If you work in auto finance, you’ve heard by now that Toyota Motor Credit Corp. (TMCC) reached a “voluntary” resolution with the Consumer Financial Protection Bureau and the Department of Justice on Tuesday, to address the alleged discriminatory practices in its loan pricing.
February 5, 2016
February 5, 2016
February 5, 2016
February 4, 2016
Veritas Auto Finance LLC, a specialty finance company, is look-ing to enter the securitization market. The news comes in the wake of the Santa Ana, Calif.-based lender’s newly inked $92.5 million revolving credit agreement with Credit Suisse AG, Vince Scardina, Veritas Auto’s chief financial officer, said in a company release.Read More
Wolters Kluwer Financial Services will switch its AppOne indirect loan-origination platform to a totally electronic system by the third quarter, David Mitchell, business development manager for indirect lending, told Auto Finance News.
In the past couple years, credit scores have become “much more meaningful” to the critical task of figuring out which consumers will likely pay their auto loans in the future, and which ones won’t, according to Western Funding Inc. President Guerin Senter. In contrast, credit scores lost some of theirRead More
Aegis Powersports plans to help their dealer partners improve F&I product sales with a series of dealer training seminars, Troy Billen, assistant vice president of Aegis Powersports, told Powersports Finance yesterday.
Meta Gonzalez was appointed vice president portfolio management for MotoLease LLC, a Los Angeles-based powersports finance company, the company announced in September. .
Car Loans Inc. is prepping a program that incorporates loan servicing and marketing, Chief Executive Max Haynes told Auto Finance News.
Toyota Financial Services reached a “voluntary” resolution with the Consumer Financial Protection Bureau and the Department of Justice today, to address the alleged discriminatory practices in loan pricing, the captive announced. According to the agreement, TFS will invest $22 million in a fund to be distributed to affected borrowers. Additionally, TFSRead More
Retail values in the market have revealed only slight pricing-level changes for most segments in the past month.
Ally Financial Inc. reported this morning that its full year auto originations volume for 2015 is unchanged from the same time a year prior, but also reported a 24% growth in used car financing. The lender announced $41 billion in total auto originations in 2015 – flat, compared to 2014 – withRead More
Five months since entering the direct-to-consumer lending space, Prestige Financial Services is bolstering its presence with an updated website. The new site is slated to debut at the end of the first quarter, said Rich Hyde, Prestige’s chief operating officer. “We never had to market to consumers as much before,Read More
Braeger Auto Finance, a Milwaukee-based specialty auto finance company, plans to offer credit cards to subprime consumers at buy-here, pay-here dealerships, Chief Executive David Braeger told AFN. “I am going to be adding credit card servicing because almost all of the buy-here, pay-here and subprime dealers’ websites now provide creditRead More
Borrowers need to know the importance of on-time payments, and what it can do for them, so that lenders won’t have to deal with overdue or defaulting accounts (no one likes that, right?).
Much like the automotive industry, the powersports industry is flooded with preowned inventories, Glenice Wilder, vice president of powersports at EFG Companies, told Powersports Finance on Thursday.