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U.S. Bank Originations Climb 4.7% Amid Continued Focus on Prime

U.S. Bank Originations Climb 4.7% Amid Continued Focus on Prime

October 18, 2017 at 12:58 pm 0 comments

U.S. Bancorp grew its auto originations 4.7% year over year to $18 billion, driven by “high-quality originations in the indirect channel,” the company disclosed in its third-quarter earnings report. “We do have levers in the prime space and that continues to give us loan growth regardless of what’s going inRead More

DBRS Highlights New Asset-Level Data in Auto ABS Transactions

DBRS Highlights New Asset-Level Data in Auto ABS Transactions

October 18, 2017 at 12:30 pm 0 comments

Independent rating agency DBRS detailed an in-depth look at new asset-level data provided within its database of publicly issued auto ABS transactions — and the risks associated with these pools — in a report released this month. Starting in November 2016, lenders issuing public auto ABS transactions were required toRead 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

3 Benefits of Using End-of-Lease Independent Vehicle Inspections

3 Benefits of Using End-of-Lease Independent Vehicle Inspections

October 18, 2017 at 9:00 am 0 comments

When it comes to the end of a vehicle’s lease, all involved — lender, dealer, and lessee — appreciate when the turn-in experience is a pleasant one. Third-party vehicle inspections can go a long way toward ensuring that happens. End-of-lease independent vehicle inspections have become increasingly popular for bringing efficiencyRead More

GM Financial's San Antonio Collections Center

GM Financial Supports Growth With New Texas Service Center

October 17, 2017 at 12:09 pm 0 comments

General Motors Financial Co. is hosting a grand opening event on Thursday for its San Antonio service center, which will house up to 700 new jobs in the region, the company announced in a press release. The 100,000-square-foot facility has already added 200 jobs in the area, joining the otherRead More

HDFS Originations Decline 7.5% as Losses Continue to Stabilize

HDFS Originations Decline 7.5% as Losses Continue to Stabilize

October 17, 2017 at 12:00 pm 0 comments

Harley-Davidson Financial Services originated $817.5 million in motorcycle loans — down 7.5% year over year — in the third quarter, according to the OEM’s earnings call today. Originations were also down 3.3% year-to-date to $2.5 billion, as compared to the prior-year period. Meanwhile, retail and wholesale third-quarter outstandings were nearlyRead 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

Automotive Credit Corp. Acquires Lender, Expands Credit Facility

Automotive Credit Corp. Acquires Lender, Expands Credit Facility

October 17, 2017 at 10:30 am 0 comments

Subprime lender Automotive Credit Corp. (ACC) is focused on “organic growth” after completing its acquisition of Top Finance Company Inc. in late September, John Cavanaugh, chief financial officer of ACC, told Auto Finance News. “We will work on integrating the two companies, and we expect that to go very well,”Read More

Via Shannon Clark/ Flickr

Bank of America Grows Prime Portfolio 6% in 3Q

October 16, 2017 at 12:30 pm 0 comments

Bank of America grew its auto portfolio by 6% year over year in the third quarter, despite rising charge-offs across the industry and an increasingly competitive prime marketplace. Average auto loans and leases outstanding climbed to $52 billion in the quarter, compared with $49 billion during the same period theRead More

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