F&I Newsletter

JIM HENRY

Credit union ads highlight misperceptions of dealer reserve

12:01 am U.S. ET | July 16, 2014
A Florida credit union's ad campaign beating up dealers and auto lenders for “rate markups” is hard to look at, but dealers and lenders should check it out to see what they're up against in terms of public perception and in case the approach catches on in other states....
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Sonic bets new plan will transform automotive retailing

12:01 am U.S. ET | July 14, 2014
After more than five years of internal work and external carping, Sonic Automotive Inc. will roll out a bet-the-farm change in how it sells cars late this month at a Toyota store in Charlotte, N.C....
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Sales staff gets more responsibility, higher pay

12:01 am U.S. ET | July 14, 2014
Sonic Automotive began preparing its staff for the transition to its One Sonic-One Experience initiative years ago when it launched its playbooks, or guides for how to sell used cars, new cars, finance and insurance products and so on....
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JIM HENRY

Why buy-here, pay-here is losing some turf

12:01 am U.S. ET | July 9, 2014
More consumers are passing up offers from buy-here, pay-here stores in favor of cheap financing by some franchised new-car dealerships, one giant used-car retailer says....
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JIM HENRY

Don't do much leasing? Better bone up

12:01 am U.S. ET | July 2, 2014
Leasing's not just for luxury brands anymore. It's spreading to mass-market brands too, experts say....
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2-year leases take off at Toyota

12:01 am U.S. ET | June 30, 2014
Toyota is seeing a strong shift into two-year leases this year, a trend that promises quicker customer turnarounds and fuller used-car inventories down the road....
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INSTANT GRATIFICATION

Until Macans arrive, buyers offered short leases on other Porsches

12:01 am U.S. ET | June 30, 2014
U.S. buyers of the new Porsche Macan, which went on sale in May, face a wait of more than six months for delivery. So the company is trying to keep potential Macan buyers happy by putting them in other Porsches during the wait....
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JIM HENRY

Ally moves closer to independence, cheaper money

12:01 am U.S. ET | June 25, 2014
Ally Financial will move one step closer toward independence from government ownership next month when two of its three remaining board members nominated by the U.S. Treasury step down from the board....
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JIM HENRY

Who makes irrational loans? Not Me

12:01 am U.S. ET | June 18, 2014
Are the gremlins at it again in auto loans? Maybe they're to blame for so-called irrational competition, presumably the result of lenders making unprofitable loans to gain market share....
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JIM HENRY

U.S. House action on CFPB is symbolic

12:01 am U.S. ET | June 11, 2014
The auto finance industry, auto dealers, and their mostly Republican allies in Congress continue to make it clear they don’t like the Consumer Financial Protection Bureau or how it was set up in 2010....
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JIM HENRY

Lender consent order grants insight into FTC

12:01 am U.S. ET | June 4, 2014
Dealers and their legal counsels should check out last week's consent order between subprime auto lender Consumer Portfolio Services and the Federal Trade Commission, even though the case isn't about dealerships....
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JIM HENRY

NADA's take on 'The Fallacy of Flats'

12:01 am U.S. ET | May 28, 2014
The National Automobile Dealers Association has tried for months to impress upon the Consumer Financial Protection Bureau that switching from dealer reserve to flat fees will not eliminate dealerships' ability to set their compensation for auto loans....
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GABE NELSON

Numbers add to NADA's arsenal against Tesla, CFPB

5:04 pm U.S. ET | May 22, 2014
The National Automobile Dealers Association has put out its annual NADA Data report, a statistical smorgasbord that explains where America's franchised car dealers are, how much money they make and how they make it....
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JIM HENRY

Dealer reserve to come under fire in D.C.

12:01 am U.S. ET | May 21, 2014
The Center for Responsible Lending and other advocacy groups are hosting a briefing on Capitol Hill to address what the groups call “auto lending abuses,” the chief one being dealer reserve, also known as dealer markup....
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JIM HENRY

Chrysler Capital takes toll on Ally

12:01 am U.S. ET | May 14, 2014
Santander Consumer USA and Ally Financial passed each other coming and going in the first quarter in terms of business with Chrysler Group, but don’t expect them to exchange a friendly wave....
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JIM HENRY

Dealer reserve is here to stay … right?

12:01 am U.S. ET | May 7, 2014
Auto lenders are sticking to dealer reserve despite the Consumer Financial Protection Bureau's crackdown and despite BMO Harris Bank's recent switch to a flat fee....
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JIM HENRY

Tax refund as down payment? Why not?

12:01 am U.S. ET | April 30, 2014
The first quarter is typically the strongest quarter of the year for subprime financing and used-car auto loans due to the timing of tax refunds, say industry experts such as Asbury Automotive COO Michael Kearney, who noted the trend last week....
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JIM HENRY

Why Group 1 finds F&I a tougher sell overseas

12:01 am U.S. ET | April 23, 2014
Think F&I managers have it tough making a sale in the United States? It’s a lot tougher in the United Kingdom and in Brazil, Group 1 Automotive says....
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Manufacturers brace for the used-car flood

12:01 am U.S. ET | April 21, 2014
A projected increase in the supply of used vehicles will be good news for U.S. dealers who have been battling a lingering effect of the recession. But it will be a double-whammy for new-car buyers: lower value on their trade-ins and less-attractive lease terms....
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JIM HENRY

Inquiry into alleged CFPB bias picks up steam

12:01 am U.S. ET | April 16, 2014
The issue of whether, ironically, the Consumer Financial Protection Bureau allegedly discriminates against its own employees has got legs....
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JIM HENRY

Misleading sales ads hurt F&I

12:01 am U.S. ET | April 9, 2014
State and federal regulators have cracked down this year on misleading dealership advertising. In just about every case, their complaint was that the advertising failed to adequately disclose financial terms or hidden costs....
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New-vehicle sales driven by off-lease volume, Manheim analyst says

7:42 am U.S. ET | April 8, 2014
New-vehicle sales increases are being supported by consumers returning to the market as their vehicle leases expire, not just pent-up demand from the recession years, said Tom Webb, chief economist at Manheim....
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Longtime J.D. Power exec Tucker named CEO of DealerRater.com

9:00 am U.S. ET | April 8, 2014
Online car dealer review site DealerRater has named Gary Tucker as the company's first CEO, taking on the role split between founder Chip Grueter and Vice President Jamie Oldershaw since 2002....
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JIM HENRY

Off-lease surge should spark even more leasing

12:01 am U.S. ET | April 2, 2014
Scheduled lease terminations are expected to grow again in 2014, providing a strong tailwind for additional leases this year and higher customer loyalty....
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JIM HENRY

Ally takes step toward 'free at last' with IPO

12:01 am U.S. ET | March 27, 2014
It's been a long time coming, but Ally Financial finally filed for its initial public stock offering today -- another step in a long process toward becoming a truly independent company....
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Fewer bosses, Disney savvy, $2 idea lift stores

Fewer bosses, Disney savvy, $2 idea lift stores

A Chrysler Group dealership chain is stripping away layers of management to sell cars faster. A Chevrolet-Cadillac store is enchanting customers through Disney training. Mon., July 21
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