Finance and Insurance Newsletter

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 »

GM Financial to open servicing center in Texas

3:24 pm U.S. ET | Dec. 17, 2015

General Motors' captive finance company will open a financial servicing center in San Antonio early next year, pending state approval. It plans hire 490 employees there.... Read More »

HANNAH LUTZ

BLOG: Study finds women are savvy car-lease negotiators

12:00 pm U.S. ET | Dec. 16, 2015

Women are savvy car shoppers and capable buyers. A Swapalease.com analysis of about 2,500 consumers showed that women often have lower monthly lease payments than men on similar vehicles.... Read More »

Fed rate increases unlikely to slow down the car business

9:29 am U.S. ET | Dec. 16, 2015

As the Federal Reserve increased interest rates today by a quarter of a point, the buzz in places such as Kokomo, Indiana, is one reason policymakers think the U.S. recovery has room to run.... Read More »

Loans, leases to rise in 2016 as delinquencies hold steady, TransUnion says

11:45 am U.S. ET | Dec. 16, 2015

Next year will be a strong year in auto finance, with auto loan and lease balances rising as delinquencies remain low, TransUnion forecasts.... Read More »

F&I contest competitors home in on tech

12:30 pm U.S. ET | Dec. 16, 2015

Technology, customer retention and insurance plans were on students’ minds during the first F&I Innovator of the Year competition co-sponsored by Northwood University and EFG Cos.... Read More »

Extended loan terms pose risk to lenders, finance experts say

12:30 pm U.S. ET | Dec. 16, 2015

Subprime lending is not putting the auto finance industry at risk, but extended loan terms could be, industry experts say. Extended terms appear to be positive for the industry now because they enable consumers to buy a more expensive car and still keep monthly payments low, but they could become a drag down the road, a new report says.... Read More »

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