Finance and Insurance Newsletter

ARLENA SAWYERS

Popping the subprime bubble myth

12:01 am U.S. ET | Nov. 19, 2014
There is no subprime auto loan bubble, darn it. That message came through loud and clear in session after session during the recent Used Car Week conference sponsored in Las Vegas.... Read More »

 

New study slams CFPB methodology

12:01 am U.S. ET | Nov. 19, 2014
The statistical method the Consumer Financial Protection Bureau uses to identify which consumers belong to minority groups correctly identified African-American borrowers only 24 percent of the time.... Read More »

 

AutoNation to add branded F&I products next year

12:01 am U.S. ET | Nov. 19, 2014
AutoNation will start selling private-label F&I products in 2015 as part of the rollout of its new digital storefront. The nation’s largest dealership group also is contemplating AutoNation-branded finance and lease contracts and whether to set up its own captive finance company... Read More »

 

Demand for faster deals could speed e-contracting

12:01 am U.S. ET | Nov. 19, 2014
Dealerships are trying hard to speed sales transactions, and that may give a shot in the arm to electronic signatures and e-contracting for auto loans, experts say.... Read More »

 

JIM HENRY

Free advice for consumers can be worth the price

12:01 am U.S. ET | Nov. 19, 2014
There’s a bright spot for dealerships that do a lot of business with automakers’ captive finance companies and preferred lenders, data on the website Wallet Hub show: Car manufacturers (that is, captives) charge the lowest auto loan rates for new cars, at 40 percent below average.... Read More »

 

Online financial transparency trumps lowest price, dealer says

10:00 am U.S. ET | Nov. 12, 2014
Customers who apply for vehicle financing on driversselect.com get real information about interest rates, down payments and monthly payments that does not change once they arrive at the Dallas used-only dealership, CEO Steve Hall said.... Read More »

 

Dealertrack bullish on auto sales, financing

10:00 am U.S. ET | Nov. 12, 2014
U.S. auto sales should keep growing for the next several years, providing more support to the recent rise in leasing and auto financing activity, Dealertrack Technologies CEO Mark O'Neil says.... Read More »

 

JIM HENRY

‘Disparate impact’ opposition sees hope

12:01 am U.S. ET | Nov. 12, 2014
Hope remains among opponents of the “disparate impact” theory that the U.S. Supreme Court could ultimately rule against the theory in court, maybe in 2015.... Read More »

 

Merger raises question about finance veteran Landy's next move

10:00 am U.S. ET | Nov. 12, 2014
The newly merged Flagship Credit Acceptance and CarFinance Capital will be led by Flagship CEO Michael Ritter, private-equity firm Perella Weinberg Partners, which oversees both companies, said in unveiling the deal last week. But Ritter's appointment raises a question about what's next for CarFinance Capital CEO Jim Landy.... Read More »

 

Credit unions aim to boost auto loans in 2015

10:00 am U.S. ET | Nov. 12, 2014
Credit unions are putting auto loans on the front burner in 2015. Nearly half of credit unions that responded to a recent survey ranked auto loans as their No. 1 growth opportunity in the next 12 months, TransUnion said.... Read More »

 

Bundlers beware: 1-price packaging pitfalls

12:01 am U.S. ET | Nov. 10, 2014
Dealer David Kelleher is such a fan of product bundling, he looks for it in everything he buys.... Read More »

 

LARRY P. VELLEQUETTE

Looking for a new F&I product? Mull this

12:01 am U.S. ET | Nov. 5, 2014
Consider this a free idea -- the kind that hopefully somebody out there takes and develops and uses to make a lot of money.... Read More »

 

Q&A

How some customers cheat themselves

12:01 am U.S. ET | Nov. 5, 2014
When Hennessy Buick-GMC in Georgia signed up this year for an Equifax system that automatically verifies employment and income, Finance Director Blake Bailey thought the system would mostly identify people who had overstated their income.... Read More »

