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Nissan chooses Sword Apak’s floor plan solution
Friday, May. 13, 2016, 02:51 PM
SubPrime Auto Finance News Staff
Nissan Motor Acceptance Corp. (NMAC) recently selected Sword Apak’s Wholesale Floorplan Finance System (WFS) to improve dealer satisfaction and support growth targets in North America. Officials highlighted that NMAC sought a new floor planning solution that could provide an outstanding ... [Read More]
April lease approvals rise 3.2%
Thursday, May. 12, 2016, 03:01 PM
SubPrime Auto Finance News Staff
Swapalease.com reported that vehicle lease credit approvals bounced back a bit in April versus the pace of approvals seen in March, registering a 3.2-percent gain. Site officials indicated the April approval rate came in at 69.9 percent, up from the ... [Read More]
DriveTime opts to wind down GO Financial
Thursday, May. 12, 2016, 09:01 AM
Nick Zulovich, Senior Editor
DriveTime Automotive Group ownership is eliminating its subprime auto finance company that originated paper with franchised and independent dealerships for the past five years. GO Financial president Colin Bachinsky said the company stopped accepting applications from dealerships late on Wednesday. ... [Read More]
Why 13.1% delinquency rise was ‘natural’ in Q1
Wednesday, May. 11, 2016, 03:27 PM
Nick Zulovich, Senior Editor
A double-digit rise year-over-year in what TransUnion classifies as serious delinquencies above a level not seen in five years might prompt pessimistic auto finance observers and executives to reduce originations immediately and turn up the intensity in collections in hopes ... [Read More]
F&I Express and First Equity Payment complete integration
Wednesday, May. 11, 2016, 03:22 PM
SubPrime Auto Finance News Staff
F&I Express recently finalized an integration with First Equity Payment to better serve their dealership clients by fully integrating their eContracting capabilities. F&I Express has aggregated a network of more than 110 automotive aftermarket insurance providers in an online portal ... [Read More]
How vehicle lines of credit could aid subprime borrowers
Tuesday, May. 10, 2016, 03:22 PM
SubPrime Auto Finance News Staff
Tony Hughes and Michael Vogan of Moody’s Analytics proposed what some finance company executives might consider an outside-the-box idea to help their customers who are stretching contract terms as long as possible in order to keep monthly payments affordable and ... [Read More]
Negative equity is growing, especially on car notes
Monday, May. 9, 2016, 04:12 PM
Nick Zulovich, Senior Editor
NADA Used Car Guide gave SubPrime Auto Finance News an exclusive look at its latest white paper that examines a new way of financing in light of lengthening terms and deeper negative equity positions. During a conversation on Monday, executive ... [Read More]
GWC Warranty names new VP of training
Monday, May. 9, 2016, 04:05 PM
SubPrime Auto Finance News Staff
GWC Warranty recently hired Tom Blackwell as its new area vice president of training. The company highlighted that Blackwell will lead the development and implementation of innovative training programs for GWC Dealer Consultants, providing them with the tools and resources ... [Read More]
3 industry groups find similar concerns with CFPB arbitration proposal
Friday, May. 6, 2016, 03:13 PM
SubPrime Auto Finance News Staff
Three large industry organizations — the American Financial Services Association, the American Bankers Association and the Consumer Bankers Association — all found similar issues with the proposed rule governing arbitration released on Thursday by the Consumer Financial Protection Bureau. As ... [Read More]
EFG among BenchmarkPortal’s Top 100 call centers
Friday, May. 6, 2016, 03:10 PM
SubPrime Auto Finance News Staff
Coinciding with the recent hiring of a former executive at Hyundai and Nissan as vice president of product development, EFG Companies highlighted this week that it is the only F&I product provider to be named to the BenchmarkPortal Top 100 call centers ... [Read More]