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Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
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Credit unions are competing aggressively in the automotive marketplace, financing one in four auto loans so far in 2015, CU Direct reports.
Read More →Ally Financial and Mitsubishi Motors North America have announced that Ally will become the preferred financing source for Mitsubishi Motors in the United States, replacing the brand's captive finance company.
Read More →Lithia’s F&I operations grew its per-copy average by $52. The performance helped offset a $90 drop in new-vehicle gross profit per unit.
Read More →A new study from Cox Automotive company MakeMyDeal found that 63% of consumers would be more likely to buy F&I products if they could learn about them on their own time before entering a dealership.
Read More →For the first time, the public dealer group’s F&I profit per deal average surpassed the $1,500 mark. Officials said the company will continue to emphasize F&I product sales as it preps for the launch of an AutoNation-branded maintenance contract later this year.
Read More →The tablet-driven, fixed-price F&I process at Asbury’s Q Auto stores didn’t perform as well as the traditional F&I process employed at the group's core stores, but officials said they are happy with the new format’s progress.
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Security National Automotive Acceptance Company has added three senior-level leaders and five new team members.
Read More →The country’s largest auto lender, Wells Fargo, tempered its auto lending activities in 2015’s first quarter, with new originations down 10% from the previous year. Also reporting was J.P. Morgan Chase, which increased originations by 9%.
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Black Book has selected Barrett Teague to serve as vice president of its Lender Solutions business.
Read More →Depreciation patterns are on a different trajectory than 2014, according to Black Book. The firm reported a 0.7% decrease in value for 2009-2013 model-year vehicles.
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