Rifco National Auto Finance is expecting double-digit growth in originations again during its second quarter, which will end Sept. 30, Vice President and Chief Marketing Officer Doug Decksheimer told Auto Finance News.
Rifco “met its expectation” in terms of originations in its first quarter ended June 30, and the Canadian lender is expected to grow “even bigger” during 2Q17, Decksheimer said.
“For the second quarter, I project a double-digit, year-over-year growth in originations — at least 10%,” he said. The company reached CAD $29 million in originations in the first quarter, up 13% year over year from 1Q16, according to the company’s earnings.
Rifco is located in Alberta, a province in Western Canada. The auto market — due to a stagnant economics environment over the past two decades — is very small in that area, which Decksheimer thinks may become a challenge for Rifco. However, he remains optimistic.
“We have always been dedicated to providing good loans for our customers,” he said. “We continuously strive to improve the consumer experience through marketing and tech efforts, and we are doing very well in this competitive space.”
Decksheimer will give a presentation entitled “Strategies for Enhanced Dealer Relationships” at the 17th annual Auto Finance Summit, which will take place on Oct. 25-27 at the Wynn Las Vegas. The session will cover best practices for dealer enrollment, strengthening dealer relationships by building a loyalty program, and more.
To learn more about this year’s event — or to register — visit the Summit’s homepage here.
