Finance and InsuranceAuto loan delinquencies, repossessions rise 12:01 am U.S. ET | May 20, 2013  Auto loan delinquency and repossession rates rose in the first quarter fueled largely by an increase in subprime loans, Experian Automotive said last week.... Read More »
Fiat: Shift of headquarters to U.S. not on agenda 8:04 pm U.S. ET | May 16, 2013  Fiat said the idea of moving the group's legal headquarters to the United States following a planned merger with Chrysler Group is not on the company's agenda.... Read More »
JIM HENRY 'Last resort' means something good 12:01 am U.S. ET | May 15, 2013  In a recent blog, I referred to GM Financial as a “lender of last resort” for parent company General Motors. I meant simply that GM regards GM Financial as a lender GM can count on, no matter what.... Read More »
Ally clears barrier for IPO with plan to resolve mortgage claims 1:59 pm U.S. ET | May 14, 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 »
FINANCE & INSURANCE GM's F&I products will carry vehicle brand names 12:01 am U.S. ET | May 13, 2013  General Motors 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 »
FINANCE & INSURANCE Q&A: TOM DUNDON Chrysler Group seeks an edge with Chrysler Capital 12:01 am U.S. ET | May 13, 2013  Chrysler Capital, the private-label arrangement between Santander Consumer USA and Chrysler Group, began operating in the United States May 1 as the preferred lender for Chrysler Group. Chrysler Capital will offer prime and subprime retail loans and leasing through Chrysler dealers, as well as floorplanning and construction loans to dealers.... Read More »
EDITORIAL Are F&I products next? 12:01 am U.S. ET | May 13, 2013 Dealers have long feared that the Consumer Financial Protection Bureau would find a way to wreak havoc in dealership F&I offices, even though it has no direct jurisdiction over dealerships except buy-here, pay-here stores.... Read More »
JIM HENRY Subprime scrutiny could open a real can of worms 12:01 am U.S. ET | May 8, 2013  Here's a disturbing thought: As much as the Consumer Financial Protection Bureau has upset auto lenders and dealers, it hasn't even gotten around to the vast category of subprime auto lending.... Read More »
F&I add-ons: Fed agency's target? 12:01 am U.S. ET | May 6, 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 »
Opel will offer cheaper loans after taking finance in-houseMay 6, 2013 14:33 CET  Opel expects to boost the proportion of cars sold on financing with the offer of cheaper loans and leasing deals now that it has taken its German banking license back in-house.... Read More »
JIM HENRY GM, Chrysler take opposite tacks on captives 12:01 am U.S. ET | May 1, 2013  Does a car company need to own a captive finance company? While GM and Chrysler Group came off similar experiences of being partners with Ally Financial after their old captives went away during restructuring, they have reached different conclusions.... Read More »
Ally Q1 profits boosted by auto finance business, one-time gains 9:52 am U.S. ET | May 1, 2013  Ally Financial 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 »
F&I Week: 6 Webinars on vital topics 12:01 am U.S. ET | April 29, 2013 Automotive News will put a spotlight on dealership finance & insurance issues during the third annual F&I Week, an online conference in June. Experts, academics and F&I professionals will headline six Webinars on June 11-13.... Read More »
Chrysler Capital's first job: Leasing 12:01 am U.S. ET | April 29, 2013  Chrysler Group expects more consumer auto leases next month when the newly formed Chrysler Capital begins operations as the automaker's preferred lender in the United States.... Read More »
GM's Akerson, Ally's Carpenter have pay, bonuses frozen by U.S. 9:22 am U.S. ET | April 27, 2013  The Treasury Department froze some 2013 pay for top executives at General Motors and Ally Financial, two companies yet to repay money received under special bailout terms during the financial crisis.... Read More »
Capital One pays $3.5 million to settle SEC charges over auto-loan losses 3:33 pm U.S. ET | April 24, 2013  Capital One Financial today agreed to pay a $3.5 million fine to settle charges that it hid millions of dollars in auto-loan losses as the economy was headed toward a recession, the U.S. Securities and Exchange Commission said.... Read More »
JIM HENRY Why car loans, mortgages are apples and oranges 12:01 am U.S. ET | April 24, 2013  Using questionable logic, the Consumer Financial Protection Bureau tends to equate mortgage brokers and auto dealers.... Read More »
JAMIE LaREAU Another case for bundling 12:01 am U.S. ET | April 24, 2013  F&I managers like to bundle products, with good reason. The practice typically spurs sales of other products.... Read More »
AutoNation Q1 earnings soar; acquisitions continue 6:30 am U.S. ET | April 18, 2013  AutoNation said first-quarter net income rose 14 percent to $83 million, up from $73 million a year ago. With profits up in all categories of its business during the first quarter, particularly finance and insurance and parts and service, AutoNation is snapping up more dealerships.... Read More »
JIM HENRY Who's the No. 1 lender? Gimme an A … 12:01 am U.S. ET | April 17, 2013  Who's No. 1 in auto finance? It depends on who's doing the telling.... Read More »
PSA bank rating cut to junk by Moody's on Europe car-sales slumpApril 16, 2013 11:04 CET  PSA's bank was cut to one level below investment grade by Moody's Investors Service today, which said the auto-financing unit can't escape the European car-market contraction plaguing its parent.... Read More »
JIM HENRY Lots of chatter on CFPB and dealer reserve 12:01 am U.S. ET | April 10, 2013  The Consumer Financial Protection Bureau’s effort to cut dealer reserve is sparking a fair amount of online debate.... Read More »
JAMIE LaREAU Strange question? Not really 12:01 am U.S. ET | April 10, 2013  Should an F&I officer or a salesperson explain the risks of a big down payment to a lease customer?... Read More »
FINANCE & INSURANCE Service lane focus lifts Lithia's F&I sales 12:01 am U.S. ET | April 8, 2013  New software and a boost in spiffs have made it easy -- and lucrative -- for Lithia Motors Inc.'s service advisers to sell extended service contracts and lifetime oil change plans.... Read More »
How the Fed fueled an explosion in subprime auto loans 12:01 am U.S. ET | April 7, 2013  Jeffrey Nelson was able to put up a shotgun as down payment on a car. At car dealers across the United States, loans to subprime borrowers like him are surging. Subprime auto lenders are showing up in a lot of personal bankruptcy filings, too. The Federal Reserve has made it all possible.... Read More »
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Special Report
 Dealer O.C. Welch's big-truck turnaroundAfter Mercury's demise, South Carolina Ford-Lincoln dealer O.C. Welch had to find a way to replace lost revenue. He decided to load up on Super Duty pickups – and sell them online. Mon., June 17» Watch the Video |
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