Look for who will - and won't - be at NADA As a shakeout in F&I providers intensified, the spotlight at the NADA Convention Feb. 3-6 in Las Vegas is shifting to the 34 F&I exhibitors at the annual exposition.
In early December, GE Capital Auto Financial Services stopped taking credit applications; the debis Affinity Services Division of DaimlerChrysler Services folded; National City Bank exited the leasing business, and Coast-to-Coast Auto Lending abandoned the subprime sector.
The GE and debis actions were especially surprising, as both are well-heeled and occupy high spots on many dealer provider lists.
GE remains very involved in extended service agreements and warranty coverage.
debis Affinity, one of whose main users was the 41-dealer megagroup V.T., Inc., covered non-Mercedes-Benz and non-Chrysler Group brands for DaimlerChrysler Services.
The December storm of bad news, however, did not detract from the NADA exposition plans of captive and non-captive survivors.
Five captive companies have again mounted big displays. They are DaimlerChrysler Services; Ford Credit and its subsidiaries Fairlane Credit and Primus Financial Services; GMAC and its subsidiary Nuvell Services; Toyota Credit, and Volkswagen Credit.
Independent financing companies and service-contract providers at the exposition include:
American Financial & Auto Services, Capital One, First Extended Services, Heritage Warrant Insurance, Household Auto Finance, Interstate National Dealer Services, JM&A Group/World Omni, Monumental Credit Insurance Group, Resource Group, Universal Underwriters and Warrantech.
Three banks are exhibiting - Bank of America, Bank One and Chase Automotive Finance.
The list of separate subprime lenders includes AmeriCredit, Mercury Finance, National Auto Finance, Triad Financial (a division of Ford Credit) and WFS Financial.
A dot-com exclusively in the F&I field, I Auto Mortgage.com, is exhibiting for the first time.
A special NADA workshop track devoted to F&I and sales management is scheduled again.