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.
NEW YORK — 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.
Based in Irvine, Calif., CarFinance Capital will initially launch on the West Coast and plans to expand to Texas in June. Company officials said the finance company will continue to roll out across the United States throughout the remainder of 2011. Certain funds within the Perella Weinberg Partners’ Asset Based Value strategy, an affiliate of Perella Weinberg Partners, have committed capital to fund the company’s growth.
CarFinance Capital will be led by the experienced management team who previously built and operated Triad Financial Corporation, which was one of the largest nonprime auto finance companies in the U.S. Jim Landy, Triad’s founder and CEO from 1989 to 2005, will serve as president and chief executive officer of CarFinance. Three additional former Triad executives, Dennis Morris, Jeff Butcher and John O’Dowd, will serve as CarFinance’s chief operating officer, chief financial officer and chief credit officer, respectively.
“A significant portion of the non-prime lending supply disappeared during the recession, leaving dealerships underserved as demand for nonprime auto loans came storming back," said Landy. "There is a clear and growing need in the nonprime auto financing segment for more customized, dealer-friendly financial solutions, and CarFinance Capital was founded to fill this gap with a superior dealer process that delivers more consistency, flexibility and one-on-one support than some of the more rigid, mechanized players.
“CarFinance has the right leadership and the right strategy in a sector that we believe is poised for significant growth. Our experienced team looks forward to renewing relationships with the thousands of dealers with whom we’ve had such a long successful history,” he added.
David Schiff, partner at Perella Weinberg Partners and portfolio manager of the Asset Based Value strategy, stated, “We are excited to be partnering with this group of talented and proven executives. Jim and his team have had tremendous success leading one of the nation’s largest auto finance companies. We look forward to working with them to leverage their collective experience and to build upon their past track record to meet increasing market demand while becoming a premier player in the non-prime market.”
Perella Weinberg Partners’ Asset Based Value strategy is a provider of U.S. specialty finance solutions. Since its inception in 2008, the strategy has grown to manage in excess of $1 billion in equity capital through a number of different investment vehicles.
More Auto Finance

Dealerships Are Paying the Price for Extended Car Loans
Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
Read More →
Trade-Ins in Negative Equity Reach New Heights
As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.
Read More →
Auto Credit Plentiful
June numbers show lenders are readily granting access, including to risky borrowers, as consumers leverage themselves to take on high prices.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Porsche Financial Services Shifts Structure
After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.
Read More →
Tariffs Could Raise Insurance Premiums
As U.S. import tariffs affect repair costs, consumers might find it more affordable to replace a damaged vehicle, according to recent Insurify tariff analysis.
Read More →
Smaller Loans, Longer Terms
The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
Read More →
New Cars a Tad More Affordable
May averages show that combined circumstances gave auto consumers slightly better buying power for the month, though average prices were up year-over-year.
Read More →
First-Quarter Sees Long Auto Loan Growth
Experian data show more consumers are tapping the method, along with refinancings, to afford buying. Meanwhile, subprime borrowers are getting more access.
Read More →
Mastering Credit Friction
In this video, Josh Krach explains how to turn credit friction into an advantage.
Read More →