William Hoffman | Auto Finance News | Page 6 | Auto Finance News - Part 6

Indian Bank Pivots to New-Vehicle Commercial Financing

Equitas Small Finance Bank, a “new-age” Indian bank that launched in 2007 with a focus on online lending, announced plans to place greater focus on commercial auto lending in the coming years, according to local reports. The bank’s vehicle finance portfolio currently totals around $357.6 million, Managing Director and Chief Executive P.N. Vasudevan told the […]
  • William Hoffman
  • August 20, 2018

100K Users Expected to Join Car Subscriptions by Yearend

Car subscription programs — which allow for an alternative “third wave of ownership” that differs from traditional financing and leasing — are expected to support 100,000 to 150,000 cars in service by yearend through various OEM pilot programs, said Kimberly Henderson, assistant vice president of strategy for the marketing agency Ansira. The agency works with […]

Honda Dealers Stress Need for Reps, E-Contracting, Lease Packages

Dealers, particularly in the Southeast, have struggled with American Honda Finance’s rollout of electronic contracts and rep turnover, Paul Ritchie, president of Hagerstown Honda and Kia, told Auto Finance News. “They have a lot of new reps and new buyers and they seem to be in training a lot during the day when we need […]

Ford’s 2021 Self Driving Car to Operate Exclusively in Fleets

Ford Motor Co. plans to release its first fully-autonomous vehicle to the market by 2021, but consumers will not be able to buy or finance one for personal use, according to a report released today detailing the OEM’s efforts in self-driving tech.   Earlier this year, Miami was announced as the home and “proving grounds” […]

Used-Car Values Hold Up Despite Forecasted Depreciation

Analysts have predicted high depreciation rates in the used-car market for more than a year now, but those forecasts have yet to come to fruition. In July, Manheim registered its highest level ever in its used-vehicle value index — reporting values at auction are up 5.1% year over year. Black Book’s used-vehicle index uses a […]

AutoFi Adds Lenders to Network Amid Expansion to Used Dealers

AutoFi, a white-label financing platform that’s working with Ford Motor Credit to rollout to Ford franchise dealers nationwide, is adding to its lender network and targeting the used-car space for expansion, Chief Executive Kevin Singerman told Auto Finance News. Earlier this year, the company announced that Chase Auto Finance joined the platform to provide used-car […]

Dealers Prioritize Lender Communication, J.D. Power Survey Finds

As interest rates rise, dealer satisfaction with their lender partners is increasingly reliant on quick and meaningful communication with credit staff, according to the 2018 J.D. Power Dealer Financing Satisfaction Survey released this week. “Satisfaction declines by 163 points, on a 1,000-point scale, when dealers are not able to reach the credit staff,” Jim Houston, […]
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