Sagent Lending Technology Targets Subscription Space

Sagent Lending Technology is expecting to take the lead in the subscription space tapping into a similar strategy that the company uses to help captives and lenders manage loan and lease originations, Charles Sutherland, chief product officer, told Auto Finance News. “Historically we have strength in helping [auto finance] companies manage the strength of their portfolios,” […]

USAA Offers Auto Loans Through Augmented Reality App

USAA is piloting a car-buying augmented reality app, which allows consumers to scan cars on the road and apply for an auto loan from local inventory right on the spot, the bank announced Monday. Augmented reality slowly crept into consumer’s lives whether it’s scanning a bedroom to visualize a new paint job, virtually placing new […]

Industry Veteran Ballinger Sets Out to Establish Blockchain Standards

Selling a service has become more important in the auto industry than selling a product,Chris Ballinger, chairman and chief executive of Mobility Open Blockchain Initiative, told Auto Finance News. With a decade of experience serving as Toyota Financial Services’ chief financial officer and Toyota Research Institute’s head of mobility services, Ballinger understands the industry’s need […]

3 Strategies to Qualify Customers for Car Subscription Programs

One of the most frequently asked questions when implementing a vehicle subscription program is identifying a proper risk model for underwriting subscription customers. This typically corresponds to two areas that need to be addressed before allowing customers into a subscription membership — driving history and creditworthiness. In this article, we will focus on credit underwriting. […]

Subscription Service Revolve Carves Out Niche in Luxury Space

Asoka Veeravagu, chief executive of the Florida- based luxury car subscription platform Revolve, envisions a future with many competitors in the car subscription space, not just one solution that dominates the market, he told Auto Finance News. “When you look at the size of the industry — in the U.S. new and used annual [financing] […]

Increased Consumer Awareness of Depreciation Costs to Boost Subscriptions

The depreciation of a new vehicle and its hidden costs for consumers could drive the market further toward subscription services. “The market today is in good time [for consumers] to think about [subscription services] as an alternative,” Jonathan Banks, vice president of vehicle valuations and analytics at J.D. Power, told Auto Finance News. Depreciation can […]

Dealers Explore Innovative Subscriptions as Old-School Lenders Drive Business

Dealers are increasingly torn between the old-school F&I business of local credit unions and the new-school subscription models. Gary Duncan, one of the owners of the Duncan Automotive Group in Christiansburg, Va., told Auto Finance News that some of his best business is coming from credit unions that can meet the needs of local customers […]

BMW Financial Taps 6 Startups For ‘Collaboration Lab’

BMW Financial Services is hosting six startups for its “Collaboration Lab,” which will allow the fledgling companies to develop their ideas and utilize the captive’s resources over a 10-week period at BMW’s offices outside Columbus, Ohio. The six companies were selected from 212 applicants and will have an opportunity to partner with the captive following […]
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