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June 8, 2017

Combating CUs

Top trainer tells an F&I pro from San Antonio to stop fighting credit unions and join them. He also reveals three reasons most CU members should choose dealership financing.

June 7, 2017

Subprime Auto Originations Fall to 10-Year Low

Reflecting the shift toward more creditworthy borrowers was the rise in average credit scores for both new- and used-vehicle loans. But the retreat from the high-risk tiers also comes during a quarter in which the average new-vehicle finance amount and monthly payment reached record highs.

June 7, 2017

Crisorio, Kamal to Chair 2017 Compliance Summit

UDS’s Brian Crisorio and Auto Dealer Today’s Tariq Kamal will serve as co-show chairs for this year’s Compliance Summit.

June 6, 2017

CUDL: Subprime Pullback Opens Door for Credit Unions

With banks retreating from all risk tiers, an executive with CU Direct Lending said the auto finance market is primed for credit unions to pick up more share. In the first quarter, credit unions grew their share of the market by 4%.

June 5, 2017

Edmunds: Down Payments Reach Record Levels in May

Car buyers are putting down $504 more on a new-vehicle purchase than they did five years ago. But with buyers purchasing pricier cars and interest rates on the rise, something has to give, Edmunds.com analysis said.

June 1, 2017

Cox, Holman Launch Flexdrive Subscription Service

Cox Automotive and Holman Enterprises have announced the launch of Flexdrive, a joint venture designed to offer a subscription option to new-car buyers.

May 30, 2017

White Clark Group CEO Named ‘Auto Finance Personality of the Year’

The award is designed to recognize an individual who has made the most noteworthy contribution to the auto finance industry in the last two years. Judges described White Clark CEO Brendan Gleeson as a “visionary for the motor finance industry.”

May 18, 2017

Former Chase Custom Exec Joins Westlake

The once head of Chase Custom Finance is back. Today, Westlake Financial Services announced it has contracted Bill Jensen to focus on developing its strategic accounts division.

May 18, 2017

NY Fed: Household Debt Surpasses 2008 Peak in Q1

The feat comes almost nine years after the Great Recession, when household debt reached $12.68 trillion. But the debt and its borrowers look quite different today, the New York Fed noted, and auto finance sources showed signs of tightening in response to some deterioration in auto loan performance.

May 11, 2017

Ally Adding Digital Signature, Contract Management Capabilities to Clearlane

Launched in April, Clearlane will soon be getting an upgrade. Through eOriginal, the auto finance marketplace will soon allow car buyers to sign and submit their financing documents online or via mobile devices.