Finance & Insurance

NextGear opens to franchise dealers

12:01 am U.S. ET | Dec. 22, 2014
NextGear Capital, a sibling to auction giant Manheim, now is offering loans to finance franchise dealerships' new- and used-vehicle inventory....
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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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Ally's six-year bailout ends after U.S. sells $1.28 billion stake

7:48 pm U.S. ET | Dec. 18, 2014
The Treasury disposed of its remaining $1.28 billion stake in auto lender Ally Financial, resolving the last big bailout from an emergency government program to halt the 2008 financial crisis. Ally said the government ultimately gained $2.4 billion from its investment....
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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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LINDSAY CHAPPELL

Dealer missteps do not a lender meltdown make

12:01 am U.S. ET | Dec. 6, 2014
It shouldn't surprise anybody if heightened regulatory scrutiny on car lending reveals some transactions where a dealership has disregarded the rules on loan paperwork. But it's a mistake to jump from that reality to any suggestion that there is something rotten in the structure of the vehicle lending industry....
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JIM HENRY

Auto finance benefits from looser purse strings

12:01 am U.S. ET | Dec. 3, 2014
U.S. households have closed the book on a “deleveraging period,” the government's fancy way of saying households have quit spending less and saving more. And that's good news for auto financing....
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JIM HENRY

Military ends paycheck deductions for car loans

12:01 am U.S. ET | Nov. 26, 2014
The Department of Defense last week made it impossible for service members to use the reliable but old-fashioned military allotment system to make auto loan payments -- a small-scale example of a couple of bad apples in auto lending ruining things for everyone else....
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U.S. auto loan originations at highest level in 9 years, N.Y. Fed says

6:14 pm U.S. ET | Nov. 25, 2014
Americans took out the most auto loans in nine years during the third quarter, according to the Federal Reserve Bank of New York's quarterly Household Debt and Credit Report....
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ARLENA SAWYERS

Popping the subprime bubble myth

12:01 am U.S. ET | Nov. 19, 2014
There is no subprime auto loan bubble, darn it. That message came through loud and clear in session after session during the recent Used Car Week conference sponsored in Las Vegas....
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JIM HENRY

Free advice for consumers can be worth the price

12:01 am U.S. ET | Nov. 19, 2014
There’s a bright spot for dealerships that do a lot of business with automakers’ captive finance companies and preferred lenders, data on the website Wallet Hub show: Car manufacturers (that is, captives) charge the lowest auto loan rates for new cars, at 40 percent below average....
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Land Rover, Toyota top ALG's Residual Value Awards

8:15 am U.S. ET | Nov. 17, 2014
Land Rover and Toyota earned top brand honors for vehicles predicted to hold their value over the next three years, in the ALG Residual Value Awards released today....
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HOW'S MY DRIVING?

Dashboard data shifting the car insurance model and changing ownership math

12:01 am U.S. ET | Nov. 17, 2014
As dashboard data make it easier to determine how people are driving, and how much, insurers are moving toward a usage-based insurance model that could upend the cost-benefit analysis of car ownership....
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JIM HENRY

‘Disparate impact’ opposition sees hope

12:01 am U.S. ET | Nov. 12, 2014
Hope remains among opponents of the “disparate impact” theory that the U.S. Supreme Court could ultimately rule against the theory in court, maybe in 2015....
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LARRY P. VELLEQUETTE

Looking for a new F&I product? Mull this

12:01 am U.S. ET | Nov. 5, 2014
Consider this a free idea -- the kind that hopefully somebody out there takes and develops and uses to make a lot of money....
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JIM HENRY

SEC joins pile of regulators probing subprime loan securitization

12:01 am U.S. ET | Nov. 5, 2014
It appears that when it comes to investigating the securitization of subprime auto loans, the bigger the mountain of regulators, the better....
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JIM HENRY

The story behind that list of dealership slang

12:01 am U.S. ET | Oct. 29, 2014
F&I managers -- mostly appalled, but at least partly amused -- recently passed around online a link to a “Car Dealer Dictionary” of dealership slang, including terms that are supposedly in use in F&I departments....
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Tesla offers leasing options for new Model S in U.S.

6:49 am U.S. ET | Oct. 27, 2014
Tesla Motors unveiled a leasing policy for its new Model S with an option for buyers in the United States to return the car within three months of purchase....
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M-B captive hikes online sales of off-lease cars

12:01 am U.S. ET | Oct. 27, 2014
An enhancement to Mercedes-Benz Financial Services' 24/7 online remarketing tool has helped the captive finance company boost online sales of off-lease vehicles to dealers....
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GM Financial faces government, state probes over subprime loans, securities

5:49 pm U.S. ET | Oct. 23, 2014
GM Financial disclosed Thursday it is being investigated by “state attorneys general and other governmental offices” in connection with subprime auto loans and the sale of subprime auto loans in the form of asset-backed securities....
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JIM HENRY

Subprime is no runaway train

12:01 am U.S. ET | Oct. 8, 2014
There it goes again, as Ronald Reagan might have said. The New York Times is still hammering a theme that subprime auto loans will endanger the U.S. economy in the way that subprime mortgages helped bring about the Great Recession....
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Sonic to launch captive -- in a few years

12:01 am U.S. ET | Oct. 6, 2014
Sonic Automotive plans to launch a captive finance arm, but the startup date is at least four years away....
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Test offers off-lease Toyotas

12:01 am U.S. ET | Oct. 6, 2014
Toyota Financial Services is testing a program that offers off-lease vehicles for sale to dealers outside its franchise network while the vehicles are still sitting on the lots of Toyota and Lexus dealers that accepted the vehicles....
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EDWARD NIEDERMEYER

Dissecting what it means when Buffett grabs the wheel

11:27 am U.S. ET | Oct. 4, 2014
Wherever Warren Buffett goes, investors follow. But for anyone who thinks now is the best time to buy into car dealerships, a quick reality check may be in order....
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Canadian dealer buries a Jeep, hires an ambassador and puts on the Ritz

Canadian dealer buries a Jeep, hires an ambassador and puts on the Ritz

At Bay King Chrysler, Dodge, Jeep, Ram in Hamilton, Ontario, dealer Jamie Richter has put luxury-hotel touches in his new showroom. They include concierges who see to the needs of service customers. Mon., December 15
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