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High-flying Hecker lands at halfway house

Denny Hecker, the Minnesota megadealer and leasing giant who defrauded Chrysler Financial out of millions, is out of prison.


What's in a name? A lot

Brand recognition goes a long way -- even with F&I products.

Consumer group wants set pricing for F&I products

A consumer advocacy group wants the Consumer Financial Protection Bureau and other agencies to regulate pricing of F&I products, such as extended service contracts, based in...

J.D. Power counts on name recognition for success of new F&I products

J.D. Power says brand recognition will make its new suite of F&I products stand out, despite a crowded market.

Wells Fargo, Chase clip auto originations

Third-quarter auto loan and lease originations dropped 47 percent at Wells Fargo and 5 percent at Chase as the lenders continued to tighten their credit standards.

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How Gen Z will buy F&I

Generation Zers are nothing like their millennial predecessors, experts say. As customers, they will be more technologically familiar and transparency-conscious. As employees, they will be competitive more than collaborative.

Used-vehicle leasing to see 'big lift,' MUSA says

MUSA Auto Finance has its sights set on a heavy leasing market, especially used-vehicle leasing. It just launched automated decisioning for leases submitted through Dealertrack, RouteOne and its own online portal. Richard Frunzi, the company's president, spoke last month with Staff Reporter Hannah Lutz.

Credit unions led growth in Q2 lending

Credit unions led U.S. auto lending growth in the second quarter as other lender types pulled back, CU Direct says in its latest State of the Credit Union Auto Lending Market report.

'17 spiffs expected to get sweeter as vehicles jam lots

Automakers sweetened incentives last month to sell down a glut of 2017 models on dealership lots and make room for 2018 cars and light trucks. But the higher spiffs won't end there, Edmunds says. Incentives are expected to continue rising through year end.

Finance industry sues to overturn CFPB arbitration rule

A coalition of corporate lobbying groups, led by the U.S. Chamber of Commerce, sued the Consumer Financial Protection Bureau to overturn a rule that makes it easier for aggrieved customers to file lawsuits against financial firms.

Triple damage award stands

A Little Falls, N.J., Toyota dealership that canceled a RAV4 owner's extended service contract without telling her or sending a refund also failed to persuade an appeals court to overturn her triple damage award.

Hyundai Capital America joins with AutoGravity

Consumers looking to buy a Hyundai, Kia or Genesis model now can shop for and finance their vehicles through Hyundai Capital America using AutoGravity's mobile app and web platform. The partnership launched this month, beginning in California.

Unconcerned about credit

A new survey found franchised dealers don't worry much about credit availability for themselves or their customers, in contrast to their independent-dealer rivals.