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Finance and Insurance News
VW Credit, Citizens One Auto Finance, top J.D. Power dealer study of financing appeal

J.D. Power's latest U.S. Dealer Financing Satisfaction study found experienced and empowered credit and sales personnel at lenders are becoming key to the success of an automotive finance operation. Volkswagen Credit repeated as top mass-market captive in the annual study.


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A used-vehicle retailer taps data to aid subprime consumers

Franchised retailers considering bringing auto insurance in-house should take note of those using data to keep offerings affordable.


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Lenders ease loan access to low-prime, subprime borrowers in Q2, N.Y. Fed says

Originations rose 1.6 percent from a year earlier for customers with credit scores below 620, and 4.3 percent for those with credit scores of 620 to 659.


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Lithia, Asbury focus on finance options

Public dealership group Lithia Motors relies on specialized finance agents to help customers stay in the market, while rival Asbury Automotive launched an online loan marketplace to expand customer finance offerings.


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Online F&I product sales help Volvo fix 'glaring' problem

Volvo Cars Financial Services has partnered with F&I software company Darwin to raise subpar per-vehicle profits.


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Subprime military lender shuts down

Security National Automotive Acceptance Co. began informing employees and auto dealers last week that it would discontinue purchasing auto contracts and liquidate its portfolio.


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GM Financial revenue rises on increased penetration of GM business

CEO Dan Berce credited the automaker's support and a mutual plan to grow the portfolio.


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Auto lenders cut interest rates on new-vehicle loans

The reduction occurred at a good time for auto dealers, an Edmunds analyst says, as they need help clearing out an unusually high level of 2018 models still on lots.


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MaximTrak co-founder steps down 3 years after sale to RouteOne

Jim Maxim remained president of F&I sales tool provider MaximTrak since selling the company in 2016. He's now stepping down and being replaced by Imran Mussani, vice president for product development and support operations, as MaximTrak and parent RouteOne continue to unite.


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Auto scams at dealerships top-cited consumer gripe in 2018

In the Consumer Federation of America's annual report, some of the most egregious treatment occurred inside the F&I office.


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