Post Tagged with: "Chase Auto Finance"

Stepping Up: How Credit Unions Captured Marketshare Amid Banks Pulling Back

Stepping Up: How Credit Unions Captured Marketshare Amid Banks Pulling Back

July 20, 2017 at 10:30 am 2 comments

Before the great recession, credit unions never offered much in the way of competition to the national lenders in the indirect auto space. Vehicle loans were available only as a “defensive measure” to maintain credit union membership, said Michael Cochrum, vice president of analytics at CU Direct. But that allRead More

Chase Auto Lease Outstandings Rise 41% YoY in 2Q

Chase Auto Lease Outstandings Rise 41% YoY in 2Q

July 14, 2017 at 12:00 pm 1 comment

Chase Auto Finance’s second-quarter lease outstandings increased 41% in the past year to $14.7 billion, the bank announced in its earnings report today. The bank reported higher auto lease incomes but noted that overall non-interest expenses rose in part due to auto lease depreciation. Despite the rise in leasing, total loanRead More

Credit Union Marketshare Nears Record High

Credit Union Marketshare Nears Record High

July 3, 2017 at 10:00 am 2 comments

Credit unions accounted for 20% of the loans and leases outstanding in the first quarter, the highest marketshare notched by CUs since they reached 23.8% share during the financial crisis, Melinda Zabritski, Experian’s senior director of automotive finance, told Auto Finance News. With larger banks like Chase Auto Finance, SantanderRead More

Wisconsin Couple Claim Chase Illegally Repossessed Vehicle

Wisconsin Couple Claim Chase Illegally Repossessed Vehicle

June 28, 2017 at 12:42 pm 1 comment

Chase Auto Finance is being sued for emotional and property damages by a Wisconsin family claiming their car was repossessed after they had satisfied all debts on the vehicle, the plaintiff’s attorneys announced in a press release this morning. The family’s legal representation is asking for a relatively small amountRead More

Chase Avoids Down-Cycle Pressures by Sticking to Credit Strategy

Chase Avoids Down-Cycle Pressures by Sticking to Credit Strategy

June 9, 2017 at 10:00 am 3 comments

Chase Auto Finance is sticking to its strategy and trusting that normalization will run its course, despite the fact that off-lease volume and its effect on used-car values is a stress point, Head of Retail Lending Bruce Jackson told Auto Finance News. “Used-car prices coming down is really good newsRead More

Bill Jensen Comes Out of Retirement to Join Westlake

Bill Jensen Comes Out of Retirement to Join Westlake

May 18, 2017 at 12:00 pm 0 comments

Westlake Financial Services has hired former Chase Auto Finance executive Bill Jensen to develop the lender’s strategic accounts division, the company announced in a press release yesterday. Jensen’s new duties will include analysis of all strategic account relationships to maximize business for dealerships and Westlake, the release stated. “Bill brings overRead More

Auto Balances Top $1 Trillion Again Despite Slowdown, Top 10 Players Poised for Shakeup

Auto Balances Top $1 Trillion Again Despite Slowdown, Top 10 Players Poised for Shakeup

May 15, 2017 at 10:00 am 0 comments

NEW YORK (May 15, 2017) — The auto finance industry had yet another record-breaking year in 2016, once again surpassing $1 trillion in loan and lease outstandings, according to the annual Big Wheels Auto Finance ranking of car lenders and lessors, which has been published annually since 1999, and wasRead More

Chase Auto Originates $8 Billion in First Quarter

Chase Auto Originates $8 Billion in First Quarter

April 13, 2017 at 12:06 pm 1 comment

Chase Auto Finance’s first-quarter originations were down 16.6% year over year to $8 billion in loans and leases, the company announced today. The dip in origination is a reflection of record high auto sales in 2016, according to the company. The auto delinquency rate 30-plus days past due — at 0.93%Read More

Bank of America Competes With Chase Auto for Online Direct Space

Bank of America Competes With Chase Auto for Online Direct Space

April 11, 2017 at 10:27 am 0 comments

Bank of America recognizes that it’s not the first to offer a direct auto lending portal for consumers via an app and website — the bank launched a new pilot program last week — but David Doyle, the company’s consumer bank product and pricing executive, said the lack of a third partyRead More

Chase Ties Ally as Top Bank Auto Lender

Chase Ties Ally as Top Bank Auto Lender

March 3, 2017 at 12:37 pm 0 comments

Among bank auto lenders, Chase Auto Finance has tied Ally Financial as the top lender in the space for the first time since Ally became a bank holding company in 2008, according to full year earnings reports from the companies, compiled by Nasdaq. Both banks virtually tied for total originationsRead More

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