Customer Experience | Auto Finance News

Ally’s Doug Timmerman named Auto Finance Executive of the Year

Auto Finance News is pleased to announce Doug Timmerman, Ally Financial’s president of auto, as the inaugural Auto Finance Executive of the Year. Timmerman first joined Ally — then General Motors Acceptance Co. — back in 1986 and is now at the helm of an $80 billion auto portfolio. Under Timmerman’s leadership, Ally broke a […]

Ally Financial spotlights customers for ‘Banksgiving’ [Video]

Ally Financial has recognized three customers who selflessly contribute to their communities not just during the holiday season, but every single day, said company Chief Marketing and Public Relations Officer Andrea Brimmer.  From running nonprofits to volunteering and fundraising, Ally is giving back to the customers that are giving their all to help their communities […]

Innovative uses for AI in auto finance

The term artificial intelligence has been around for decades, and recently the technology has become a part of the auto finance industry — infiltrating lenders’ underwriting processes, loan payments, and customer experience strategies. In this episode of The Roadmap, Tricolor Auto Acceptance’s President and Chief Operating Officer Don Goin chats about how most innovations in […]

Member satisfaction climbs after WSECU brings website design in-house

Since overhauling its online platform in April, Washington State Employees Credit Union (WSECU) members have reported a boost in user satisfaction. “We do surveys of our members that have taken out loans and of members that have applied online, and we’re seeing that 90% of them are rating it as a low-effort experience,” said Ryan […]

Porsche Financial expands insurance coverage to EVs

Porsche Financial Services has expanded its car insurance coverage to include services related to electric mobility, the company announced. The service, called “E-Cover,” was designed to supplement the upcoming release of the Porsche Taycan Turbo, the German automaker’s first all-electric vehicle. Consumers in Germany will be able to add coverage to an existing insurance policy […]

Originations fall flat in 3Q

New data from TransUnion’s third-quarter Industry Insights Report echoes auto finance executives’ sentiments at the Auto Finance Summit that origination growth will slow in the coming months. “We’re expecting flat originations on a year-over-year basis,” Matthew Komos, vice president of financial services research and consulting at TransUnion, told Auto Finance News, citing rising vehicle prices […]

Credit Acceptance ditches $10K dealer-enrollment fee

Credit Acceptance has eliminated its $9,850 dealer-enrollment fee in an effort to expand its dealer network. The lender disclosed the change, which was implemented Aug. 5, in its third-quarter SEC filing. “Beginning Aug. 5, 2019, dealers may enroll in our Portfolio Program without incurring an enrollment fee,” according to CAC’s third-quarter filing. “Prior to Aug. […]
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