Innovation & Mobility | Auto Finance News

Volvo Financial Taps 7 Startups With iLabX Program

Volvo Financial Services is hosting seven startups for its iLabX program, which gives the companies an opportunity to develop ideas and utilize the captive’s resources over 10 weeks at VFS U.S. headquarters in Greensboro, N.C. The seven companies, announced today, were selected from 183 applicants and will have an opportunity to partner with the captive following […]

Leasing’s New Look: Financiers Give Lease Options a Makeover

From the February issue: With new-car purchases lagging and used-values increasing, captives and OEMs are reimagining lease products to keep their customer bases growing. Roughly a decade ago, 1.4 million new vehicles were leased — a 16% penetration rate. Fast forward to 2019, and lease volume is expected to reach 4.1 million, with penetration as […]

AFN Calls for Startups to Apply for Innovation Demos

Auto Finance News is holding a DEMOvation Challenge in advance of Auto Finance Innovation Summit 2019 — which is slated for May 14-15 at the Omni San Diego — to determine which startups will secure one of a limited number of complimentary demo slots. For the third year, Auto Finance Innovation Summit 2019 will feature DEMOvation sessions, offering a unique presentation experience […]

Dealers Negotiate Lease Prices in New Lexus Program

Toyota Financial Services is piloting its Lexus Complete Lease program with 80 dealerships in seven states, though the timing for a national rollout is still undecided, Joanna Dean, general manager for finance products at TFS, told Auto Finance News. “[TFS] will continuously evaluate the success of the program and decide on the expansion into additional […]

BB&T-SunTrust Merger to Establish $23B Auto Finance Operation

BB&T Bank’s acquisition of SunTrust Banks is likely to combine auto lending operations in a move that will improve efficiency but take time to configure, analysts told Auto Finance News. A SunTrust-BB&T merger would create a $22.8 billion auto finance operation, propelling the business into the top 20 among auto financiers, according to Big Wheels […]

Call for Speakers: AFN Seeks Speakers for Auto Finance Innovation Summit

Auto Finance Innovation Summit — the event of the industry focused on today’s technology and tomorrow’s innovation-driven opportunities — is searching for thought leaders in auto finance to join the speaker roster. Help shape our agenda for the 4th annual Auto Finance Innovation Summit, to be held at the Omni San Diego on May 14-15. […]

Global Lending Services Delays Launch of Mobile Wallet

Subprime lender Global Lending Services pushed back the launch date of its mobile wallet functionality, which will allow consumers to make auto loan payments from their mobile devices, Chief Executive Steve Thibodeau told Auto Finance News. Initially slated for yearend 2018, the new capability will now be rolled out in March or April. The mobile […]

AutoGravity to Streamline Applications With Experian Data

AutoGravity has set the wheels in motion to integrate consumer behavior data from Experian Automotive into its digital car-buying platform. “There’s an idea of what the perfect digital auto retailing is, and then there’s where we are today — and there’s this massive gap in between,” Mark Humphrey, AutoGravity’s vice president of lender network, told […]
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