Five straight months of credit tightening for auto finance stops in September
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New York Fed & LegalShield notice more strain on consumer finances
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Latest 2 information offerings from NAF Association & AFSA
Monday, Aug. 29, 2016, 03:55 PM
SubPrime Auto Finance News Staff
As the American Financial Services Association scheduled an informational webinar with executive vice president Bill Himpler, organizers of the National Automotive Finance Association’s Consumer Credit Compliance Certification Program reminded potential participants about the upcoming deadline for discounted accommodations. In an ... [Read More]
3 potential dealer profit points of Spireon SkyLink
Monday, Aug. 29, 2016, 03:29 PM
SubPrime Auto Finance News Staff
With more than 3 million active subscribers using its GPS-based vehicle telematics and Business Intelligence solutions, Spireon recently highlighted that its SkyLink solution is enabling dealerships to streamline inventory management as well as add a new finance and insurance profit ... [Read More]
Yellen maintains Fed’s deliberate path toward possible rate rise
Friday, Aug. 26, 2016, 03:14 PM
Nick Zulovich, Senior Editor
Federal Reserve chair Janet Yellen reiterated again on Friday that an interest-rate increase continues to be closely considered by policymakers as they watch a wide array of broad economic trends to shape their decisions. During the Fed’s annual retreat to ... [Read More]
GWC Warranty names new marketing manager
Friday, Aug. 26, 2016, 03:10 PM
SubPrime Auto Finance News Staff
GWC Warranty, a provider of used-vehicle service contracts and related finance and insurance products sold through dealers, recently announced the addition of Melissa Roberts as the new marketing manager. As a member of the marketing department, GWC explained Roberts will ... [Read More]
Fitch’s summertime subprime ABS forecast coming true
Thursday, Aug. 25, 2016, 02:48 PM
SubPrime Auto Finance News Staff
When this summer began, Fitch Ratings projected “the summer months do not figure to be as kind for the sector,” as analysts discussed future performance of subprime auto loan ABS. The latest index results Fitch released on Thursday showed the ... [Read More]
EFG Companies & Northwood launch F&I Innovator of the Year competition
Wednesday, Aug. 24, 2016, 03:54 PM
SubPrime Auto Finance News Staff
EFG Companies, together with Northwood University, launched the second annual F&I Innovator of the Year Competition this week. Held during the fall semester each year, this competition leverages the out-of-the box thinking of today’s Gen Z college students, coupled with ... [Read More]
3 groups pinpoint issues with CFPB arbitration proposal
Wednesday, Aug. 24, 2016, 03:50 PM
SubPrime Auto Finance News Staff
One of the noteworthy quotes from those old Bugs Bunny cartoons that involved Marvin the Martian included the phrase, “Well, back to the old drawing board.” That phrase also summarized the sentiment the American Bankers Association, the Consumer Bankers Association and ... [Read More]
Used prices at record high, but payments steady
Monday, Aug. 22, 2016, 02:50 PM
Joe Overby, Staff Writer
Retail used-car prices, at $19,400 a pop, have never been higher than they were in the second quarter, according to Edmunds.com. But here’s the thing. Average monthly payments on used vehicles are staying relatively low. In the second quarter, the ... [Read More]
Westlake Flooring Services surpasses 100K vehicles in portfolio
Monday, Aug. 22, 2016, 02:25 PM
SubPrime Auto Finance News Staff
In less than four years after Westlake Flooring Services was founded, the company recently hit the milestone of 100,000 vehicles in its portfolio. Since November 2012, Westlake Flooring has grown to a division of more than 100 employees with approximately ... [Read More]
3 Dallas dealers violate FTC administrative order
Friday, Aug. 19, 2016, 03:33 PM
SubPrime Auto Finance News Staff
Evidently the Federal Trade Commission is far from finished with its regulatory actions involving what it dubbed Operation Steer Clear — a nationwide crackdown on misleading advertising regarding vehicle sales, financing and leasing that began more than two years ago. ... [Read More]