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July 30, 2015 - Industry News

Ally Increases Used, Nonprime Originations With Loss of GM Lease Business

Ally’s second quarter originations were flat from a year ago despite the loss of General Motors’ lease business, with the company shifting its origination mix toward used and nonprime.

Tags: Ally Financial, Auto Leases, GM Financial, loan originations, nonprime

March 31, 2015 - Industry News

GWC Warranty and FlexPath Capital Form Strategic Alliance

Independent automobile finance company FlexPath will now offer GWC vehicle service contracts as part of its new partnership with GWC Warranty.

Tags: F&I products, GWC Warranty Corporation, nonprime, vehicle service contracts

April 24, 2014 - Industry News

14 Credit Unions to Participate in Nonprime Pilot Program

Fourteen credit unions across the country are participating in a product incubator for Non-Prime Auto Loans, one of five products in the Filene Research Institute’s accessible financial services incubator funded by the Ford Foundation.

Tags: Auto Loans, credit unions, nonprime

September 3, 2013 - Industry News

New-Vehicle Financing, Leasing Reach New Highs

Experian Automotive reports that 84.5 percent of consumers used a loan or a lease to purchase a new vehicle in the second quarter, with leasing accounting for 27.64 percent of all new vehicles financed during the quarter.

Tags: deep subprime, Experian Automotive, new-vehicle leasing, nonprime, retail financing, subprime

April 24, 2012 - Industry News

CarFinance Opens New Offices, Continues Expansion

CarFinance Capital LLC has opened a new office in Fort Worth, Texas. Housing an additional 125 employees, the new facility will manage the Eastern and Central time zones for the below-prime auto finance source.

Tags: CarFinance Capital, Jim Landy, nonprime

March 29, 2012 - Industry News

SAFCo Enters Four Midwest States

Nonprime finance source SAFCo is now available to dealers in Illinois, Indiana, Michigan and Ohio.

Tags: nonprime, SAFCo, subprime

March 29, 2012 - Industry News

First Niagara Launches Auto Finance Unit

First Niagara Financial Group is on the move, announcing yesterday that it is entering the auto finance market with a new slate of financing options for dealers in the Northeast.

Tags: Auto Loans, First Niagra Financial Group, nonprime

February 23, 2012 - Industry News

Interest Rates at Lowest Levels Since 2008, Experian Reports

Experian Automotive announced that the automotive loan market showed continued improvement, with interest rates for new- and used-vehicle loans at their lowest levels since 2008.

Tags: Auto Loans, Credit Scores, deep subprime, Experian, interest rates, nonprime, subprime

December 1, 2011 - Industry News

Subprime Originations Realize 3Q Boost, Reports Experian Automotive

Below-prime auto loan originations continued to pick up steam in the third quarter, with the biggest gains seen in the two highest risk segments, Experian Automotive reported.

Tags: Auto Loans, deep subprime, Experian, nonprime, subprime

September 13, 2011 - Industry News

NAF Association Announces 2012 Conference Date

The National Automotive Finance (NAF) Association will kick off its 16th annual conference on May 30 at the Omni Fort Worth Hotel in Texas.

Tags: Finance, NAF Association, National Automotive Finance Association, nonprime, training

August 30, 2011 - Industry News

Below-Prime Originations Jump 22.4 percent in 2Q, Experian Reports

Experian Automotive reports that the below-prime segment represented 22.29 percent of all loans originated in the second quarter, up from 18.21 percent in the year-ago quarter.

Tags: Credit, deep subprime, Experian, new-vehicle originations, nonprime, subprime

June 28, 2011 - Industry News

Flagship Credit Acceptance Rolls Out National Subprime Loan Portfolio Program

Flagship Credit Acceptance’s Portfolio Acquisition Program will purchase existing portfolios of nonprime and subprime loans from auto dealers and finance companies across the United States.

Tags: Finance, Flagship Credit Acceptance, loan portfolios, nonprime, special finance, subprime

June 28, 2011 - Industry News

CarFinance Capital Launches in Texas

CarFinance Capital LLC launched its nonprime auto financing system in Texas following a similar program rollout in California in May.

Tags: CarFinance Capital, FICO, Finance, nonprime, special finance

May 10, 2011 - Industry News

Triad Founder Launches Nonprime Finance Company

Four former Triad Financial executives have partnered with a Perella Weinberg Partners affiliate to form CarFinance Capital LLC, a direct and indirect automobile finance company catering to the nonprime market.

Tags: nonprime, Triad Financial

March 1, 2011 - Industry News

Experian Automotive: Delinquencies Improved, Loans Increased in 4Q 2010

Automotive credit continued to strengthen in the year-end quarter of 2010, as 30- and 60-day delinquencies exhibited sharp declines, according to Experian Automotive's quarterly analysis.

Tags: Credit Scores, delinquencies, Experian, Finance, nonprime, subprime

September 24, 2010 - Industry News

Wells Fargo Provides Carolina Finance With Credit Facility

Wells Fargo Preferred Capital, a subsidiary of Wells Fargo & Company, has provided a revolving credit facility to Carolina Finance LLC.

Tags: Credit, nonprime, Wells Fargo

August 31, 2010 - Industry News

Auto Loan Delinquencies Drop; Nonprime and Subprime Loans Rise

Automotive loan delinquencies dropped during the second quarter this year, marking the second consecutive quarter with a year-over-year decrease in quarterly delinquencies, according to Experian Automotive.

Tags: Credit Scores, deep subprime, delinquencies, Experian, Finance, nonprime, subprime

August 24, 2010 - Industry News

BlueSky Integrates Leads Program With Nonprime Lender AFS

BlueSky Marketing Group, a marketing and leads provider, has partnered with Auto Funding Services, a nonprime auto finance lender, and integrated its Real Leads program with AFS.

Tags: BlueSky Marketing Group, lead generation, nonprime

July 22, 2010 - Industry News

GM to Acquire AmeriCredit

To meet customer demand for leasing and non-prime financing for GM vehicles, General Motors and AmeriCredit Corp. announced July 22 that they entered into a definitive agreement for GM to acquire the subprime auto finance company in an all-cash transaction valued at approximately $3.5 billion.

Tags: AmeriCredit, General Motors, leasing, nonprime

January 20, 2010 - Industry News

VINtek Expands Relationship With Santander Consumer USA

VINtek, a provider of auto finance services and solutions for lenders, announced an agreement to manage vehicle titles for Santander Consumer USA (SC USA) Inc., resulting from SC USA’s acquisition of the indirect auto loan portfolio of Texas-based Triad Financial.

Tags: electronic lien and titles, nonprime, Santander Consumer USA, Triad Financial, VINtek

January 14, 2010 - Industry News

Nationwide Acceptance Corporation Joins RouteOne

RouteOne LLC announced Jan. 14 that it has completed integration with independent subprime lender Nationwide Acceptance Corporation (NAC). Dealers in all of the markets served by NAC may now process credit applications electronically to NAC through the RouteOne platform.

Tags: Lender, Nationwide Acceptance Corporation, nonprime, RouteOne, subprime

April 29, 2009 - Industry News

NAF Association Hosts 13th Annual Non-Prime Auto Finance Conference

This year the nonprime auto financing industry is facing challenges that it has never encountered before. The National Automotive Finance (NAF) Association hopes to address these challenges at its 13th annual nonprime auto finance conference from June 3 to 5, 2009 in Fort Worth, Texas.

Tags: National Automotive Finance Association, nonprime

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