Trump to name nominee to steer U.S. lending watchdog next week
President Donald Trump has been reviewing a handful of potential nominees to lead the Bureau of Consumer Financial Protection and his final pick will be named next week, a top U.S. official said.
M-B mobility learnings migrate to subscription program
Mercedes-Benz Financial Services will apply the fleet management and concierge skills gleaned from its other mobility ventures to Mercedes-Benz Collection.
Is Chase angling to operate as FCA captive?
After Fiat Chrysler Automobiles made clear that it wants a captive, could Chase Auto be raising its hand?
Credit availability, interest rates on dealers' minds
Dealer concern about rising interest rates has sharply increased, Cox Automotive survey finds.
Sell F&I products that correspond with your business
To increase F&I profit margins, dealerships should be sure F&I products match their inventory and customer demographic, suggests John Stephens of EFG Cos. Then, focus on penetration rates. "By having a customer-first mindset, F&I departments tend to have more consistent product sales at low to medium markups," he said. "They also tend to have lower chargebacks due to refinance or product cancellations."
The tech effect
A tech-driven auto retailing transformation is inevitable, but what that transformation will look like, and how the industry will get there, is less predictable.
How to leverage the best of tech innovation, auto retail know-how
For dealership fintech companies to be successful in a space where many entrepreneurs have failed, a Silicon Valley mindset combined with traditional auto retail expertise could be a winning combination.
Fintech startups can find success by mixing skill sets
For a fintech startup breaking into automotive retail, should the top leadership have dealership experience, finance expertise or software skills?
Market Scan powers fintech revolution
Market Scan's database powers many of the companies that are enabling online transactions, whether on dealership sites or independent apps.
Lenders can gauge how terms compare
Here is how Market Scan helps lenders know how best to structure their deals to win the business without overpaying.
Online retail requires more than tech savvy
As a tech expert but car-buying rookie, Drive Motors' CEO knew he needed automotive expertise to understand how to make the product easy and useful for dealerships.
Ex-dealer launches buying, financing app
After decades in the brick-and-mortar world as a dealer, Rod Buscher launched Blinker, a mobile app for customers looking to buy, sell or refinance used cars without visiting a dealership.
Tools will vary as F&I digitizes
Digitalization of the F&I process is inevitable, but which tools will be uniform across the automotive retail terrain is less certain.
AutoGravity's new priority: Deepen ties with clients
AutoGravity's strategy was initially centered on client expansion, but going forward, the company will devote more attention to enhancing existing relationships.
Ally partners up to maintain tech edge
More than a decade ago, on the precipice of an epochal shift in the automotive finance sector, Ally Financial was born. The lender sees technology as part of its DNA.
Beyond credit scores: FICO fights fraud
FICO is synonymous with credit scores, but the company does a lot more in the automotive space.
F&I revenue outpaces vehicle sales in '17
Finance and insurance revenue per vehicle and overall F&I revenue grew at the 150 largest dealership groups in the U.S., amid an industrywide light-vehicle sales slowdown, according to an Automotive News survey.
Extending team spirit to the service dept.
If dealers want the service department to support finance and insurance efforts, they should treat service advisers as partners to both the F&I and sales teams.
Online quotes generally get payment right
When car shoppers are quoted a monthly payment online nowadays, most of the time, that is what they're actually going to pay, an online survey found.
Accessories break the ice, boost revenue
Selling accessories can be a conversation starter that reduces customers' resistance to F&I products, some F&I managers say.
Gap between new, used payments widens
The gap between new- and used-vehicle loan payments continued to widen in the first quarter, even as lease returns lift overall used-vehicle loan amounts, according to Experian's latest report.