January’s Subprime Used Sales Climb Nearly 15%
Monday, Feb. 2, 2015, 05:03 PM
Nick Zulovich, Editor
Dealertrack Technologies' Michael Collins told SubPrime Auto Finance News during last month’s Vehicle Finance Conference hosted by the American Financial Services Association that the industry is in “very good shape.” January’s used-vehicle sales performance — especially in the subprime and ... [Read More]
CDK Global to Release Contract Validation Solution to FCA Stores
Monday, Feb. 2, 2015, 04:55 PM
SubPrime Auto Finance News Staff
As part of a trio of company developments, CDK Global announced its Contract Validation solution will be released later this year to Fiat Chrysler Automobiles (FCA) dealerships in the U.S. During the vehicle buying process, the CDK Contract Validation solution ... [Read More]
EFG Companies Now Offers Mileage-Based VSC
Monday, Feb. 2, 2015, 04:52 PM
SubPrime Auto Finance News Staff
On Monday, EFG Companies launched what it’s calling MAP My Miles — a mileage-only vehicle service contract that can enable consumers to customize their VSC to their personal driving habits. According to a recent EFG survey, 40 percent of consumers ... [Read More]
Ally Year-End Originations Hit 7-Year High
Friday, Jan. 30, 2015, 05:28 PM
SubPrime Auto Finance News Staff
Despite General Motors enhancing its relationship with GM Financial and Fiat-Chrysler shifting its captive finance company allegiance to Chrysler Capital that’s fueled by Santander Consumer USA, Ally Financial remains confident in its future prospects, sparked in part by the fact ... [Read More]
55% Percent of US Households Live Paycheck to Paycheck
Friday, Jan. 30, 2015, 05:16 PM
SubPrime Auto Finance News Staff
New analysis by The Pew Charitable Trusts showed again how much that monthly payment is critical to formulating a vehicle installment contract. The report indicated the majority of American households are living paycheck to paycheck because analysts discovered 55 percent ... [Read More]
ABS Filled with Smaller Cars Could Soften in 2015
Friday, Jan. 30, 2015, 05:10 PM
SubPrime Auto Finance News Staff
Fitch Ratings indicated the shift away from smaller, more fuel-efficient vehicles could result in lower wholesale vehicle prices and marginally slow asset performance of auto ABS transactions in 2015. Analysts pointed out that sales of trucks and SUVs reached the ... [Read More]
Midwest Sales & Financing Prospects Look Promising
Wednesday, Jan. 28, 2015, 05:05 PM
SubPrime Auto Finance News Staff
For dealers and finance companies with business interests in the Midwest, Huntington Bank’s third annual Midwest Economic Index is offering an encouraging forecast for possible deliveries and originations. The index showed 16 percent of consumers in the region definitely will ... [Read More]
Equifax Launches Platform to Aid 3rd Party Verifications
Wednesday, Jan. 28, 2015, 05:03 PM
SubPrime Auto Finance News Staff
While claiming that a “majority” of the nation’s top auto finance companies already leverage its employment verification service, Equifax unveiled its newest technology platform during the recent National Automobile Dealers Association Convention. Equifax highlighted AutoConnect can enable partners to deliver ... [Read More]
Another Chance to Begin NAF Association Compliance Program
Wednesday, Jan. 28, 2015, 05:01 PM
SubPrime Auto Finance News Staff
Spurred in part by demand for training to meet evolving regulatory demands, the National Automotive Finance Association is giving company executives and managers who might have missed the opening in-person training module of its Certified Consumer Credit Compliance Professional Program ... [Read More]
Auto/Mate Takes F&I Menu Solution to Mobile Devices
Wednesday, Jan. 28, 2015, 04:59 PM
SubPrime Auto Finance News Staff
Auto/Mate Dealership Systems recently launched Option/Mate Mobile, a mobile-optimized version of its F&I menu solution for dealers. The company explained F&I managers using Auto/Mate’s dealership management system now can offer customers at their stores a variety of menu presentations on ... [Read More]