All Posts | Auto Finance News - Part 5

Westlake inks second partnership in Canada

Westlake Financial is adding a second strategic partnership in Canada, Group President Ian Anderson told Auto Finance News. The Los Angeles-based lender partnered with Preston, Ontario-based auto finance company Source One Financial two weeks ago, Anderson said, and plans to fund its first contract on Dec. 2. The alliance comes on the heels of a partnership […]

Massachusetts AG slaps used-car dealer with $1M fine 

The Massachusetts Office of Attorney General Maura Healey has fined a used-car dealership and its owner for allegedly engaging in unfair and deceptive sales practices that violated the state’s consumer protection law.   Framingham, Mass.-based AutoMax Preowned and its owner Howard Wilner have agreed to a $925,000 judgment that includes restitution to consumers to settle allegations […]

Auto Finance Accelerate 2020 agenda is live

The agenda for Auto Finance News’ two-part event, Auto Finance Accelerate, is now available on The event will take place on March 9-11, 2020, at the Omni San Diego. Auto Finance Accelerate is providing back-to-back events with the fifth annual Auto Finance Innovation Summit and the second annual Auto Finance Sales & Marketing Summit. […]

Santander debuts $1.3B revolving ABS

Santander Consumer USA is bringing $1.3 billion worth of nonprime loans to market with the debut of its revolving asset-backed securitization slated to close Nov. 26, according to Moody’s Investors Service presale report.   The securitization pool consists of 66,522 contracts, with 43% of the pool comprised of new vehicles and 57% used. The weighted average […]

Tightening credit standards to slow auto growth

Tightening lending standards from auto finance companies, interest rates and rising vehicle prices are poised to reduce total outstandings about 5% through 2020 and 2021, according to Moody’s Analytics U.S. Consumer Credit Outlook. In fact, finance companies have stiffened underwriting guidelines due to deterioration in credit performance, which has allowed banks and credit unions to […]

PE firm Cerberus buys stake in Florida used-car chain

Private equity firm Cerberus Capital Management has acquired an 80% interest in independent used-car dealership chain Off Lease Only LLC with plans to expand the company’s footprint and “further strengthen the business through strategic investments and the integration of operations and technology initiatives,” according to a press release. Off Lease Only has four Florida dealership […]

The best marketing strategy in lending

As the year draws to a close, it’s natural to start thinking about gratitude — holiday travel, social media feeds full of “things I’m thankful for” and, of course, Thanksgiving has its moment in the spotlight (briefly, before holiday shopping steals it away again). For many of us, the first thing that comes to mind […]
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