Articles by: Auto Finance News

Mobility Buzz — New Mobility Media Venture — Launches Today

Mobility Buzz — New Mobility Media Venture — Launches Today

January 23, 2017 at 11:26 am 0 comments

The auto finance industry is inevitably shaped by the automotive industry, and in the past year, mobility has become the most crucial innovation driver of the global transportation industry. Mobility is not just disrupting traditional transportation, but altering the way people and things move around a connected, digital, social-networked world.Read More

Compliance Insider: Is the CFPB Over?

Compliance Insider: Is the CFPB Over?

January 11, 2017 at 10:30 am 0 comments

Judging by the direction of the stock market and the financial trade press, Nov. 9 brought great relief to business in general, and to financial services providers particularly. Conventional wisdom is that regulation will decrease, both in content and in fervor of enforcement. Some predict that the Consumer Financial ProtectionRead More

AutoGravity Launches App, Adds Financing Partners

AutoGravity Launches App, Adds Financing Partners

December 16, 2016 at 10:00 am 1 comment

AutoGravity, a car-buying and financing platform, rolled out its mobile app yesterday, completing a four-month beta launch. The startup also added three lender-partners, which will be offering financing and leasing to consumers in California. The platform enables consumers to search vehicle inventory from dealers nationwide and apply for financing. Previously,Read More

PolySync to Democratise Autonomous Research with Open Source Platform

PolySync to Democratise Autonomous Research with Open Source Platform

December 12, 2016 at 10:30 am 0 comments

In the tech world, open-source software is an increasingly popular model for developers to share and learn through collaboration, and thus drive innovation. Not so much in the auto world. But a Portland, Ore.-based software startup is set to change that.

Collaborate to Innovate Mobility, Expert Says

Collaborate to Innovate Mobility, Expert Says

December 9, 2016 at 10:30 am 0 comments

Cross-pollination between tech companies and auto manufacturers is no longer optional, it’s a “necessary,” Michael Macauley, chief executive of Quadrant Information Services, cautioned. “As cars become devices that we drive or don’t drive, and devices become more integrated with our transportation experience across modes,” the two industries need to learnRead More

Security Service Credit Union Takes Top Spot in Dealer Ranking

Security Service Credit Union Takes Top Spot in Dealer Ranking

October 24, 2016 at 11:00 am 0 comments

For the second straight year, Security Service Credit Union took the top spot in overall performance in an exclusive ranking of dealer preferences about the finance providers they use. The survey, called the Auto Finance Performance (AFP) data query and conducted by Auto Finance News, quantifies and ranks lenders onRead More

And So It Begins — The Subprime Realignment

And So It Begins — The Subprime Realignment

June 28, 2016 at 10:00 am 0 comments

So, GO Financial and now, Dealer Funding has taken the brave steps to stop competing in what has been a very hot, and many say overly competitive, subprime automobile market for the past  five years.  You may be able to add Westlake Financial’s captive Western Funding to the list, whereRead More

Beepi Launches Leasing Program

Beepi Launches Leasing Program

April 20, 2016 at 12:45 pm 1 comment

Beepi’s used-car leasing program — announced today — is now live nationwide. The car buying platform launched the leasing program  in collaboration with Ally Financial Inc. and the lender’s new SmartLease product, launched in late March. “It’s a move we’re excited about, because we know that offering leases will enable BeepiRead More

Huntington Auto Originations Soar 30% YoY

Huntington Auto Originations Soar 30% YoY

April 20, 2016 at 12:30 pm 0 comments

Huntington Bancshares Inc. reported double-digit growth in auto loan and lease originations, hitting $1.4 billion in the first quarter of 2016, the company reported this morning. Originations were up 30% from the same time a year prior, and up 6% from 4Q15. The originations were comprised of 46% new cars, down fromRead More

Hyundai Capital Canada Will Launch Dealer Portal

Hyundai Capital Canada Will Launch Dealer Portal

April 19, 2016 at 11:30 am 0 comments

Hyundai Capital Canada Inc. is getting up-to-speed with its digital offerings. The Canadian captive partnered with U.S.-based ChannelNet to create a dealer portal and customer lifecycle management program, the companies announced this morning. Through the partnership, ChannelNet will build a “self-service, one-stop” digital portal for Canadian Hyundai and Kia dealers. “The portal will provideRead More

Mobility Trends Set to Transform Auto Finance

Mobility Trends Set to Transform Auto Finance

April 15, 2016 at 11:50 am 0 comments

Consumers’ rapid shift to mobile devices has shaped their expectations of products and services in their day-to-day lives. Mobility trends have certainly penetrated the car market, and are on the way to changing the auto financing model too, experts say.

Wells: Growth in Auto Volume, With Subprime Steady

Wells: Growth in Auto Volume, With Subprime Steady

April 14, 2016 at 12:25 pm 1 comment

Wells Fargo & Co. reported a 9% year-over-year increase in total auto originations, hitting $7.7 billion in the first quarter of 2016. The auto volume is up 2% from 4Q15, the bank said this morning. “Our auto portfolio has grown consistently, reflecting the strong auto market,” John Shrewsberry, the chief financialRead More

BofA Auto Originations Soar 35%

BofA Auto Originations Soar 35%

April 14, 2016 at 12:22 pm 0 comments

Bank of America reported double-digit growth in its auto loan origination volume this morning — up 35% both on a year-over-year and quarterly basis, totaling to $7.7 billion, the bank said. BofA also reported a $45 billion total auto portfolio, up 15% from $39 billion in 1Q15. The company said it remainsRead More

Citizens Bank’s ‘Slack-Like’ System Helps Onboard Customers

Citizens Bank’s ‘Slack-Like’ System Helps Onboard Customers

April 13, 2016 at 12:31 pm 0 comments

LAS VEGAS – Citizens Bank integrated a “Slack-like” communication model to further digitize the onboarding process for customers, according to Mary Fiorille, the bank’s head of consumer unsecured lending business. Slack is a messaging application, widely used across thousands of workplaces. “For Citizens, it’s as much about the product, as it is about theRead More

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