Sales & Marketing | Auto Finance News

Trump Receives Report on U.S. Security Threat of Car Imports

President Donald Trump has received the findings of a probe into whether imported vehicles pose a national security threat, which could lead the U.S. to impose tariffs. Commerce Secretary Wilbur Ross has submitted his recommendations to Trump, the department said in a statement on Sunday in Washington, without offering any insights into the findings. Trump […]

Leasing’s New Look: Financiers Give Lease Options a Makeover

From the February issue: With new-car purchases lagging and used-values increasing, captives and OEMs are reimagining lease products to keep their customer bases growing. Roughly a decade ago, 1.4 million new vehicles were leased — a 16% penetration rate. Fast forward to 2019, and lease volume is expected to reach 4.1 million, with penetration as […]

Used-Vehicle Depreciation Forecasted for Spring 2019

Used-vehicle values are likely to depreciate 15% by yearend, compared with the 12.4% total depreciation seen in 2018, Black Book's Executive Vice President of Operations, Anil Goyal, told Auto Finance News. “We had a great year last year in terms of used vehicle value retention, and it’s highly unlikely it’ll repeat itself this year,” Goyal […]

Lift in Fleet Volume Offsets Sagging January Sales

January fleet sales edged higher than expected, easing the decline in new-vehicle sales, according to fresh data from Cox Automotive. Total fleet sales rose 10% year over year in January to nearly 216,000 units, driven mostly by an increase in sales to rental car companies. In January, 67% of fleet vehicles were sold to rental […]

Bank of America Adds 15,000 Carvana Vehicles to Its Buying Site

Bank of America added 15,000 vehicles to its digital car shopping and financing platform through an expanded partnership with Carvana, the companies announced last week. The partnership comes on the heels of a limited pilot with Carvana. In 2018, Carvana was added to Bank of America’s direct-to-consumer mobile car shopping service "in a couple of […]

CPS Eyes Dealer-Based Tech to Bolster Origination Volume, Customer Experience

Subprime lender Consumer Portfolio Services Inc. is allocating funds toward its dealership portal and artificial intelligence as it looks to boost origination volume without sacrificing credit quality, Senior Vice President of Originations Teri Robinsontold Auto Finance News. “We don’t compete as aggressively, we focus a lot on customer service and try to be the lender the dealers want to […]

Dealers Negotiate Lease Prices in New Lexus Program

Toyota Financial Services is piloting its Lexus Complete Lease program with 80 dealerships in seven states, though the timing for a national rollout is still undecided, Joanna Dean, general manager for finance products at TFS, told Auto Finance News. “[TFS] will continuously evaluate the success of the program and decide on the expansion into additional […]
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