Sales & Marketing | Auto Finance News - Part 4

Used-Vehicle Prices Will Climb as Inventory Dwindles, Manheim Says

Wholesale used-vehicle prices increased 3.2% in February, bringing the Manheim Used Vehicle Value Index up to 135.2. In addition, more-affordable vehicles, such as mid-sized cars, led the way in value appreciation — a continuation of a 2018 trend. Used-vehicle sales volume was also on the rise year over year, at a rate of 2%. Manheim […]

Tricolor Targets New Customers Based on Google Search Patterns

Tricolor Auto Acceptance has implemented Google’s AdWord advertising platform to attract its “very specific consumer” online, Chief Executive Daniel Chu told Auto Finance News. “We have the ability to align marketing and risk,” he said of the new digital strategy that analyzes specific terms searched on Google to reach the no-file and thin-file Hispanic consumers […]

Westlake Exec Joins Speaker Faculty at Auto Finance Sales & Marketing Summit

Westlake Financial Services Senior Vice President of Sales & Marketing Mark Vazquez has joined the  Auto Finance Sales & Marketing Summit speaker faculty to share lender best practices on presenting a company’s value proposition to attract more consumers. Vazquez takes the stage on May 13 at 11:15 a.m. PT for a presentation where he’ll touch […]

Tesla Pivots to Online-Only Sales Model

Tesla will be shifting its worldwide sales model to an online-only platform, starting with North America, the company said in a statement last week. The electric OEM will also be closing many of its brick-and-mortar dealerships, leaving “a small number of stores in high-traffic locations remaining as galleries, showcases, and Tesla information centers,” the company […]

ACI Worldwide Acquires Speedpay to Better Its Subscription-Based Payments Service

Mobile bill presentment is at the heart of ACI Worldwide‘s $750 million all-cash acquisition of bill pay service Speedpay from Western Union announced on Thursday. “ACI has a strong e-Commerce space, merchant fraud offering and we also have recurring billing,” Sanjay Gupta, SVP of ACI On-Demand, told Bank Innovation. “But at the same time we need to rise to meet […]

How Lenders Can Take Advantage of Mobility as a Service

The carshare and rideshare markets are gaining traction, and financiers must adapt their strategies or risk getting left behind. “The challenge for lenders today is that they aren't managing the loan properly because they don’t know they are financing vehicles for the rideshare and carshare consumer,” Brian Allan, senior director of strategic partnerships at HyreCar, […]

Bank of the West Seeks to Build Out Floorplan Portfolio

Boosting floorplan financing volume is top of mind for Bank of the West, Michael Pereira, the bank’s executive vice president and head of personal finance, told Auto Finance News. “The flooring is very much integrated within our [retail] program,” Pereira said, adding that the lender is making strides to better connect with and service dealer […]

How Personalization Leads to a Better Borrower Experience

Welcome to the personalization revolution. Generic campaigns and mass-market offers are approaching obsolescence as marketers in all industries, including financial services, find that highly targeted and customized content based on sophisticated data analytics and tailored to a prospect’s demographics, preferences, and past behavior are the keys to success. Now, 85% of customers expect personalized content […]
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