive said today.... Read More »


Ally sees progress, gains despite GM setback

1:00 pm U.S. ET | Nov. 4, 2015
Despite an overall drop in auto originations resulting from a loss of some GM business, Ally's third-quarter financial results were positive, Ally executives say.... Read More »


Publics see F&I gains in Q3, buoyed by add-on sales

1:45 pm U.S. ET | Nov. 4, 2015
An increase in F&I product penetration helped all six public new-car dealership groups to reap third-quarter gains in F&I revenue per vehicle retailed. AutoNation, the largest of the companies, set a record.... Read More »


Ally Financial profit slumps on lower auto loans

8:55 am U.S. ET | Oct. 29, 2015
Ally Financial's third-quarter profit fell 37 percent as it earned less money from its core auto lending and dealer financing operations.... Read More »


AutoNation, Group 1, Sonic post F&I gains

2:15 pm U.S. ET | Oct. 28, 2015
Large public new-car dealership groups AutoNation, Group 1 Automotive and Sonic Automotive reported improved F&I revenue per vehicle retailed in the third quarter. AutoNation reported the most significant surge.... Read More »


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