Former United Auto Credit & Westlake executive becomes SAFCO’s new chief risk officer
Tuesday, Nov. 26, 2024, 11:21 AM
Cox Automotive sells off another F&I tool as Vitu to acquire Dealertrack’s titling division
Monday, Nov. 25, 2024, 11:39 AM
CFPB examines carveouts in state data privacy laws for financial institutions
Monday, Nov. 25, 2024, 12:03 PM
APCO Holdings adds 3 VPs to executive team
Friday, Oct. 14, 2022, 02:59 PM
SubPrime Auto Finance News Staff
This week, APCO Holdings announced the addition of three new hires to its executive team. Coming aboard the provider and administrator of automotive F&I products and home to the EasyCare and GWC Warranty brands are Dell Birch, Heather Sachs and ... [Read More]
Repo volume at wholesale is up, but will remain below pre-COVID levels for years
Thursday, Oct. 13, 2022, 05:21 PM
Joe Overby, Senior Editor
Repo volume is climbing, but don’t expect it to get to pre-pandemic levels any time soon. After two years of declines, the amount of repossessed vehicle volume flowing into wholesale channels is expected to tick up to 1.2 million in ... [Read More]
Q3 closes with improved credit availability
Thursday, Oct. 13, 2022, 03:21 PM
SubPrime Auto Finance News Staff
Sales might have softened in September, but Cox Automotive indicated credit for auto financing improved as the third quarter closed. According to the newest Dealertrack Credit Availability Index released this week, access to auto credit expanded in September for the ... [Read More]
4 potential collections ramifications from proposed Arizona law
Wednesday, Oct. 12, 2022, 03:45 PM
SubPrime Auto Finance News Staff
The Arizona Creditors Bar Association recently offered its explanation for what Proposition 209: The Predatory Debt Collection Protection Act could do to collections within auto finance and other creditor segments if voters in the Grand Canyon State approve the proposal ... [Read More]
S&P Global Ratings examines auto ABS ratings after Hurricane Ian
Wednesday, Oct. 12, 2022, 03:34 PM
SubPrime Auto Finance News Staff
S&P Global Ratings acknowledged this week that it is too early to assess the full impact of Hurricane Ian on rated U.S. auto asset-backed securities (ABS). However, firm analysts currently believe that rating downgrades are unlikely, based on their assessment ... [Read More]
Informed.IQ makes inroads in subprime with CPS & DriveTime
Wednesday, Oct. 12, 2022, 03:32 PM
SubPrime Auto Finance News Staff
Informed.IQ, a provider of artificial intelligence-based software for financial institutions, has made notable inroads with providers in the subprime auto finance space. First, continuing its focus on artificial intelligence and machine learning, Consumer Portfolio Services last month partnered with Informed.IQ ... [Read More]
4 topics of Protective’s 3rd F&I report
Friday, Oct. 7, 2022, 01:52 PM
SubPrime Auto Finance News Staff
This week, Protective Asset Protection, a leading provider of F&I programs, services and dealer owned warranty company programs, released of its third F&I Industry Report. The project offered an in-depth look at four crucial topics, including: —Trends and insights shaping ... [Read More]
COMMENTARY: Most dealers aren’t aware of this specific FTC Safeguards Rule
Thursday, Oct. 6, 2022, 02:02 PM
Erica Cooper, GWC Warranty
As many dealers are aware, the Federal Trade Commission (FTC) recently issued new requirements to its Safeguards Rule that take effect Dec. 9. The rule requires auto dealerships with more than 5,000 customer records in their database to develop, implement ... [Read More]
3 findings from ARA survey about vehicle storage costs
Wednesday, Oct. 5, 2022, 03:58 PM
SubPrime Auto Finance News Staff
American Recovery Association executive director Joel Kennedy recently reported findings from an industry survey about vehicle and lot storage costs. Kennedy explained that ARA is examining this entire category of expenses that includes everything from rent, security, insurance and staffing. ... [Read More]
F&I Sentinel expands credentialing team
Wednesday, Oct. 5, 2022, 03:39 PM
SubPrime Auto Finance News Staff
A few days after reinforcing its engineering department, this week F&I Sentinel bolstered its product credentialing team by adding Michelle Covin, Sam Barnes and Alexander Bitar. F&I Sentinel said through a news release that Covin, Barnes and Bitar will serve ... [Read More]