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LEGAL FILE

Former Suzuki store owner wins right to arbitrate in consumer dispute

11:00 am U.S. ET | May 27, 2015
The owner of a former Suzuki dealership in Kansas City, Mo., is entitled to arbitrate rather than litigate a customer's claims stemming from an alleged failure to deliver title to the used vehicle she bought, the Missouri Court of Appeals has ruled.... Read More »
 
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CLICK HERE to read the articles from the most recent F&I Report, and earlier newsletters.

Will CFPB's use of disparate impact be altered by Supreme Court housing ruling?

12:15 pm U.S. ET | May 27, 2015
Will a Supreme Court ruling in a Texas civil rights case alleging the state's housing practices resulted in a disparate impact on African-Americans set a precedent that could affect the CFPB's crackdown on auto lending? Dealership attorneys say the...... Read More »


Auto loans and balances, boosted by millennials, rise in Q1

12:15 pm U.S. ET | May 27, 2015
Auto loans and balances grew in volume in the first quarter, with the youngest U.S. consumers leading the way. Despite those increases, auto loan delinquencies remained flat, credit bureau TransUnion reported today.... Read More »


JAMIE LaREAU

F&I providers and lenders, here's your chance to fulfill dealers' dreams

11:30 am U.S. ET | May 27, 2015
With gross profit margins on new-vehicle sales narrowing, dealers are worried about the future and where the profits on the sales side will come. The F&I office is an obvious place.... Read More »


Larry Miller Group launches Fast Pass to speed auto transactions

12:00 pm U.S. ET | May 27, 2015
Larry H. Miller Dealerships is pushing to put more of the car buying process online, but the F&I component will stay in the dealership.... Read More »


Subprime loans fall to lowest share since 2012

12:00 pm U.S. ET | May 20, 2015
Subprime and deep subprime loans in the first quarter dropped to their lowest share of the market since 2012, Experian Automotive says.... Read More »


Amid higher auto lending, 90-day delinquencies hold flat

11:30 am U.S. ET | May 20, 2015
Auto loan originations rose 12 percent in the first quarter from a year earlier, while 90-day delinquency rates held flat at 3.3 percent, the Federal Reserve Bank of New York said.... Read More »


At Buick store, service lane provides visuals to better sell F&I products

11:15 am U.S. ET | May 20, 2015
Aaron Logan has sold F&I products for 17 years, yet in the past six weeks his extended service contract penetration rate is nearly twice that of the year-earlier period. He credits the boost to his “religious” use of visual aids.... Read More »


 
BY THE NUMBERS 
 
HANNAH LUTZ

Uber, credit-challenged drivers walk the subprime tightrope

12:00 pm U.S. ET | May 20, 2015
Uber offers its credit-challenged drivers a finance program to help them buy their vehicles. But the program can put some drivers in trouble, according to a Marketplace.org report.... Read More »


Canada shrugs aside worries over long loans

11:00 am U.S. ET | May 13, 2015
U.S. auto industry watchers worry that long loan terms could lead to a financial crisis. But in Canada, industry experts have become accustomed to long loan periods.... Read More »


Student-loan debt doesn't hinder auto lending among college grads, study finds

11:45 am U.S. ET | May 13, 2015
A TransUnion study at least partly contradicts the widely held belief that hefty student loans prevent recent college graduates from getting auto loans.... Read More »


F&I product provider to buy rival in cash deal

11:45 am U.S. ET | May 13, 2015
AmTrust Financial Services agreed to buy Warranty Solutions, owned by Wells Fargo, for $152 million in cash. Finance and insurance product providers say the deal signals further consolidation in the product industry.... Read More »


JAMIE LaREAU

Is the F&I product space overcrowded? Views differ

11:45 am U.S. ET | May 13, 2015
Competition in the F&I product space is heating up. One product provider is moving the bulk of its business to consulting. Others argue there is still a lot of F&I product business to go around, even in light of increased consolidation.... Read More »


AutoNation launches private-label products

12:01 am U.S. ET | May 11, 2015
This month in its Texas stores, AutoNation will start selling self-branded extended service contracts. It's the beginning of AutoNation's plan to sell private-label F&I products online and in stores.... Read More »


GM Financial aims for speedier F&I and happier customers

12:01 am U.S. ET | May 11, 2015
GM North America chief Alan Batey believes GM Financial will improve customer satisfaction by getting them through the F&I office more quickly.... Read More »


Ford Credit sees highest Q1 dealer share in 14 years

11:15 am U.S. ET | May 6, 2015
Ford Credit increased its share of U.S. retail loan and lease volume for Ford and Lincoln dealers to 45 percent in the first quarter, the highest first quarter in 14 years. Losses for bad loans were only 0.... Read More »


JIM HENRY

CFPB plays up auto finance complaints

11:00 am U.S. ET | May 6, 2015
A report released by the Consumer Financial Protection Bureau covering nearly 30,000 military service member complaints over a three-year period shows that although gripes about auto loans were a small part of the mix, they were a large part of the...... Read More »


Subprime lending 'stable' despite worry about risk

11:45 am U.S. ET | May 6, 2015
The year got off to a decent start for subprime auto loans in terms of delinquencies and relatively low losses for bad loans, according to Fitch Ratings.... Read More »


Credit union volume grows

11:45 am U.S. ET | May 6, 2015
Credit unions on the CU Direct auto lending platform are on pace for record volume this year. For the first quarter of 2015, loan volume was 250,000 units, up 21 percent vs. the first quarter last year. Application volume was 960,000, up 27 percent.... Read More »


Aston Martin picks Ally Financial as preferred U.S. lender

11:44 am U.S. ET | May 1, 2015
Aston Martin Lagonda named Ally Financial, the former GM financing arm, as its preferred US auto lender to help the maker of luxury sports cars expand sales.... Read More »


AutoNation says no to captive

11:45 am U.S. ET | April 29, 2015
AutoNation, after exploring whether to launch its own captive finance company, is saying no to the idea. CEO Mike Jackson says the retailer will generate a better return from other investments.... Read More »


Porsche captive adds branded F&I products

12:00 pm U.S. ET | April 29, 2015
Porsche, Bentley and Lamborghini dealers in the U.S. are getting a new menu of F&I products to sell.... Read More »


JIM HENRY

Finally, a lender owns up

11:45 am U.S. ET | April 29, 2015
Auto lenders carefully avoid citing their rivals, especially when they want to criticize. So it was refreshing when Ally's CEO figuratively raised his hand this week.... Read More »


Most lenders cite subprime restraint

12:15 pm U.S. ET | April 29, 2015
GM Financial and Capital One are joining other auto lenders in citing tougher competition in subprime lending and voicing caution over the increase in auto loans to consumers with lower credit scores.... Read More »


Ally deal enables Mitsubishi to cut costs for capital, infrastructure

11:17 am U.S. ET | April 29, 2015
For years, Mitsubishi used an in-house finance arm to underwrite loans to dealers and customers as other small automakers relied on international banking giants to keep the capital flowing.... Read More »