Nicole Casperson | Auto Finance News | Page 10 | Auto Finance News - Part 10
Nicole Casperson

Nicole Casperson

Deputy Editor

As Deputy Editor of Auto Finance News, Nicole Casperson reports on the latest news, trends, and innovations impacting the auto finance space. Nicole is an experienced business reporter from Texas, and she previously specialized covering the housing and mortgage industry. Nicole received her Master of Arts in Mass Communication and her Bachelor of Arts in Journalism both from the College of Media & Communication, Texas Tech University.

Ally Financial scores investment-grade rating

Ally Financial’s long-term default rating has reached investment-grade status after an upgrade by Fitch Ratings, thanks to a boost in profitability stemming from increased used-car originations. The upgrade is a plus for Ally since investment-grade paper is typically in higher demand by investors, Michael Taiano, senior director of the Financial Institutions Group at Fitch Ratings, […]

Indiana CU rolls out e-contracting to increase marketshare

As credit unions are feeling the pressure of competition in auto finance, Forum Credit Union will adopt e-contracting for its 150 dealership partners by yearend to regain marketshare, Ben Wire, dealer division manager, told Auto Finance News.  The Fishers, Ind.-based credit union first piloted e-contracting with “a few” of its dealer partners last quarter, Wire said, […]

Oregon CU customizes loan rates with new digital platform

Oregon Community Credit Union has launched phase one of its digital platform, a move meant to “set the foundation” for the credit union’s new focus toward automation, Chris Whittaker, vice president of consumer lending, told Auto Finance News.  The Eugene, Ore.-based credit union, which originated $350 million in auto and RV loans last year, launched […]

FBI arrests fraudsters in $1.7M auto scam

The Federal Bureau of Investigation has arrested six fraudsters for falsely obtaining millions of dollars in auto loans. The scammers operated three fake dealerships — called Premier Luxury Motors, Platinum Motors Auto Sales, and 5-Star Motorsports — which had no employees, inventory, or licenses. The perpetrators secured 80 fraudulent auto loans worth $1.7 million, though […]

Tariff threat rattles investors as deadline looms

Turmoil surrounding U.S. tariffs on car imports is likely to deal a blow to the global economy as uncertainty has made investors “nervous” about an incoming recession, William Strauss, senior economist at the Federal Reserve Bank of Chicago, told Auto Finance News. The nervousness, in turn, has fueled the U.S. Treasury Department's yield curve to […]

VW Financial and Daimler Mobility launch UK used-car platform

Volkswagen Financial Services and Daimler Mobility have expanded online used-car marketplace Heycar into the U.K., bringing an inventory of more than 100,000 vehicles across 1,400 dealerships. The U.K. used-car market is valued at $60 billion, and financing is valued at $21.2 billion, according to Heycar.   Heycar’s platform, which launched nearly two years ago in Berlin, partners with […]

DOJ busts $30M luxury vehicle fraud scheme

A Wisconsin man has been sentenced to 10 years in prison after orchestrating a Ponzi scheme that racked up $30 million to finance the purchase of luxury cars, the Department of Justice announced this week. The perpetrator, Alex Golant, obtained the money from at least 40 different victims, according to the Eastern District of Wisconsin […]

BREAKING: SNAAC to shut down this month

Security National Automotive Acceptance Co. (SNAAC) will stop purchasing auto contracts and liquidate its portfolio after 30 years in the business, Auto Finance News has learned. The lender will accept applications through Aug. 12 and purchase contracts through Aug. 19, the lender told AFN in an email. "The risk-adjusted returns in today’s market do not […]
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