Survey: 27% of consumers do not review their credit report annually
Wednesday, Oct. 2, 2024, 10:57 AM
Edmunds: Average amount financed for used cars drops in Q3
Tuesday, Oct. 1, 2024, 10:00 AM
FTC reiterates use of ‘plain language’ associated with regulatory activities
Monday, Sep. 30, 2024, 11:35 AM
FTC orchestrating Identity Theft Awareness Week
Wednesday, Feb. 3, 2021, 04:41 PM
SubPrime Auto Finance News Staff
The Federal Trade Commission is looking to raise awareness about identity theft and for good reason. The regulator said reports about any type of identity theft topped the list of consumer complaints submitted to the FTC through the third quarter ... [Read More]
ANALYSIS: Police arrest Florida shop owner who refused to surrender vehicle
Tuesday, Feb. 2, 2021, 04:18 PM
Dennis LeVine, Kelley Kronenberg
Despite recent changes in the lien sale laws, fraud by repair shops in south Florida continues. Some repair shops ignore the law with impunity. We believe involving the police and moving more aggressively toward fraudulent shop owners will send a ... [Read More]
Subprime notes: CPS securitization & Credit Acceptance financing, credit facility
Sunday, Jan. 31, 2021, 08:44 PM
SubPrime Auto Finance News Staff
Two long-standing subprime auto finance companies each made moves last week to give themselves the financial horsepower they need to continue originations and other business activities. After Consumer Portfolio Services launched its first securitization of 2021, Credit Acceptance announced the ... [Read More]
Interim CFPB director spells out immediate priorities
Sunday, Jan. 31, 2021, 08:37 PM
SubPrime Auto Finance News Staff
While he might be serving as director of the Consumer Financial Protection Bureau only in an interim capacity, Dave Uejio doesn’t appear to be just sitting idle as lawmakers eventually consider President Joe Biden’s nominee to be the permanent fixture ... [Read More]
CarGurus unveils pre-qualify program through Capital One, Westlake & GLS
Friday, Jan. 29, 2021, 03:53 PM
SubPrime Auto Finance News Staff
The next development in the working relationship involving CarGurus, Capital One, Westlake Financial and Global Lending Services (GLS) surfaced on Friday. CarGurus announced a new feature that can enable shoppers to pre-qualify for financing as they search on CarGurus for ... [Read More]
Exeter begins 15th anniversary celebration with gift to 1-millionth customer
Friday, Jan. 29, 2021, 03:48 PM
SubPrime Auto Finance News Staff
Exeter Finance is in a celebratory mood and rightfully so. The non-prime auto finance company now has originated contracts with 1 million customers since it was founded in 2006. To commemorate this milestone, Exeter identified its 1-millionth customer as Raul ... [Read More]
TransUnion: Financial accommodations for struggling contract holders remain elevated
Thursday, Jan. 28, 2021, 04:03 PM
SubPrime Auto Finance News Staff
While the number of accounts TransUnion classifies as being in some form of financial hardship status closed the year below a peak registered soon after the onset of the pandemic, the level remains notably elevated and isn’t softening at the ... [Read More]
PODCAST: Skip-tracing during the COVID-19 era
Wednesday, Jan. 27, 2021, 05:17 PM
SubPrime Auto Finance News Staff
Alex “SkipGuru” Price returned to the Auto Remarketing podcast to discuss one of the subjects he knows best: skip-tracing. Now the director of training and development for LocateSmarter, a data and analytics company, Price described how the pandemic has impacted ... [Read More]
Line 5 integrates with TecAssured to aid with dealer management & marketing
Wednesday, Jan. 27, 2021, 05:15 PM
SubPrime Auto Finance News Staff
Line 5, which partners with dealers to fund vehicle protection plans at all points along the credit spectrum, recently announced an integration with the technology solutions experts at TecAssured. TecAssured is a leading provider of innovative technology solutions for the ... [Read More]
Subprime ABS shows some deterioration, reflecting seasonality & COVID-19
Wednesday, Jan. 27, 2021, 05:12 PM
SubPrime Auto Finance News Staff
Looking through the prism of the public asset-backed securities market (ABS), both S&P Global Ratings and Kroll Bond Rating Agency (KBRA) spotted deterioration when analysts examined subprime auto financing. However, the softening didn’t trigger an extreme reaction from experts, with ... [Read More]