Sales & Marketing | Auto Finance News - Part 3

US Bank targets partners for mobile enhancements

  U.S. Bank is exploring potential partnerships to boost the bank’s mobile capabilities as it looks to bring in more customers and enhance the value it provides to dealers, John Hyatt, president of dealer services, told Auto Finance News. “We will continue to see advancements in technology that will allow more of our transactions to […]

GM Financial sharpens lease-end practices

GM Financial credits enhanced end-of-lease procedures for its 79% lease retention rates, Bob Beatty, executive vice president of customer experience, told Auto Finance News.  At the beginning of this year, GM Financial brought the management of the end-of lease experience, which used to be handled by a third-party vendor, in-house. The captive dedicated a team […]

Ally boosts Instagram engagement 60% with interactive campaign

Ally Financial is jumpstarting its Instagram presence with a campaign designed to make discussing finances within relationships easier. Already, the lender has grown its Instagram followers 60% since launching Confessiongrams, as the campaign’s called, in the spring. Positive feedback and engagement prompted Ally to extend paid support on the campaign further, running until Thursday. To […]

Global Lending Services aims for 14K dealers

On the heels of establishing a direct-to-consumer business, Global Lending Services continues to build the indirect side of the business. The subprime lender has been signing on nearly 200 new franchise dealers each month as it aims for the 14,000-dealer mark, Chief Executive Steve Thibodeau told Auto Finance News. So far, GLS has signed on […]

CPS, GMF, Huntington and Westlake execs join Auto Finance Summit speaker faculty

Senior executives from four of the nation’s largest financiers will participate in an executive dialogue to track the trajectory of the industry and strategies for overcoming looming challenges. The panel will feature Consumer Portfolio Services President and Chief Executive Charles Bradley, GM Financial Chief Operating Officer Kyle Birch, President of Huntington Auto Finance Rich Porrello, […]

Off-lease volume to peak this year

The volume of off-lease vehicles returning to market is expected to peak at 4.1 million this year and again in 2020, Jonathan Smoke, Cox Automotive’s chief economist, said in the second-quarter Used Vehicle Value Index conference call. “Off-lease maturities grew by 1.7 million units between 2014 and 2018,” Smoke said. “This year, we expect the […]

Lenders likely to withstand threat of aging vehicles, analysts say

The average vehicle age in the U.S. continues to climb, yet lenders have little to worry about, analysts said. The average age of light vehicles in operation has risen to 11.8 years, thanks to better technology and overall vehicle quality improvements, Mark Seng, director of IHS Markit‘s global automotive aftermarket practice, said in a press […]

CPS ramps up direct lending, eyes title loan venture

In an effort to get ahead of increased competition stemming from a potential economic slowdown, Consumer Portfolio Services is diversifying its business, Chief Financial Officer Jeffrey Fritz said. Specifically, CPS is increasing its direct lending volume and is developing a title lending business. CPS originated $8.2 million of direct loans in the first quarter. At […]
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