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March 7, 2018

Westlake Launches New Prime Program

Executives say the new program, which is designed for car buyers with a 750 FICO or better, is part of the finance source's push to become a one-stop shop for every dealership.

March 7, 2018

eLEND Adds Auto Finance Veterans to Sales Team

Automotive finance veterans Joe Peterson and Flory Hunsaker join the tech firm as chief sales officer and regional sales director, respectively. They bring decades of sales success to eLEND as it prepares for the launch of its next-generation finance platform.

March 6, 2018

TD Auto Finance Joins AutoGravity Network

Through the newly forged partnership, indirect financing offers through TD Auto Finance will be made available to qualified buyers using AutoGravity’s digital retail platform.

March 6, 2018

Clarivoy Appoints Jessica Ruth to VP Role

Auto industry veteran and former Dominion executive Jessica Ruth has joined Clarivoy as vice president of product.

March 5, 2018

Auto Loan Interest Rates Soar to Eight-Year High

Edmunds analysts say the industry is beginning to see the trickle-down effect from the rate increases happening at the federal level. February's annual percentage rate on new finance vehicles was expected to average 5.2%, up from 4.9% in the year-ago period.

March 5, 2018

Experian Unveils Tri-Bureau Trended Attributes

The new offering is designed to help finance sources better serve consumers across the credit lifecycle, providing insight into historical consumer behavior across all three credit bureaus.

February 27, 2018

NextGear Enhances Account Management Platform

The floorplan financing provider has updated its Account Portal management platform with a new feature that allows dealers to opt into a recurring and automated payment system.

February 22, 2018

TransUnion: Auto Loan Growth Slowing

Originations continued to fall at a faster rate than previous years, as finance sources continued to tighten underwriting standards during 2017’s end-of-year quarter. TransUnion officials, however, say the sector is performing well as the economy remains relatively strong.

February 22, 2018

Military Lending Act's December Update More Harmful Than First Thought

A Hudson Cook attorney told industry trade groups in a Jan. 18 memo that the Defense Department’s Dec. 14 interpretative rule, combined with something else it did in July 2015, makes it ‘highly unlikely that any dealer or finance source will be willing to originate or purchase’ a vehicle finance transaction if credit-protection products are included.

February 20, 2018

Blinker Adds Ally’s F&I Protections, Expands Into Florida and California

Blinker was founded in 2016 by a team of industry veterans from US Bank, CarMax, GM Financial, and Cox Automotive. With this week’s announcements, the startup is quickly gearing up to take on private-party marketplaces like Craigslist, Letgo, Autotrader, Cars.com and Facebook Marketplace.