Bianca Chan | Auto Finance News | Page 3 | Auto Finance News - Part 3
Bianca Chan

Bianca Chan

Associate Editor

Bianca is a Seattle-based business journalist who delivers deep market reporting to the automotive finance industry. Previously, Bianca covered local news, education, technology, and worked in advertising as a content writer. She graduated with honors from Carleton University, the most reputable journalism school in Canada, with a Bachelor of Journalism and minors in history and sociology.

Platinum Auto Finance cuts funding time in half

Platinum Auto Finance has cut turnaround time in half since introducing messaging capabilities into its funding and servicing operations, said Director of Servicing Armando Hidalgo. “We needed a solution instead of doing email, faxes and scans,” Hidalgo said. Since implementing Lightico’s technology in April, the subprime lender has used text messaging and mobile capabilities to […]

Chase Auto pilots subscription model, questions scalability

LAS VEGAS — Chase Auto is experimenting in the subscription service space by funding a “cross-product or cross-model” offering, Chief Executive Mark O’Donovan said at the Auto Finance Summit. Chase is providing a wholesale credit line, with the dealership groups running the subscription models, he said. “We’re dabbling in it to try to support our dealer […]

NMAC wins $2.5m in floorplan fraud case

A federal judge has ruled in favor of Nissan Motor Acceptance Corp. after it was determined a used-car dealership defrauded the captive on its floorplan loan by selling vehicles out of trust. Helena, Mont.-based Robert Allen Nissan owes NMAC $2.5 million, plus attorneys fees and costs incurred by NMAC to date, according to a Nov. […]

Carvana posts triple-digit origination growth YOY

Carvana’s originations hit $1.9 billion in the third quarter, a 115% year-over-year increase. Third-quarter revenue increased 105% to $1.1 billion, marking the used-car retailer’s 23rd straight quarter of triple-digit revenue growth. Carvana sold 46,413 retail units, up 83% from the prior-year period. The business of buying cars from customers, an area of focus for the […]

AFS 2019: HyreCar exec pinpoints subscription service challenges and opportunities [Video]

What do delivery pizza and automotive subscription services have in common? HyreCar’s SVP of Strategic Partnerships Brian Allan made the case at the Auto Finance Summit that vehicle subscription services could unlock the potential for consumer adoption with a seamless mobile app, just as Domino’s achieved with pizza delivery 10 years ago. “Domino’s changed the […]

AFS 2019: Chase Auto augments private-label financing business after losing Mazda

LAS VEGAS — Chase Auto is looking to supplement its private-label financing venture with a “new business” focused on strategic partnerships that will leverage the private-label infrastructure, Chief Executive Mark O’Donovan said at the Auto Finance Summit. “We had some unfortunate news that Mazda had let us know a little while ago they’re going to […]
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