Capital One Auto Finance Reports 1Q Profits
Leading subprime lender Capital One has released an encouraging first quarter report, noting profits across all the firm's national lending programs. The company's auto finance unit reported earnings of $71.4 million dollars in 1Q 2009.
MCCLEAN, Va. — Leading subprime lender Capital One has released an encouraging first quarter report, noting profits across all the firm's national lending programs. The company's auto finance unit reported earnings of $71.4 million dollars in 1Q 2009.
The firm bought $1.46 billion in auto finance contracts for 1.6 million customers in the quarter, a marked decrease from $2.44 billion over 1.7 million accounts year-over-year but only a slight drop-off from the previous quarter, in which the company originated just over $1.47 billion in auto finance loans.
As a result of seasonal performance, improving used-car values and "solid" returns from new loans, Capital One Auto Finance's delinquency and charge-off rates both enjoyed a decline in 1Q 2009. The company's net charge-off rate declined from 5.67 percent to 4.88 percent from the prior quarter, while its 30-day delinquency rate dropped 9.91 percent to 7.52 percent in the same period.
More F&I
How AI-Powered Coaching Is Transforming F&I Performance
See how AI-powered coaching can turn F&I customer conversations into actionable insights that support compliance, performance and profitability
Read More →
Sell Value, Build Trust
In this video, Trent White explains why selling on value, not fear, builds lasting customer trust, reduces cancellations, and drives long-term success.
Read More →
F&I Sales Give Dealers First-Half Lift
Product business shored up total profits to avoid an overall revenue tanking as product penetrations held steady, StoneEagle reported.
Read More →
Targeted Training Drives Results
Today’s technology, instead of threatening F&I managers, can actually make them better, according to an industry veteran who’s watched market setbacks roil the unprepared.
Read More →
Double the Change, Double the Chance
When an F&I manager gets a customer refusal, it’s a wise move to tweak more than one thing in the product offering.
Read More →
Just Do It
F&I managers need training, but instead of resisting application or expecting perfection, they should improve by simply acting on what they learn.
Read More →
Dealer Lender Preferences Revealed
When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.
Read More →
Leading with Purpose
In this video, Trent White explains how understanding your people’s 'why' is a key leadership responsibility of F&I professionals and how that mindset drives dealership engagement, trust and performance.
Read More →
Integrating Nontraditional F&I Products
The niche presents a strategic advantage for auto dealerships as they move to adapt to fast-changing consumer expectations in today’s market.
Read More →
Trust Is Personal
Technology, no matter how efficient, can’t replace what the human F&I manager can do, which is to bridge the divide between cyberspace and the in-store experience.
Read More →