 

Why Santander says it's behind on Chrysler Capital targets

12:01 am U.S. ET | Nov. 5, 2014
Santander Consumer USA has a long way to go to hit the Chrysler Capital sales penetration targets called for in its contract with Chrysler Group.... Read More »

 

JIM HENRY

SEC joins pile of regulators probing subprime loan securitization

12:01 am U.S. ET | Nov. 5, 2014
It appears that when it comes to investigating the securitization of subprime auto loans, the bigger the mountain of regulators, the better.... Read More »

 

GM's summer deals stoke Ally volume

12:01 am U.S. ET | Nov. 5, 2014
Summer incentive programs at General Motors boosted Ally Financial's volume of subvented new-car loans by $800 million in the third quarter, the lender says.... Read More »

 

How to buy your next car in 31 minutes

12:01 am U.S. ET | Nov. 3, 2014
To see if Sonic Automotive's new approach to selling cars really works, Automotive News Staff Reporter Amy Wilson headed to the dealership group's trailblazing Town and Country Toyota store in Charlotte, N.C. Here's how she “bought” a car in 31 minutes.... Read More »

 

Industry fishbowl: Everybody's watching Sonic

12:01 am U.S. ET | Nov. 3, 2014
The industry is closely watching Sonic Automotive Inc. as it seeks to reinvent auto retailing.... Read More »

 

SEC investigates Ally on subprime loans, securitization

2:08 pm U.S. ET | Oct. 31, 2014
Ally Financial is being investigated by the Securities and Exchange with regard to “subprime automotive finance and related securitization activities.”... Read More »

 

JIM HENRY

The story behind that list of dealership slang

12:01 am U.S. ET | Oct. 29, 2014
F&I managers -- mostly appalled, but at least partly amused -- recently passed around online a link to a “Car Dealer Dictionary” of dealership slang, including terms that are supposedly in use in F&I departments.... Read More »

 

GM takes charge of its branded F&I products

6:53 am U.S. ET | Oct. 29, 2014
General Motors is bringing the sales of its branded F&I products in-house, taking over responsibility from captive finance company GM Financial, in a move designed to give those sales a shot in the arm and get those products on more GM dealerships' radar.... Read More »

 

Huntington Bank focuses on internal auto loan growth

7:22 am U.S. ET | Oct. 29, 2014
Huntington Bank, of Columbus, Ohio, switched gears in the last year from expanding its footprint and adding new markets to cultivating more business with its existing dealer network.... Read More »

 

Captives see big rise in leases

7:10 am U.S. ET | Oct. 29, 2014
Leases accounted for almost half of GM Financial originations in the United States and Canada in the quarter. That's a big increase for the GM captive finance company and part of an industry trend that carried leasing to new highs. Last week, Ford Motor Credit Co. also reported an increase in leasing during third quarter.... Read More »

 

Q auto's sales strategy: 1 person, 1 price

12:01 am U.S. ET | Oct. 27, 2014
Casey Coffey said the goal at Q auto -- Asbury Automotive Group Inc.'s new line of used-only dealerships -- is to stock an array of quality used vehicles and make quick, no-hassle sales to consumers. To speed sales, Q auto's strategy calls for product specialists to handle deals from beginning to end.... Read More »

 

GM Financial faces government, state probes over subprime loans, securities

5:49 pm U.S. ET | Oct. 23, 2014
GM Financial disclosed Thursday it is being investigated by “state attorneys general and other governmental offices” in connection with subprime auto loans and the sale of subprime auto loans in the form of asset-backed securities.... Read More »

 

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How 3 dealerships are connecting with tech-savvy shoppers

How 3 dealerships are connecting with tech-savvy shoppers

Three dealers have found ways to forge bonds with car shoppers who are short on time and long on Web smarts. A Honda store has mobilized a young sales team hired from Starbucks and Best Buy. Mon., November 17
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