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
Westlake reaches $10B in assets, sets timeline to hit $20B
Monday, Nov. 4, 2019, 04:36 PM
SubPrime Auto Finance News Staff
Fueled in part by blossoming relationships with industry players such as CarGurus, Westlake Technology Holdings recently announced that it reached $10 billion in assets under management milestone ahead of its targeted goal of hitting the milestone in 2022. Westlake responded ... [Read More]
Toyota and Wells Fargo seek to help customers recently impacted by fires and tornadoes
Monday, Nov. 4, 2019, 04:34 PM
SubPrime Auto Finance News Staff
Both Toyota Financial Services and Wells Fargo put initiatives in place to help their customers affected by the recent series of wildfires throughout California, as well as the tornadoes that struck northern Texas last month. The Toyota captive announced in ... [Read More]
APR on new & used financing stays nearly steady in October
Friday, Nov. 1, 2019, 02:24 PM
SubPrime Auto Finance News Staff
As experts from ALG and Kelley Blue Book watched average transaction prices (ATP) for new models climb again in October, Edmunds noticed average interest rates for new-vehicle financing remained below 6% for the fourth month in a row. Edmunds pegged ... [Read More]
Fed reiterates timing when rate-cut impact truly surfaces
Thursday, Oct. 31, 2019, 01:58 PM
SubPrime Auto Finance News Staff
While referencing conditions of consumers who might be purchasing particular vehicles in your inventory or are already contract holders within your portfolio, Federal Reserve chairman Jerome Powell reiterated the impacts made by policymakers involving interest rates do not necessarily fire as ... [Read More]
From the editor: A crisis facing repossession agents
Wednesday, Oct. 30, 2019, 07:03 PM
Nick Zulovich, Senior Editor
While the overall automotive industry might be relatively healthy, no doubt there are dealerships struggling with aged inventory, auctions stressed to keep commercial consignors satisfied and finance companies wringing their hands over compressed margins and wavering portfolio performances. But if ... [Read More]
A tale of two candidates and a vital lesson for hiring managers
Tuesday, Oct. 29, 2019, 09:10 PM
SubPrime Auto Finance News Staff
Automotive Personnel founder and chief executive officer Don Jasensky addressed what he believes is the most common hiring mistake employers make. The National Automotive Finance Association board member discussed when dealerships and finance companies might pass on a potentially high ... [Read More]
2 separate Inovatec surveys shed light on pain points for lenders & consumers
Tuesday, Oct. 29, 2019, 03:30 PM
SubPrime Auto Finance News Staff
While enhancements in auto financing certainly have been made over the years, a pair of surveys orchestrated by Inovatec Systems Corp., revealed areas where improvements still could be made for the benefit of finance companies and consumers. This week, Inovatec ... [Read More]
August recoveries improve based on S&P auto ABS data
Monday, Oct. 28, 2019, 03:21 PM
SubPrime Auto Finance News Staff
While some overall metrics in the U.S. auto loan asset-backed securities (ABS) sector demonstrated seasonality, S&P Global Ratings also spotted some improvements in recoveries for both prime and subprime. According to its latest report, U.S. Auto Loan ABS Tracker: August ... [Read More]
TMCC’s ‘commitment to innovation’ made through latest financing action
Friday, Oct. 25, 2019, 03:17 PM
SubPrime Auto Finance News Staff
Toyota Motor Credit Corp. (TMCC) said it made a complex financing move that the captive said was “demonstrating the company’s commitment to innovation and advancing its reputation as an industry leader.” On Thursday, TMCC announced that it issued its first ... [Read More]
Credit Acceptance executive receives AFSA honor
Friday, Oct. 25, 2019, 03:15 PM
SubPrime Auto Finance News Staff
As another member of the auto-finance industry became chairman of the American Financial Services Association’s board of directors, an executive who has been with Credit Acceptance since 1996 received AFSA’s Distinguished Service Award (DSA) during the organization’s annual meeting in ... [Read More]