Automotive Finance Archives

Work-life balance in F&I: It’s easier than you think

Saturday morning post: Work-Life balance? In a dealership? Not a chance… F&I managers often have the distinction of being the first to show up and the last to leave. If there is a potential buyer with a pulse, there could...

March 20, 2021

Auto Industry Message To New-Car Shoppers With Subprime Credit: Forget It

Automotive Finance Automotive Lending Consumer Credit Non-Prime Financing

Auto Industry Message To New-Car Shoppers With Subprime Credit: Forget It

Article from Jim Henry below. I don’t have the same opinion. Multiple OEMs already offer subvented rates to shoppers with subprime credit. I’ve been working on non-prime financing for over a decade now and there are multiple options for this...

February 28, 2021

Two reasons it may work for the sales consultant to handle F&I too

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Two reasons it may work for the sales consultant to handle F&I too

In a recent article Kristine Cain talks about one-person car sales experience, where one salesperson shepherds the customer from a to z, including F&I. “Most F&I managers would say this is not beneficial and that they are skilled in not only high-margin...

February 16, 2021

CarGurus unveils pre-qualify program through Capital One, Westlake & GLS

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CarGurus unveils pre-qualify program through Capital One, Westlake & GLS

CarGurus announced a new feature that can enable shoppers to pre-qualify for financing as they search on CarGurus for their next vehicle; a program provided through CarGurus’ listing dealers that book paper through Capital One, Westlake Financial Services and Global Lending Services LLC Services. “Financing is...

January 29, 2021

Cox Automotive predicts ‘significant’ climb in repo volume

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Cox Automotive predicts ‘significant’ climb in repo volume

ATLANTA – Cox Automotive estimates that repossession volume will make a “significant” rise in 2021 compared to last year. According to data shared during Friday’s Cox Automotive Industry Insights 2021 presentation, repossession volume in 2020 softened to the lowest level in five...

January 15, 2021

Automotive Finance Automotive Lending Car Dealerships Latest News Non-Prime Financing

Axis’ senior credit facility rises to $100M

Congrats to Axis Auto Finance (Todd Hudson – Ilja Troitschanski) for their expansion of their funding capacity to $100 million! A $20 million boost I believe.Well done, keep it up! I guess Lucy (www.decisioning.it) will be pre-approving more consumers on dealers behalf 🙂 Press...

January 12, 2021

F&I best practices: Understanding 4 parts of the ‘new customer journey’

Automated Decisioning Automotive Finance Automotive Lending Car Dealerships Consumer Credit Credit Approvals Latest News Non-Prime Financing

F&I best practices: Understanding 4 parts of the ‘new customer journey’

WILKES-BARRE, Pa. – GWC Warranty recently posted an article online where they recently broke down the four components of what it called the “new customer journey.” GWC Warranty went so far as to say in a blog post that, “the days of...

January 4, 2021

Fairstone Financial on selling to non-prime customers can boost dealerships’ bottom line

Automated Decisioning Automotive Finance Automotive Lending Car Dealerships Consumer Credit Credit Approvals Latest News Non-Prime Financing

Fairstone Financial on selling to non-prime customers can boost dealerships’ bottom line

The traditional divide between prime and non-prime car buyers, and the dealerships that sell to them, is fading. Today, almost 30% of customers do not qualify for traditional bank or OEM financing1. This niche of non-prime buyers has been called...

January 2, 2021

Guide to tracking today’s virtual auto lending trends into 2021

Automated Decisioning Automotive Finance Automotive Lending Car Dealerships Consumer Credit Credit Approvals Latest News Non-Prime Financing

Guide to tracking today’s virtual auto lending trends into 2021

With 76% of consumers open to the idea of buying a vehicle 100% online, it is no surprise that lenders (and car manufacturers, dealers) will need to continue to position themselves to support digital transactions without letting compliance fall by...

January 1, 2021