All Posts | Auto Finance News - Part 5

Fleet Sales to Hit Skids in 2019

While fleet sales grew 7% in 2018, volume will likely remain flat this year, a new Cox Automotive report shows.  "Will fleet sales increase again in 2019? We don’t believe so," Cox wrote in the report. Fleet sales totaled 2.7 million units last year. Commercial fleet volume, up 9% to 743,000 units, was a primary driver […]

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 […]

Franchise Dealer Originations Inch Higher in Westlake’s Latest Securitization

The ratio of franchise dealer originations in Westlake Financial Services's securitizations is on an upward trajectory, according to a recent DBRS presale report.  In Westlake's most recent securitization, an $800 million transaction slated to close Feb. 20, franchise dealer originations account for 38% of the pool. By comparison, franchise originations hovered at 30% in the […]

Credit Unions Curb Financing for Independent Dealers

With credit unions slowing the pace of originations, about 30% of the independent dealers on CU Direct Lending’s platform pulled out last year, CUDL President and Chief Executive Tony Boutelle told Auto Finance News. "We’ve seen probably 1,000 independent dealers come off our program [in 2018] because our credit unions stopped doing financing for them," […]

GM Financial Notches 32% Loan Origination Growth in 2018

General Motors Financial Co. continues to bolster retail loan growth with a 31.7% yearly rise in originations, the company reported Wednesday. “We navigated significant headwinds in 2018 to deliver another year of strong results, demonstrating the earnings resiliency of this company,” General Motors’ Chief Financial Officer Dhivya Suryadevara said in a statement. “The actions we’ve […]

Biometrics, Behavior Trends Shield Lenders From Online Fraud, Experian Says

As financing moves increasingly onto the digital stage, one fraud expert urged auto lenders to leverage more data and analytics beyond the common credit data and ID verification tactics used today. Experian’s Senior Fraud Solutions Consultant Chris Ryan said auto lenders are particularly vulnerable to the use of synthetic identities, which he noted is on […]

How to Leverage Current Machine Learning and AI Tools in Auto Lending

Auto dealers have heard the hype about how machine learning (ML) and artificial intelligence (AI) are going to transform their businesses. Typically, there are usually two binary outcomes that are discussed. On one hand, the promise of the future seems so bright. Instead of relying on intuition and gut feeling, many divisions of their businesses […]

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. […]
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