Finance and Insurance Newsletter

JM&A, after record year, eyes more growth

12:30 pm U.S. ET | Jan. 13, 2016

JM&A Group sold 3.4 million contracts in 2015, marking the highest number in its 37-year history and surpassing its 2014 record of 3.2 million. But the Deerfield, Fla., company isn't resting on its laurels.... Read More »

Ford Credit tests group leasing

12:01 am U.S. ET | Jan. 11, 2016

Ford Motor Credit Co. will launch a leasing pilot program next month in Austin, Texas, that allows families and small groups of friends and neighbors to share a Ford vehicle.... Read More »

Biweekly pay plans need transparency

12:01 am U.S. ET | Jan. 11, 2016

Biweekly payment plans are legal, advantageous for many consumers and profitable for dealerships, advocates say. But in promoting those plans, they add, F&I managers must disclose all fees and accurately describe all benefits.... Read More »

McLaren to offer leases through Ally

11:00 am U.S. ET | Jan. 6, 2016

McLaren Automotive North America will offer retail leases through Ally Financial in an agreement disclosed this week.... Read More »

FTC solicits public comments on dealership financing survey proposal

11:45 am U.S. ET | Jan. 6, 2016

Auto dealers, lenders and the general public may be able to weigh in as soon as this week on a plan by the Federal Trade Commission to survey car buyers who used financing offered or arranged by a dealership.... Read More »

HANNAH LUTZ

BLOG: What I've learned on the F&I beat

11:00 am U.S. ET | Jan. 6, 2016

I'm a relative newbie to the F&I world. Over about eight months of covering it, I've picked up several big-picture insights into this industry. These are the key points I'll keep in mind as I continuing covering the people, institutions and issues in F&I.... Read More »

Captive's Silicon Valley culture keeps employees happy

11:00 am U.S. ET | Jan. 6, 2016

Mercedes-Benz Financial Services serves up gourmet cafeteria offerings, massages, manicures, nap pods and a gym to attract and retain talent.... Read More »

Consumers say they want F&I info early, but do they use it?

11:30 am U.S. ET | Jan. 6, 2016

Consumers say they are interested in learning about F&I products before visiting the dealership, but most buyers aren't actually taking advantage of that early education, an informal survey found.... Read More »

M-B Financial uses art to sell the abstract

12:01 am U.S. ET | Jan. 6, 2016

Mercedes-Benz Financial has partnered with several local artists for the past 15 years to display hundreds of works of art throughout their offices in the U.S. and Canada. The art is intended to spark creativity in employees so that they look beyond the obvious to solve problems and sell loans and insurance.... Read More »

FTC seeks comment on state auto-retailing laws

2:55 pm U.S. ET | Jan. 5, 2016

The Federal Trade Commission is seeking public comment on state regulations covering auto retailing, including the issue of automakers' direct sales to consumers.... Read More »

Why service contracts remain a best seller

10:30 am U.S. ET | Dec. 30, 2015

In an automotive world with better-quality vehicles and expanded F&I product offerings, the extended service contract remains a consistent best-seller. Here's why.... Read More »

5 trends to watch in 2016

10:30 am U.S. ET | Dec. 30, 2015

Checking our crystal ball, here are five F&I trends to watch in 2016.... Read More »

CFPB, F&I products led top stories in 2015

10:30 am U.S. ET | Dec. 30, 2015

News on the Consumer Financial Protection Bureau's actions relative to auto lenders and dealers consistently pulled in the most Automotive News' F&I readers in 2015. A review of the best-read headlines of each month shows that four of the 12 center on the CFPB.... Read More »

HANNAH LUTZ

BLOG: 2016 will bring more compliance chatter

10:30 am U.S. ET | Dec. 30, 2015

While compliance is a tired word, it will likely continue to be a pillar of auto finance in 2016 and beyond.... Read More »

Insights, tips from our F&I webinars

10:19 am U.S. ET | Dec. 30, 2015

This year, Automotive News hosted F&I webinars on security, leasing, crime and products. Here is a sampling of the tips we gleaned and insights we learned.... Read More »

Q&A: KYLE BIRCH, GM FINANCIAL

Next step in GM Financial's agenda: Loan growth

12:01 am U.S. ET | Dec. 30, 2015

GM Financial now provides services for customers across the full credit spectrum, not just nonprime.... Read More »

States now have power to allow e-signatures on odometer disclosures

12:01 am U.S. ET | Dec. 23, 2015

Dealerships could be inching closer to all electronic documents, thanks to the FAST Act, which President Barack Obama signed into law Dec. 4. Under the Act, the federal government will no longer require wet signatures on odometer disclosures, which could speed up the F&I process and reduce the errors and fraud that can come with paper documents.... Read More »

HANNAH LUTZ

BLOG: Is F&I disruptor's plan worth the risk?

12:01 am U.S. ET | Dec. 23, 2015

Dealer-owned captive financing sounds like a promising idea for retailers, but is it worth the risk?... Read More »

Retailers put the brakes on starting captives

12:01 am U.S. ET | Dec. 23, 2015

Retailers interested in starting their own captive finance companies are finding the undertaking challenging and expensive. Some prominent dealership groups have turned away from the prospect.... Read More »

Hyundai, Kia buying captive finance stake from GE Capital

6:53 am U.S. ET | Dec. 23, 2015

Hyundai Motor and Kia Motors are bulking up their stakes in the automakers' captive finance company by buying shares held by GE Capital.... Read More »

A look back at 5 F&I trends to watch in 2015

12:01 am U.S. ET | Dec. 23, 2015

Last December, we pointed out five F&I trends to watch in 2015. Three of them were tied to Consumer Financial Protection Bureau rules and regulation. Here's a look at how each fared this year. (Hint: Our crystal ball was pretty good)... Read More »

CarMax captive sees fewer subprime loan requests, more charge-offs

12:01 am U.S. ET | Dec. 23, 2015

In its fiscal third quarter ended Nov. 30, CarMax's captive finance arm received fewer applications for loans from consumers with low credit scores than a year earlier, the company said. CarMax Auto Finance's loan charge-offs also rose, prompting a “modest” increase in loan loss provision.... Read More »

F&I offerings and presentations evolve

12:01 am U.S. ET | Dec. 23, 2015

As F&I products have evolved based on consumers' needs, so have the ways dealerships present and sell those products. In many cases, that has led to both higher customer satisfaction and more sales.... Read More »

EDITORIAL

Fed's interest rate hike not a threat to autos just yet

12:01 am U.S. ET | Dec. 21, 2015

The Fed's interest rate hike will increase consumer and corporate borrowing costs, but it's unlikely to derail strong auto demand.... Read More »

End of the 'free lunch on interest rates'

12:01 am U.S. ET | Dec. 20, 2015

Higher U.S. interest rates most likely won't dampen new car sales, but they will mean a more competitive environment and possibly slimmer profits, for automakers, dealers and lenders.... Read More »

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