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F&I Office

Safe-Guard Canada Announces New Montreal Training Facility

ATLANTA — Safe-Guard Canada today announced the opening of a new training facility located just outside of Montreal to better service Quebec clients and their dealers. The new location will allow Safe-Guard to broaden retail training and development support for dealers within Safe-Guard’s client roster, including BMW Canada, Harley-Davidson Financial Services, Honda Financial Services, Mercedes-Benz ... Read More »

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Credit Tightening at Wells Fargo to Continue Into 2018

SAN FRANCISCO — In 2009, the year before Wachovia Dealer Services officially became Wells Fargo Dealer Services, the finance source was listed as the No. 1 subprime auto lender by market share. It also held the largest share in the used-vehicle financing segment. Times have changed. During the bank’s second-quarter earnings call on July 14, ... Read More »

Innovative Lending Releases Loan Management Tool for F&I Offices

CHICAGO — Innovative Lending Solutions LLC announced the release of Stip Trac, an automotive loan management system designed to help dealers track cash flow, collecting necessary loan documents, or stips, and keeping an open communication line with car buyers before and after their purchase. Stip Trac features a dashboard that allows users to track cash owed ... Read More »

South Dakota Voters Approve 36% APR Cap on Short-Term Loans

SIOUX FALL, S.D. — Voters there approved an initiated measure aimed at capping interest rates on short-term loans in the state. Included in the cap are all charges for ancillary products and any other fees included in the extension of credit. Initiated Measure 21, which was passed last Tuesday by 75.6% of voters, places a ... Read More »

Ford Credit Now Offering 84-Month Financing

DEARBORN, Mich. — In a dealer bulletin obtained by F&I and Showroom magazine, Ford Motor Credit announced the availability of 84-month financing on new retail and subvented rate contracts. The 84-month program, which allows for maximum interest rate markup of 100 basis points on standard contracts, is only available to car buyers with FICO scores at and ... Read More »

The Consumer Financial Protection Bureau’s Encroachment Into the F&I World
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