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Utah Credit Union Expands Down Credit Spectrum to Manage Yield

Utah Credit Union Expands Down Credit Spectrum to Manage Yield

June 27, 2017 at 11:27 am 0 comments

Utah-based Mountain America Credit Union is looking down the credit spectrum to diversify its portfolio with more nonprime and subprime loans amid increased competition in the Utah market, Jade Beckman, vice president of consumer loans, told Auto Finance News. The credit union’s portfolio is roughly 80% prime and super-prime loans,Read More

Harley Declines to Disclose Financial Info, Despite Regs

Harley Declines to Disclose Financial Info, Despite Regs

June 27, 2017 at 10:00 am 0 comments

Harley-Davidson Financial Services is refusing to disclose the materials presented at a recent investor conference. HDFS, a subsidiary of publicly traded Harley-Davidson Inc., presented earlier this month at the American Financial Services Association’s 27th Credit Summit for Fixed Income Investors in New York. Powersports Finance made an official request for a copyRead More

VW’s Uphill Battle: Can the Captive Overcome the Emissions Scandal?

VW’s Uphill Battle: Can the Captive Overcome the Emissions Scandal?

June 27, 2017 at 9:45 am 0 comments

One of the many considerations Eithne Higgins weighed when purchasing her 2010 Volkswagen Seat Leon was its resale value. Yet, after the multi-billion dollar emissions scandal broke in 2015, Higgins claims she went to several dealers to try and sell her car. But no one would bite once they foundRead More

More Research Is Required on Gen Z Market, Panelists Advise [VIDEO]

More Research Is Required on Gen Z Market, Panelists Advise [VIDEO]

June 27, 2017 at 9:45 am 0 comments

It is a “toss up” whether or not Generation Z consumers will want to own their own car, but given this generation will represent 40% of the market in the U.S. by 2020, more research needs to be done, said Miranda Hill, director of innovation and commerce strategy at ThoughtWorks. Gen Z,Read More

Early Evidence of a Down June

Early Evidence of a Down June

June 27, 2017 at 9:30 am 0 comments

Reports are coming in today that suggest June will be a down month for car sales in the United States. According to estimates, the SAAR for the month could be 2.3% to 3.6% lower. Here’s an excerpt from the LMC Automotive/J.D. Power forecast via Seeking Alpha: The LMC Automotive/J.D. PowerRead More

Westlake Said to be Prepping Subprime Used Leasing

Westlake Said to be Prepping Subprime Used Leasing

June 26, 2017 at 12:30 pm 0 comments

A Westlake Financial Services executive said last week that the company has plans to launch a subprime, used-vehicle leasing program potentially before yearend. Earlier this month, the lender acquired Credit Union Leasing of America (CULA), which originates lease contracts through its technology, but leaves the servicing and money factor for theRead More

Ford Credit Shows More Profit Stability Than GMF, Moody’s Says

Ford Credit Shows More Profit Stability Than GMF, Moody’s Says

June 26, 2017 at 12:15 pm 0 comments

Despite shared profitability challenges, Ford Credit has greater portfolio stability than General Motors Financial (GMF), Moody’s says in a report released this morning. Ford Credit’s annualized growth was 9.2% as of March 31, compared with GMF at 29.4% as of March 31. However, with GMF selling its European business to France’s PSARead More

Navy Federal Grows 2017 Originations Beyond Expectations

Navy Federal Grows 2017 Originations Beyond Expectations

June 26, 2017 at 12:00 pm 0 comments

Navy Federal Credit Union is growing origination volume at a faster pace than it expected for the year, in part due to pullback from larger banks, Joseph Pendergast, Navy Federal’s vice president of consumer lending, told Auto Finance News. “We’ve had a great start to the year,” he said. “Five months,Read More

New Webinar Offers Tips to Make Compliance Training Fun

New Webinar Offers Tips to Make Compliance Training Fun

June 26, 2017 at 10:10 am 0 comments

Making compliance training fun seems impossible — and expensive — but there are simple ways to alter training initiatives to engage employees without breaking the bank. That’s the upshot from the latest webinar hosted by the Center for Auto Finance Excellence entitled “Can Compliance Be Fun? Tips & Tools toRead More

Las Vegas Dealer to Partner with Marine One for Nonprime

Las Vegas Dealer to Partner with Marine One for Nonprime

June 26, 2017 at 9:30 am 0 comments

Freedom EuroCycle Las Vegas is set to partner with nonprime lender Marine One Acceptance Corp. by mid-July, John Hollywood, the dealership’s finance and business development manager, told Powersports Finance. The dealership is aiming to accommodate nonprime consumers, an underserved and high-demand market, he said, and Marine One even serves after-bankruptcyRead More

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