Access F&I
Your one-stop shop for finance & insurance news and education.
 
PreviousMore

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 »


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 »


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 »


Volvo's young captive explores new territory

12:01 am U.S. ET | March 9, 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 »


Security breaches happen, so be prepared

12:01 am U.S. ET | March 9, 2015
Security breaches happen to the best retailers, and auto dealers are not exempt.... Read More »


Loan amounts, payments reach new highs

11:00 am U.S. ET | March 4, 2015
The average amount financed for a new vehicle reached a record $28,381 in the fourth quarter of 2014, Experian Automotive said today. That was an increase of $950, or 3.5 percent, from the year-earlier quarter and a rise of $582, or 2.... Read More »


Millennials coming on stream in auto loans, leases

11:00 am U.S. ET | March 4, 2015
Millennials get a bum rap as being less interested in driving and cars -- and in auto finance -- than previous generations, TransUnion says in a new study.... Read More »


Toyota Financial explores how to improve e-commerce

11:00 am U.S. ET | March 4, 2015
As more shoppers turn to e-commerce as part of buying a car, Toyota Financial Services is turning to its U.S. dealers to find ways to improve its digital offerings.... Read More »


Online retail tools are changing F&I jobs, work force analyst says

11:00 am U.S. ET | March 4, 2015
The neat organization of dealership F&I departments isn't so neat anymore. And industry researchers believe online retail is the reason why.... Read More »


Santander Consumer USA to pay $9.35 million settlement over military repos

12:01 am U.S. ET | March 4, 2015
Santander Consumer USA will pay at least $9.35 million to resolve charges that it improperly repossessed the cars of members of the military, the U.S. Department of Justice said.... Read More »


GM tells Ally that GM Financial will get all of Chevy's subsidized leases

6:30 pm U.S. ET | Feb. 27, 2015
General Motors has notified Ally Financial that it will steer all of its lease subsidies for the Chevrolet brand to captive finance company GM Financial, instead of sharing them among Ally, GM Financial, and to a lesser extent, U.S. Bank.... Read More »


Santander Consumer USA to pay $9.35 million settlement over military repos

3:07 pm U.S. ET | Feb. 25, 2015
Santander Consumer USA will pay at least $9.35 million to resolve charges that it improperly repossessed the cars of members of the military, the U.S. Department of Justice said.... Read More »


Reports of growing auto loan delinquencies are overblown, credit bureaus say

10:39 am U.S. ET | Feb. 25, 2015
Despite media notions that U.S. auto loan delinquencies are accelerating, they are in fact trending flat, credit reporting bureaus Equifax and Experian Automotive said last week.
... Read More »


Consumer Portfolio gains volume; retraining continues after FTC action

10:57 am U.S. ET | Feb. 25, 2015
Subprime auto lender Consumer Portfolio Services reported strong volume growth in the fourth quarter and for all of 2014, despite a run-in with the Federal Trade Commission last year.... Read More »


JPMorgan says U.S. examining racial disparities on car loans

11:03 pm U.S. ET | Feb. 24, 2015
JPMorgan Chase, the largest US bank, said it’s in talks with the Department of Justice about possible racial disparities in markups that auto dealers charged on loans.... Read More »


Auto loan securitization probed by U.S., states

4:50 pm U.S. ET | Feb. 24, 2015
The Justice Department and state authorities are looking into the securitization of auto loans for possible fraud as part of an effort to seek out emerging areas of abuse, Acting Deputy Attorney General Sally Quillian Yates said.... Read More »


Auto originations advance 17%; 90-day delinquencies tick up in Q4, Fed says

11:00 am U.S. ET | Feb. 18, 2015
Auto originations rose a robust 17 percent in the fourth quarter, while accounts considered seriously delinquent ticked up slightly, according to the New York Federal Reserve.... Read More »


New name, growth for Citizens' auto lending channel

11:00 am U.S. ET | Feb. 18, 2015
RBS Citizens Auto Finance is now Citizens One Auto Finance. Parent Citizens Financial Group dropped the acronym RBS, for Royal Bank of Scotland, from the name of its growing auto loan channel effective this month.... Read More »


Q&A

JM&A is in growth mode

11:00 am U.S. ET | Feb. 18, 2015
F&I product vendor JM&A Group sold a record 3.2 million contracts in 2014. That was up from 3 million contracts in 2013 and 2.5 million in 2012. And the company is looking for about 6 percent growth in 2015, President Forrest Heathcott says.... Read More »


Subprime lures Volvo captive

12:01 am U.S. ET | Feb. 18, 2015
Volvo Car Financial Services U.S. plans to begin offering financing to customers with subprime credit scores in the second or third quarter.... Read More »


U.S. prosecutors settle bias case against auto lender-dealers

10:02 am U.S. ET | Feb. 11, 2015
The Justice Department said it reached a settlement in its first-ever discrimination case against auto dealers who also finance the purchase of used cars.... Read More »


