Auto Finance Excellence | Auto Finance News - Part 4

CFPB outlines auto finance plans

While the Consumer Financial Protection Bureau focused supervisory and enforcement activity last year on mortgage lending, small business lending and student loan servicing, it hasn’t forgotten about the auto finance industry, according to the agency’s 2018 Fair Lending Report to Congress. In fact, several of the hot-topic issues the bureau has highlighted will have implications […]

TFS debuts lease waiver for military families

As Independence Day nears, both Toyota Financial Services and Lexus Financial Services are honoring the men and women in uniform and their families with a new program that waives remaining lease payments for Gold Star spouses and families. Gold Star spouses and families are relatives of service members who die or are “catastrophically injured” in […]

How different insurance options impact customer experience

When buyers sign the paperwork for a vehicle purchase, they probably breeze right past the part where they promise to maintain proper insurance. The vast majority have every intention of staying insured, and buyers simply scribble a signature and move on. Other than questioning an up-front insurance charge they weren’t expecting, they may not give […]

Building and retaining customer loyalty in the digital age [Podcast]

Technology is playing a more prominent role in auto financing as car buyers increasingly look for lenders to provide digital options for communication and payment. Today, customers expect content to relate to what they’re doing anytime, anywhere and on any device. To that end, captive financier Nissan Motor Acceptance Corp. is meeting customer expectations with […]

Fighting fraud with fintech

To counter the continued rise in fraud, auto lenders of all sizes are counting heavily on risk management and loss mitigation. For small lenders, risk management may be the part-time responsibility of one employee. Banks, captives, and credit unions may devote an entire team to the endeavor. However, the degree of diligence devoted to risk […]

SNAAC Reveals How a Customer-Centric Strategy Can Mitigate Losses

As delinquencies rise and an economic downturn looms, limiting credit risk and mitigating losses are top of mind for many auto financiers. “Delinquencies are up, losses are up, so what are we going to do to contain them?” Chris Mitcham, senior vice president of servicing at Security National Automotive Acceptance Co., asked the audience at the Auto Finance […]
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