All Posts

Flat Fees and Parallels: 2 Takeaways From Toyota’s Settlement Case

Flat Fees and Parallels: 2 Takeaways From Toyota’s Settlement Case

February 5, 2016 at 11:39 am 0 comments

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.

Veritas Auto to Tap Auto ABS Market

Veritas Auto to Tap Auto ABS Market

February 5, 2016 at 10:35 am 0 comments

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 Platform to Go Paperless by 3Q

Wolters Kluwer Platform to Go Paperless by 3Q

February 5, 2016 at 10:29 am 0 comments

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.

Credit Scores Regain Relevance As Economic Recovery Continues

Credit Scores Regain Relevance As Economic Recovery Continues

February 4, 2016 at 11:00 am 0 comments

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 to Offer F&I Training to Dealers

Aegis Powersports to Offer F&I Training to Dealers

February 4, 2016 at 10:09 am 0 comments

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 Named New VP at MotoLease

Meta Gonzalez Named New VP at MotoLease

February 3, 2016 at 11:35 am 0 comments

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. Rolls Out BHPH Dealer Program

Car Loans Inc. Rolls Out BHPH Dealer Program

February 3, 2016 at 9:22 am 0 comments

Car Loans Inc. is prepping a program that incorporates loan servicing and marketing, Chief Executive Max Haynes told Auto Finance News.

Toyota Financial Reached $22M Agreement with CFPB and DOJ

Toyota Financial Reached $22M Agreement with CFPB and DOJ

February 2, 2016 at 6:32 pm 1 comment

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

A ‘Warmer Winter’ Keeps Vehicle Values Flat

A ‘Warmer Winter’ Keeps Vehicle Values Flat

February 2, 2016 at 12:24 pm 0 comments

Retail values in the market have revealed only slight pricing-level changes for most segments in the past month.

Ally is ‘Comfortable’ in Used Market

Ally is ‘Comfortable’ in Used Market

February 2, 2016 at 11:10 am 0 comments

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

Prestige to Launch Full Digital Package for Direct Customers

Prestige to Launch Full Digital Package for Direct Customers

February 2, 2016 at 10:06 am 0 comments

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 to Add Credit Card Services

Braeger Auto Finance to Add Credit Card Services

February 1, 2016 at 12:30 pm 0 comments

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

How Prestige Helps Borrowers Move Up the Credit Ladder

How Prestige Helps Borrowers Move Up the Credit Ladder

February 1, 2016 at 12:13 pm 0 comments

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?).

EFG Companies Predicts Increase in Used-Bike Demand

EFG Companies Predicts Increase in Used-Bike Demand

February 1, 2016 at 12:00 pm 0 comments

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.

Slot F