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Finance and Insurance News
Ally continues to expand used-vehicle portfolio

Ally Financial's first-quarter used-vehicle originations made up more than half of its auto portfolio for the fifth-straight quarter. Total auto originations dipped, driven by a decline in new-vehicle originations.

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Stipulation capture tool aims to smooth approval process

Streamlining the financing process at a dealership doesn't always take a complete overhaul. Sometimes a small enhancement can smooth and accelerate the process.

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Indiana dealership group sued in class action over document fees

Andy Mohr Automotive Group, an 11-rooftop Indiana dealership group, is facing a class-action lawsuit after customers say they were charged an illegal document preparation fee. It is the second such lawsuit filed this month against dealerships in the state, and legislation is already in the works to legalize fees under $200.

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F&I product landscape for EVs is sparse

F&I product providers have long watched and waited for the electric vehicle revolution to impact customers, but for now, few providers are responding with electric-exclusive offerings.

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Exeter to settle 'unfair loans' for $6 million

Subprime auto lender Exeter Finance has agreed to pay more than $6 million dollars to harmed borrowers and the states of Delaware and Massachusetts in settlements announced last week.


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Exeter Finance to pay $6 million for financing 'unfair' auto loans

Subprime auto lender Exeter Finance agreed to pay a combined $6 million in Massachusetts and Delaware for financing auto loans that the lender knew or should have known were unfair. Both states say the loans violated state law.


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F&I profits hold steady for dealers

Dealers face tightening margins, declining new-vehicle sales and even operating losses, but despite those headwinds, F&I held steady as a dealership profit center last year, according to the 2018 NADA Data report.

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Make it clear: Third-party shopping sites are free

A large portion of car buyers would turn to third-party lead generators during their next vehicle purchase, but they aren't using the online tools because they think they have to pay for them.

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Incentives: Rubik's Cubes for retailers

The fluctuation of incentives and rebates makes it difficult -- but important -- for dealers and finance managers to have accurate data.


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Where do I e-sign?

E-contracting's next step — remote and e-signing, where customers handle contracts and signatures outside of a dealership — has more hurdles to overcome.

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