Used Car Dependability on the Decline in China

The reliability of used cars in China is regressing, according to a J.D. Power study released Thursday. The finding underscores the challenges for lenders seeking to increase their penetration into the second-hand market. J.D. Power’s 2018 China Vehicle Dependability Study tracks the number of problems experienced per 100 vehicles (PP100) on 30- to 48-month-old vehicles […]
  • William Hoffman
  • September 21, 2018
  • Asia

Subscription Service Revolve Carves Out Niche in Luxury Space

Asoka Veeravagu, chief executive of the Florida- based luxury car subscription platform Revolve, envisions a future with many competitors in the car subscription space, not just one solution that dominates the market, he told Auto Finance News. “When you look at the size of the industry — in the U.S. new and used annual [financing] […]

China Poised to ‘Leapfrog’ Leasing In Favor of Subscriptions

SHANGHAI — Much in the same way the Chinese economy has bypassed widespread usage of credit cards in favor of mobile payments such as WeChat, there is speculation that Chinese auto lenders could “leapfrog” traditional leasing in favor of subscription models, Sebastian Pfeifle, a partner at Deloitte, said at the Auto Finance Summit Asia. Leasing […]

Auto Equity Lender Under Florida Attorney General Investigation

Marlin Financial, a Florida-based lender that offers auto equity loans as a “great alternative to title loans,” is being investigated for consumer protection violations by the Florida Attorney General’s office. The investigation was sparked by a Tampa Bay Times story unearthing a pattern of consumers claiming they were charged interest rates that exceed the state […]

U.S. Bank Improves Auto Decisioning to Compete in Tight-Margin Business

SHANGHAI — U.S. Bank increased its auto decisioning capabilities and improved efficiencies in its sales team earlier this year to reduce expenses and continue to grow the business, said John Hyatt, executive vice president of dealer services. The comments came as part of a panel discussion at the Auto Finance Summit Asia, in which Hyatt […]

Credit Unions Flourish as Interest Rates Rise, Auto Count Data Shows

Credit unions are taking advantage of the rising interest rate environment as some have grown loan volumes in their state by more than 50% year over year, according to Auto Finance News’ analysis of Experian’s July AutoCount data. Namely, Security Service Federal Credit Union grew its Texas loan originations by 69% year over year to […]

Dealers Explore Innovative Subscriptions as Old-School Lenders Drive Business

Dealers are increasingly torn between the old-school F&I business of local credit unions and the new-school subscription models. Gary Duncan, one of the owners of the Duncan Automotive Group in Christiansburg, Va., told Auto Finance News that some of his best business is coming from credit unions that can meet the needs of local customers […]

BMW Financial Taps 6 Startups For ‘Collaboration Lab’

BMW Financial Services is hosting six startups for its “Collaboration Lab,” which will allow the fledgling companies to develop their ideas and utilize the captive’s resources over a 10-week period at BMW’s offices outside Columbus, Ohio. The six companies were selected from 212 applicants and will have an opportunity to partner with the captive following […]
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