In its summer edition of Supervisory Highlights, the Consumer Financial Protection Bureau accused one or more finance sources of being deceptive in their advertisements of GAP and in the way they disclose payment deferral terms.
According to the report, the GAP advertisements gave the impression that the product fully covered the remaining balance of a consumer’s loan in the event of a total loss, when, according to the bureau, the products only covered the amounts below a certain loan-to-value ratio.
Bureau examiners

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Embracing Digital F&I

2016 will be another year of accelerated growth in the ongoing shift toward online retailing. Thousands of auto dealers are already taking advantage of this evolution in the car-buying experience, and thousands more are sure to follow this year.
Consumers can buy nearly everything online, from TVs to paper towels, an experience we call “shopping cart eCommerce.” And those expectations of convenience are translating to auto retail and finance experience as well. However, cars don’t fit in shopping carts and the

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Simplify Your F&I at Agent Summit

With a network of more than 110 aftermarket providers, F&I Express® offers you the complete digital solution for F&I product sales.
Understanding that general agents are a critical extension of most F&I technology and product providers – acting as both sales representatives and dealer consultants – we are excited to announce F&I Express is a leading sponsor at the 2016 Agent Summit.
We are dedicated to leading the aftermarket industry into the digital age with innovative technology solutions that cut costs and

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Automotive Industry Trends for 2016

Executives and thought leaders from the F&I product and administration industry share their predictions for the year ahead.
There was a time when a healthy economy and correspondingly strong sales would be all a dealer (or product provider) needed to feel secure about the future of their business. But the automotive industry is changing around them, and the driving forces behind those changes can be distilled into two categories: compliance and technology.

Compliance

The main regulator on our experts’ minds is the Consumer

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Embracing Digital F&I : Improve the Car Buying Experience

2016 will be another year of accelerated growth in the ongoing shift toward online retailing. Thousands of auto dealers are already taking advantage of this evolution in the car-buying experience, and thousands more are sure to follow this year.
“Selling cars is a relationship business. It always has been and it always will be.”
Consumers can buy nearly everything online, from TVs to paper towels, an experience we call “shopping cart eCommerce.” And those expectations of convenience are translating to auto retail

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By Brian Reed, President & CEO of F&I Express
In the early 2000’s, new technology and an innovative process was introduced in the automotive market place – The F&I Sales Menu. The Sales Menu was initially met with a fair degree of skepticism by dealerships, but today menu selling process is accepted as the most effective way to sell F&I products. Also from a regulatory perspective, menus are also perceived to be the most compliant because they can offer every product

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Consumers, Videos, & the Car-Shopping Process

The 2015 Autotrader Consumer Video Research Study found that 65% of consumers consider vehicle videos to be an important part of their car-shopping process.
Download this information sheet to learn what types of video content shoppers find most helpful, and the ideal video length.

Compliance in the Financing of Ancillary Products

Featured in SubPrime Auto Finance News, F&I Express Executive Vice President, Rich Apicella, answers questions regarding compliance in the financing of ancillary products.
What’s your assessment of how federal regulators view the presentation and sale of ancillary products during the F&I process nowadays?
It’s no secret that the CFPB is scrutinizing the U.S. auto finance industry. Now that they’ve made their position on finance reserve clear, regulators have their sights fixed on ancillary products, and have taken action against several finance sources over ancillary product

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2015 Subprime Forum Review by Rich Apicella

Every year in November, the automotive industry convenes for Used Car Week. It was great to see the National Automotive Finance Association team up with the Subprime Auto Finance News, bringing together the leading trade associations for the non-prime auto finance market.  The NAF Association provides educational programs for finance company compliance officers, key stakeholders involved in compliance, and is the only trade association exclusively serving the non-prime auto financing industry.
The content this year at the Subprime Forum was particularly noteworthy, ranging from the impact of Millennials on

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Compliance, Menu, and Digital Solutions

2015 has been a great year for the F&I industry. New products have been launched, partnerships expanded between companies, and informative studies from automotive industry experts have been applauded for their direction to the online experience. We at F&I Express have had a banner year, and there is still so much more to come!
Our F&I aftermarket provider network grew exponentially in the first half of the year. Bringing on partnerships with Maximus Auto Group, Service Payment Plan,

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