When one of his employees' siblings tested positive for coronavirus, the chairman of a Michigan Ford dealership acted quickly, shuttering the store for two weeks and switching commissioned workers to a daily pay rate. 

In a time of crisis, an F&I training expert says the best antidote to powerlessness, fear and uncertainty is to be proactive.

Captive lenders and auto-heavy banks have quickly mobilized to stave off the growing risk that retailers and their customers may have trouble paying their bills in the coming months.

Automaker captives are leveraging payment deferral to aid consumers impacted by the coronavirus and sell vehicles to concerned buyers. Historically, financial assistance breeds consumer loyalty — but will it be enough to move metal?

Ford Motor Credit, Nissan Motor Acceptance and Toyota Financial Services are among the finance arms offering malleable payment and repayment programs, with larger lenders Wells Fargo Auto and Ally Financial following suit. GM is offering 0 percent interest on 84-month loans and 120-day deferred payments on new-vehicle purchases.

F&I product and reinsurance provider Portfolio Holdings has agreed to acquire competitor National Automotive Experts/NWAN. Together, the company will rank among the top 10 largest F&I product providers in the nation, executives said.

F&I managers and trainers say some lenders still aren't funding guaranteed asset protection products, while some finance managers and others erroneously believe the entire MLA has been overturned.

Perhaps the most challenging aspect of creating a digital automotive retail experience is incorporating F&I products online.

Financial technology companies entered the U.S. auto finance market to disrupt it. Today, the most successful ones collaborate with the very industry chieftains they sought to overthrow.

Executives at public dealership groups warn that shifting focus to used-car volume may adversely impact F&I opportunities, even as used-vehicle deliveries and F&I profits climb in tandem.