Finance & Insurance

JAMES B. TREECE

Flawed study has lessons for F&I managers

12:01 am U.S. ET | Feb. 5, 2014
There’s a lot not to like about a new study on discrimination in car loans. But there also are a few nuggets in it that indicate problems in the F&I office.
The study is titled "Non-Negotiable: Negotiation Doesn’t Help African Americans and Latinos on Dealer-Financed Car Loans" and was conducted by the nonprofit Center for Responsible Lending in Durham, N.C.... Read More »

 

Ally, CFPB poles apart on discrimination breadth, evidence

12:01 am U.S. ET | Feb. 3, 2014
Ally Financial and the Consumer Financial Protection Bureau are miles apart on core issues, such as how to measure discrimination and how widespread it is, says Ally CEO Michael Carpenter.... Read More »

 

JIM HENRY

The flat fee misconnect

12:01 am U.S. ET | Jan. 29, 2014
The Consumer Financial Protection Bureau and dealers are talking past each other about flat fees. The CFPB keeps going out of its way to tell auto lenders and dealers that the CFPB isn't insisting on flat fees.... Read More »

 

No sure OK for reserve guidelines

12:01 am U.S. ET | Jan. 27, 2014
The National Automobile Dealers Association is going out on a limb by recommending ways for dealerships to ward off discrimination charges from the Consumer Financial Protection Bureau.... Read More »

 

GABE NELSON

How a Philadelphia dealer might help end the CFPB feud

3:20 pm U.S. ET | Jan. 26, 2014
Kerry Pacifico was a nominee for Time Dealer of the Year. He didn’t win. But the 89-year-old dealer can head home to Philadelphia with satisfaction regardless, knowing that his struggle to satisfy fair-lending regulators a decade ago now offers a way for thousands of his fellow dealers to stay in the Consumer Financial Protection Bureau’s good graces.... Read More »

 

Vehicle loan terms grow

7:17 pm U.S. ET | Jan. 25, 2014
Vehicle loan terms continue to lengthen as more buyers spread their purchase over 72 months.... Read More »

 

Westcott: Keep defending reserve

5:51 pm U.S. ET | Jan. 25, 2014
NADA must continue to defend in-dealership financing or the car-buying public will suffer, outgoing NADA Chairman David Westcott told dealers today.... Read More »

 

JAMES B. TREECE

What happens in 2016 if interest rates rise?

12:01 am U.S. ET | Jan. 24, 2014
2014 will be a good year for the industry. But what about 2016? Some scenarios to consider as interest rates rise.... Read More »

 

JIM HENRY

Biggest F&I buzzword at NADA? Compliance

12:01 am U.S. ET | Jan. 22, 2014
It looks like compliance will be the No. 1 topic at the National Automobile Dealers Association convention in New Orleans this weekend, judging from the many F&I workshops, trade show displays, and all manner of sales pitches scheduled to take place.... Read More »

 

Cancelled Nissan dealer in Calif. wins a retrial

3:53 pm U.S. ET | Jan. 17, 2014
Former Los Angeles dealer Michael Kahn, who was shut down when Nissan Motor Acceptance ended his finance arrangements during the 2009 economic meltdown, has won a new trial in his lawsuit against the company.... Read More »

 

ARLENA SAWYERS

Count on them: Death, taxes and used vehicles

2:48 pm U.S. ET | Jan. 15, 2014
Death and taxes are two things we know we can count on. Here's one more: The new cars and trucks on display this week at the Detroit auto show will become used vehicles someday. That's why analysts from Kelley Blue Book and NADA Used Car Guide spent time at the show studying what's coming down the road.... Read More »

 

JIM HENRY

For Ally, a sting but no big bite

12:01 am U.S. ET | Jan. 15, 2014
Ally Financial’s $98 million consent order with the Consumer Financial Protection Bureau and U.S. Justice Department in December had to sting. But the payment is likely to amount to less than three months’ worth of the company’s 2013 earnings.... Read More »

 

JIM HENRY

Think the CFPB’s tough? It’s not the only one

12:01 am U.S. ET | Jan. 8, 2014
Dealers ought to take a look at a proposal from a consumer advocate group in California that would prohibit “dealer markup.”... Read More »

 

