Nicole Casperson, Bianca Chan & Joey Pizzolato

The wolf among us: Fraud in auto finance

From the October issue: In the past year, Auto Finance News has tracked 20 cases of auto loan fraud in the United States alone. The schemes racked up more than $173 million in fake loans and stolen cars. But these data points only tell part of the story. Auto fraud is notoriously hard to catch, […]

Nicole Casperson, Bianca Chan & Joey Pizzolato
October 31, 2019
Features, Innovation & Technology, Operations, Risk Management

Ford Credit increases cash distribution

Ford Motor Credit increased its cash distribution to Ford Motor Co., injecting $1.1 billion into the OEM, compared with $700 million in the prior-year period, according to the company's third-quarter earnings call. “Cash distributions tend to track with profitability for Ford Credit, and that's been consistent over time,” Ford Motor Co.’s Chief Financial Officer Tim […]

Nicole Casperson, Bianca Chan & Joey Pizzolato
October 25, 2019
Earnings, Sales & Marketing

Fair, the high-flying industry startup, initiates substantial staff cuts

Fair, which offers an automotive subscription app, will reduce its staff by 40% in an effort to increase profitability, according to an internal company memo sourced by TechCrunch. TechCrunch estimated that 215 employees would lose their jobs at Fair. Among the employees let go is Chief Financial Officer Tyler Painter, brother of Chief Executive Scott […]

Nicole Casperson, Bianca Chan & Joey Pizzolato
October 24, 2019
Archives, Capital Markets, Finance, Innovation & Technology, Operations, People, Risk Management, Sales & Marketing

How aftermarket products give subprime lenders an edge

Fueled by off-lease volume and consumer demand, used-vehicle sales are nearing record levels. For lenders focused on used vehicles — particularly lenders with subprime practices — these are opportune times. However, lenders need to differentiate their services to scale a profit. By leveraging cloud, auto-decisioning and paperless lending technologies, lenders gain a competitive edge with […]

Aclaró expands into prime auto lending market

Aclaró Inc., the rapidly-evolving artificial intelligence company, has expanded its products and services to the prime auto lending market after successfully launching its disruptive technology in the subprime market. It moves into prime auto loans, permitting a range of lenders, borrowers, and auto dealers to take advantage of industry-leading insights to create better long-term financial […]

State of the subprime auto lending market

Working in the subprime auto lending market, the tendency is to focus on the threats and opportunities that are directly in front of us. We zone in on our specific subprime auto portfolios and do our best to obtain the highest risk-adjusted returns. Ultimately, it is easy to get stuck in the weeds rather than […]

Why low balance letters are not working

Regardless of the industry, there comes a time when certain business practices are followed even though they aren’t the most efficient or most profitable. The legendary Rear Admiral Grace Murray Hopper, a pioneer of computer programming, used to say that the most dangerous phrase in any language is, “We’ve always done it this way.” The auto […]

Aclaró releases EcoSystem 3.0, adds new board member

Aclaró, which provides disruptive technologies to the automotive, financial and government sectors, has released Aclaró EcoSystem 3.0 (ES 3.0), a game-changing toolset for vehicle purchasers, lenders and dealers, and added a new member to its board. With these announcements, the artificial intelligence software company continues the rapid advancement toward its overarching mission of helping lenders, […]

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Auto Finance News The News That Drives the Industry

Nicole Casperson, Bianca Chan & Joey Pizzolato

The wolf among us: Fraud in auto finance

Ford Credit increases cash distribution

Fair, the high-flying industry startup, initiates substantial staff cuts

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