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Prestige Financial

Cause for Concern: CEOs Take the AFSA Stage

Executives representing leading auto finance sources gathered at the American Financial Services Association’s 2018 conference to discuss the present and future consequences of inflated lease returns, declining used-car values, and rising interest rates.

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Hyde Promoted to COO at Prestige

Richard L. Hyde was promoted to COO of Prestige Financial Services Inc. Hyde most recently served as the company’s executive vice president.

Finance Express Adds Prestige to Lender Portal

Finance Express announced today that it has entered into an agreement with Prestige Financial that will make the specialty auto finance source available to independent dealers on the technology company's lender portal.

Prestige Revamps Credit Scorecard Process

Prestige Financial Services Inc. has selected analytics software and services provider SAS to revamp its internal credit scorecard program.

Prestige Secures $30 Million Credit Line With Chase

The new line of credit from Chase will serve as one of two primary sources of short-term revolving liquidity to fund Prestige Financial Services’ consumer lending activities.

Ending the Cycle

Things are looking up for the below-prime segment, but our analyst warns that there still may be trouble ahead for the finance companies and dealers who serve that segment.

Prestige Financial Announces $150 Million Funding Facility with Wells Fargo Securities

Prestige Financial’s $150 million funding facility with Wells Fargo Securities has a renewable one-year term and will assist Prestige in growing its loan portfolio and completing periodic asset-backed securitizations.

Prestige Adds Eight States to Lending Territory

Prestige Financial will expand its subprime lending programs to dealerships in Alabama, Hawaii, Kansas, Kentucky, Montana, New Jersey, Wisconsin and Wyoming.

Prestige Financial Services, OnlineBKmanager.com Partner to Assist Subprime Dealers

Prestige Financial Services and www.OnlineBKmanager.com have partnered to help dealers efficiently deliver vehicles and supply financing for bankruptcy customers. Through this alliance, Prestige Financial Services’ Dealers Partners can receive a package discount on www.OnlineBKmanger.com services.

Prestige Financial Establishes $150 Million Conduit Facility

Prestige Financial Services Inc. has established a $150 million asset-backed commercial paper conduit facility through JPMorgan Chase Bank N.A. in Chicago.