JIM HENRY

2013 was a banner F&I year

12:01 am U.S. ET | Jan. 2, 2014
2013 was a great year for F&I, judging by the performance of the six big publicly traded new-car dealership groups.... Read More »

 

JIM HENRY

Ally, more independent, can better focus on dealers

12:01 am U.S. ET | Dec. 26, 2013
It's time to stop thinking of Ally Financial as GM's captive finance company and get used to the fact that it's an independent bank.... Read More »

 

Ally wins U.S. approval to alter holding structure to keep insurance, vehicle-auction site

11:49 am U.S. ET | Dec. 23, 2013
Ally Financial won regulatory approval to change its holding-company status, allowing the firm to keep an insurance business and a vehicle-auction Web site. Ally, majority owned by the U.S. government, warned in July that regulators might not allow the shift as an exemption ends this month, potentially imposing a “material adverse” effect on earnings.... Read More »

 

Ally, U.S. reach $98M settlement over lending bias

10:05 am U.S. ET | Dec. 20, 2013
Auto lender Ally Financial has agreed to pay $98 million to resolve claims that its manner of paying dealers for arranging contracts led minority car buyers into car loans with higher interest rates. The settlement provides a clear sign of the Consumer Financial Protection Bureau's determination to police the auto lending market.... Read More »

 

JAMIE LaREAU

F&I and the female work force, what an attraction

12:01 am U.S. ET | Dec. 18, 2013
Of all dealership departments, the F&I office has the highest percentage of women in key positions. About 19 percent of all F&I managers are women, says Ted Kraybill, president of DeltaTrends, a Largo, Fla.-based research and consulting firm focused on hiring and retention in the auto industry.... Read More »

 

JAMES B. TREECE

To sell service plans, remind customers about insurance hikes

12:01 am U.S. ET | Dec. 18, 2013
Here's a good reason for your customers to buy extended service contracts: to avoid hikes in their regular auto insurance. We all know that, but here's additional evidence to cite.... Read More »

 

Mercedes names Fulton head of U.S. financial unit

2:42 pm U.S. ET | Dec. 17, 2013
Brian Fulton has been promoted to vice president in charge of Mercedes-Benz Financial Services USA.... Read More »

 

Mercedes-Benz names Exler head of U.S. sales

10:55 am U.S. ET | Dec. 16, 2013
Mercedes-Benz USA has appointed Dietmar Exler, the head of its financial services arm, as vice president of sales. Exler, 45, will succeed Michael Slagter, 61, who will retire at the end of February after 11 years with Mercedes-Benz USA.... Read More »

 

JIM HENRY

Pony car offers plenty of F&I opportunities

12:01 am U.S. ET | Dec. 11, 2013
Ford brand salespeople will find a lot to like in the redesigned 2015 Ford Mustang. So will Ford F&I managers.... Read More »

 

General Motors said to plan sale of stake in Ally, report says

1:28 pm U.S. ET | Dec. 4, 2013
GM is planning to sell its stake in Ally Financial, the auto lender majority owned by American taxpayers, a person with knowledge of the transaction told Bloomberg. Selling now would allow GM to avoid a months-long lockup tied to Ally’s initial public offering, according to the person, who asked to remain anonymous because the deal isn’t public.... Read More »

 

Big off-lease battle brewing

12:01 am U.S. ET | Dec. 2, 2013
Automakers are crafting strategies to keep existing customers -- and perhaps poach some new ones -- when the number of vehicle owners coming off lease shoots up next year.... Read More »

 

U.S. delays health care exchanges for small dealers, other businesses for year

3:55 pm U.S. ET | Nov. 27, 2013
The Obama administration is delaying until November 2014 the launch of the federal government's online health exchange where smaller new-vehicle dealers and other mom-and-pop businesses can shop for coverage. Small businesses with fewer than 50 employees will still have the option to purchase health insurance coverage for workers through the new marketplace but will not be able to do so online.... Read More »

 

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How a Texas Toyota store solved used-car-supply challenge

How a Texas Toyota store solved used-car-supply challenge

Mike Shaw Toyota in Corpus Christi, Texas, struggled to find good used cars. So it started providing free appraisals to service customers and offered to buy their vehicles on the spot. Mon., April 14
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