Randolph-Brooks Talks Tech and Why It Won’t Be Using Subscription Services Anytime Soon

A credit union that has built its auto lending brand on building relationships has turned its focus to digital channels. To that end, Live Oak, Texas-based Randolph-Brooks Federal Credit Union has an extensive auto loan portfolio and is looking to improve member experience. This process starts with mobile capabilities, said Sonya McDonald, RBFCU executive vice […]

Technology’s Impact on the Human Element in Auto Lending

Chatbots. Artificial intelligence. Voice prompts. Phone trees. Digital avatars. Truly, technology is advancing at a rapid pace, especially in the retail automotive lending space. One example is the use of automatic approvals to increase loan volume in the dealership. Will technology sound the death knoll to human interaction in the lending office? Or, will it […]

Nissan Dealerships Slapped With $40M Fine for Loan Defaults

Nissan Motor Acceptance Corp. has won its legal battle with a group of Manhattan-based franchise dealerships. The captive is entitled to $40.1 million after the dealerships and their guarantors defaulted on loan obligations, according to court documents. The litigation was sparked by the dealerships initially suing NMAC for a “breach of contract,” the filing notes. […]

Randolph-Brooks Talks Tech and Why It Won’t Be Using Subscription Services Anytime Soon

A credit union that has built its auto lending brand on building relationships has turned its focus to digital channels. To that end, Live Oak, Texas-based Randolph-Brooks Federal Credit Union has an extensive auto loan portfolio and is looking to improve member experience. This process starts with mobile capabilities, said Sonya McDonald, RBFCU executive vice […]

Clutch Expands Porsche Subscription Program to Include Hourly, Weekly Rentals                                   

Following its acquisition of fleet-management company Clutch Technologies, Cox Automotive is broadening its program with Porsche to include hourly and weekly rental rates. The expansion provides insights into the philosophy of Cox’s Mobility Solutions unit as OEMs and dealerships embrace subscription programs, President Vince Zappa told Auto Finance News. “When you start to think of […]

Manheim Adds White Glove Concierge Service to App as Part of $100 Million Investment

Auto auction Manheim is investing $100 million through 2019 to bolster the capabilities of its digital services and apps, the company announced this week. Coinciding with the announcement is the enhanced launch of Manheim Express, a mobile marketplace for wholesale vehicle buyers and sellers. Enhancements will include “full-service concierge service” for app users. Users will […]

Five Questions With… Renee Horne of USAA

Five Questions With is a monthly Q&A segment on AutoFinanceExcellence.org that offers a glimpse of what senior industry executives are thinking about outside the boardroom. Read on to find out. Renee Horne, vice president of consumer lending at USAA Bank Renee Horne, vice president of consumer lending at San Antonio, Texas-based USAA Bank since June 2016, leads […]

Looming Tariff Threat to Lessen New-Vehicle Sales, ABS Volume

MIAMI — Auto ABS is experiencing strong performance this year, but President Donald Trump’s trade war and tariff threat on imported auto parts are expected to prompt a downturn in securitization volume, Jamie Feehely, managing director of securitization at National Bank, said during ABS East last month. “There are no securitizations done that are 100% […]

Lender Halts Originations Amid Florida Attorney General Investigation

Marlin Financial, a Miami-based auto lender, stopped originating auto loans on Sept. 26, as the company undergoes changes to its business practices enforced by the state attorney general, a company spokeswoman told Auto Finance News. “All the recent policy changes [Marlin Financial] is doing, we are going through the attorney general, and that is the […]
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