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May 31, 2018

Experian: Americans Borrow Record Amounts for Auto Purchases in Q1

The dream of owning a new vehicle is becoming more elusive for the average American consumer, with the average amount financed and monthly payment for a new vehicle climbing to record highs of $31,455 and $523, respectively.

January 25, 2018

Innovate Auto Finance to Service Subprime Portfolio Worth $50 Million

The purchaser and service of vehicle loan portfolios said it has been retained by an unnamed, multinational investment firm to source $50 million worth of subprime auto loan portfolios.

June 22, 2017

SF Conference Returns to Industry Summit

Industry Summit will once again play host to the Special Finance Conference, the industry’s premier SF training event.

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 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%.

May 24, 2017

PassTime Names New CEO, President

PassTime cofounder Jeffrey Frank was named chairman and CEO, while 19-year company veteran Chris Macheca was named president. The latter will retain his title of COO.

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.

February 10, 2017

Treat Red Flags Like Subprime Stips

Well-meaning F&I managers can unwittingly clear a Red Flag before it is actually cleared. Compliance expert has a simple plan to button up your documentation process.

January 9, 2017

Balancing Act

We hate to burst your bubble, but there is no bubble to burst. Auto finance expert breaks down the third-quarter results.

December 27, 2016

4 Compliance Predictions for 2017

The magazine’s compliance pro dusts off his crystal ball to offer a few predictions for 2017. If he’s correct, F&I offices could be in for a challenging year.

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