William Hoffman | Auto Finance News | Page 4 | Auto Finance News - Part 4

William Hoffman

As Assistant Editor at Auto Finance News, William specializes in covering compliance, operations, and subprime issues. As a Brooklyn implant by way of Ohio, he's happy to discuss the triumphs and pitfalls of Cleveland sports as well as the latest music trends. Former bylines include Candy & Snack Today, Inverse, and The Tennessean.

China Used-Car Market Poised for Boom Following New-Car Sales Surge

SHANGHAI — The used-car market in China is poised for growth, but there are risks to overcome along the way, according to several speakers at the Auto Finance Summit Asia 2018 today. Secondhand car sales were up nearly 20% year over year to 12.4 million units, but the majority of those deals continue to be cash […]

Chinese Lenders Struggle to Access Consumer Data

SHANGHAI — Unlike in other Asian markets, there’s an abundance of consumer data in China, however, lenders have difficulty tapping into it because it’s controlled by two companies — WeChat and Alipay. Access to data is one of the major challenges panelists at Auto Finance Summit Asia identified for lenders in the Chinese market, but there […]

Crediauto Eyes Summit Financial Acquisition to Jumpstart Comeback

San Diego-based subprime lender Crediauto is re-entering the auto finance space after a one-year hiatus and is looking to grow rapidly through acquisitions starting with Summit Financial Corp.’s $105 million portfolio, said Rafael Gómez, chief executive of Crediauto. “We’ll continue to grow organically as well, but we’re pursuing a couple of transactions actively and are […]

5 Uses for Blockchain in Auto Finance

The hype around blockchain ranges from technology that serves as a convenient and more secure way to transact funds, to a revolutionary invention that’s going to remake and supplant the current state of the internet as we know it. The reality for auto lenders is that the technology is still experimental, requiring further development before […]

Chinese Truck Manufacturer to Form Auto Finance Joint Venture

Beiqi Foton Motor Co. —  a Chinese manufacturer of commercial utility vehicles and the consumer pick up truck Tunland — is planning to set up an auto finance joint venture with $385 million of capital, according to public filings. Beiqi Foton will invest in Anpeng Leasing shares to jointly established Anpeng Zhongrong Co., according to […]

Ford Captive Receives ‘Negative Outlook’ by Moody’s Citing OEM’s Headwinds

Moody’s Investor Service gave Ford Motor Credit a “negative outlook” and downgraded the lender one ranking above a non-investment grade status this week, but the score is largely driven by risks in the parent manufacturer’s business, Jason Grohotolski, vice president and senior credit officer in Moody’s financial institutions group, told Auto Finance News. The report […]

Crediauto Restarts Subprime Originations With Tightened Scorecards, Auto Decisioning

Subprime lender Crediauto USA Financial LLC restarted originations earlier this year following a one-year break from funding loans to add auto-decisioning software, improve its credit underwriting standards, relaunch the brand, and refinance its outstanding debt, the company told Auto Finance News. Investment firm Arena Investors LP is providing Crediauto with a “multi-million” credit line to refinance […]
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