For Ford Credit, 2015 'is a story of growth'

11:00 am U.S. ET | Feb. 11, 2015
Ford Motor Credit is looking to grow along with overall U.S. auto sales in 2015. That's a typical, steady-as-she-goes business plan for Ford Credit, which prides itself on sticking to consistent credit approval standards.... Read More »


Public retailers make F&I per-vehicle gains; Group 1 breaks $1,500

11:30 am U.S. ET | Feb. 11, 2015
Four public new-car retailers posted higher F&I revenue per vehicle retailed in the fourth quarter, and three hit all-time highs. Group 1 Automotive's U.S.... Read More »


GM Financial, Santander rev move to prime

11:30 am U.S. ET | Feb. 11, 2015
GM Financial and Santander Consumer USA, two traditional subprime specialists, are accelerating strategic moves into prime-risk loans and leases in 2015. GM Financial also more than tripled its share of U.S.... Read More »


Subprime lures Volvo captive

12:01 am U.S. ET | Feb. 9, 2015
Volvo Car Financial Services U.S. plans to begin offering financing to customers with subprime credit scores in the second or third quarter.... Read More »


Why insiders say subprime auto loans pose no risk

12:01 am U.S. ET | Feb. 7, 2015
Auto retailers and lenders are trying to debunk the notion that a bubble of rapid growth in subprime auto loans will lead to a wave of defaults, tanking the U.S. financial system the way subprime mortgage defaults did before the 2008-09 recession.... Read More »


New Ally CEO outlines plans to increase nonprime loans

12:19 pm U.S. ET | Feb. 5, 2015
Jeff Brown, newly promoted to CEO of Ally Financial, got more specific about Ally's plans to increase its mix of below-prime loans.... Read More »


GM Financial's new system will boost credit apps

11:00 am U.S. ET | Feb. 4, 2015
GM Financial is developing technology that will enable it to accept consumer credit applications on General Motors' websites and the websites of GM dealers.... Read More »


GM ramps up leasing business with captive financial unit

3:16 pm U.S. ET | Feb. 4, 2015
GM Financial more than tripled its share of parent General Motors' US lease originations in the fourth quarter.... Read More »


CU Direct adds concierge-style auto shopping service

11:00 am U.S. ET | Feb. 4, 2015
CU Direct, which links credit unions and dealerships’ F&I offices through its CUDL lending platform, is working with select dealerships to create a concierge-style shopping experience.... Read More »


Q&A

Chase Auto Finance CEO sees 'disciplined growth' in 2015

11:00 am U.S. ET | Feb. 4, 2015
Big auto lender Chase Auto Finance, which slowed lending last year, plans to stay prudent in 2015, CEO Thasunda Brown Duckett says. The lender's auto loan and lease originations increased just 5 percent in 2014, to $27.5 billion.... Read More »


U.S. prosecutors, pursuing more '08 crisis cases, eye auto loans

12:12 pm U.S. ET | Feb. 4, 2015
The U.S. Department of Justice says it is still pursuing cases tied to the height of the financial crisis in 2008 and using lessons learned from those probes to examine new areas like subprime car loans.... Read More »


Ally Financial names Jeffrey Brown CEO, Carpenter retires

7:11 pm U.S. ET | Feb. 2, 2015
Jeffrey Brown, president and CEO of Ally Dealer Financial Services, will become CEO of Ally Financial, effective Monday, succeeding Michael Carpenter, who is retiring.... Read More »


GM's lease incentive move to captive unit surprised, angered Ally's chief

11:40 am U.S. ET | Jan. 29, 2015
General Motors' recent move to steer 100 percent of its Buick, Cadillac and GMC lease incentives in the US to captive finance company GM Financial took Ally Financial by surprise, Ally CEO Michael Carpenter said during a conference call today.... Read More »


Leasing keeps growing; lenders debate possible peak

11:00 am U.S. ET | Jan. 28, 2015
Leasing, aided by low interest rates and factory incentives, is expected to keep increasing in 2015, but experts are divided on how high lease penetration will go.... Read More »


Lending by credit unions, others grew in 2014

11:00 am U.S. ET | Jan. 28, 2015
Credit unions and other lenders are beginning to release data that confirm what the industry knows: Last year, when U.S. new light-vehicle sales rose 6 percent, was a very good year for vehicle lending.... Read More »


Don't get mad, get a lawyer, panelists say

11:00 am U.S. ET | Jan. 28, 2015
Dealers who get warning letters from lenders accusing them of loan discrimination should resist the temptation to stick the letters in a drawer or, worse, fire off angry replies on their own, said panelists last week at a legal compliance workshop...... Read More »


Q&A

Ally Premier Protection enables 'one product, one system and one brand'

11:00 am U.S. ET | Jan. 28, 2015
Ally Financial is phasing in Ally Premier Protection brand for service contracts and other F&I products, plus an updated technology platform to help market and administer them.... Read More »


PreviousMore