FJIM HENRY Are worries over slower, smaller tax refunds overblown? 12:01 am U.S. ET | May 22, 2013  Some lenders complained in first-quarter earnings reports about smaller and later tax refunds. IRS refund statistics weren’t down by much, but any change is important because tax refunds contribute to the annual peak in subprime financing, according to dealers and subprime lenders.... Read More »
JAMIE LaREAU For happier customers, sales and F&I need to talk 12:01 am U.S. ET | May 22, 2013  Good communication between sales and finance staff cannot be overstated. That’s my takeaway from reading a recent chat on a Facebook page shared by finance managers.... Read More »
JIM HENRY 'Last resort' means something good 12:01 am U.S. ET | May 15, 2013  In a recent blog, I referred to GM Financial as a “lender of last resort” for parent company General Motors. I meant simply that GM regards GM Financial as a lender GM can count on, no matter what.... Read More »
JIM HENRY Subprime scrutiny could open a real can of worms 12:01 am U.S. ET | May 8, 2013  Here's a disturbing thought: As much as the Consumer Financial Protection Bureau has upset auto lenders and dealers, it hasn't even gotten around to the vast category of subprime auto lending.... Read More »
JIM HENRY GM, Chrysler take opposite tacks on captives 12:01 am U.S. ET | May 1, 2013  Does a car company need to own a captive finance company? While GM and Chrysler Group came off similar experiences of being partners with Ally Financial after their old captives went away during restructuring, they have reached different conclusions.... Read More »
JIM HENRY Why car loans, mortgages are apples and oranges 12:01 am U.S. ET | April 24, 2013  Using questionable logic, the Consumer Financial Protection Bureau tends to equate mortgage brokers and auto dealers.... Read More »
JAMIE LaREAU Another case for bundling 12:01 am U.S. ET | April 24, 2013  F&I managers like to bundle products, with good reason. The practice typically spurs sales of other products.... Read More »
JIM HENRY Who's the No. 1 lender? Gimme an A … 12:01 am U.S. ET | April 17, 2013  Who's No. 1 in auto finance? It depends on who's doing the telling.... Read More »
JIM HENRY Lots of chatter on CFPB and dealer reserve 12:01 am U.S. ET | April 10, 2013  The Consumer Financial Protection Bureau’s effort to cut dealer reserve is sparking a fair amount of online debate.... Read More »
JAMIE LaREAU Strange question? Not really 12:01 am U.S. ET | April 10, 2013  Should an F&I officer or a salesperson explain the risks of a big down payment to a lease customer?... Read More »
JAMIE LaREAU Worried about the CFPB? Stay calm 12:01 am U.S. ET | April 3, 2013  Everyone stay calm. That's David Westcott's message to finance and insurance professionals, even though the chairman of the National Automobile Dealers Association admits he is very concerned.... Read More »
JIM HENRY Worried about the CFPB? You should be 12:01 am U.S. ET | April 3, 2013  Dealers and lenders are upset that the Consumer Financial Protection Bureau is demanding greater transparency from them, but isn't reciprocating.... Read More »
JIM HENRY The CFPB's new, scary truth 12:01 am U.S. ET | March 27, 2013  Last week the Consumer Financial Protection Bureau and Director Richard Cordray threw cold water on a common notion among advocates for dealers and lenders: The CFPB doesn't understand how the business works and everything would be OK if the feds were just “educated.”... Read More »
JIM HENRY Dealers and credit unions: Strife or synergy? 12:01 am U.S. ET | March 20, 2013  Is there peace or war between auto dealers and credit unions -- or something in between? From many angles it looks like peace.... Read More »
JAMIE LaREAU A case for a la carte menus 12:01 am U.S. ET | March 20, 2013  Many F&I managers believe bundling is their best friend. By bundling, they can offer customers several F&I products in a package costing less than buying each product individually. A bundle might consist of an extended-service contract, key fob protection and GAP, all for a single price.... Read More »
2013 NEW YORK AUTO SHOW Redesigned 2014 Cadillac CTS to pack twin-turbo V-6 12:13 pm U.S. ET | March 18, 2013  The redesigned 2014 Cadillac CTS sedan that goes on sale this fall will have a 420-hp, twin-turbo 3.6-liter V-6 engine as an option. The redesigned CTS will be unveiled next week at the New York auto show.... Read More »
JIM HENRY F&I survey gives all dealerships a voice 12:01 am U.S. ET | March 13, 2013  It’s March. Time to work on tax returns -- and the annual U.S. Dealer Financing Satisfaction Study from J.D. Power.... Read More »
JIM HENRY A little education can save a lot of complaining 12:01 am U.S. ET | March 6, 2013  It's easy to be cynical about this, but consumer education could ease the sting of tougher regulations that seem to be in the works for auto lenders and dealers.... Read More »
JAMIE LaREAU Facebook fills F&I training void 12:01 am U.S. ET | March 6, 2013  Do you feel you get enough in-house training? I posted that question on a Facebook page catering to F&I managers and trainers last week and got about a dozen replies. Responses were mixed, but the overall sentiment was no.... Read More »
JAMIE LaREAU Sell a service contract on a lease? It's all in the pitch 12:01 am U.S. ET | Feb. 27, 2013  For dealers, a lease deal usually means a bum deal on the back end. The sale of a high-profit product such as an extended-service contract is typically off the table.... Read More »
JIM HENRY Auto industry as boogeyman? Depends on your view 12:01 am U.S. ET | Feb. 27, 2013  The Federal Trade Commission's latest annual report of U.S. consumer complaints could be a good inkblot test for how people feel about auto finance.... Read More »
JIM HENRY Regulation overload would test Einstein 12:01 am U.S. ET | Feb. 20, 2013  Federal regulations on auto finance are on the short list of things for dealers to worry about in 2013, according to a recent panel of National Automobile Dealers Association leaders.... Read More »
JAMIE LaREAU ‘We’ll go to the mat’ on 3rd-party financing 12:01 am U.S. ET | Feb. 13, 2013  Don Chalmers used to wrestle. So he’s used to going to the mat, he says. And he’s prepared to do just that to protect dealers’ finance and insurance business.... Read More »
JIM HENRY The dealer, F&I vendor disconnect 12:01 am U.S. ET | Feb. 13, 2013  There’s a disconnect in the F&I space that’s getting more obvious. Many dealers, including some of the big publicly traded dealership groups, say they’re limiting their F&I menus to three or four items: extended-service contracts, GAP policies, prepaid maintenance and perhaps another.... Read More »
JIM HENRY Sky’s the limit for AutoNation F&I 12:01 am U.S. ET | Feb. 6, 2013  It looks like AutoNation Inc. has upped the ante once again in F&I revenues per vehicle, having reached a record $1,307 in the fourth quarter of 2012.... Read More »
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