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Some dealers shudder when they hear used-car giant CarMax is opening a store down the road. This used-only dealer deliberately placed his second store next to a CarMax. Here's his strategy.
New car-shopping programs from Bank of America and Chase aim to provide leads to dealerships. But what are the risks?
Bank of America will pilot an online platform to match its customers with its dealership clients next month. The online program follows similar moves by Chase Auto Finance and Ally Financial.
Auto lending wasn't among the priorities set out in December by Patrice Ficklin, fair lending director at the Consumer Financial Protection Bureau, angering some members of Congress.
Inspired by a conversation with Ken Garff Automotive Group, Ally Financial has launched a book with a storyline that jumps from planet to planet to teach children financial skills.
Last month 15 state attorneys general filed an amicus brief supporting the call to restructure the Consumer Financial Protection Bureau.
In a move that might prevent auto lending from hitting a speed bump, VantageScore Solutions has developed a new generation of its credit-scoring model.
Ally is launching an online auto finance marketplace that connects lenders and consumers.
Wells Fargo named Laura Schupbach, leader of the company's insurance business, to be the bank's head of dealer services. She succeeds Dawn Martin Harp, who retired April 1.
Idaho retailer Chalfant and Edmark Auto are suing Zurich for misrepresenting and mismanaging a charge-back program and then billing them for the resulting $230,000 deficit. Zurich plans to defend the matter “vigorously.
F&I managers encourage customers to buy a service contract, not a “warranty,” but does the sales team?
It's a good time to buy dealerships, says Brian Bates, CEO of Holman Consumer Services. Holman Automotive acquired the 14-rooftop Kuni Automotive in July.
The Consumer Financial Protection Bureau fined Experian $3 million for deceiving consumers about the nature and use of the credit scores it presented to consumers.
Sage Automotive Group and its owners settled federal charges last week that the group used deceptive and unfair sales and financing practices.
It's important to remember that each consumer's priorities are different when it comes to the F&I process.
Credit unions on CU Direct's auto lending network as a group were the second-largest auto financing source in 2016, CU Direct said.
Sage Automotive and its owners agreed to settle federal charges that the dealership group used deceptive and unfair sales and financing practices.
Electronic contracting has become increasingly prevalent in auto retail, but it still has room to improve, especially as an enabler to the fully online vehicle transaction.
Soft credit pulls can help consumers do more of the car-buying process, including F&I, online. But dealerships need to be aware to stay in compliance with the laws.
As the auto industry prepares for the advent of the fully online transaction, there is a specific set of challenges in the F&I arena.
AutoGravity and Black Book have teamed up to offer consumers and dealers a trade-in value tool through AutoGravity's mobile app and web platform. The tool went live on Tuesday.
While leasing continues to drive new-vehicle sales, it's growing at a slower rate than in recent years. Edmunds expects lease penetration to decline to 30 percent overall in 2017, from a record high 32 percent in 2016.
Lenders are trying to determine the impact of technology throughout the car buying, financing and ownership process and how it will affect their business.
The average loan amounts for new and used vehicles rose in the fourth quarter, but consumers kept monthly payments low with long loan terms and leasing, Experian Automotive reported.
The percentage of auto loans delinquent 30 or more days rose slightly in the fourth quarter, Moody's Analytics said, adding that it's not cause for alarm.
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