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Results: 98
The auto finance segment is growing at a healthy rate, but average new-vehicle loan amounts are outpacing the market, driving an increasing number of car buyers — including those with prime and superprime credit scores — out of the showroom and onto the used-car lot.
July 18, 2019
The new feature provides instant vehicle location and status to help reduce risk and streamline recovery for buy-here, pay-here dealers and lenders.
June 19, 2018
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.
May 31, 2018
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.
January 25, 2018
Industry Summit will once again play host to the Special Finance Conference, the industry’s premier SF training event.
June 22, 2017
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 7, 2017
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%.
June 6, 2017
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.
May 18, 2017
We hate to burst your bubble, but there is no bubble to burst. Auto finance expert breaks down the third-quarter results.
January 9, 2017
Auto financing extended to subprime and deep-subprime car buyers fell 4.5% from a year ago, as the auto finance industry continued to squash fears of a forming subprime bubble. Newly originated loans made to prime car buyers jumped 2% to encompass nearly 60% of auto loans originated during the period.
December 5, 2016
Slowing demand for new vehicles points to auto finance sources having to contend with increased compeittion for consumer loans. That was the conclusion of Equifax's Nation Consumer Credit Trends report for August, which showed that auto originations for the first six months of year grew 3.5% compared to a year ago.
September 29, 2016
Despite a competitive subprime auto finance environment, GM Financial continued gravitating toward a more prime-like credit profile during the second quarter.
July 26, 2016
The subprime finance source’s president says the company’s decision to exit the indirect channel was neither performance-based nor a reflection of current conditions in the subprime auto finance sector. Move connected to Cox's purchase of Dealertrack.
May 12, 2016
Subprime auto loans accounted for 21.7% of all 2015 originations. The firm notes, however, that credit performance remains excellent, a sign that finance sources 'are prudently extending credit to well-underwritten borrowers.'
March 22, 2016
John Palmer, CEO of ProMax Unlimited, will present “Secrets to Getting More Lender Approvals” at Dealer Summit, organizers announced on Wednesday.
March 2, 2016