Archives | Auto Finance News - Part 2

Fitch Forecasts Subprime Auto ABS to Weaken in 2019

While prime auto lease and loan asset-backed securitizations are projected to remain stable, Fitch Ratings Agency expects the outlook for subprime auto ABS to weaken. In a 2019 consumer lending outlook, Fitch’s Senior Director of ABS Ian Rasmussen said subprime auto asset-backed securities are more vulnerable due to weaker borrower profiles and industry headwinds inflated […]

2019 Survival Guide: How Lenders Are Planning for the Year Ahead

From the January issue: 2018 was a strong year for auto finance as delinquency rates dropped, the economy grew, and consumer demand remained high. However, the new year finds lenders and analysts bracing for an economic slowdown. But that’s not the only worry. New-car purchases are lagging, according to Manheim’s November data, which has new-vehicle sales […]

NETSOL Technologies Signs On as Diamond Sponsor for Auto Finance Summit and AF Accelerate

Auto Finance News is proud to announce NETSOL Technologies Inc. is the official Diamond sponsor of its two industry events this year: the Auto Finance Summit and Auto Finance Accelerate, a week-long event series on auto finance operations, including sales & marketing, innovation, and risk. NETSOL specializes in internet technology and enterprise software solutions primarily […]

New Accounting Rule Likely to Hike Lending Costs

As U.S. financial institutions start to implement a new loan-loss accounting guideline this week, Jefferies Equity Analyst John Hecht forecasts higher lending costs down the road. The Current Expected Credit Losses (CECL) model, introduced by the Financial Accounting Standards Board in 2016, outlines how banking institutions account for and reserve against loan losses. Early adoption […]

Alliant Credit Union Reaches $80 Million Milestone with TrueCar

Alliant Credit Union, which partnered with an online automotive marketplace TrueCar in 2015, said as of December 2018 that it has originated 3,000 auto loans worth $80 million through the platform and that Alliant members have saved $4 million off manufacturers’ suggested retail prices. TrueCar allows Alliant members to access certified-dealer inventory, check vehicle prices, […]

Westlake Financial to Roll Out Direct Lending Portal in 4 States

Westlake Financial Services is gearing up to expand its direct lending portal, LoanCenter, beyond its current California footprint. “Historically, we always pilot everything in our backyard,” VP of Westlake Services and Lending Solutions Ralph Ontiveros, told AFN. Now, nearly two years after launching the pilot, Westlake Financial is ready to take the portal nationwide. The rollout […]

TrueCar Looks to Streamline Financing With Retail Software Acquisition

TrueCar last week acquired DealerScience, a maker of automotive retail software, for $27 million. DealerScience makes tools that helps dealers create web offers, complete sales and respond to customer questions.  DealerScience’s desking technology streamlines the customer experience by automatically consolidating a dealer’s up-to-date pricing, rebates, residuals, and current incentives and finding the lowest payment based […]

Sedan Sales Marketshare Falls to Record Low in November

Sedan popularity has dropped to an all-time low, as evidenced by November’s new-vehicle sales figures. As a percentage of new-vehicle sales, sedan — or “car” — segment marketshare dropped to 28.8%, the lowest monthly share on record, according to Cox Automotive unit Manheim. By comparison, the segment that comprises light-duty pickups, vans, SUVs, and crossovers […]
Page 2 of 30812345 102030...Last »