How NMAC Uses Technology to Improve the Customer Experience

Technology is playing a more important role in auto financing as car buyers increasingly look for lenders to provide digital options for communication and payment. Finance organizations, including Nissan Motor Acceptance Corp., are meeting their customers’ expectations with online portals, text communications, and mobile computing applications. Brian Massey, NMAC’s director of collections and loss recovery, was […]

Slowing OEM Production to Fuel Affordability Challenge, Analyst Says

Recent OEM exits of lower-priced vehicle segments will limit availability and squeeze auto affordability in 2019, said Jonathan Smoke, chief economist at Cox Automotive Inc. “We’re starting to see announcements from major manufacturers about ceasing production of mostly more affordable cars, and so that reduces the number of units available for sale,” Smoke said. In […]
  • Bianca Chan
  • December 6, 2018
  • Risk

Auto Finance News Launches Week-Long Event for Spring 2019

Auto Finance News today introduced a new event, called Auto Finance Accelerate. The week-long event series focuses on all facets of auto finance operations including sales, marketing, innovation, and risk. The inaugural Auto Finance Accelerate week will take place May 13-16, 2019, at the Omni San Diego.   Produced by Auto Finance News and Royal […]

Canadian OEM Electra Meccanica Seeks Financing Partner Amid Launch of First Model

Electra Meccanica is seeking lending partners for its new model slated to debut in January 2019, CEO Jerry Kroll told Auto Finance News.  “We control financing ourselves and have it in-house, but if we can get some of the big banks and financial institutions supporting this [car], that’s what we’re all about,” Kroll said. Kroll is confident […]

Fleet, SUV Sales Buoy November SAAR

November’s seasonally adjusted annual rate of light vehicle sales climbed 1.2% year-over-year, to 17.5 million units, and that benefitted car manufacturers heavy with sport-utility vehicles in their product lineup. “The car-to-SUV ratio, on the monthly sales, were about 70% light trucks, SUVs, van, and pickups, and only 30% cars,” Edmunds Data Strategy Manager Jeremy Acevedo told […]

Rifco Expands Warehouse Facility Despite Slowing Originations

Rifco National Auto Finance renewed and expanded a securitization warehouse facility with Schedule 1 Charter Bank last week. Though Rifco’s utilization limit was bumped up to $40 million from $30 million, the Canadian lender plans to keep originations in the $120-million range, as stated in its 2019 objectives. “Rifco pursues growth within constraints of profitability […]

Honcker Adds Auto Insurance Options to Growing List of App Services

Startup Honcker has added 10 insurers to its leasing app to create a holistic mobile car-buying process, Chief Executive Nathan Hecht told AFN. “We’re trying to make the entire process — not just the transaction of the lease itself — simple, without [consumers] having to walk into a dealership,” Hecht said. “Now we’re looking at […]

Despite Decline in November, Interest Rates Set to Rise, Edmunds Says

The auto industry is bracing for a 25-basis-point increase in interest rates later this month, but a boost in 0% financing deals reduced average APRs in November, according to data provider Edmunds. Average APRs on new vehicles fell to 6% in November from 6.2% in October, according to Edmunds’ Third-Quarter Used-Car Market Report. Zero percent […]
1 2 3 4 703