F&I results rise at 3 public retailers

12:01 am U.S. ET | April 23, 2014
The first publicly traded new-car dealership groups to report first quarter results -- AutoNation, Sonic Automotive and Asbury Automotive Group -- all reported higher average F&I revenue per vehicle, as part of a trend toward slow but steady improvement.... Read More »
 
Q&A

Mopar's F&I sales could spark 'almost 6 million' service visits

12:01 am U.S. ET | April 23, 2014
Mopar’s F&I product volume last year reached 1.5 million contracts in the United States and nearly 2 million contracts worldwide. That’s significant, Mopar chief Pietro Gorlier says.
... Read More »

AutoNation envisions quick, easy buying at digital store

12:01 am U.S. ET | April 23, 2014
When AutoNation fully rolls out its so-called digital storefront, the following scenario may not be all that far-fetched.... Read More »

Ally IPO opens new options for subprime car loans

12:01 am U.S. ET | April 16, 2014
Ally Financial's initial public offering last week benefits dealers because Ally expects to be able to compete more aggressively for subprime business after it sheds government ownership.... Read More »

NADA's fixed-rate plan gets lawyers' backing

12:01 am U.S. ET | April 16, 2014
The National Automobile Dealers Association's program for dealerships to establish a fixed rate for dealer reserve was strongly endorsed by legal experts at the Automotive Resource Network conference in New York this week.... Read More »

Subprime lender adds markets, resists looser standards

12:01 am U.S. ET | April 16, 2014
Subprime auto lender Consumer Portfolio Services is resisting a trend among some of its rivals to push “too aggressively” to loosen credit standards, CEO Charles Bradley says.... Read More »

Chrysler Capital offers perks for dealers' loyalty

12:01 am U.S. ET | April 14, 2014
Chrysler Capital has launched a dealer-loyalty program that offers participants longer car loans and lower rates but requires them to get a quote from Chrysler Capital for every customer loan.... Read More »

Battered doorstop makes the pitch: Get wheel protection

12:01 am U.S. ET | April 14, 2014
Finance and insurance professionals say sales of tire-and-wheel protection policies were higher in the first few months of 2014 than they were in 2013 as motorists contended this year with roads ravaged by one of the coldest, snowiest and iciest winters on record.... Read More »

Negative equity ticks up

12:01 am U.S. ET | April 9, 2014
More car customers are upside down at trade-in time, owing more on the trade-in vehicle than it's worth. Carrying negative equity on a trade-in vehicle makes it tougher for consumers to finance a new car because they have to borrow extra funds to pay off their old loan.... Read More »

ABA: Auto loan delinquencies flat in 4th qtr.

12:01 am U.S. ET | April 9, 2014
Auto-loan delinquencies were essentially flat at a low level in the fourth quarter of 2013, edging down very slightly from the same period a year earlier, according to data released today in the American Bankers Association Consumer Delinquency Bulletin.... Read More »

CarMax ups F&I chargeback reserves, reflecting subprime growth

12:01 am U.S. ET | April 9, 2014
Public used-car specialist CarMax increased its reserves for chargebacks on extended service contracts and guaranteed asset protection policies in its latest fiscal quarter.... Read More »

RouteOne expects 2014 e-contract volume to double

12:01 am U.S. ET | April 9, 2014
RouteOne expects to more than double its electronic contract volume this year, to an estimated 1.6 million contracts, after more than tripling volume last year. The growth is coming from more lenders signing up as well as more volume from existing customers, RouteOne CEO Mike Jurecki says.... Read More »

Ally Financial IPO means freedom to make more auto loans, more risk

6:40 am U.S. ET | April 9, 2014
The Treasury Department has had Ally Financial in a regulatory headlock since its 2008 bailout. As the government sells shares in an initial public offering, Ally will soon breathe again -- and take on more risk.... Read More »

Dealerships, lenders bolster compliance staffs in face of CFPB crackdown

12:01 am U.S. ET | April 2, 2014
Auto lenders and dealerships are strengthening their compliance staffs as the Consumer Financial Protection Bureau cracks down on lending practices. Lenders are beefing up to monitor dealerships more closely and dealerships are gearing up to face the added scrutiny.... Read More »

Auto finance outlook is good for 2014, report says

12:01 am U.S. ET | April 2, 2014
The outlook for auto finance this year is “mildly less positive” relative to extraordinarily favorable conditions, according to analysts for NADA Used Car Guide.... Read More »

GM Financial, Ally swap corporate profiles

12:01 am U.S. ET | April 2, 2014
A new and much bigger GM Financial is emerging this year -- a global, mostly prime-risk auto lender that looks a lot like the old GMAC captive finance company.... Read More »

How a Texas Honda store honed a hybrid sales/F&I system

12:01 am U.S. ET | March 26, 2014
After four years of using a hybrid process for sales and F&I, First Texas Honda in Austin, Texas, has learned what works and what doesn’t. With the process, highly trained salespeople, dubbed Elite by the dealership, take customers through the entire sales and F&I process while less experienced sales employees hand off customers to an F&I manager.... Read More »

Chrysler Capital on track to hit first-year volume target

12:01 am U.S. ET | March 26, 2014
Chrysler Capital, the private-label preferred finance company for Chrysler Group, is on track to hit a first-year volume target May 1 that will enable it to renew its 10-year agreement with Chrysler.... Read More »

Warranty Group changes hands to another private equity firm

12:01 am U.S. ET | March 26, 2014
The Warranty Group, a provider of extended-service contracts, is moving from one private-equity owner to another. TPG of Fort Worth, Texas, has agreed to acquire The Warranty Group from Onex Corp of Toronto. TPG and Onex said the deal was worth about $1.5 billion and is expected to close in the third quarter.... Read More »

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