The National Automotive Finance (NAF) Association's 6th Annual Non-Prime Auto Lending Conference drew lenders and dealers from across the United States and Canada. As it did last year, the conference kicked off with a presentation on federal regulation. FDIC's John Lane, associate director of operations, division of supervision, gave the "Regulator's Views on Nonprime Lending."
Views from the leaders of related associations were heard. Kenneth Shilson of the National Buy Here, Pay Here Association spoke on the "Non-Prime Capital Market Opportunities and Challenges." The presentation outlined steps to take to assure success in the nonprime auto lending marketplace.
Ray Nichols of the National Automotive Auction Association (NAAA) gave "Views from the Auction Market," examining the evolving relationship among remarketers, lenders and the Internet.
NAF Association's legal affairs subcommittee, chaired by Douglas Koktavy, put together two panel presentations that covered a range of issues of interest to both lenders and dealers. Panel members discussed the impact of selected state and federal decisions on the nonprime automotive industry. Including its chairman, seven members of the NAF Association's legal affairs subcommittee participated in the popular panel presentations.
In "The New Nonprime Buyer," Joseph Lescota, chairman of automotive marketing for Northwood University, discussed how economic issues have affected both new and used car buyers.
Bradley Schwai, who administered the NAF Association's annual nonprime auto lending survey for the second straight year, reported on data from this and previous surveys. Also for the second year, participants were asked about Internet usage. Although usage was about the same in both years, bookings via Internet were up.
The conference took place at the Sheraton Chicago Hotel and Towers at Cityfront Center. Prior to the registration and reception that opens the annual conference, an afternoon golf tournament was played at Pine Meadow Golf Course.
Exhibits, open throughout the conference, gave those attending the opportunity to learn about recent developments in products and services for the industry.
Speaker presentations are available for purchase on audiotape, and some presentations will be posted on the Association's website. Visit www.nafassociation.com for more information, contact the Association office by phone at (800) 463-8955 or e-mail [email protected].