Automotive Finance Archives

To help dealers face challenges, LGM reopens online learning platform

Social distancing guidelines are changing daily and are having an impact how dealers do business, said LGM vice president of dealer training, Nathalie Abdallah. She said that when the pandemic ends, that will change how businesses operate permanently. “Getting ahead of...

April 8, 2021

StoneEagle F&I hires St. John as senior vice president of business development

Automotive Finance F&I

StoneEagle F&I hires St. John as senior vice president of business development

On Wednesday, StoneEagle F&I the provider of F&I technology solutions welcomed Joe St. John as senior vice president of business development, bringing more than 20 years of experience across dealership development, management and operations, sales force development and digital transformation. “Joe brings an incredibly...

March 24, 2021

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

Automotive Finance HR

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

Automotive Finance Latest News

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

Automotive Finance Consumer Credit Digital Retailing

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

Automotive Finance Automotive Lending Latest News Repossessions

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