Finance & Insurance

Blame Uncle Sam for Sally's loan debt

12:01 am U.S. ET | March 31, 2014
Jesse Snyder's March 17 column, "Why Sally can't buy a new car," was full of facts but did not get to the root cause.... Read More »

Ally Financial IPO could generate $2.7 billion for U.S. Treasury

9:00 am U.S. ET | March 27, 2014 | UPDATED: 3/27/14 11:53 am ET - adds background
Ally Financial, the former GMAC auto lender rescued by the federal government during the 2008 financial crisis, is helping the Treasury Department divest its stake by seeking as much as $2.7 billion in an initial public offering.... Read More »

Ally says Q4 net income falls, GM relationship extended

12:35 pm U.S. ET | Feb. 6, 2014
Ally Financial said today it has posted fourth-quarter net income of $104 million and lower pretax income for its auto finance business. The lender also said its preferred-lender relationship with General Motors, set to expire Dec. 31, was extended while the companies negotiate a new pact.... Read More »

Ally, CFPB poles apart on discrimination breadth, evidence

12:01 am U.S. ET | Feb. 3, 2014
Ally Financial and the Consumer Financial Protection Bureau are miles apart on core issues, such as how to measure discrimination and how widespread it is, says Ally CEO Michael Carpenter.... Read More »

No sure OK for reserve guidelines

12:01 am U.S. ET | Jan. 27, 2014
The National Automobile Dealers Association is going out on a limb by recommending ways for dealerships to ward off discrimination charges from the Consumer Financial Protection Bureau.... Read More »

Westcott: Keep defending reserve

5:51 pm U.S. ET | Jan. 25, 2014
NADA must continue to defend in-dealership financing or the car-buying public will suffer, outgoing NADA Chairman David Westcott told dealers today.... Read More »

Vehicle loan terms grow

7:17 pm U.S. ET | Jan. 25, 2014
Vehicle loan terms continue to lengthen as more buyers spread their purchase over 72 months.... Read More »

Cancelled Nissan dealer in Calif. wins a retrial

3:53 pm U.S. ET | Jan. 17, 2014
Former Los Angeles dealer Michael Kahn, who was shut down when Nissan Motor Acceptance ended his finance arrangements during the 2009 economic meltdown, has won a new trial in his lawsuit against the company.... Read More »

Ally wins U.S. approval to alter holding structure to keep insurance, vehicle-auction site

11:49 am U.S. ET | Dec. 23, 2013
Ally Financial won regulatory approval to change its holding-company status, allowing the firm to keep an insurance business and a vehicle-auction Web site. Ally, majority owned by the U.S. government, warned in July that regulators might not allow the shift as an exemption ends this month, potentially imposing a “material adverse” effect on earnings.... Read More »

General Motors said to plan sale of stake in Ally, report says

1:28 pm U.S. ET | Dec. 4, 2013
GM is planning to sell its stake in Ally Financial, the auto lender majority owned by American taxpayers, a person with knowledge of the transaction told Bloomberg. Selling now would allow GM to avoid a months-long lockup tied to Ally’s initial public offering, according to the person, who asked to remain anonymous because the deal isn’t public.... Read More »

Big off-lease battle brewing

12:01 am U.S. ET | Dec. 2, 2013
Automakers are crafting strategies to keep existing customers -- and perhaps poach some new ones -- when the number of vehicle owners coming off lease shoots up next year.... Read More »

U.S. delays health care exchanges for small dealers, other businesses for year

3:55 pm U.S. ET | Nov. 27, 2013
The Obama administration is delaying until November 2014 the launch of the federal government's online health exchange where smaller new-vehicle dealers and other mom-and-pop businesses can shop for coverage. Small businesses with fewer than 50 employees will still have the option to purchase health insurance coverage for workers through the new marketplace but will not be able to do so online.... Read More »

Access F&I

Honda, Mercedes and Toyota, Lexus win resale honors

4:46 pm U.S. ET | Nov. 18, 2013
Honda, Mercedes-Benz and the Toyota and Lexus brands picked up honors for building vehicles that are best at retaining their value after years of ownership. Honda was named the top mainstream brand and Mercedes the top luxury brand in the annual Residual Value Awards by ALG.... Read More »

CFPB chief concedes need for balance in auto-loan oversight

4:24 pm U.S. ET | Nov. 12, 2013
Richard Cordray, director of the Consumer Financial Protection Bureau, said he wants more “openness and transparency” for the agency's oversight of auto lending, but added that the agency still has strong concerns about how dealerships arrange loans.... Read More »

Frothy subprime borrowing drives U.S. sales, raises alarms

1:27 pm U.S. ET | Nov. 8, 2013
As the fifth anniversary of the Federal Reserve's policy of keeping interest rates near zero approaches, the market for subprime borrowing is once again becoming frothy, this time in the car industry. As with mortgages in 2006 and 2007, the central bank's stimulus is making it easier for U.S.... Read More »

CFPB responds to lawmaker letters

6:19 pm U.S. ET | Nov. 4, 2013
The Consumer Financial Protection Bureau on Monday gave more clues about the methods underpinning its claims that auto dealers engaged in bias in setting interest rates for car loans. But the National Automobile Dealers Association says the agency didn't provide the answers that its members were looking for.... Read More »

Toyota leverages stellar credit rating for financing edge

12:01 am U.S. ET | Oct. 23, 2013
Toyota's in-house lender is leveraging the automaker's AA- credit rating and cash to offer low rates and keep customers coming back. The company's $37 billion cash pile and credit ratings that outrank GM and Ford enable its Toyota Financial Services unit to offer more loans and take on riskier borrowers.... Read More »


Coping with higher rates

12:01 am U.S. ET | Oct. 21, 2013
A slight rise in interest rates from extreme lows will affect everything from auto and dealer floorplan loans to long-term debt for automakers and suppliers.... Read More »

Biweekly finance plan boosts F&I revenue

12:01 am U.S. ET | Oct. 14, 2013
When Michael Barrett joined Vaden Automotive Group as finance director in January 2012, he was tasked with boosting finance and insurance revenues.... Read More »

Nissan joins Hyundai in giving customers a break during U.S. shutdown

4:32 pm U.S. ET | Oct. 3, 2013
Nissan Motor Acceptance, the automaker's captive finance arm in the United States, is taking a page out of Hyundai's book and giving customers a break on loan and payments during the federal government shutdown.... Read More »

Ally raises $611 million from sale of Brazil operations

9:34 am U.S. ET | Oct. 2, 2013
Ally Financial has completed the sale of its Brazil operation to General Motors Financial for about $611 million.... Read More »

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How a Texas Toyota store solved used-car-supply challenge

How a Texas Toyota store solved used-car-supply challenge

Mike Shaw Toyota in Corpus Christi, Texas, struggled to find good used cars. So it started providing free appraisals to service customers and offered to buy their vehicles on the spot. Mon., April 14
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