GAP rates are on the rise. Insiders say dealers should welcome the increases, adding that the performance of this core F&I product points to a severe slowdown in the next 24 months.
CNA National Warranty Corp. (CNAN) returned more than $40 million to automobile dealers across the U.S. through its various participation plans for 2016, the company announced this week.
In its recent Supervisory Highlights report, the CFPB accused ‘one or more’ auto finance sources of being deceptive in their advertisements of GAP and in the way they disclose payment deferral terms.
The Turks and Caicos Islands Financial Services Commission met last week with 20 leading reinsurance experts to elicit their views on proposed improvements to the islands’ regulatory regime and to explore how TCI may remain the domicile of choice of producer affiliated reinsurance companies.
American Credit Acceptance and Westlake Financial Services have agreed to pay $7.4 million to Massachusetts consumers to settle the state regulator's charges that they charged excessive interest rates on subprime loans.
A U.S. district judge has allowed an African-American woman to pursue claims of discrimination against Texas-based Santander Consumer USA, but the finance source was successful in getting other claims contained in the borrower’s class action suit dismissed.
An F&I manager says his customers' buying and ownership habits are making it difficult to sell GAP and service contracts. The magazine's resident F&I pro has the answer.
Cox Automotive announced today it has acquired a minority interest in F&I product provider SilverRock Holdings LLC. Officials said the products will be sold through dealers affiliated with Go Financial and NextGear Capital.
Too many dealers, F&I managers, agents and even providers think of GAP as a one-size-fits-all product. Product expert explains why that’s not the case.
Rob Berger, executive vice president at Wise F&I, was elected as president of the Guaranteed Asset Protection Alliance (GAPA).
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