Auto Finance Summit | Auto Finance News

Golden 1 CU inches toward lower credit

LAS VEGAS — Golden 1 Credit Union is looking to expand its underwriting focus in anticipation of slowing vehicle sales in 2020, said Chief Lending Officer Greg Brown. The Sacramento, Calif.-based lender’s average credit score is 739, Brown said. “We haven’t had that conversation internally yet, but dropping the credit average by 10 points would […]

Chase Auto pilots subscription model, questions scalability

LAS VEGAS — Chase Auto is experimenting in the subscription service space by funding a “cross-product or cross-model” offering, Chief Executive Mark O’Donovan said at the Auto Finance Summit. Chase is providing a wholesale credit line, with the dealership groups running the subscription models, he said. “We’re dabbling in it to try to support our dealer […]

Rodo integrates insurance into app to mitigate cancellations

LAS VEGAS — Digital leasing app Rodo has launched an insurance marketplace in conjunction with Travelers Group to mitigate lease cancellations, said Patrick McKeever, vice president of sales and business development at Rodo. “One of the things we heard from our consumers — and certainly first-time buyers — is they had no idea how expensive […]

AFS 2019: HyreCar exec pinpoints subscription service challenges and opportunities [Video]

What do delivery pizza and automotive subscription services have in common? HyreCar’s SVP of Strategic Partnerships Brian Allan made the case at the Auto Finance Summit that vehicle subscription services could unlock the potential for consumer adoption with a seamless mobile app, just as Domino’s achieved with pizza delivery 10 years ago. “Domino’s changed the […]

AFS 2019: Chase Auto augments private-label financing business after losing Mazda

LAS VEGAS — Chase Auto is looking to supplement its private-label financing venture with a “new business” focused on strategic partnerships that will leverage the private-label infrastructure, Chief Executive Mark O’Donovan said at the Auto Finance Summit. “We had some unfortunate news that Mazda had let us know a little while ago they’re going to […]

AFS 2019: Internal factors, market competition likely to disrupt lender success in 2020 

LAS VEGAS — Half of the audience at the Auto Finance Summit 2019 identified internal factors and market competition as the top challenges that could impede their company’s success in 2020, according to live poll results revealed during the Summit.  On the heels of the audiences’ response, senior executives from Consumer Portfolio Services, GM Financial, […]

AFS 2019: NMAC to boost consumer base with fintech partnership

LAS VEGAS — Nissan Motor Acceptance Corp. has been engaged in a pilot program with Modal — formerly known as Drive Motors — to connect additional customers to the captive for vehicle financing, said Colin Cooke, director of financial products, at the Auto Finance Summit. “That’s been our focus over the last 18 months," Cooke […]
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