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CarMax Auto Finance adjusted its underwriting standards and increased its credit loss provisions last quarter amid “unfavorable performance” and an uncertain macroeconomic environment. Provisions for credit losses increased 80% year over year to $98 million in its fiscal fourth quarter ending Feb. 28, up from $58 million in the same reporting period last year. Allowance […]
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Auto lender Arivo Acceptance wanted to develop new software faster, so it enlisted a group mainly comprised of interns with...
Extra-long car loans can lower consumers’ monthly payments, but they also keep dealers from selling vehicles to those customers for...
Alternative asset management firm Bayview Asset Management in the past five years has purchased about $25 billion in auto collateral through bulk...
Luxury vehicle dealerships are fighting a rapidly growing scam in which fraudsters impersonate delivery companies to steal vehicles. Kalamazoo, Mich.-based...
David Thompson
David Thompson
David Thompson
