Finance and Insurance Newsletter

GM and Ally compete to grow F&I

12:34 pm U.S. ET | Jan. 24, 2015
GM is on a hiring binge to build a direct sales force for its branded F&I products as the company seeks a foothold in the competitive space. GM rolled out branded F&I products nationally last year while taking over the business from captive-finance arm GM Financial.... Read More »

 

JAMES B. TREECE

Where are you spending your dollars on digital?

5:00 pm U.S. ET | Jan. 23, 2015
The impact of digital tools on dealerships' marketing has grown exponentially. Those tools have been a hot topic at the last few NADA conventions. But it may be time for the focus to shift.... Read More »

 

JAMES B. TREECE

Building a new fortress to protect data

2:00 pm U.S. ET | Jan. 23, 2015
When it comes to protecting sensitive data against hackers, the days of building thick digital walls and moat are over.... Read More »

 

Big banks slow auto lending

11:00 am U.S. ET | Jan. 21, 2015
Wells Fargo and Chase, two of the biggest banks in auto lending, posted increases in consumer auto originations in 2014 but at a slower rate of growth than in 2013.... Read More »

 

Auto finance, sales look strong for 2015

11:00 am U.S. ET | Jan. 21, 2015
The good outweighs the bad in the outlook for auto finance. For dealers, the high points are that U.S. light-vehicle sales are expected to keep on growing in 2015, for the sixth consecutive year, reaching as high as 17 million units, analysts say. In addition, lenders are competing harder and in greater numbers for loans originated at dealerships, according to speakers at an auto finance conference Tuesday.... Read More »

 

JIM HENRY

The lesson of the pizza delivery man

11:00 am U.S. ET | Jan. 21, 2015
Here’s a lesson for dealerships that run security cameras in the F&I office and elsewhere: Treat all store visitors well.... Read More »

 

Strong job market defangs default threat

11:00 am U.S. ET | Jan. 21, 2015
There’s a simple economic reason not to worry about auto-loan delinquencies, says Tom Webb, Manheim’s chief economist.... Read More »

 

Removing F&I roadblocks

12:01 am U.S. ET | Jan. 21, 2015
Three automotive industry leaders discuss why increased use of online tools can help decrease the time consumers spend in the finance and insurance department while they're buying a car. The discussion was held at the 2015 Automotive News World Congress in Detroit.... Read More »

 

Nicolosi returns to Volvo Financial with broader duties

9:00 am U.S. ET | Jan. 21, 2015
Tony Nicolosi has been named president of Volvo Cars Financial Services of the Americas, 16 months after he became CEO of Volvo Cars of North America. The move is part of a management shakeup at the struggling brand, which also includes global corporate product strategy chief Lex Kerssemakers being named to the post of CEO for North America.... Read More »

 

Loan terms will grow, making price increases more affordable, FCA's Bigland says

12:01 am U.S. ET | Jan. 21, 2015
Fiat Chrysler Automobiles' head of US and Canadian sales says loose credit terms will continue to drive new vehicle sales, even as pent-up demand dwindles in a recovered economy.... Read More »

 

DEALERS UNDER SIEGE

Pressures on franchise system put retailers in a bunker mentality

12:01 am U.S. ET | Jan. 19, 2015
Some dealers say the pressures -- threats, even -- to the franchise system have never been greater. And some worry that those pressures could damage the dealer model beyond repair.... Read More »

 

JAMIE LaREAU

What keeps leadership dealers awake at night?

12:01 am U.S. ET | Jan. 17, 2015
Even in good times, there are things that will keep most dealers awake at night. At the Detroit auto show last week, I sat down with the outgoing chairman of the National Automobile Dealers Association, Forrest McConnell, and the incoming chairman, Bill Fox, to talk about what gives them restless nights.... Read More »

 

2015 AUTOMOTIVE NEWS WORLD CONGRESS

FCA's Bigland says loan terms will grow, making price increases more affordable

6:10 pm U.S. ET | Jan. 14, 2015
Fiat Chrysler Automobiles' head of US and Canadian sales says loose credit terms will continue to drive new vehicle sales, even as pent-up demand dwindles in a recovered economy.... Read More »

