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TD Auto Finance moves down credit tiers as others move up

One-time superprime specialist TD Auto Finance is increasing its portfolio by expanding its prime and near-prime loan segments and originating more used-vehicle loans.


Short-circuiting customer disputes

Mishandling customer disputes can cost dealerships more in negative word-of-mouth than the disputed item is worth.

BLOG: HANNAH LUTZ

Should dealerships go back to the basics for best F&I results?

Whether it's a customized presentation, a digital menu or online F&I product intros, many F&I companies have suggested an adjusted approach for today's consumer.



Santander checked income on just 8% of subprime auto borrowers for bond issue

Santander verified income on just 8 percent of borrowers whose loans it recently bundled into $1 billion of bonds, according to Moody's Investors Service.

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Short-circuiting customer disputes

Mishandling customer disputes can cost dealerships more in negative word-of-mouth than the disputed item is worth. Here's how some dealers work to ensure that at their stores, the customer is always right.


How vehicle data could help drive F&I sales

In the future, vehicles will send data to dealerships and F&I product vendors directly, helping them to determine which products car owners need and when, industry insiders predict.


APR hits marker not seen since 2010

The average interest rate on a new-vehicle loan in April topped 5 percent, marking the first time since 2010 that the average U.S. interest rate has exceeded that level for two straight months. Rising interest rates could hurt U.S. new-vehicle sales, Edmunds says.


Ford Credit staffers spared from cuts

Ford Motor Co. plans to cut 10 percent of its salaried ranks in North America and Asia to cut costs amid slowing U.S. sales and growing outlays for new technology, but 7,300 workers at Ford Motor Credit Co. will keep their jobs.


Auto lenders unite to fight fraud

Major lenders, representing more than a third of U.S. auto loan originations, have begun to share internal auto lending data and experiences to combat fraud. Ninety percent of the lenders say fraud is a growing concern.


Online intros could draw Gen Y to F&I products

Millennials are more cost-conscious than Gen Xers or baby boomers, according to a Cox Automotive study, but transparency and online F&I product introductions could sway them to open their wallets for add-ons.


Toyota Financial growing -- and moving

Toyota Financial Services is issuing more contracts for protection products than financing as it tries to both extend its lead as the nation's top auto lender and complete its move to Plano, Texas.


Public dealership groups improve Q1 F&I results

Five of the six public new-vehicle retailers improved their F&I performance in the first quarter. Among the reasons cited for the gains: acquisitions, F&I product sales and working more closely with the sales team.

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