Technology | Auto Finance News - Part 4

Tesla Plans to Use Model 3 Lease Program to Stock Ride-Hailing Fleet

Tesla has launched a leasing offer for its $35,000 Model 3 electric sedan — without the standard option that allows consumers to purchase their vehicles at the end of the term. “With full autonomy coming in the future via an over-the-air software update, we plan to use those vehicles in the Tesla ride-hailing network," the […]

Cracking the Code: How to Manage Dealer Relations in the Digital Age

From the April issue: In auto finance, the lender-dealer relationship is one of symbiosis. Yet, in an age where technology is continually advancing, and financing is becoming faster, lenders and dealers agree that being mindful of and maintaining the human relationship is paramount to cultivating a prosperous partnership. Advances in technology — machine learning, artificial […]

Refinance Startup to Stretch Footprint, Double Lender Partners by Yearend

MotoRefi, an automotive refinance startup, is eyeing geographic and partnership growth after securing $4.7 million in seed funding last month, Chief Executive Kevin Bennett told Auto Finance News. Founded in 2017, MotoRefi is a technology platform that connects consumers looking to refinance vehicles with a handful of national and regional lenders that personalize offerings online […]

How Lenders Can Strengthen Dealer Relations With Technology

Restrained auto sales growth, millennial reluctance regarding vehicle ownership, and ridesharing are changing demand and increasing competition. Savvy lenders are adapting to these trends with technology while establishing and solidifying dealer relationships to generate lending opportunities. Two types of technology are especially important for solid dealer relations. No. 1 is integration with dealer management systems, […]

Navy Federal to Strengthen Mobile App as Consumer Preference Evolves

Navy Federal Credit Union is looking to bolster its digital presence as members increasingly turn to online channels to finalize the vehicle finance process, company Consumer Lending Product Strategist Jennifer Felts told Auto Finance Excellence. In the first quarter of 2019, more auto loan applications came in via the credit union’s digital channels than its call center and branches. […]

AFN Announces DEMOvation Participants

Auto Finance News has selected seven startup companies to compete in the third annual DEMOvation Challenge, a showcase of new technology. The event, sponsored by Market Scan, takes place at the Auto Finance Innovation Summit — part of Auto Finance Accelerate — at the Omni Hotel in San Diego, California on Tuesday, May 14. The […]
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