Dallas, Texas – January 5, 2018:
StoneEagle is pleased to announce the appointment of Cindy Allen as the company’s new CEO. Cindy will be responsible for driving the company, and its innovative F&I solutions, to the next level, building on the momentum achieved by the StoneEagle team under Bobby Allen’s leadership.
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
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.
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.
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
Article about navigating the F&I sales process.
Article: https://www.nerdwallet.com/blog/loans/closing-deal-car-buyings-hidden-trap/
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…
Are dealers ready for regulators to examine F&I product sales?
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.
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
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