Sales & Marketing | Auto Finance News - Part 4

Westlake taps CarFinance to grow refi business

Westlake Financial Services has inked a deal to start purchasing auto refinance loans originated through CarFinance, the companies announced this week. The goal of the partnership is to “complement” Westlake’s direct lending platform, LoanCenter, with auto loan refinancing, Ralph Ontiveros, vice president of Westlake services and lending solutions, said in a press release. The Los Angeles-based […]

Auto Financial Group expands Canadian reach

Auto Financial Group (AFG), a provider of residual-based financing options to credit unions, is stretching its reach across Canada by signing on its first Nova Scotian financial institution, the company announced yesterday. Halifax, N.S.-based CUA is the first credit union in the province to partner with AFG Canada, said Director of Marketing Monica Mendoza. Now, […]

Nissan seeks sale of trading unit in $1b deal

Nissan Motor Co. is seeking to sell a wholly owned subsidiary that distributes vehicle parts and materials in a deal that may be valued at about $1 billion, as the struggling Japanese automaker seeks to slim down, people familiar with the matter said. The company has invited private equity and trading firms to bid for […]

CarMax expands delivery service to Texas

CarMax has expanded its online car-buying service to seven cities in Texas, with three more slated to launch in late-October, the used-car retailer announced. The functionality allows customers to complete the entire car-buying process from home — including retail shopping, securing financing, and filing trade-in paperwork. CarMax customers may be financed by captive CarMax Auto […]

Ford Credit finance volume drops 14% year over year

Ford Motor Credit’s total volume of units financed has declined 13.7% year over year to 70,793 units financed in July, according to AutoCount data from Experian. In a couple emblematic states, the captive’s volume decreased more than 30%. In Texas, Ford Credit’s number of loans and leases financed dropped 31.3% to 5,979 units in June. […]

Westlake doubles down on dealer strategy

Dealers have stopped telling Westlake Financial Services to increase sales rep visits thanks to a move pushing face time and call frequency. The common dealer refrain of “we’re not hearing from you enough” prompted Westlake to overhaul its dealer strategy. Those efforts have paid off, said Westlake Senior Vice President of Sales and Marketing Mark Vazquez. “It’s gotten […]
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