For much of the summer, Re3 Conference panel discussion moderator and Intellaegis president John Lewis has been dissecting the debt collection regulation proposal released by the Consumer Financial Protection Bureau. Lewis compiled a three-segment blog series on Intellaegis’ website, portions of which are on tap to be discussed during this week’s episode of Used Car […] [Read More]

NextGear Capital UK has opened NextGear House, a new and significantly larger office located next to the company’s former headquarters in Chester. The move comes as a result of rapid business growth since the company opened its UK headquarters in 2014. The UK business has a customer base of nearly 1,000 used vehicle dealers, which […] [Read More]

TransUnion recently pushed out a series of recommendations to help companies that specialize in third-party debt collections. However, some of the suggestions could help first-party companies who are involved in repossession and recoveries in the auto finance space. TransUnion emphasized that with a primitive strategy at play, a collections company cannot function at its full […] [Read More]

In what should portend strong certified pre-owned unit sales down the road, Experian’s latest State of the Automotive Finance Market report highlighted leasing volume as a share of all new models financed set another record during the second quarter. Analysts on Tuesday indicated leasing continued its strong growth as the share of new vehicles leased jumped from […] [Read More]

The new top boss at NextGear Capital is one familiar with the organization. Cox Automotive on Thursday announced that Shane O’Dell has been named president of Financial Solutions. As president, O’Dell will oversee NextGear Capital, which services more than 23,000 dealers across North America, the United Kingdom and Ireland. O’Dell will report to Mark O’Neil, […] [Read More]

With leasing activity continuing to intensify, a quartet of experts from Moody’s Analytics devised elaborate formulas and explanations for how to structure residual values that might help captive finance companies, other institutions that provide vehicle leasing as well as other service providers involved with remarketing. The Moody’s team introduce a new model for forecasting the […] [Read More]

According to TransUnion’s latest Industry Insights Report, 20 states registered a delinquency rate higher than what analysts pegged as the overall reading for the second quarter. Analysts found that in Q2 of this year the auto delinquency rate connected to contracts 60 or more days past due increased to 1.11 percent, an 11-basis point rise […] [Read More]

In the second quarter, the average monthly payment on a lease was $431, up from $419 a year ago, according to Edmunds.com. That also marked the highest Q2 average since 2011, when payments averaged $434 a month. “Leasing has been a major force in elevating new-car sales for the past three years,” Edmunds said in […] [Read More]

Since last spring, the Justice Department has leveraged the regulatory teeth contained within the Servicemembers Civil Relief Act (SCRA) to reach a record settlement with Santander Consumer USA and to bring a lawsuit against a Michigan credit union. The developments both involved the SCRA and vehicle repossessions involved with members of the military and their […] [Read More]

When consumers take on retail financing for their vehicle purchase, often they’re stretching out terms as long as possible to keep their payments affordable. Experian Automotive put the average new-vehicle contract length at 68 months, according to its first-quarter data. But when it comes to leasing, just the opposite term is sought by consumers. The […] [Read More]