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Westlake Sees ‘Quick’ Dealer Adoption of E-Contracting, Exec Says

Westlake Sees ‘Quick’ Dealer Adoption of E-Contracting, Exec Says

May 26, 2017 at 12:56 pm 0 comments

Westlake Financial Services saw “very quick” dealer adoption of its e-contracting solution, which the lender first rolled out in January to five states, and which has since grown to 22 states, Casey Harmon the company’s senior vice president of corporate development, told Auto Finance News. E-contracting is now used on 60%Read More

Peter Gasparro, managing director of business development and strategy at Chase Auto Finance,  discusses the industry during a fireside chat at Auto Finance Innovation 2017.

Chase Auto Direct to Expand to Non-Bank Customers, Add More States

May 26, 2017 at 10:54 am 0 comments

SAN DIEGO — Chase Auto Finance is on a “journey” to expand its Chase Auto Direct platform to non-Chase customers, said Peter Gasparro, the bank’s head of strategy and business development. “We are still on a journey of iterating,” he told attendees at Auto Finance Innovation 2017 last week. “WeRead More

Fair Eyes New Partners as It Preps for Launch, President Says

Fair Eyes New Partners as It Preps for Launch, President Says

May 26, 2017 at 9:40 am 0 comments

SAN DIEGO — Fair, although still in startup stealth mode, appears poised to launch its business by next year, and is seeking new partners. That according to comments from Georg Bauer, the company’s co-founder and president, was the upshot from Auto Finance Innovation 2017 last week.

MY16 Lit Book Imagery

EagleRider, Harley-Davidson Deal Was ‘In the Works’ for 20-Plus Years, CEO Says

May 26, 2017 at 9:31 am 0 comments

EagleRider’s new partnership with Harley-Davidson Motor Co. was more than two decades in the making, EagleRider Chief Executive Chris McIntyre told Powersports Finance. The two companies formed an exclusive partnership earlier this month to develop a motorcycle rental program. EagleRider exclusively offers current model year Harley-Davidson motorcycle fleets in theRead More

The active and senior judges of the Federal Circuit in early 2016.

Judges Divided in Case to Determine CFPB Leadership

May 25, 2017 at 12:31 pm 0 comments

Auto finance companies are closely watching a regulatory case that held its first oral arguments yesterday, which will determine the leadership structure of the Consumer Financial Protection Bureau and the speed with which a Donald Trump administration can enact financial regulatory policy. The U.S. Court of Appeals for the DistrictRead More

2015 Honda Fourtrax Foreman Rubicon.

Aftermarket Parts Maker Teams Up With Get Financing

May 25, 2017 at 9:31 am 0 comments

Houser Racing, an ATV and UTV aftermarket parts manufacturer, inked a deal with Get Financing to begin offering “flexible” consumer financing, the companies announced yesterday. Houser Racing’s customers now have a financing option to allow them to get products to outfit their ATV or UTV, and manage one low monthlyRead More

NMAC Could Pay $256M For Fraud in Pulling Dealer’s Funding, Jury Finds

NMAC Could Pay $256M For Fraud in Pulling Dealer’s Funding, Jury Finds

May 24, 2017 at 12:19 pm 0 comments

Nissan Motor Acceptance Corp. will pay a former California dealer owner $256.4 million in compensatory and punitive damages for acting in fraud, malice, or oppression in 2009  –when the captive stopped funding the dealer’s loans, a jury in the Orange County Superior Court ruled this week. The court’s decision includesRead More

SPLT Sketches Plans to Add Carshare Model to Prep for Autonomous Future

SPLT Sketches Plans to Add Carshare Model to Prep for Autonomous Future

May 24, 2017 at 9:41 am 0 comments

SAN DIEGO — There is “a lot of money” in fleet management, which is why SPLT is planning another shift in its business model to include carsharing, Kristin Welch, the startup’s head of business development and corporate strategy, said at Auto Finance Innovation 2017 last week. “We are working with aRead More

ThunderRoad Financial Aims to Grow Dealer Base With Upgraded LOS

ThunderRoad Financial Aims to Grow Dealer Base With Upgraded LOS

May 24, 2017 at 9:31 am 0 comments

ThunderRoad Financial launched a “major upgrade” to its loan origination system last week, in an effort to grow its dealer base, Founder and Chief Executive Donal Hummer Jr. told Powersports Finance. The system upgrade — TCI’s DecisionLender 4 — will allow a “host of enhancements specifically targeting the dealer interface and portal,”Read More

Nicholas Financial Adds Review Process Amid Rising Losses

Nicholas Financial Adds Review Process Amid Rising Losses

May 23, 2017 at 12:01 pm 0 comments

Nicholas Financial Inc. has set up a new centralized department to review approved applications from its dealer partners, in order to lower losses in its new static pools, the company announced last week in its fourth quarter earnings for the three months ended March 31. Contracts funded after March 31Read More

SURVEY: AFN Wants to Hear From You

SURVEY: AFN Wants to Hear From You

May 23, 2017 at 10:46 am 0 comments

As an important part of the auto finance community, we are coming to our readers for insights on how we can improve Auto Finance News. Auto Finance News is the industry’s leading news source, dedicated to providing exclusive content on risk management, regulatory compliance, capital markets, nonprime and subprime lending, innovation and mobility,Read More

TFS To Take Compliance Training Mobile

TFS To Take Compliance Training Mobile

May 23, 2017 at 9:45 am 0 comments

Toyota Financial Services is looking to add mobile capabilities to its compliance training courses to accommodate employees’ busy schedules, Linda Iannone, the captive’s chief compliance officer, said last week during a panel at the 2017 Auto Finance Risk & Compliance Summit. “A lot of our executives and team members travel,Read More

EVs to Drive ‘Major Transformation’ in Carsharing, Researcher Says

EVs to Drive ‘Major Transformation’ in Carsharing, Researcher Says

May 23, 2017 at 9:31 am 0 comments

SAN DIEGO — Carsharing is in the early stages of a “major transformation” that will continue over the next decade, driven in part by greater penetration of electric vehicles in carsharing fleets, John Gartner research director at Navigant Research, said during a presentation at Auto Finance Innovation 2017 last week. The electricRead More

Take Your Lease Maturity Management to Higher Automated Ground–ing

Take Your Lease Maturity Management to Higher Automated Ground–ing

May 23, 2017 at 9:30 am 0 comments

For the sixth straight year, auto leasing gained in popularity among consumers.* Lenders and dealers have capitalized on the popularity of leasing by extending millions of contracts to consumers over the last few years.  As momentum for new cars trend upward, leasing continues to shift forward, portfolios grow and aRead More

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