Sales & Marketing | Auto Finance News - Part 9

New-Vehicle Retail Sales Seen Dipping in December

J.D. Power and LMC Automotive forecast that new-vehicle retail sales for December will be down 1% from December 2017, the sixth consecutive monthly decline, and that retail sales for all of 2018 will be off 1.3% from full-year 2017. The research companies expect December retail sales to come in 1.3 million units. For the year, […]

Experian Integrates Alternative Credit Criteria, Increasing Lending Pool

Experian’s plan to integrate telecom and utility bill payments into credit profiles should help lenders originate loans to a broader pool of consumers, according to Greg Wright, Experian’s consumer bureau chief product officer. “Lenders can actually see [consumers’] true creditworthiness and what their real financial behavior is,” Wright told AFN. Early testing and analysis showed […]

Alliant Credit Union Reaches $80 Million Milestone with TrueCar

Alliant Credit Union, which partnered with an online automotive marketplace TrueCar in 2015, said as of December 2018 that it has originated 3,000 auto loans worth $80 million through the platform and that Alliant members have saved $4 million off manufacturers’ suggested retail prices. TrueCar allows Alliant members to access certified-dealer inventory, check vehicle prices, […]

Higher Used-Car Volume Could Benefit Captives, HCA Says

Though slipping new-car sales typically translate to lower origination volume for captives, increased flow of off-lease vehicles in the market could dull the sting next year. The goal of a manufacturer’s captive is to finance new vehicles for its OEM, but an influx of used vehicles can benefit an enterprise, Marcelo Brutti, chief risk officer […]

Anderson Brothers Says It’s on Target for Double-Digit Origination Growth

Anderson Brothers Bank, which operates 23 branches in South Carolina, is on track to increase auto loan originations 22.5% this year and as much as 20% in 2019, according to Micky Watts, the bank’s senior vice president of indirect lending. The bank specializes in subprime and near-prime loans. While larger banks in North and South […]

Sedan Sales Marketshare Falls to Record Low in November

Sedan popularity has dropped to an all-time low, as evidenced by November’s new-vehicle sales figures. As a percentage of new-vehicle sales, sedan — or “car” — segment marketshare dropped to 28.8%, the lowest monthly share on record, according to Cox Automotive unit Manheim. By comparison, the segment that comprises light-duty pickups, vans, SUVs, and crossovers […]

Reinventing Loyalty: 4 Companies Transforming the Customer Experience

From the December issue: Customer experience is seen as the key to attracting and retaining consumers in an increasingly digital world. Unfortunately, providing quick and easy interaction has not been auto financing’s strong point. Historically, car buyers have been left feeling overwhelmed with paperwork, confused by ancillary products, and exhausted from negotiating price options. However, […]
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