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Westlake Financial's Group President Ian Anderson, senior vice president of  Corporate Development  
Casey Harmon, and vice president of risk management Chris Urban, speak with AFN during a video interview.

Westlake Pushes Forward With Rideshare [Video]

December 2, 2016 at 12:23 pm 0 comments

The future of mobility services is still quite uncertain, but Westlake Financial Services intends to continue investing in these service to be a player in the space no matter what shape it takes, said Casey Harmon, senior vice president of  corporate development at Westlake Financial. “It’s about what models, inRead More

Axis Reports Record-Breaking Originations for Its 1Q

Axis Reports Record-Breaking Originations for Its 1Q

December 2, 2016 at 10:41 am 0 comments

Axis Auto Finance Inc. reported record-breaking loan originations of $5.2 million for its fiscal 2017 first quarter, ended Sept. 30, up 85% from the same quarter last year, according to its earnings report released yesterday. “On an annualized basis, originations are consistent with management’s growth objectives,” according to the report.Read More

Honcker Debuts Leasing App

Honcker Debuts Leasing App

December 2, 2016 at 10:00 am 0 comments

Honcker, a car-buying mobile app — launched Wednesday in New York, New Jersey, Connecticut, Florida, and California — is aimed at bringing car leasing options to users’ fingertips, said Founder and Chief Executive Nathan Hecht. The app acts as a marketplace, connecting customers with local dealerships and their partnered captives and financialRead More

Yamaha Hires 11-Year Remarketing Vet as Collateral Manager

Yamaha Hires 11-Year Remarketing Vet as Collateral Manager

December 2, 2016 at 9:45 am 0 comments

Sandra Giron left LBS Financial Credit Union last month after serving more than 11 years as remarketing specialist to join Yamaha Motor Corp. USA as its collateral manager.

Via CNBC

Trump’s Treasury Secretary: Expanding Lending is ‘No. 1 Priority’

December 1, 2016 at 11:09 am 0 comments

President-Elect Donald Trump has named Steven Mnuchin — a Hollywood producer, Wall Street investor, and former Goldman Sachs chief information officer — as his nomination for Treasury Secretary, and Mnuchin already identified expanding lending as his “number one priority on the regulatory side,” he told CNBC Wednesday. “The number one problem with Dodd-FrankRead More

U Drive Acceptance Scraps BHPH Model

U Drive Acceptance Scraps BHPH Model

December 1, 2016 at 10:50 am 0 comments

U Drive Acceptance Corp. is transitioning into a fully indirect auto lender, from a buy-here, pay-here dealership, said Neil Evans, the company’s director of originations. The company “took birth” in a back office of Big Deal Auto Plaza, but will move into its own office next month, Chief Financial Officer JeremyRead More

Smiling young couple shaking hands with an insurance agent or investment adviser

Originating Engagement: What Consumers Want From Lenders [SPONSORED]

December 1, 2016 at 10:20 am 0 comments

Contrary to popular belief, a recent Fiserv study found that a majority of borrowers are not asking for a completely online experience when it comes to getting their next auto lease or loan. Instead, they’re looking for a more supportive level of engagement with their lender, including the ability toRead More

Yamaha Expands Pre-Owned Program Nationwide

Yamaha Expands Pre-Owned Program Nationwide

December 1, 2016 at 10:00 am 0 comments

Yamaha Motor Finance Corp. has made great strides since its launch last year, including the nationwide expansion of its pre-owned financing program and the addition of 100 dealers to its network — bringing the total to 1,100, said Executive Vice President and Chief Operating Officer Jeff Young.

NY Fed Notes ‘Notable Deterioration’ in Subprime Auto Performance

NY Fed Notes ‘Notable Deterioration’ in Subprime Auto Performance

November 30, 2016 at 3:46 pm 0 comments

There are “signs of distress for loans issued to subprime borrowers” in the auto space, according to an analysis of the latest Quarterly Report on Household Debt and Credit conducted by the New York Fed’s Center for Microeconomic Data. There was “notable deterioration in the performance of subprime auto loans”Read More

Hyundai Launches End-to-End Digital Car Buying Portal

Hyundai Launches End-to-End Digital Car Buying Portal

November 30, 2016 at 12:03 pm 0 comments

Hyundai Motor Co. is launching its own direct-to-consumer fully-digital car buying, financing, and home delivery portal in the UK, the company announced in a press release. Starting January 6, consumers across the pond will be able to buy a vehicle in cash, trade in an old car, and have itRead More

WEBINAR: Digital Lending for Auto Finance: What Do Customers Really Want?

WEBINAR: Digital Lending for Auto Finance: What Do Customers Really Want?

November 30, 2016 at 12:00 pm 0 comments

Digital self-service in banking is not about customer service, but rather, customer engagement – or at least it should be. That’s the upshot from the latest webinar hosted by Center for Auto Finance Excellence entitled Digital Lending for Auto Finance: What Do Customers Really Want?

BREAKING: Kawasaki to Reveal Revolving Credit Partnership ‘Very Soon’

BREAKING: Kawasaki to Reveal Revolving Credit Partnership ‘Very Soon’

November 30, 2016 at 10:00 am 0 comments

Kawasaki Motors Corp. USA is on the verge of announcing a revolving credit partnership, following the official expiration of its current partnership with Capital One Financial Corp., according to an internal dealer memo sent to Powersports Finance yesterday.

GMF Expands in Texas With New Operations Hub

GMF Expands in Texas With New Operations Hub

November 29, 2016 at 12:54 pm 0 comments

General Motors Financial Co. completed a new addition to its Arlington Operations Center campus in Arlington, Texas, the company said in a press release today. The $35 million investment is GMF’s fourth office location in the city of Arlington, and will house 1,300 employees working in core functions such asRead More

Baseball Statistics Provide Lessons for Auto Finance Industry

Baseball Statistics Provide Lessons for Auto Finance Industry

November 29, 2016 at 11:50 am 0 comments

The auto finance industry should not only embrace data, but be willing to completely tear down the old ways of thinking to come up with innovative ways of analyzing that data, said Rod Arends, vice president of World Omni Financial Corp., at Used Car Week’s Subprime Forum. Data has “matteredRead More

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