Finance & Insurance

To reduce the risk that the coronavirus will trigger a recession, analysts are predicting the benchmark interest rate -- which directly impacts auto finance interest rates -- will drop to zero.

In response to coronavirus fears, Hyundai is resurrecting a protection program for consumers who get laid off. The company is offering to make up to six months of payments for customers who buy or lease a new vehicle through its captive financing arm over the next six weeks.

F&I product and reinsurance provider Portfolio Holdings has agreed to acquire competitor National Automotive Experts/NWAN. Together, the company will rank among the top 10 largest F&I product providers in the nation, executives said.

Flagship Credit Acceptance faces a setback in an ongoing class action over robocalls placed to more than 300,000 consumers.

One of the nation's leading finance and insurance product providers plans to grow market share this year with the resources it already has, automating processes to relieve menial tasks from employees and focus on its call center.

F&I managers and trainers say some lenders still aren't funding guaranteed asset protection products, while some finance managers and others erroneously believe the entire MLA has been overturned.