In May, Auto Finance News learned ahead of the official announcement that GO Financial would close its doors and stop originating new auto loans. It spurred several follow-up stories and was by far AFN’s most read story of 2016.
GO Financial’s investors — including 51% ownership by Ernest Garcia Sr., and DriveTime Chief Executive Ray Fidel — decided to focus their resources and capital into “other core business units,” according to documents obtained by AFN at the time.
It resulted in several follow up stories including how GO Financial’s closing would ultimately not affect Carvana’s lending practices.
It’s no surprise that the 2016 election would dominate headlines as well. Aside from the day-after coverage, AFN also followed up with several analytical pieces examining how a Trump presidency will impact the industry over the next four years from the Consumer Financial Protection Bureau, to the Treasury.
Read more of the year’s top stories below, including the Beepi shutdown, and Lending Club’s bid on auto refinance.
- BREAKING: GO Financial to Shut Down Tomorrow
- Trump Elected: Effects on CFPB, Dodd-Frank Unknown, For Now
- Auto Loans on the Horizon for Lending Club
- Santander Adds to Deep Subprime Pipeline
- Toyota Financial Services Overtakes Ally as No. 1 Financier
- General Motors Puts Focus on Growing Its Finance Business
- Rising Subprime ABS Losses ‘Vary’ by Lender, Moody’s Says
- Fitch: Subprime Auto Delinquency Levels Reach Two-Decade High
- ‘Usage-based’ Model on Horizon for Auto Finance
- Beepi Shuts Down, Fate of Financing Partnerships Unclear
