Finance & Insurance

JESSE SNYDER

BLOG: Midsize with a four-banger or large and loaded? How auto insurance affects consumers' buying power

11:32 am U.S. ET | April 23, 2015

Want $7,700 more to spend on a new car? Move from Michigan to Maine before you insure it. That's because U.S. insurance premiums on a new vehicle vary wildly by state, according Insure.com...
Read More »

JIM HENRY

BLOG: Auto finance critic Warren stands firm on CFPB dealership oversight

11:15 am U.S. ET | April 22, 2015

Sen. Elizabeth Warren is once again calling for direct regulation of auto dealerships by the Consumer Financial Protection Bureau....
Read More »

Ally change saves dealers big money

12:01 am U.S. ET | April 20, 2015

The 4,200 dealerships that finance their vehicle inventory through Ally Financial are seeing savings from Ally's recent shift to peg interest rates to LIBOR rather than a prime-rate benchmark....
Read More »

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.”...
Read More »

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....
Read More »

RICHARD TRUETT

The new sticker shock: High costs to fix high-tech

12:01 am U.S. ET | April 6, 2015

We all know about showroom sticker shock. But here's another side of the affordability problem: the hefty repair costs for minor accidents. At least two factors are driving up the cost to fix vehicles: safety electronics and the way cars are built today....
Read More »

NEAL E. BOUDETTE

BLOG: Apple is a no-show at the New York show

10:19 am U.S. ET | April 2, 2015

Apple's CarPlay and Google's Android Auto are finally here! Well, almost here....
Read More »

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....
Read More »

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....
Read More »

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....
Read More »

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.
...
Read More »

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....
Read More »

VW finance arm eyes record profit in 2015, CEO says

March 18, 2015 12:34 CET

Volkswagen's finance division is targeting 2015 operating profit that will not be below last year's record result of 1.7 billion euros ($1.80 billion), its CEO Frank Witter said....
Read More »

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....
Read More »

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....
Read More »

JESSE SNYDER

BLOG: Why does Ford race? Because it can

3:56 pm U.S. ET | Feb. 27, 2015

He's not yet taking orders from Jay Leno for the Ford GT and GT350R, but the head of Ford Performance, Dave Pericak, still has a full plate....
Read More »

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....
Read More »

JAMIE LaREAU

BLOG: Volvo captive finance's plan to help spur sales of Volvo's XC90

3:30 pm U.S. ET | Feb. 19, 2015

The redesigned 2016 Volvo XC90 is “the big” launch facing Volvo's captive finance company. Just ask Dan Romagnoli. He is the man responsible for making sure dealers get enough financing support to sell the heck out of the crossover when it goes on sale in May....
Read More »

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....
Read More »

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....
Read More »

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....
Read More »

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.
...
Read More »

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.”...
Read More »

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....
Read More »

FOILING FRAUD

Phony deals cost dealers reputation, vehicles and lenders

2:00 pm U.S. ET | Jan. 24, 2015

For employees in a dealership's finance and insurance office, spotting a potentially fraudulent deal is top priority. A mistake not only can cost a dealership a vehicle, it can hurt the store's reputation and its relationships with lenders. It's a challenge for all dealership groups....
Read More »

Automotive News Cover
News by Brand