Chinese E-Commerce Company Debuts Auto Finance Business

Qudian Inc., a Chinese e-commerce business that provides cash credit products via mobile technology, extended its business into the auto finance sector. The company allows borrowers to apply for credit on their mobile phones and receive approval within seconds, according to a company press release. Approved borrowers are then able to draw down on their […]
  • Emma Sandler
  • January 18, 2018
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Peer-to-Peer Carshare Launches With Focus on Luxury

Ryde Inc., a new peer-to-peer carsharing startup, launched its service last week with an emphasis on luxury vehicles, to distinguish itself among a growing mobility marketplace, Founder and Chief Executive Thanura Yapa told Auto Finance News. Luxury car owners can register their vehicles into Ryde’s fleet for others to pick up and rent. In the next […]
  • Emma Sandler
  • January 17, 2018
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Tesla Lending Rates Jump for Second Straight Quarter

After Tesla Inc. increased the interest rate on Model S and Model X vehicles in the fourth quarter of last year, the company has again increased the interest rate for the second quarter in a row — this time by 100 basis points. In 3Q17, the electric car manufacturer’s U.S. interest rate was 0.99%, before jumping […]
  • Emma Sandler
  • January 11, 2018
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GM Financial Offers First ABS of 2018

GM Financial started off the new year with the first auto ABS deal across the industry, and the securitization at $1.3 billion of prime loans is also the captive’s first public deal in the Consumer Auto Receivables shelf. Overall the Consumer Automobile Receivables pool is the fourth securitization of prime quality retail installment auto loan contracts […]
  • Emma Sandler
  • January 9, 2018
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S&P Predicts Slower ABS Growth Amid Vehicle Sales Decline

The auto loan securitization market is expected to grow to $76 billion this year, compared with $72.5 billion in 2017, which represents a slowdown that tracks with declining auto sales, according to a report from S&P Global Ratings. New-vehicle sales ticked down to 17 million units in 2017, compared with 17.4 million in the year […]
  • Emma Sandler
  • January 5, 2018
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Vehicle Sales Fall for First Time in 7 Years

The sales downturn that lenders have been anticipating for some time has arrived. Manufacturers on Wednesday reported a decline of about 1.8 percent in 2017 new vehicle sales, to 17.2 million cars and light trucks, following a seven-year streak of growth. U.S. auto sales for 2018 are further forecasted to drop to 16.5 million units, according […]
  • Emma Sandler
  • January 4, 2018
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Nissan Introduces Brain-to-Vehicle Technology [Video]

With the Consumer Electronics Show (CES) approaching, automakers are showing off their latest technological advancements in autonomous vehicle research, including Nissan’s new brain-to-vehicle technology. Brain-to-vehicle, or B2V, is the concept of a car anticipating your driving reactions even before you have the chance to start turning the wheel or applying the brake. This neural interface, […]
  • Emma Sandler
  • January 4, 2018
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Hyundai Capital Adds Business-Focused Mobility Services

Hyundai Capital, the financing arm of Hyundai Motor Group, has added a car-sharing service in South Korea to its growing portfolio of mobility offerings. The new service, called “Deal Car” or “Delivery Car” started a beta program in early September with a goal of pursuing “shared growth” with small and medium-sized business, the company said in […]
  • Emma Sandler
  • January 2, 2018
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Auto Credit Poised to Grow Despite Sales Drop in 2018, Analyst Says

Morgan Stanley is expecting an “unprecedented” expansion of auto credit for the upcoming year, Equity Analyst Adam Jonas said in a recent Morgan Stanley report. Part of the rationale for this expansion is that U.S. auto sales are forecasted to drop 5% to 16.5 million units. Extending more loans — via new products, markets, or […]
  • Emma Sandler
  • January 2, 2018
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Wells Fargo’s Collections Team Merge Tops 2017 List of Most-Read Stories

In May, Auto Finance News learned that Wells Fargo Dealer Services was in the process of consolidating its network of collection centers, which topped the 2017 list of most-read stories. Wells Fargo Dealer Services merged 60 regional collection teams and eliminated 57 executives from regional centers. Separately, Executive Vice President Bill Katafias departed the bank. […]
  • Emma Sandler
  • January 1, 2018
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