Finance & Insurance

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....
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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....
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Land Rover, Toyota top ALG's Residual Value Awards

8:15 am U.S. ET | Nov. 17, 2014
Land Rover and Toyota earned top brand honors for vehicles predicted to hold their value over the next three years, in the ALG Residual Value Awards released today....
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HOW'S MY DRIVING?

Dashboard data shifting the car insurance model and changing ownership math

12:01 am U.S. ET | Nov. 17, 2014
As dashboard data make it easier to determine how people are driving, and how much, insurers are moving toward a usage-based insurance model that could upend the cost-benefit analysis of car ownership....
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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....
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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....
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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....
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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....
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Tesla offers leasing options for new Model S in U.S.

6:49 am U.S. ET | Oct. 27, 2014
Tesla Motors unveiled a leasing policy for its new Model S with an option for buyers in the United States to return the car within three months of purchase....
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M-B captive hikes online sales of off-lease cars

12:01 am U.S. ET | Oct. 27, 2014
An enhancement to Mercedes-Benz Financial Services' 24/7 online remarketing tool has helped the captive finance company boost online sales of off-lease vehicles to dealers....
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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....
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JIM HENRY

Subprime is no runaway train

12:01 am U.S. ET | Oct. 8, 2014
There it goes again, as Ronald Reagan might have said. The New York Times is still hammering a theme that subprime auto loans will endanger the U.S. economy in the way that subprime mortgages helped bring about the Great Recession....
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Sonic to launch captive -- in a few years

12:01 am U.S. ET | Oct. 6, 2014
Sonic Automotive plans to launch a captive finance arm, but the startup date is at least four years away....
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Test offers off-lease Toyotas

12:01 am U.S. ET | Oct. 6, 2014
Toyota Financial Services is testing a program that offers off-lease vehicles for sale to dealers outside its franchise network while the vehicles are still sitting on the lots of Toyota and Lexus dealers that accepted the vehicles....
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EDWARD NIEDERMEYER

Dissecting what it means when Buffett grabs the wheel

11:27 am U.S. ET | Oct. 4, 2014
Wherever Warren Buffett goes, investors follow. But for anyone who thinks now is the best time to buy into car dealerships, a quick reality check may be in order....
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U.S. charges 5 former dealer employees with loan fraud conspiracy in Ala.

7:38 am U.S. ET | Oct. 3, 2014
Five former Serra Nissan employees have been charged in Birmingham, Ala., in connection with an alleged conspiracy to fraudulently increase loan approvals and car sales, the FBI said in a statement....
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JIM HENRY

Lenders must look through consumers' eyes

12:01 am U.S. ET | Oct. 1, 2014
In the second of what's shaping up to be a series of attacks on subprime auto finance -- the first was in July -- The New York Times last week made a breathless page one story out of a years-old device: the vehicle starter interrupt....
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Report faults Treasury on 'excessive' post-bailout pay at GM, Ally

12:13 pm U.S. ET | Sept. 24, 2014
Top executives at General Motors and Ally Financial received excessive compensation after receiving bailout funds from the U.S. Treasury in 2009, according to a Treasury special inspector general report released today....
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JIM HENRY

Auto finance industry still paying for past sins

12:01 am U.S. ET | Sept. 24, 2014
Consumer Financial Protection Bureau regulators seem to have a caricature of a plaid, polyester sport coat-wearing car salesman in mind when they talk about auto retailing....
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JIM HENRY

The case for casting a wider net with credit apps

12:01 am U.S. ET | Sept. 17, 2014
Auto lenders complain they hate it when dealership F&I managers send them credit applications outside their preferred range of credit scores....
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JIM HENRY

Regulation forecast calls for rain, former CFPB exec says

11:00 am U.S. ET | Sept. 10, 2014
Rick Hackett, a former assistant director for the Consumer Financial Protection Bureau who was the bureau's liaison to the auto finance industry, predicted the bureau would probably unveil a long-awaited rule next week, defining which nonbanks fall under the CFPB's jurisdiction....
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JIM HENRY

F&I wait times have virtual repercussions

11:00 am U.S. ET | Sept. 10, 2014
Dealerships know that customer satisfaction suffers if car buyers spend time sitting outside the F&I office. But there’s another reason why dealerships should slash F&I wait times: Most customers who use their mobile devices at dealerships use them to shop for other vehicles and better deals elsewhere....
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Report: Lenders keeping lid on risky business

12:01 am U.S. ET | Sept. 8, 2014
Experian's latest State of the Automotive Finance Market report, covering the second quarter, suggests lenders aren't headed down any slippery slopes when it comes to discipline....
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LETTER TO THE EDITOR

Can't judge client's ability to pay

12:01 am U.S. ET | Sept. 1, 2014
I learned many years ago that you cannot be a judge of your customer's financial ability to purchase a vehicle....
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CFPB takes new tack in auto lender crackdown

12:01 am U.S. ET | Aug. 25, 2014
The Consumer Financial Protection Bureau took a fresh approach to cracking down on auto lenders, citing one group for failing to furnish accurate customer data to credit reporting agencies....
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