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Fair joins RouteOne

Subscription app Fair is set to be featured as an available finance source to more than 18,000 dealerships as the startup integrates with RouteOne, the companies announced today.  Fair’s integration places the startup as a finance option on RouteOne’s platform alongside companies like Ally Financial, Chase Auto, Toyota Financial Services and 1,400 other lenders. Fair […]

Canadian ABS market remains strong despite consumer bankruptcies

Receivables underlying asset-backed securitizations in Canada continue to perform “extremely well” despite a 6% year-over-year increase in consumer bankruptcy filings, according to a recent DBRS report. In fact, a first quarter Consumer Credit Report by DBRS showed cumulative credit losses in auto loan securitizations remained low at 0.09% for the 2018 vintage. Through July, the Canadian securitization […]

Westlake taps CarFinance to grow refi business

Westlake Financial Services has inked a deal to start purchasing auto refinance loans originated through CarFinance, the companies announced this week. The goal of the partnership is to “complement” Westlake’s direct lending platform, LoanCenter, with auto loan refinancing, Ralph Ontiveros, vice president of Westlake services and lending solutions, said in a press release. The Los Angeles-based […]

Ford Credit finance volume drops 14% year over year

Ford Motor Credit’s total volume of units financed has declined 13.7% year over year to 70,793 units financed in July, according to AutoCount data from Experian. In a couple emblematic states, the captive’s volume decreased more than 30%. In Texas, Ford Credit’s number of loans and leases financed dropped 31.3% to 5,979 units in June. […]

3 strategies for lenders to mitigate internal threats to consumer data security

With the enactment of the California Consumer Privacy Act of 2018 and the barrage of copycat legislation in other states, there has been significant focus on consumer data and privacy issues from the vantagepoint of the consumer: what information is collected and how consumers can direct companies what to do — or not do — with that information. While the discussion has largely […]

Ally Financial scores investment-grade rating

Ally Financial’s long-term default rating has reached investment-grade status after an upgrade by Fitch Ratings, thanks to a boost in profitability stemming from increased used-car originations. The upgrade is a plus for Ally since investment-grade paper is typically in higher demand by investors, Michael Taiano, senior director of the Financial Institutions Group at Fitch Ratings, […]

Clutch Technologies debuts fleet-valuation tool for subscription service providers

Clutch Technologies, a software company focused on subscription and mobility services, launched two tools this week for dealers and manufacturers to manage fleet size, mix, and usage. The first product addresses fleet valuation by leveraging remarketing data from Cox Auto subsidiaries Manheim, Kelley Blue Book, and Cox Automotive Data Solutions (CADS). The tool provides wholesale […]
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