 

Q&A

Larry H. Miller Group takes its F&I products nationwide

11:45 am U.S. ET | Jan. 14, 2015
Auto retailer Larry H. Miller Group of Cos. is expanding its proprietary F&I products to dealerships nationwide. The company has begun selling such products as extended service contracts, GAP, identify theft protection, anti-theft etching, prepaid maintenance and more to nongroup stores through its captive finance administrator.... Read More »

 

Dealers applaud GM Financial's ongoing buildup to full captive

11:45 am U.S. ET | Jan. 14, 2015
General Motors' move to steer all Cadillac and GMC/Buick lease incentive money to GM Financial as part of the captive's ongoing buildup was welcome news for dealers, dealers say. The absence of a true captive finance company has been a competitive handicap for GM dealers, especially in leasing.... Read More »

 

Sales and leasing forecast to grow more slowly in 2015

11:00 am U.S. ET | Jan. 14, 2015
Sales will keep growing in 2015 on favorable economic conditions. But automakers also will boost incentives and turn slightly more to leasing.... Read More »

 

JIM HENRY

Lending practices face new scrutiny: States

11:30 am U.S. ET | Jan. 14, 2015
State officials aren't far behind the federal government in the present crackdown on auto lenders, especially in the subprime segment.... Read More »

 

Sloppiness with sensitive info can be costly

12:01 am U.S. ET | Jan. 12, 2015
Experts say many dealerships do not do enough to protect customer paperwork in the showroom or to secure their data management system from infiltration. To prove this, many consultants, and dealers themselves, do secret showroom walkthroughs looking for violations. In many cases, they find sensitive paperwork left out in plain sight. That's a big no-no.... Read More »

 

GM to use GM Financial for subsidized leases, drop Ally, U.S. Bank

3:19 pm U.S. ET | Jan. 9, 2015
General Motors plans to make GM Financial its preferred lender for subsidized leases, a big step toward elevating its in-house lending arm into a full-line captive finance provider to enhance GM dealers' ability to sell vehicles.... Read More »

 

JIM HENRY

'Flat-rate model,' yes. Flat fees, maybe not.

11:00 am U.S. ET | Jan. 7, 2015
One veteran F&I vendor predicts that in 2015 more lenders will probably adopt a “flat-rate model” to pay dealerships for arranging auto loans.... Read More »

 

F&I manager welcomes dogs, closes deals

11:30 am U.S. ET | Jan. 7, 2015
At some Subaru dealerships, the staff goes all out to help customers finalize and finance a new-car deal, including dog sitting. At Bryan Subaru in New Orleans, finance and insurance manager Jennifer Belisle's “to do” list even includes an unusual task: Order more poop bags.... Read More »

 

More thin files? Technology can help

11:45 am U.S. ET | Jan. 7, 2015
Dealerships and auto lenders are encountering an increase in “thin files” -- loan applicants who don't have enough credit history to generate a credit score using traditional methods, experts said in a series of interviews and presentations.... Read More »

 

Ally sells last of its overseas operations to GM Financial

11:30 am U.S. ET | Jan. 7, 2015
Ally Financial has stripped down to its core businesses: U.S. auto finance, F&I products such as extended service contracts, commercial loans to dealers, and online retail banking. The company jettisoned the last of its noncore operations when it completed the sale of its auto financing joint-venture unit in China to General Motors' captive finance company, GM Financial, for $1 billion.... Read More »

 

Q&A

EFG executive Stephens looks into his 2015 crystal ball

11:30 am U.S. ET | Jan. 7, 2015
Fixed dealership compensation for arranging auto loans likely will gain traction in 2015, predicts John Stephens, senior vice president of dealer services at EFG Cos., a major F&I administrator.... Read More »

 

Appearance products fight to stay on menu

12:01 am U.S. ET | Dec. 30, 2014
Shorter F&I product menus are crowding all but a few top sellers right off the menu, which can leave vehicle appearance products, such as exterior finish and fabric protection, fighting for a spot.... Read More »

 

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