F&I Newsletter

JIM HENRY

BLOG: Women in automotive seek more peers

12:15 pm U.S. ET | April 15, 2015

A lot of dealer principals and general managers swear by their female salespeople and F&I managers and wish they had more. But in the business world at large, auto industry careers for women are a “best-kept secret.”...
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JIM HENRY

BLOG: Lenders' outcry against CFPB 'narratives' is justified

12:01 am U.S. ET | April 8, 2015

It's no wonder auto lenders cried foul last month when the CFPB announced its plan to begin posting consumers' first-person tales of their grievances with auto loans later this year....
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JIM HENRY

BLOG: No such thing as 'little' lies on credit apps

11:00 am U.S. ET | April 1, 2015

The Federal Trade Commission served up a forceful reminder last week that inflating a customer's income on a credit application isn't just a little white lie, even if it's intended to “help” the customer....
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Ally touts dealership camaraderie in new ad campaign

2:44 pm U.S. ET | March 31, 2015

Ally Financial is touting the camaraderie it has with dealerships in a new ad campaign that puts an emphasis on storytelling....
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Ex-dealership staffers face prison

12:01 am U.S. ET | March 30, 2015

Several former sales staffers at a Birmingham, Ala., Nissan store face federal prison time as part of a federal crackdown on fraudulent practices in car dealerships....
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JIM HENRY

BLOG: If dealers don't weigh in, they can't gripe

12:30 pm U.S. ET | March 25, 2015

Dealers have a chance right now to weigh in on what they like and don’t like about their lenders, and they shouldn’t miss the opportunity.
...
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Land Rover adds Range Rover Sport HST for 2016

12:15 pm U.S. ET | March 24, 2015

Land Rover is set to introduce the new Range Rover Sport HST limited edition at the New York Auto Show next week. The new, 380-hp model will slot in between the 340-hp base model and the 550-hp supercharged version....
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JIM HENRY

BLOG: Size of average tax refund makes a decent down payment

11:45 am U.S. ET | March 18, 2015

For anybody keeping track -- which is to say, anybody interested in subprime auto lending – U.S. tax refunds have fallen a bit more behind than they were a few weeks ago....
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As GM trims warranties, will buyers even notice?

12:01 am U.S. ET | March 16, 2015

One dealer said "it really didn't work." An analyst called it a useful enticement to draw consumers to Chevrolet and GMC. Those were just some of the responses to General Motors' decision to scale back its generous powertrain warranties....
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Penske launches digital sales pilot

12:01 am U.S. ET | March 16, 2015

Penske Automotive Group is launching an online sales pilot program it calls "Preferred Purchase," which enables customers to handle much of a transaction online. The pilot this week will be available on the websites of five Florida stores and six Washington-area stores....
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JIM HENRY

BLOG: Congressmen get testy with CFPB chief Cordray

11:45 am U.S. ET | March 11, 2015

The Consumer Financial Protection Bureau and its critics on the House Financial Services Committee traded jabs in a tense session last week as CFPB Director Richard Cordray presented the bureau's semiannual report....
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JIM HENRY

BLOG: The auto fallout from tax refund delays

11:45 am U.S. ET | March 4, 2015

Tax refund season is typically the high point of the year for subprime auto lenders, but so far the early tax refund statistics are down slightly from a year ago....
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BLOG: Lender groups want answers from the CFPB

12:15 pm U.S. ET | Feb. 25, 2015

A letter sent last week by the American Financial Services Association and other trade associations to Richard Cordray, director of the Consumer Financial Protection Bureau, was aimed at prodding the CFPB to publicly respond to a study AFSA commissioned last year....
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JIM HENRY

BLOG: GM Financial-Chevy lease exclusivity seems likely

11:15 am U.S. ET | Feb. 18, 2015

There wasn't much doubt, but General Motors disclosed for the first time in an SEC filing that it is considering plans to throw all Chevrolet lease incentives to GM Financial instead of sharing them among GM Financial, Ally Financial and U.S. Bank....
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JAMIE LaREAU

BLOG: Are flat finance fees inevitable? How to lessen the blow

11:30 am U.S. ET | Feb. 18, 2015

Flat finance fees are coming. And if you now derive more than 40 percent of your F&I revenue per vehicle from a finance reserve, you're in trouble....
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Lithia, DCH build on the other's strengths

12:01 am U.S. ET | Feb. 16, 2015

Just over four months after Lithia Motors closed on its deal to buy DCH Auto Group's 27 dealerships, the two groups are busy sharing best practices and instituting a new culture at DCH....
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JIM HENRY

BLOG: A positive outlook for e-contracting

12:01 am U.S. ET | Feb. 11, 2015

When it comes to e-contracting, maybe the glass is finally more half full than half empty.
...
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JIM HENRY

BLOG: Ally's Carpenter leaves on a high note

11:45 am U.S. ET | Feb. 4, 2015

Michael Carpenter, who retired as CEO of Ally Financial on Monday, can leave saying, “Mission accomplished.”...
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JIM HENRY

BLOG: Auto lenders cite discipline with U.S. sales booming

11:00 am U.S. ET | Jan. 28, 2015

“Discipline” was the watchword for auto lenders in panel discussions and interviews in and around the National Automobile Dealers Association convention....
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KRISHNAN ANANTHARAMAN

BLOG: Spending billions but coming up short on the trust scale

9:00 am U.S. ET | Jan. 25, 2015

To really make customers more comfortable while buying a new car, dealers should take a close look at every step of the transaction process they put a consumer through, and figure out where trust is leaking out....
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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....
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JAMES B. TREECE

BLOG: 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....
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JAMES B. TREECE

BLOG: 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....
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JIM HENRY

BLOG: 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....
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VIDEO: 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....
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