Finance & Insurance

Vehicle sales took a dive in the early weeks of the deadly coronavirus outbreak, but for several finance and insurance product companies, sales have never been better. And each month, those sales keep improving. The reason could be a combination of factors, those companies say, but success incorporating F&I product …

While the coronavirus pandemic is shifting consumer credit metrics and disrupting marketplace trends, credit and automotive finance experts say lenders are adapting to the changing environment. Lenders have more tools at their disposal for guidance and clarity than they did during the 2008 financial crisis, such as employment verification instruments …

Data sets that auto lenders typically use to determine who is creditworthy have been upended by the fallout of the coronavirus, consumer credit experts say. As a result, lenders concerned with loan losses and fraud have clamped down on access for customers they believe pose more risk to their business. …

Finance-and-insurance product opportunities after a vehicle sale are growing amid the coronavirus pandemic, according to a dealership consultant and marketing company that helps with these sales after the fact. Though this market has been growing for years, dealerships should consider these opportunities now more than ever. Some dealerships are working …

Used-vehicle down payments are the highest they have been since Edmunds started collecting data in 2007. Unique market conditions have led to lower interest rates, bigger down payments, less negative equity and increased cross-shopping of used vehicles, according to a statement from the company. The data shows that the average …

The coronavirus pandemic is far from over. And as some elements of the federal stimulus program — such as additional unemployment funds and financial hardship protections — that have helped keep the U.S. economy afloat come to a close, captive automotive lenders can expect more challenges ahead. One potential area …

McLaren North America is making a change to its retail operations. The British exotic automaker said that as of Tuesday it had terminated its leasing business relationship with Ally Financial. “After more than four years of successfully growing this aspect of the business together, McLaren has elected to explore other …

Even as a pandemic severely impacted scores of its stores, Volkswagen set an all-time certified pre-owned sales record in May. The brand’s long-struggling U.S. dealers racked up 11,087 CPO sales for the month, thanks in large part to a reconfigured warranty offering and a program from Volkswagen Credit for 0 …

Thomas Higgins, the incoming director of compliance at the Greater New York Automobile Dealers Association, acknowledges this is a strange time to switch careers. Higgins spent nine years at the New York State Department of Motor Vehicles, most recently as deputy commissioner of compliance. During his tenure, Higgins was in …