Uptick in auto refinance could hurt dealers’ F&I profits
As interest rates ease from record highs, increased auto refinancing could cut into finance and insurance profits for dealers. Dealers...
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SAFCO inks $100M Deutsche Bank facility, extends CapOne agreement
Indirect subprime lender Southern Auto Finance Co. inked a $100 million warehouse facility with Deutsche Bank this week and extended...
California wildfires contribute to auto insurance hikes, deferrals
Wildfires are contributing to a spike in auto insurance rates in California and payment deferral options from auto lenders. The...
ThunderRoad Financial eyes $100M in 2025 deals
Powersports lender ThunderRoad Financial is eyeing multiple forward-flow agreements in 2025 amid larger efforts to revamp its funding strategy and...
NextGear extends flexible floorplan pricing
Floorplan financing provider NextGear Capital is expanding its flex pricing program to include vehicles beyond those purchased at Manheim auctions...
Manheim used-vehicle values rise 0.4% YoY
December wholesale used-vehicle values rose from 2023 but declined sequentially following year-over-year price declines in every product segment. The...
NMAC eyes completion of receivables system in FY 2025
Nissan Motor Acceptance Co. this year plans to complete the integration of a new loan and lease receivables system to...
Ally to end mortgage originations, cut jobs across company
Ally Financial Inc. will cut jobs, end mortgage originations and consider strategic alternatives for its credit-card business as borrowers have...
Share of 1- to 5-year-old used cars under $20K climbs to 20%
Declining used-vehicle prices contributed to a rise in the volume of 1- to 5-year-old models priced below $20,000 at the...
Podcast: Interest rates separating asset financiers from balance sheet lenders
Global interest rate concerns will test the resolve of equipment financiers in 2025. With dealers right-sizing and reducing fleets to…
Daimler-backed autonomous trucking firm expands
Torc Robotics, an autonomous trucking technology provider and independent subsidiary of Daimler Truck, is expanding its footprint as it works…
