F&I Newsletter

JIM HENRY

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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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

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

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

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

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

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

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

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

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

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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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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DEALERS UNDER SIEGE

Pressures on franchise system put retailers in a bunker mentality

12:01 am U.S. ET | Jan. 19, 2015
Some dealers say the pressures -- threats, even -- to the franchise system have never been greater. And some worry that those pressures could damage the dealer model beyond repair....
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JAMIE LaREAU

What keeps leadership dealers awake at night?

12:01 am U.S. ET | Jan. 17, 2015
Even in good times, there are things that will keep most dealers awake at night. At the Detroit auto show last week, I sat down with the outgoing chairman of the National Automobile Dealers Association, Forrest McConnell, and the incoming chairman, Bill Fox, to talk about what gives them restless nights....
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2015 AUTOMOTIVE NEWS WORLD CONGRESS

FCA's Bigland says loan terms will grow, making price increases more affordable

6:10 pm U.S. ET | Jan. 14, 2015
Fiat Chrysler Automobiles' head of US and Canadian sales says loose credit terms will continue to drive new vehicle sales, even as pent-up demand dwindles in a recovered economy....
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JIM HENRY

Lending practices face new scrutiny: States

11:30 am U.S. ET | Jan. 14, 2015
State officials aren't far behind the federal government in the present crackdown on auto lenders, especially in the subprime segment....
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JIM HENRY

'Flat-rate model,' yes. Flat fees, maybe not.

11:00 am U.S. ET | Jan. 7, 2015
One veteran F&I vendor predicts that in 2015 more lenders will probably adopt a “flat-rate model” to pay dealerships for arranging auto loans....
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JIM HENRY

Wishing auto lenders a happy, rational new year

10:30 am U.S. ET | Dec. 30, 2014
Auto lenders are about to embark on another year of worry that the other guy will go “irrational” and start making money-losing loans to gain U.S. market share. They fret they'll be forced to decide whether to give up share or follow suit, sparking losses....
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JIM HENRY

Consent orders and the law of unintended consequences

11:14 am U.S. ET | Dec. 23, 2014
The Consumer Financial Protection Bureau quietly terminated a consent order with Minneapolis-based U.S. Bank last month, a contrast to the fuss it made in announcing the agreement in June 2013....
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JIM HENRY

Free of U.S. ownership, Ally expects cheaper funds, maybe more subprime deals

3:13 pm U.S. ET | Dec. 19, 2014
Ally Financial is “free at last,” to borrow a phrase CEO Michael Carpenter used earlier this year to describe how it would feel for Ally finally to put six years of government ownership behind it....
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JIM HENRY

Will the CFPB redefine “larger”?

12:01 am U.S. ET | Dec. 17, 2014
Auto industry watchers that formally weighed in on the Consumer Financial Protection Bureau’s definition of “larger” auto lenders took predictable positions before the public comment period closed last week....
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JIM HENRY

Who distorted what? Wording of CFPB statement will get its own investigation

11:30 am U.S. ET | Dec. 10, 2014
The ombudsman’s office for the Consumer Financial Protection Bureau said it would conduct an independent review into complaints that the CFPB’s press releases don’t match the consent orders they describe -- something auto finance insiders have complained about bitterly but privately, for fear of provoking the bureau.
...
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JAMIE LaREAU

F&I jobs hold a powerful lure for women

11:00 am U.S. ET | Dec. 10, 2014
It seems women are keen to work in the finance and insurance department. In fact, F&I has the highest percentage of women employees in a dealership, after the office/administration department....
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