Former Chrysler CEO Nardelli named chairman of power storage company

Former Chrysler chief Bob Nardelli was named chairman of Ioxus, a company that develops transportation power storage technologies and alternative energy.

UPDATED: 7/24/17 5:03 pm ET - adds details

Ford juices up 2018 Mustang with optional 'drag strip' mode

Ford says the freshened 2018 Mustang will be its fastest pony car ever, going from 0 to 60 in under 4 seconds with its new optional "drag strip" mode.

Leasing slips in first half

Leasing fell in the first half of this year from the year-earlier period, the first such drop since the first half of 2012, Edmunds said.

Credit bureau changes could put some loans at risk

The three major credit bureaus' decision this month to eliminate civil judgment and tax lien data from their reports means those credit bureaus will have fewer pieces of information on which to score borrowers. And that's giving some in the industry pause.

A document checklist cuts time spent hunting down paperwork

Use a checklist to ensure every task is done before sending a deal to accounting, suggests Steve Roennau of EFG Cos. It can save office managers 10 minutes per deal and F&I managers hours of tracking down paperwork. "You have the potential to save 30 percent of your team's time to focus on increasing dealership profitability instead of on compliance paperwork."

Use the fine print as a selling tool

F&I managers should use the fine print on F&I product contracts and promotional brochures as a value-add, says Dave Robertson of the Association of Finance & Insurance Professionals. "For as many covenants that state what an agreement won't do, there are others that identify what the contract permits," he said. And that information can be used as a tool to close or overcome objections.

TD Auto dips deeper into credit pool

The lender is expanding its portfolio with more used-vehicle loans and more prime and near-prime customers, even as some rivals flee upmarket.

Allstate name carries weight in F&I, dealer finds

Retailer Art Schaller Jr. was reluctant to drop his F&I provider and switch to Allstate-branded F&I products. But branding has paid off. When he heard about Allstate's dealership insurance agency program, he opted for both.

Beware of hard-to-detect synthetic ID fraud

Compliance has been on the minds of dealers and lenders. But at least one fraud type has been largely overlooked, and it's costing hundreds of millions of dollars in losses annually across the credit industry, Experian says.

New-vehicle loan terms hit all-time high

The average new-vehicle loan term rose slightly to a record 69.3 months in June as buyers continued to keep monthly payments low while financing ever more expensive vehicles.

Auto finance growth in Canada exceeds expectations

Auto lending continued to be one of the fastest-growing segments of the Canadian credit market in the first quarter of 2017 as the country's auto industry saw multiyear growth, according to TransUnion's latest Canada Industry Insights Report.

Studying deals pinpoints F&I selling weaknesses

Track the number of F&I products sold and finance reserve on every deal, suggests Hollis Goode of EFG Cos. Doing so can pinpoint training gaps and areas of focus for improving F&I operations from a profitability standpoint, he said. For example, if records show that F&I managers rely on reserve and sell few products, they may need to expand their product knowledge and adjust their presentations to spotlight product value.

When F&I stumbles

Most F&I errors are caught before they leave the store. But when they aren't, dealers walk a line between customer dissatisfaction and financial loss.

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