Q&A
3 pet peeves about dealers and F&I
12:01 am U.S. ET | May 15, 2013
Tom Hudson, a veteran attorney whose firm serves dealers and auto lenders, says some illegal F&I practices never seem to go away completely despite the best efforts of attorneys, lenders, F&I trainers, government regulators and dealership management to eliminate them.... Read More » Comments [0] | Recommendations [0]
GM Financial sees prime-risk loans in 2014
12:01 am U.S. ET | May 15, 2013
GM Financial will begin making prime-risk loans for General Motors dealers early next year. "The last remaining hole in our product set is retail financing for prime borrowers, the largest segment of the lending market," CEO Dan Berce says.... Read More »| Related topics: | Dealer Groups and Dealerships | NADA | Dealer Speaks | Best Practices | Innovative Dealers | Visionary Dealers | Finance & Insurance | Fixed Operations | Advertising | Used Cars | Vehicle Sales | Fixed Operations | U.S. Monthly Sales |
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Auto loan delinquencies, repossessions rise
11:45 am U.S. ET | May 15, 2013
Auto loan delinquency rates and repossessions rose in the first quarter fueled largely by an increase in subprime loans, Experian Automotive says. Experian said auto loans delinquent by 60 days rose 12 percent and repossessions increased 17 percent compared with the first quarter of 2012. Loans delinquent 30 days showed a slight increase of 1 percent.... Read More »F&I Week
'Honesty as a Strategy' and other F&I tips
12:01 am U.S. ET | May 15, 2013
F&I experts will cap F&I Week next month with a long list of takeaways. The final session of the three-day online event is called “Pros' Prime Tips: Experts Share Their Advice for F&I Excellence.”... Read More »IRS changes could ensnare dealers who reinsure
12:01 am U.S. ET | May 15, 2013
Dealer principals with overseas reinsurance companies take heed. You could get caught in the fallout of IRS rule changes aimed at cracking down on U.S. taxpayers with foreign accounts intending to evade U.S. taxes.... Read More »Ally clears barrier for IPO with plan to resolve mortgage claims
12:01 am U.S. ET | May 15, 2013
Ally Financial moved closer to repaying its government bailout as the auto lender reached agreement with creditors of its bankrupt mortgage unit.... Read More »Publics: Flat fees likely but no threat
12:01 am U.S. ET | May 8, 2013
Executives for several of the publicly traded new-car dealership groups say they're resigned to flat fees instead of dealer reserve as compensation for negotiating loans, thanks to pressure from the Consumer Financial Protection Bureau.... Read More »GM's F&I products will carry vehicle's brand
12:01 am U.S. ET | May 8, 2013
GM is rolling out branded F&I products, starting this month with a pilot at its 200 or so dealerships in Ohio and going nationwide by year end.... Read More »Chrysler, GM wind down low-APR deals via Ally
12:01 am U.S. ET | May 8, 2013
Chrysler Group will start directing its low-APR loan incentives exclusively to Chrysler Capital, a full-service finance provider launched last week by Chrysler Group and Santander Consumer USA.... Read More »F&I Week
Living in a post-reserve world
12:01 am U.S. ET | May 8, 2013
Las Vegas dealer Tyler Corder has changed the way he does business as he braces for stricter federal limits on how much dealers can earn on customer interest rates.... Read More »AutoNation's Jackson: Oversight of add-ons is head-scratcher
10:51 am U.S. ET | May 8, 2013
The nation's biggest auto retailer is closely watching to see whether the Consumer Financial Protection Bureau will go after finance and insurance products next.... Read More »BMW Financial appoints Isele U.S. sales chief; Bugbee heads to Europe
10:46 am U.S. ET | May 8, 2013
BMW Group Financial Services veteran Fred Isele has been appointed vice president of sales and marketing effective June 1, with responsibility for the BMW, Mini, Rolls-Royce and BMW Motorcycles brands.... Read More »Blogs
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F&I add-ons: Fed agency's target?
12:01 am U.S. ET | May 8, 2013
Finance and insurance products such as extended-service contracts and other add-ons could be the Consumer Financial Protection Bureau's next target in the auto lending sector.... Read More »5 tips to smoothing the subprime F&I process
10:45 am U.S. ET | May 1, 2013
For dealerships, interviewing subprime customers early in the car-buying process is a must, says Aaron Dalton, senior vice president for Prestige Financial Services. Prestige offers mostly subprime loans mostly to new-car dealerships. It got its start in 1994 as the captive finance company for the Larry H. Miller Group of Cos. of Salt Lake City and is still owned by Miller.... Read More »Q&A
How Santander will work with Chrysler Capital
10:45 am U.S. ET | May 1, 2013
Chrysler Capital -- the jointly managed venture between Santander Consumer USA and Chrysler Group -- begins operating today in the United States as the quasi-captive finance arm of Chrysler. Tom Dundon, 41, CEO of Santander Consumer USA, spoke on April 25 with Staff Reporter Larry P. Vellequette.... Read More »F&I WEEK
Reaching millennials where they socialize
12:01 am U.S. ET | May 1, 2013
Young consumers armed with mobile technology are bringing new expectations to car buying. The finance and insurance office is no exception. Two experts will help you understand the attitudes and approaches of the so-called millennial generation during Automotive News F&I Week next month.... Read More »Some lenders rein in approvals as their rivals run 'toward the cliff'
10:45 am U.S. ET | May 1, 2013
In announcing first-quarter results last week, some auto lenders struck a conservative tone, saying they would leave it to competitors to grow quickly by loosening approval standards. In defense of the conservative strategy, lender executives said it's important for dealership F&I managers to know what to expect from lenders.... Read More »Ally profits rise, helped by auto finance
10:41 am U.S. ET | May 1, 2013
Ally Financial Inc. said its first-quarter net income more than doubled from a year ago to $1.1 billion, driven largely by a one-time gain from the sale of Ally's Canadian operations and higher profits in its auto finance business.... Read More »GM Financial shifts emphasis to newer cars
12:01 am U.S. ET | May 1, 2013
GM Financial wants to change its image among franchised dealers shopping for used vehicles at auctions. So this month the captive finance company will host a sale of about 200 2010-13 GM vehicles.... Read More »
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Special Report
 Ford's Hinrichs: 'We've learned lessons from the last few years'Ford's new Americas boss Joe Hinrichs says the hobbled launch of the Lincoln MKZ has been his biggest... Mon., May 13» Watch the Video |
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