Five companies — Mercedes-Benz Financial Services, Hyundai Capital America, Hyundai Motor Finance, Security Service Federal Credit Union, and Consumer Portfolio Services Inc. – were given Auto Finance Excellence Awards at the 2016 Auto Finance Summit. The companies were recognized for their various achievements in the auto finance sector during a special ceremony held Thursday.
HCA was recognized for its community service through its Financial Futures volunteer program — a partnership with the National Foundation for Credit Counseling-member agencies in Orange County, Dallas, and Atlanta. Through this program, the captive’s employees volunteer to teach financial literacy to at-risk youth and young adults in the community.
Mercedes Benz Financial Services was also recognized for its innovation initiative, which includes creating its Digital Transformation Office (DTO) in October 2015. The DTO is dedicated to accelerating the company’s vision of providing a first-class digital experience for dealers and customers. The center now consists of more than 25 employees tasked with innovating, incubating, and accelerating digital customer experiences for DFS Americas.
Charles Bradley, chief executive of Consumer Portfolio Services, was recognized for his leadership over more than 25 years. Bradley has led CPS — an independent auto subprime company — to consistent profitability through three down credit cycles. Bradley also participated in a fireside chat at the summit where he spoke about his experience at CPS and his current views of the auto finance industry.
HCA’s Hyundai Motor Finance took the award for top nonprime lender, while Security Service FCU won top prime lender, according to the results of the Auto Finance Performance (AFP) survey. The AFP is a data query conducted by Auto Finance News’s sister company, Auto Finance Advisors. The survey quantifies and ranks lenders on service, pricing, representatives, and products — the four broad categories that drive dealers’ decisions about financing.
