Roadrunner Financial Aims to Double Originations in 2018

Near-prime lender Roadrunner Financial is seeking to double the total originations earned year over year, Mark Davidson, head of sales, told Powersports Finance. Roadrunner is already on pace to complete this goal, which has been caused in part by new data that has been collected over the last several years, validating their credit models and allowing the company […]
  • Matthew Wood
  • April 13, 2018
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Ally Seeks to Expand Blinker Partnership During ‘Innovation Period,’ Russi Says

LAS VEGAS — Blinker’s newly inked alliance with Ally Insurance will likely be expanded to the retail financing side of the bank, said Ally President of Auto Finance Tim Russi. “I certainly think it will [turn into a lending partnership]” Russi told Auto Finance News. “We want to do more with [Blinker].” Last month, Blinker […]
  • William Hoffman
  • April 13, 2018
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Say Goodbye to 0% Interest [SPONSORED]

After three years of marginal interest rate hikes, auto lenders and dealers are saying goodbye to zero percent financing offers. Zero percent interest offers fell to 7.4% of total new car sales in March compared with 11% of sales the year prior, according to Edmunds. Additionally, the average interest rate on new car loans climbed […]
  • EFG Companies
  • April 13, 2018
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CFPB Director Mulvaney Backs Commission Structure in Congressional Hearing

Consumer Financial Protection Bureau Acting Director Mick Mulvaney spoke before Congress this week to tout legislative changes to the structure of the regulator he’s advocating. Although Mulvaney stopped short of asking Congress for a bipartisan commission structure in his semi-annual report released last week, he seemed to support the idea during a hearing before the […]
  • Emma Sandler
  • April 12, 2018
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Credit Acceptance President Announces Retirement As Risks Mount

President of Credit Acceptance Corp. Steven Jones announced his retirement amid a time of regulatory scrutiny from states and increased risk in the lender’s portfolio.  His retirement begins effective June 30, according to the announcement from a Securities and Exchange Commission filing last week that provided no other details. The timing comes as both office’s […]
  • William Hoffman
  • April 12, 2018
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OEMs Form Chinese Leasing Unit to Attract Millennials

Groupe PSA’s captive, Banque PSA Finance, and its Chinese manufacturing partner, DongFeng Motor Corp., have formed a leasing joint venture to attract millennials. The two companies already operate jointly in China as DongFeng Peugeot Citroën (DPCA), with a lending captive called DongFeng Peugeot Citroën Auto Finance Co. (DPCAFC). “The emergence of millennials as future core […]
  • Emma Sandler
  • April 12, 2018
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