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SAN FRANCISCO — Paul Wible, executive vice president of the national
finance group at Bank of the West, recently shared his perspective on how the
vehicle lending experience changed for buyers during the past 10 years.

Wible pinpointed the biggest change as the speed at which
banks and dealers can work together to provide financing the customer needs at
the time of their purchase.

"So much of the process has now has been automated, and that
has led to a quicker financing transaction and lower prices for the consumer,"
said Wible, who also is chairman of the automobile finance committee at the
Consumer Bankers Association.

During a question-and-answer session with
InsuranceQuotes.com, Wible projected about how auto financing might evolve
during the next 10 years.

"If I knew that, I probably wouldn't have the job I have,"
Wible said with a laugh. "What I would say is almost all lenders and dealers
and banks are focused on providing the right product at the right time that
matches the consumer's needs. I think the application process will only
continue to get faster, and I think even more information will become available
to more people.

"More and more of this process is moving to the online
space," he went on to say. "That means consumers will have quicker access to
more information about the loan they are applying for and the financial context
of borrowing. What's more, consumers are going to have an increasing number of
options when it comes to lenders, and more competition usually means a better
deal for consumers in the end."

The complete Q&A with Wible can be found here.


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