Articles by: Emma Sandler

Polestar 1 white exterior, front

Volvo Eyes Financial Services for Future Growth

October 23, 2017 at 11:00 am 0 comments

Volvo Financial Services is still an “untapped potential” for Volvo Group and is key to deepening the relationship with customers, Chief Executive Martin Lundstedt said in the OEM’s third-quarter earnings report last Friday. “Volvo Financial Services delivered a good return on equity with low credit losses,” he said. “Financial services areRead More

Via Daimler Financial Services

Daimler Sees Financing Uptick in China, but Declines in the Americas

October 20, 2017 at 12:15 pm 0 comments

Daimler Financial Services reported a decrease in leasing and loan contracts in the Americas, but saw a “significant” increase in China — in addition to growth in its mobility services sector, according to the company’s third-quarter earnings released today. “Daimler Financial Services anticipates significant growth in new business and furtherRead More

Santander’s $1.5 Billion ABS Includes New Underwriting Exceptions

Santander’s $1.5 Billion ABS Includes New Underwriting Exceptions

October 19, 2017 at 12:18 pm 1 comment

Santander Consumer USA’s latest securitization of deep-subprime auto loans is the first ABS to include originations under the lender’s new underwriting exceptions policy, according to a presale report by Moody’s Investor Service. The $1.5 billion transaction — Drive Auto Receivables Trust 2017-3 — is Santander Consumer’s (SC) third securitization ofRead More

Prime Recoveries Decline as Losses Rise, S&P Report Finds

Prime Recoveries Decline as Losses Rise, S&P Report Finds

October 18, 2017 at 11:00 am 1 comment

Prime recoveries fell to 50.3% in August, from 54.9% the same time a year prior, according to S&P Global. “In our view, lower prime recovery rates have been due to myriad factors,” S&P wrote in its August U.S. Auto Loan ABS Tracker, including a 16% increase in off-lease vehicle volume thisRead More

MotoLease Implements Twice-Monthly Subprime Payment Plans

MotoLease Implements Twice-Monthly Subprime Payment Plans

October 18, 2017 at 9:30 am 0 comments

LOS ANGELES — Starting in December, MotoLease LLC will roll out a twice-a-month payment structure for subprime lessors, Chief Executive and co-Founder Maurice Salter told Powersports Finance at the company’s dealer training seminars earlier this month. “All subprime credit customers will be required to have bi-monthly payments, which helps with budgeting for smaller paymentRead More

Mercedes-Benz GLA 250 4MATIC, AMG Line, Mountaingrau magno, Studioaufnahme ;Kraftstoffverbrauch kombiniert: 6,5 l/100 km, CO2-Emissionen kombiniert: 152 g/km

Mercedes-Benz GLA 250 4MATIC, AMG Line, mountain grey magno, studio shot; Fuel consumption combined:  6.5 l/100 km; Combined CO2 emissions: 152 g/km

Daimler AG Prepares for Corporate Overhaul

October 17, 2017 at 11:00 am 0 comments

Daimler AG provided more insight into plans for its largest corporate overhaul in a decade, giving more independence to Mercedes-Benz Cars & Vans, Daimler Trucks & Buses, and the existing legally independent Daimler Financial Services AG, the company said Monday in a statement. While the overhaul was first proposed in July, neither the BoardRead More

Via SeniorLiving.org

Bank of the West Issues First Auto ABS Since 2015

October 16, 2017 at 11:30 am 0 comments

Bank of the West closed its first auto asset-backed-securitization since 2015 last week, a $750 million transaction backed by prime retail installment contracts, according to a presale report by Moody’s Investor Service. Fifth Third Bancorp — which has also not securitized since 2015 — issued a $1 billion ABS that closedRead More

PNC Reports Rise in Delinquencies Due to Hurricanes

PNC Reports Rise in Delinquencies Due to Hurricanes

October 13, 2017 at 11:26 am 1 comment

PNC Financial Services Group Inc. reported a “moderate impact” on auto delinquencies in the third quarter due to the recent hurricanes, according to the bank’s earnings call today. Auto loans 30 to 59 days past due rose 87% to $71 million from the same time the year prior. The increase wasRead More

Chase Charge-Offs Rise 47% Amid One-Time Change in Reg Guidance

Chase Charge-Offs Rise 47% Amid One-Time Change in Reg Guidance

October 12, 2017 at 12:33 pm 2 comments

Chase Auto Finance’s charge-offs climbed to $116 million in the third quarter, up from $79 million the same time the year prior, following a change in the treatment of customer bankruptcies, according to the bank’s earnings call today. “Auto charge-offs included approximately $50 million of a catch-up reflecting regulatory guidanceRead More

Porsche Launches Luxury Subscription Service

Porsche Launches Luxury Subscription Service

October 11, 2017 at 11:30 am 0 comments

Porsche Cars North America Inc. debuted Porsche Passport, a new sports car and SUV month-to-month subscription program, adding to a growing list of luxury automakers entering the subscription space. The new program allows subscribers to frequently exchange vehicles or keep them for as long as they like. The service includes unlimitedRead More

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