Subscription Service Revolve Carves Out Niche in Luxury Space

Asoka Veeravagu, chief executive of the Florida- based luxury car subscription platform Revolve, envisions a future with many competitors in the car subscription space, not just one solution that dominates the market, he told Auto Finance News. “When you look at the size of the industry — in the U.S. new and used annual [financing] […]

Nominations Close Tomorrow for Excellence Awards

Tomorrow is the deadline to submit nominations for the 2018 Auto Finance Excellence Awards. Held annually since 2005, the award recognizes executives and companies that have made great contributions to auto lending and leasing in the past year. Among other accomplishments, executives or companies may be nominated for: Notable acquisitions that have changed the auto finance landscape […]

China Poised to ‘Leapfrog’ Leasing In Favor of Subscriptions

SHANGHAI — Much in the same way the Chinese economy has bypassed widespread usage of credit cards in favor of mobile payments such as WeChat, there is speculation that Chinese auto lenders could “leapfrog” traditional leasing in favor of subscription models, Sebastian Pfeifle, a partner at Deloitte, said at the Auto Finance Summit Asia. Leasing […]

Ally Exec Outlines How Lenders Can Navigate the Challenges of Unintentional Bias

Though regulators have relaxed discriminatory lending rules, auto lenders are stepping up diversity education. Ally Financial, for one, is bolstering training efforts to reduce unintentional snap judgments based on race, gender, or appearance – a concept referred to as “unconscious bias.” In this episode of The Roadmap, Auto Finance Excellence talks with Reggie Willis, Ally’s […]
  • Nicole Casperson
  • September 19, 2018
  • Strategy

HCA, NMAC Battle Dealership Fraud

Hyundai Capital America and Nissan Motor Acceptance Corp. accused a dealer group with operations across Pensylvania and Michigan of failing to repay floorplan loans and selling $10.5 million worth of vehicles out of trust, according to court documents. The dealerships include Hazleton Hyundai and Hazleton Kia in Hazle Township, Pa. Additionally, NMAC filed lawsuits against […]

Auto Equity Lender Under Florida Attorney General Investigation

Marlin Financial, a Florida-based lender that offers auto equity loans as a “great alternative to title loans,” is being investigated for consumer protection violations by the Florida Attorney General’s office. The investigation was sparked by a Tampa Bay Times story unearthing a pattern of consumers claiming they were charged interest rates that exceed the state […]

U.S. Bank Improves Auto Decisioning to Compete in Tight-Margin Business

SHANGHAI — U.S. Bank increased its auto decisioning capabilities and improved efficiencies in its sales team earlier this year to reduce expenses and continue to grow the business, said John Hyatt, executive vice president of dealer services. The comments came as part of a panel discussion at the Auto Finance Summit Asia, in which Hyatt […]

Increased Consumer Awareness of Depreciation Costs to Boost Subscriptions

The depreciation of a new vehicle and its hidden costs for consumers could drive the market further toward subscription services. “The market today is in good time [for consumers] to think about [subscription services] as an alternative,” Jonathan Banks, vice president of vehicle valuations and analytics at J.D. Power, told Auto Finance News. Depreciation can […]

Credit Unions Flourish as Interest Rates Rise, Auto Count Data Shows

Credit unions are taking advantage of the rising interest rate environment as some have grown loan volumes in their state by more than 50% year over year, according to Auto Finance News’ analysis of Experian’s July AutoCount data. Namely, Security Service Federal Credit Union grew its Texas loan originations by 69% year over year to […]
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