Finance and Insurance

Captive finance companies had a strong 2017 for auto loan originations, even excluding leases.... Read More »

About a quarter of car buyers expect to spend less than an hour in the dealership, including purchase time, according to a survey by EFG Cos. Adapting to consumers' preferred vehicle purchase structure and digital savvy is crucial for dealerships to remain competitive, the survey results show.
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New York dealer Brian Benstock is tapping Google technologies, including virtual helper Assistant, to drive service traffic and improve customers' experiences in service.... Read More »

Ally Financial will be the preferred finance company for vehicle transactions through Drive Motors, the companies said.... Read More »

Ally Financial's Clearlane will pilot Clearmatch, a digital service that will approve customers for vehicle financing, connect them with participating dealerships and let them shop those dealerships' inventory in the platform.... Read More »

Even a modest rise in interest rates, plus tighter lending standards, could impact consumers' vehicle choices, sales and production volumes, dealers' inventory acceptance and lenders' loss risk, experts say.... Read More »

Digital investments and partnerships are the keys to appealing to today's consumers, auto finance panelists say.... Read More »

Experian's new Trended 3D tool aggregates raw trended credit data from Experian, Equifax and TransUnion into attributes that Experian says will help lenders better evaluate risk and identify fraud.... Read More »

Trying to come up with new F&I products to offer? Ask the service department.... Read More »

Even a modest rise in interest rates, plus tighter lending standards, could impact consumers' vehicle choices, sales and production volumes, dealers' inventory acceptance and lenders' loss risk, experts say.... Read More »

RouteOne and Open Dealer Exchange will partner to help dealerships speed up and improve the electronic contracting and overall F&I process.... Read More »

Capital One is previewing an augmented reality tool that enables customers to scan any car, receive personalized finance information and locate nearby dealerships in seconds.... Read More »

Which factors of auto lending should industry watchers observe with a critical eye? Consumers' trade cycles.... Read More »

Sonic Automotive's F&I gross profit per retail unit set company records last year on strong ancillary product sales. The company expects even more gains as it gets "the right training" and processes in place.... Read More »

Westlake Financial Services has launched a program for prime credit customers, the latest signal that the company has evolved from its subprime roots into a full-spectrum lender.... Read More »

The finance and insurance office and the service department are the two most profitable areas of an auto dealership, but they often work in silos, leaving revenue and customer goodwill on the table.... Read More »

Even when F&I and service departments have a collaborative relationship, many dealerships face a decision: Let service advisers market and sell F&I products in the service drive or leave product sales to the F&I department.
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When service advisers don't know how to file claims on F&I products, customers often lose faith in the F&I products and the dealership. With so much at stake, most F&I product providers have clear training procedures to keep service advisers informed on products and claims.... Read More »

For some customers, 440 to 500 hp just isn't enough. So Manhattan Motorcars owner Brian Miller offers them a boost while helping his F&I managers and service advisers, too.... Read More »

Penske Automotive Group promotes service on used vehicles through sales of wraparound maintenance programs.... Read More »

Tony Troussov is a familiar face among dealerships as a finance and insurance trainer. But what retail insiders may not know is that when he immigrated to the U.S. from Russia with just $50 in his pocket, his American dream did not include working in the car business.... Read More »

Service departments are handling F&I claims well, and that makes customers more inclined to be repeat F&I product buyers, a survey found.... Read More »

After the Consumer Financial Protection Bureau cracked down on auto lenders for potentially discriminatory practices related to dealer reserve, dealerships began prioritizing F&I product sales over reserve. For many stores, a side benefit of the shift has been a boost in service business.... Read More »

A team effort between the F&I office and service department can reap significant benefits for the dealership. But tension or ignorance between the two can hurt the store, experts say.... Read More »

Your Dealer Experience app outlines all warranties and protection products a customer purchased and details why a provider would reject a claim.... Read More »