All Posts | Auto Finance News - Part 5

Used-Vehicle Prices Should Withstand Influx of Off-Lease Volume, Analyst Says

WASHINGTON, D.C. — Despite bearish calls in the automotive industry spurred by an expected influx of off-lease volume, consumer demand for replacement vehicles should keep used-car prices stable, Mike Wall, executive director of automotive analysis at IHS Markit, said in a session at CBA Live this week. Approximately 28% to 30% of retail automotive sales are leases, […]

An Explanation of Delinquency Rate Discrepancies Between S&P and the N.Y. Fed

Inclusion of charge-offs when calculating 90-day delinquencies may spell the difference between the 4.47% rate reported by the New York Federal Reserve and the 1.86% subprime rate recorded by S&P Global Ratings at yearend 2018. According to the data dictionary in the N.Y. Fed’s research, delinquency data includes “severely derogatory” accounts, or those with reports […]

Ancillary Products Need a Makeover, NADA Says

WASHINGTON, D.C. — The National Automobile Dealers Association wants to rebrand Voluntary Protection Products (VPP) to change the way consumers view the product offering, according to a panel of automobile dealers at CBA Live on Tuesday. To coincide with the panel, the NADA released a VPP policy template to its members the same day. “These […]

DriveItAway to Boost Scale, Expand Reach With New Marketing Partnership

DriveItAway, a company that connects rideshare drivers with dealerships’ idle stock, is eyeing an increase in rental volume after securing a partnership with call-center company CloudOne, the companies announced today. Vancouver, Wash.-based CloudOne handles 250,000 calls per month at its automotive-focused call center that facilitates new- and used-vehicle sales. It also provides credit-based lead generation […]

Auto Finance Accelerate Early Bird Registration Ends This Week

Friday will be the last chance to take advantage of early bird registration prices for Auto Finance News’ week-long event, Auto Finance Accelerate. The series of three events will take place May 13-16 at the Omni San Diego. The success of the Auto Finance Risk Summit, now in its 12th year, and the 4th annual Auto Finance Innovation Summit made way […]

Massachusetts AG Probes Borrowers’ Ability to Repay Loans

WASHINTON, D.C. — The Massachusetts attorney general is taking a greater interest in the practices of used-car lenders failing to consider borrowers’ ability to repay, Max Weinstein, chief of the Consumer Protection Division, said at CBA Live 2019. The move draws on a Massachusetts precedent in the mortgage origination space in which a subprime lender […]
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