Tag Archives: F&I

EFG Companies: F&I Industry Faces Murky 2017

EFG Companies executives believe regulatory rollback, plateauing sales, rising interest rates, and the push to change the in-dealership experience clouds the F&I industry’s future.

Source:  http://www.fi-magazine.com/news/story/2017/01/efg-companies-f-i-industry-faces-murky-future.aspx

F&I e-Rating & e-Contracting Provider, Over The Edge, Inc., Partners With Compliance Expert

OTE recently announced its partnership with Keith Whann, a national compliance expert and attorney.  Whann will help dealers, agents and TPAs navigate the regulatory environment while they sell and manage their own programs using OTE’S TechAssured system.

Source:  http://www.fi-magazine.com/news/story/2016/09/new-f-i-e-rating-e-contracting-provider-partners-with-compliance-expert.aspx

Over The Edge (OTE) offers a full suite of services including software development, design, branding, cloud services and administration consulting related to the automotive industry.

IAS Appoints New President and CEO

Leading Finance & Insurance provider IAS announced the appointment of Patrick Brown as president and CEO.  He succeeds Bob Corbin, who was named executive chairman.

Source:  http://www.fi-magazine.com/news/story/2016/09/ias-appoints-new-president-and-ceo.aspx

According to a recent study – Consumers want to learn about F&I products sooner

A new study by Cox Automotive suggests that educating consumers on F&I products before they enter the dealership may lead to more F&I sales…

Full Article:  http://www.autonews.com/article/20160727/FINANCE_AND_INSURANCE/307209998/consumers-want-to-learn-about-f%26i-products-sooner-study-finds

CFPB accuses some lenders of deceptive GAP, payment deferral ads

The CFPB’s Summer Supervisory Highlights report says one or more lenders are deceptive in their advertisements for GAP coverage and disclosures of payment deferral terms.

Full Article:  http://www.autonews.com/apps/pbcs.dll/article?AID=/20160706/FINANCE_AND_INSURANCE/160709943/cfpb-accuses-some-lenders-of-deceptive-gap-payment-deferral-ads

F&I strategies for slow-growth days

F&I profit likely hasn’t reached its peak, insiders say, but most agree that its growth will slow. To maintain strong F&I revenue, dealerships should ensure that they offer the right product mix, thoroughly understand the products and the…

Full Article:  http://www.autonews.com/article/20160622/FINANCE_AND_INSURANCE/306229994/fi-strategies-for-slow-growth-days

Lithia Motors 3rd Quarter Saw F&I Growth

October 30, 2014 – Lithia Motors, Inc. reported the highest third quarter adjusted net income in Company history.  F&I per vehicle was $1,202 compared to $1,105 last year. Lithia reported on its earnings call that of the vehicles they sold in the quarter they sold a service contract on 43% and sold lifetime oil product on 36%.

Full Release:  http://www.b2i.us/profiles/investor/NewsPDF.asp?b=2051&ID=73367&m=rl&g=128

Earnings Call Transcript from Seeking Alpha:  http://seekingalpha.com/article/2619625-lithia-motors-lad-ceo-bryan-deboer-on-q3-2014-results-earnings-call-transcript