With just one week to go before the nomination period ends, now’s the time to recommend executives and companies for the 2012 Auto Finance Excellence Awards, which celebrate achievement in the auto lending and leasing arena.
These awards recognize executives or companies that have made the greatest contribution to the auto lending and leasing industry in the past year. The awards will be announced at the Auto Finance Summit 2012 in late October and in Auto Finance News.
Executives or companies may be nominated for their:
• Overall lifetime achievements and/or contributions to the advancement of automotive financing;
• Charitable and/or community activities;
• Specific innovations in product development, management, and/or strategy; or
• Involvement in specifically noteworthy deals and/or joint ventures.
Submit nominations at www.AutoFinanceExcellence.com until Sept. 21.
Marcie, I let 5 hours pass to see if anyone had any thoughts on this. This is a sad transaction for the finance industry. Predatory payroll lenders are now getting a foothold around a vulnerable market – auto financing for young soldiers. Are these not the same people with offices surrounding the military bases and currently exploiting soldiers at rates that would make a loan shark blush?
How about you asking what the interest rate spread is now and mark your calendar to ask what it is after this deal is done and some “time” has passed?
The miltary does a poor job of preparing young soldiers for finance traps. They do have classes (after the fact) for those that have been trapped.
How is this good for the American soldier? Who is looking out for them?
FYI, any difference between the borrower rate and this company that is greater than 2%, means that they are allowing the dealer to really partner in the exploitation. And because soldiers are always being transfered, the dealer does not care because he does not expect repeat business anyway.