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Pricier insurance for F-150?

12:01 am U.S. ET | Aug. 1, 2015
The Insurance Institute for Highway Safety this week said that it had done a test showing that repair costs for Ford's aluminum-bodied 2015 F-150 pickup jumped 26 percent over those of its steel-bodied predecessor. But that doesn't necessarily mean insurance premiums will go up.... Read More »
 
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U.S. House committee approves limit on CFPB's oversight of auto lending

5:15 pm U.S. ET | July 29, 2015
The U.S. House Financial Services Committee approved a bill Wednesday that would significantly limit the Consumer Financial Protection Bureau's guidance over auto lending.... Read More »


Dealer satisfaction grows when auto lenders embrace e-contracting

12:00 pm U.S. ET | July 29, 2015
Dealers like e-contracting. That's one of the key findings from the 2015 U.S. Dealer Financing Satisfaction Study by J.D. Power released this week. Another takeaway: Dealers are willing to pay lenders a premium for good service.... Read More »


Ally's second-quarter auto lending flat despite GM pullback

11:45 am U.S. ET | July 29, 2015
Ally Financial's second-quarter auto lending originations declined just 1 percent from a year earlier to $10.8 billion, despite a sharp drop in lease originations for GM vehicles.... Read More »


LEGAL FILE

Arbitration decision contrasts fantasy literature and legalese

11:45 am U.S. ET | July 29, 2015
An arbitration provision in one deal document applies to other documents signed as part of the same transaction, including the financing agreement, the Maryland Court of Appeals has ruled in a case that contrasted fantasy literature such as J.R.R.... Read More »


Public retailers boost F&I profits in Q2

12:30 pm U.S. ET | July 29, 2015
F&I profits increased at all six of the largest public new-car retailers in the second quarter. The nation's largest retailer, AutoNation, led the way with F&I revenue per new vehicle retailed of $1,528 on a same-store basis.... Read More »


HANNAH LUTZ

AutoNation, Group 1 are neck and neck in F&I race

12:30 pm U.S. ET | July 29, 2015
AutoNation overtook former frontrunner Group 1 Automotive for the top spot among the public retailers in F&I profit per vehicle in the second quarter. Or did it? It depends on how you measure.... Read More »


Mercedes-Benz Financial leads in dealer satisfaction, J.D. Power finds

8:00 am U.S. ET | July 27, 2015
Mercedes-Benz Financial Services ranks No. 1 among auto lenders in terms of dealerships' satisfaction with lenders' services, according to a study released today by J.D. Power.... Read More »


 
BY THE NUMBERS 
 

Uber, Santander end car-loan partnership

3:20 pm U.S. ET | July 23, 2015
The partnership between Uber Technologies and Banco Santander SA's U.S. auto loan unit has ended, Uber says, removing one of the country's most prominent car lenders from a program trumpeted by the app-based ride service.... Read More »


Chase Auto, Wells Fargo see rise in Q2 loan originations

11:30 am U.S. ET | July 22, 2015
Auto loan originations are rising at two of the nation’s biggest banks in auto lending. Chase Auto Finance and Wells Fargo generated more loans during the second quarter, although the growth in lending was bigger at Chase.... Read More »


HANNAH LUTZ

How Honda Finance’s settlement could be a win for all retailers

11:30 am U.S. ET | July 22, 2015
At face value, the consent order between Honda Finance and the CFPB over lending practices doesn’t seem like a gift to retailers industrywide, but it could be.... Read More »


Sonic rethinks the appeal of captive finance arm

11:30 am U.S. ET | July 22, 2015
Wary of regulators, Sonic Automotive is slowing its plans to establish a captive finance arm. The Consumer Financial Protection Bureau’s investigations and citations of automakers’ finance arms have given Sonic pause.... Read More »


A safer way to offer credit repair

11:30 am U.S. ET | July 22, 2015
New York's crackdown on dealerships and vendor Credit Forget It last month for a credit repair product the state considers illegal likely spurred some auto retailers to back away from credit repair altogether.... Read More »


Subprime auto-lending veteran calls longer loan maturities new normal

11:30 am U.S. ET | July 22, 2015
The man who created one of the biggest U.S. subprime lenders says there's nothing dangerous about borrowers being given longer car loans.... Read More »


NEWS ANALYSIS

What Honda-U.S. settlement changes

12:01 am U.S. ET | July 20, 2015
The federal government's settlement with American Honda Finance Corp. for alleged discriminatory auto lending was a smaller victory for the regulators than it first appeared.... Read More »


AutoNation CEO endorses CFPB, Honda Finance pact

12:01 am U.S. ET | July 20, 2015
AutoNation CEO Mike Jackson has endorsed the settlement between the Consumer Financial Protection Bureau and American Honda Finance for preventing discrimination in auto finance, calling the agreement a “workable template” that other...... Read More »


When CFPB, dealers meet, sparks fly

12:01 am U.S. ET | July 20, 2015
When a CFPB official addressed dealers directly for the first time in public, the exchanges were pointed. Here's how it went at the annual conference of the National Association of Minority Automobile Dealers.... Read More »


CFPB, Justice talk straight to minority dealers

11:30 am U.S. ET | July 15, 2015
After a senior CFPB official and a Justice Department colleague spoke at the recent National Association of Minority Automobile Dealers conference, the Q&A session sometimes got testy. Here's how it went.... Read More »


Regulators urge captives to follow Honda Finance's lead

11:30 am U.S. ET | July 15, 2015
Regulators are urging other captive finance arms to follow the lead of American Honda Finance after it entered into a settlement on Tuesday that will see it limit dealer reserve and pay $24 million to consumers harmed by alleged auto-lending...... Read More »


HANNAH LUTZ

In dealer-reserve debate, CFPB, NADA and American Honda Finance strive to move ball

11:30 am U.S. ET | July 15, 2015
The debate over dealer-arranged auto loans has taken on new dimensions in recent weeks with various stakeholders seeking the upper hand.... Read More »


New York dealerships to pay more than $300,000 in deceptive advertising, fraud settlement

11:30 am U.S. ET | July 15, 2015
The New York Attorney General’s Office reached a settlement Tuesday requiring 23 dealerships in the New York area -- the Atlantic Auto Group’s 22 stores and Hyundai of White Plains -- to pay restitution and penalties to resolve false...... Read More »


FTC, dealerships settle price-misrepresentation charges

11:30 am U.S. ET | July 15, 2015
In the past three months, the Federal Trade Commission has approved final consent orders involving five dealerships and one loan-acceleration provider for misrepresenting vehicle and add-on costs.... Read More »


F&I positions mesh with millennial mindset

12:01 am U.S. ET | July 13, 2015
Finance and insurance departments tend to have less trouble recruiting and retaining millennial staffers than sales departments.... Read More »


What's holding up e-contracting?

12:01 am U.S. ET | July 13, 2015
E-contracting speeds funding to dealerships, provides a more efficient customer experience and improves stores' F&I operations. And its use has grown since the technology began creating buzz in the mid-1990s.... Read More »


Path to positive equity grows, but don't panic

12:01 am U.S. ET | July 13, 2015
The time it takes for consumers with new-car loans to reach a positive equity position on their vehicles has grown by 12 to 14 months over the past 15 years, but that's not necessarily a bad thing, says Steven Szakaly, chief economist for the...... Read More »