P&A Online

November 16, 2011

Welcome to P&A Online, a monthly eMagazine dedicated to the interests and concerns of providers and administrators of automotive finance and insurance products.

P&A Online is your source for industry news and updates as well as original feature articles to keep you well-informed of best practices and trends.

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Carrier and Administrator Relations – Best Practices

Recently I had the pleasure of moderating a session on best practices for carrier and administrator relations at the VSCAC conference in Las Vegas with representatives from both leading carriers and administrators. Before discussing the best practices of maintaining a fruitful relationship between these parties, let's briefly review the structure of the industry. An administrator ... Read More »

E-payments for VSC Claims: Making Payments Faster, Cheaper and More Efficient

Several factors are contributing to vast changes in the electronic payments landscape with the result that commercial business to business payment processes are working hard to catch up to consumer payments. These factors include technology improvements, broader regulatory acceptance and an increasing comfort with newer payment options such as mobile and prepaid. Among commercial business ... Read More »

Question From Our Readers on DMS Integration

We have often been asked by our readers to do an in-depth analysis on Dealer Management System (DMS) integration. We wanted to start out by asking Open Dealer Exchange how they view DMS integration. Below is their response. Next month we're going to hear from the others in the industry, so stay tuned. What type ... Read More »

Catching Up With Social Media

Agent Entrepreneur and P&A Magazine are now on Facebook and Twitter! This will be a great way for you to stay connected to the magazines. The odds of you not having a smartphone are slim, so our updates will be at your fingertips wherever you go. We will be posting articles and news updates on ... Read More »

Vets-Cars Group Creates VSC Program Specifically for Military Members

EAST HADDAM – The Vets-Cars® Group, a Veteran-owned business dedicated to providing the U.S. military community with a superior and respectful vehicle buying experience, announced the rollout of the Vets-Shield® Vehicle Service Contract Program of products designed specifically for the military community and their families. Developed by Vets for Vets, these top-tier exclusionary plans for ... Read More »

Ford Credit Launches Lincoln-Branded Captive

DEARBORN — Ford Motor Credit Company announced the launch of Lincoln Automotive Financial Services (LAFS), a new captive established to serve Lincoln customers. It will provide branded financing products provided by Ford Credit. "Lincoln Automotive Financial Services is the dedicated financing brand that complements the experience provided by Lincoln vehicles and our Lincoln dealerships," said ... Read More »

Payment Systems Group Acquires Ristken's Equity Driver

ST. LOUIS — Ristken Software Services announced that Payment Systems Group Inc. (PSG) has acquired its Equity Driver biweekly auto payment services division. "We are pleased to know that our customers, dealerships, and agents will be handled by the leading firm in Biweekly Payment Services and loan acceleration payment technology," said Patrick DeMarco, president of ... Read More »

American National Insurance Company-Credit Insurance Division and Family First Dealer Services Announce Strategic Partnership

JACKSONVILLE – American National Insurance Company-Credit Insurance Division (ANICO-CID) announced an agreement with Family First Dealer Services LLC (FFDS) to market and administrate its Guaranteed Auto Protection (GAP) Waiver program nationwide. "Over the past eight months ANICO-CID and FFDS have redesigned and updated what we believe to be one of the best GAP waiver programs ... Read More »

Ford Sues Exec Moving to Toyota Distributor

Ford Motor Co. is suing a former executive who was hired to become president of one of the nation’s largest Toyota distributors. Ford filed suit Nov. 10 against Martin E. Collins, an executive who was general sales manager for Ford and Lincoln at the company’s world headquarters in Dearborn. The lawsuit says he can’t take ... Read More »

Ford Says 68 Percent of U.S. Drivers Have Poor View of Its Mileage

Ford Motor Co. said 68 percent of U.S. consumers don't believe the automaker's cars and trucks are fuel efficient. "There are 240 million people driving vehicles in America and only 32 percent have a good opinion of Ford on fuel economy," Jim Farley, the company's global marketing chief, said today at the Barclays Capital 2011 ... Read More »

Hyundai Hopes Super Bowl Ads Boost Brand Image

DETROIT — Hyundai Motor Co. is hoping that five television spots before and during the Feb. 5 Super Bowl game will help to bolster its rising brand recognition and continue big sales gains from the past few years. North American CEO John Krafcik says the fast-growing brand is working on a 60-second spot that will ... Read More »

DealerTrack Credit Application Network Reaches Milestone of 1,111 Lender Connections on 11/11/11

LAKE SUCCESS – DealerTrack announced that the number of active lenders connected to its DealerTrack credit application network has surpassed 1,111 U.S. lenders. The DealerTrack credit application network allows dealers to electronically submit credit application data to the industry’s most diverse network of banks, independent finance companies, captives, and credit unions. The DealerTrack credit application ... Read More »

GM Recalls Some ’12 Cadillac CTS Over Braking Issue

General Motors Co. is recalling 674 2012 Cadillac CTS vehicles after it discovered some vehicles had improperly assembled components that could cause the loss of braking ability. GM said some vehicles have a power vacuum brake boost pushrod retention nut that was not properly tightened; the nut could loosen and allow the pushrod to separate ... Read More »

Swedish Automobile May Liquidate as Debt May Trump Saab, Spyker Sales Cash

Swedish Automobile NV, the Dutch owner of Saab Automobile, may liquidate even if it succeeds in selling the former General Motors Co. brand, as the proceeds may not be enough to pay off creditors. Swedish Automobile, which has tentative agreements to dispose of Saab as well as its Spyker sports-car business, will consider "all of ... Read More »

Romney: Chrysler, GM Should Have Filed for Bankruptcy First

WASHINGTON — Republican presidential candidate Mitt Romney defended his opposition of the $85 billion auto rescue by two presidents, saying he supported a “private sector bailout.” Romney, a Detroit native who grew up in southeast Michigan and is the son of a former CEO of American Motors, defended his stance that he insisted General Motors ... Read More »

G.M. Posts Quarterly Profit, but Chief Calls It Insufficient

DETROIT — General Motors reported its seventh consecutive quarterly profit on Wednesday but stressed the need for more cost cutting as profit margins declined. It also warned of a more difficult end to the year than Wall Street was anticipating. G.M. said its third-quarter profit fell 12 percent, to $1.73 billion, or $1.03 a share, ... Read More »