Archives | Auto Finance News - Part 3

SHIFTMobility Sets Sights on Auto Finance With Blockchain App

Users of a new app will soon be able to use digital currency to make payments on their loans and insurance, according to blockchain company SHIFTMobility. Come 2019, Redwood City, Calif.-based SHIFTMobility plans to incorporate lenders into its automotive ecosystem of service shops, manufacturers, and distributors, unlocking the possibility to use the partnership-wide rewards program […]

Chase Auto, USAA, Bank of America on Direct Lending and Improving Dealer Relations [VIDEO]

Direct lenders are coming up with innovative strategies to provide customers with a better experience while maintaining a stronger working relationship with dealers. Lenders from well-established auto financing institutions participated in a panel discussion at the 18th Annual Auto Finance Summit to discuss those issues, as well as how to keep their customers from being “flipped.” “The potential of […]

Tesla Hints at Direct Leasing for Model 3s

Tesla has improved its car production numbers and has signaled that it will soon turn to direct leasing deals to further boost sales, the company noted in its 3Q vehicle production report. The electric car company produced 50% more vehicles — 80,142 —- than it did in the second quarter, which was its previous all-time […]

Closing the Relationship Gap Between Millennials and Credit Unions

Millennials are expected to overtake Baby Boomers in population by 2019, reaching 73 million while Baby Boomers decline to 72 million, according to the U.S. Census Bureau. Though their numbers are strong, their financial situations are not. While there are indeed exceptions, millennials are launching their lives later, often strapped with a heavy student loan […]

Auto Finance Industry Trends That Will Disrupt Lending in 2019

A worrisome auto finance industry trend is developing: After years of growth, sales have been declining since 2017. The decline is predicted to continue through 2018 and possibly into 2019. Car owners keep their vehicles longer. Used car inventory is high, which reduces demand for new cars. City-dwellers often prefer car-sharing or Uber/Lyft to owning […]

Toyota Accelerates Ride-Hailing Investments With New Uber Deal

Toyota Motor Corp. is investing $500 million in Uber Technologies Inc. as the OEM continues its efforts to become a true competitor in the autonomous vehicle space, the companies announced on Monday. Uber will combine its autonomous driving system with Toyota’s Guardian technology, which uses sensors to help human drivers avoid accidents, according to a […]

Getaround Poised to Meet Carshare Demand With $300M Investment

Carsharing app Getaround raised $300 million in series D funding today — led by investments from SoftBank and Toyota Motor Corp. — at a time when the sector could get a boost from New York City regulations.  Getaround is the latest to join SoftBank’s contingent of mobility startups it backs, which include Uber, China’s ride-hailing […]
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