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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.
Read More →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.'
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John Palmer, CEO of ProMax Unlimited, will present “Secrets to Getting More Lender Approvals” at Dealer Summit, organizers announced on Wednesday.
Read More →The total dollar volume for outstanding automotive loan balances grew by $92 million from the second quarter of 2014 to the second quarter of 2015, the largest dollar volume growth since 2006, according to a report from Experian Automotive.
Read More →During the month of June, Western Funding funded 906 deals for $11.2 million in contracts — its biggest origination month ever.
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Delinquencies remained in check despite total outstanding auto loan balances rising to an all-time high, signaling a healthy automotive credit climate.
Read More →CIVC Partners’ portfolio company, Honor Finance, has established a new funding facility with Wells Fargo Securities. The new facility provides a substantial increase in funding capacity.
Read More →In the first quarter of 2015, the percentage of automotive loans that fell within the subprime and deep subprime risk categories made up 19.7% of the market, the lowest share since 2012, according to Experian Automotive.
Read More →Western Funding has announced its Triple Pay program, which allows dealers to build a bankable portfolio and receive three different types of payments on the same deal — upfront checks, near portfolio closing and back-end payment streams.
Read More →In the first quarter of 2015, the percentage of automotive loans that fell within the subprime and deep subprime risk categories made up 19.7% of the market — the lowest share since 2012, according to Experian Automotive.
Read More →