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December 7, 2017 - Industry News

Subprime Originations Hit Record Low in Q3

Subprime financing fell to its lowest point since 2012, while prime grabbed the lion’s share of the auto finance space in the third quarter. Even the used-vehicle market has gone prime, with buyers outside of prime accounting for just a third of the market.

Tags: auto finance, Experian Automotive, prime financing, Subprime Financing

December 1, 2016 - Industry News

Fitch: Subprime Auto ABS Losses Creep Up, Prime Stable

Annualized net losses for prime auto loan ABS declined on a monthly basis in October, while subprime losses rose 32 basis points to 9.61%, according to the ratings agency. Subprime ANL, however, remain within levels recorded earlier this year.

Tags: Auto ABS, auto finance, Fitch Ratings, prime financing, subprime auto finance

May 1, 2014 - Industry News

GM Financial Pilots Prime Product

General Motors’ captive finance company revealed during its quarterly investor call that it began piloting a prime finance product in the first quarter. The firm’s chief executive also noted that market competition is beginning to stabilize.

Tags: General Motors, prime financing, Quarterly Earnings

July 19, 2011 - Industry News

Automakers Could Turn to Fleet if Retail Stalls, Warns CNW

Consumers were back on the sidelines for the first 15 days of July, according to CNW Research, as car buyers continued to wait for the expected increase in incentives after the summer months.

Tags: CNW, FICO, incentives, loan approval, manufacturer incentives, prime financing, subprime, used vehicles

September 13, 2010 - Industry News

Westlake Implements Titanium Program for Prime Credit Customers

Westlake Financial Services has begun the nationwide roll out of its Titanium Program, which is aimed at prime credit customers.

Tags: FICO, prime financing, Westlake Financial Services

August 31, 2010 - Industry News

Auto Loan ABS Performance Follows Seasonal Downshift

The performance of U.S. auto loan ABS is starting to exhibit seasonal negative trends, according to the auto loan ABS indices results from Fitch Ratings.

Tags: Auto ABS, delinquencies, Fitch Ratings, prime financing, subprime

August 3, 2010 - Industry News

Dealer Satisfaction With Lenders Improves, Survey Says

Lenders who are successful in satisfying automotive dealers by meeting key performance expectations are more likely to capture a greater share of preferred loan applications from their dealer network, according to the J.D. Power and Associates 2010 U.S. Dealer Financing Satisfaction Study.

Tags: Alphera Financial Services, Audi Financial Services, BMW Financial Services, floorplan financing, J.D. Power and Associates, Mercedes-Benz Financial Services, prime financing, retail leasing, subprime, Toyota Financial Services

July 13, 2010 - Industry News

Subprime Approvals Lagging Behind, Reports CNW

Auto finance sources continued to favor the less risky lending categories in June, with approval rates for the prime and nearprime categories reaching new highs. The story was different for subprime approvals, which continued their descent from a high in April.

Tags: CNW, loan approval, near prime financing, prime financing, subprime

June 15, 2010 - Industry News

Auto Loan Delinquencies Drop for First Time Since 2007

American consumers are doing a better job of making payments on their auto loans as delinquencies on 30- and 60-day loans fell in the first quarter of 2010, according to Experian Automotive.

Tags: Credit Scores, delinquencies, Experian, prime financing, subprime

May 18, 2010 - Industry News

Approvals, Pent-Up Demand Continue to Rise, Says CNW

Auto loan approvals continued to pick up in April, the same month pent-up demand reached its highest level since the third quarter 2008, according to CNW Research.

Tags: CNW, consumer financial habits, loan approval, near prime financing, prime financing, subprime

December 3, 2009 - Industry News

Finance Express Adds Gateway One to Lender Platform

Finance Express, a provider of Web-based financial services and technology for independent auto dealerships, said that Gateway One Lending & Finance (GOLF), a lender specializing in prime and near-prime paper, joined the Finance Express platform.

Tags: Finance Express, near prime financing, prime financing

November 24, 2009 - Industry News

Safe Bet: Prime-Credit Customers Get Growing Share of Loans

A growing percentage of new-car sales are going to prime-credit customers as banks and other financial institutions look for safer bets, according to CNW Market Research.

Tags: CNW, near prime financing, prime financing, subprime

July 21, 2009 - Industry News

Approvals Improve for Prime and Near Prime; Fall for Subprime

Auto loan approvals improved in July for the prime and near prime markets, but shoppers in the subprime market continued their struggle to get approvals by conventional means, according to CNW Research.

Tags: CNW, delinquencies, loan approval, near prime financing, prime financing, subprime

April 14, 2009 - Industry News

More Than 700,000 Credit Applications Rejected in 1Q, Says CNW

Despite sales being off by nearly 40 percent from the first three months of last year, credit-application rejections increased 329 percent from the same period last year, according to CNW Research.

Tags: CNW, Credit Applications, near prime financing, prime financing, subprime

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