Finance and Insurance

Vehicles sat on dealership lots longer in August than at any point since mid-2009. Even so, the 0 percent financing deals that can spur sales ebbed, Edmunds said.... Read More »

While some expressed concern about GM's new disclosure form for non-GM service contracts, F&I providers were unfazed by the requirement and even applauded the automaker.... Read More »

Today's consumers demand a speedy F&I process. To satisfy them, it's important to develop and maintain a smooth system.... Read More »

GM dealers could face major penalties, even termination, if they fail to use a new disclosure form for customers who buy non-GM service contracts.... Read More »

When Lexus of Bellevue went all-in on a one-price model, it also modernized its hiring model for a sales experience worthy of the Internet age.... Read More »

Auto lenders are stepping up to help Gulf Coast customers affected by Hurricane Harvey by offering payment extensions and to redirect billing statements, among other things.
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Ford Credit's decision to use nontraditional approaches in assessing consumers means the industry needs to reconsider what it now considers traditional.... Read More »

Millennials are opening auto loans at a 21 percent higher rate than Gen X consumers did at the same age. But millennials are finding alternatives to other types of finance products, such as credit cards, according to a study by TransUnion.... Read More »

General Motors dealerships that sell non-GM-branded service contracts without following the company's new disclosure process could be in hot water with the automaker, according to a letter sent to dealers.... Read More »

Ford Credit's consumer credit-risk model will include nontraditional data and machine learning to give the lender a better view of a car buyer's likelihood to make payments.... Read More »

Wells Fargo's decision months ago to pull back from making new auto loans cleared the way for Ally Financial to become the auto industry's biggest source of funding.... Read More »

Lenders on FICO's new platform provide dealers with multiple offers from the get-go, potentially eliminating the back and forth with dealers to achieve a customer's perfect deal structure, the company says.... Read More »

Average auto loan debt per borrower and delinquency rates rose in Canada in the second quarter as vehicle prices increased, customers rolled in additional debt and various regions continue to recover from the economic crisis, according to TransUnion.... Read More »

Longo Toyota has signed on to use Roadster's digital storefront. Consumers can complete transactions online and have vehicles delivered to them.... Read More »

New York dealership Nissan of New Rochelle has agreed to pay more than $298,000 in restitution and penalties for deceptively charging hundreds of customers for a phony anti-theft product.... Read More »

Wells Fargo found itself in hot water again last week for possibly neglecting to refund consumers' guaranteed asset protection payments after they paid off their auto loans. But there are two sides to every story, and in this case, the law isn't as clear as it seems.... Read More »

Mercedes-Benz Financial Services, Mini Financial Services and TD Auto Finance topped their segments in lender services satisfaction among auto dealers, a JD Power report said.... Read More »

General Motors' F&I product group will use MaximTrak Technologies as an F&I platform provider for its U.S. dealers. As MaximTrak's capabilities expand, the relationship could extend to other dealership departments.... Read More »

Subprime auto originations declined in the second quarter, but delinquencies still rose as the market adjusts to recent growth in subprime originations, according to reports this week from the New York Federal Reserve and TransUnion.... Read More »

General Motors' F&I product branch tripled its contract volume last year and is planning to double it again in 2017, no easy feat for a relatively new F&I provider in a market saturated with seasoned veterans.
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BMO Harris is boosting its auto lending by expanding downward to near-prime customers, introducing three-tier flat fees and leveraging floorplanning relationships.... Read More »

A casual, targeted approach is an important tool for all finance managers when selling to millennials, experts say. That's especially true given their growing impact on the auto market.... Read More »

A group of senators turned up the heat on Wells Fargo over its latest scandal, in which car-loan borrowers were charged each month without their knowledge for collision insurance.... Read More »

Credit unions in CU Direct's lending network climbed to the top ranking in auto loan originations in the first half of the year, passing some of the largest lenders.... Read More »

Nick Stanutz, auto finance leader at Huntington Bank, who helped establish its auto lending business, will retire at the end of this year after 31 years with the bank.... Read More »