The auto finance industry originated nine million auto loans through the first four months of year, totaling $182.9 billion. Equifax said these were the highest levels for this time of year since it began tracking auto finance data.
A manager for a New York-based dealer group explains why the right lender mix is becoming an increasingly blurred variable for dealerships and their F&I offices.
The group’s chief executive reiterated his support for Honda Financial’s new dealer markup caps. He said the policy should serve as a template for the rest of the auto finance industry.
According to proposed consent orders obtained by American Banker, Honda, Nissan and Toyota’s captive finance companies could soon be on the hook for dealer participation policies.
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.
Dealers would do well in aligning F&I pay plans with their objectives. But as the magazine’s newest contributor explains, adding another wrinkle to F&I pay plans may not be the best thing.
Volvo Cars of North America announced the establishment of Volvo Car Financial Services, which will begin providing financial services products to Volvo retailers in all 50 states later this year.
The magazine’s reader survey reveals that average profit per new vehicle retailed still hovers around $800, and that F&I managers are averaging approximately two products per deal.
Ford Motor Credit Company announced the launch of Lincoln Automotive Financial Services (LAFS), a new captive established to serve Lincoln customers.
GM Financial will become a player in the commercial lending segment by the end of the first quarter 2012, according to statements made yesterday by the company’s president and CEO, Dan Berce.
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