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Ally Financial expands used-car share, drives higher yields

Ally Financial‘s focus on used-vehicle originations is propping up its auto portfolio yields, according to the bank’s second-quarter earnings report. “First and second quarter tend to be our heavy used seasons,” Chief Financial Officer Jenn LaClair said on an earnings call yesterday. “And then Q3, and especially into Q4, we tend to have more of […]

Social media do’s and don’ts in auto finance [Podcast]

Engaging with prospective and existing customers through social media is becoming a topic of increasing interest in the auto finance industry, but many questions remain when it comes to how — and in which channels — lenders should spend their time. In this episode of The Roadmap, Auto Finance Excellence chats with Saloni Janveja, executive […]

Auto ABS Volume Closes In on $60B

Year-to-date auto securitization volume hit $57.8 billion at the end of April, with prime loan issuance accounting for the lion’s share of transactions, according to research released today by Deutsche Bank. Prime loan securitization volume totaled $23.7 billion, and subprime volume reached $12.8 billion. The remaining volume was comprised of retail lease ($9.8 billion), fleet […]

Safco Adds 2 Markets in West Coast Expansion

Subprime lender Southern Auto Finance Co. is "moving to the west,"  Chief Executive George Fussell told Auto Finance News. The Fort Lauderdale, Fla.-based lender is boosting its presence in California, a market it entered in February, and has started originating loans in Oregon and Washington. "It's really demographic," Fussell said, noting that immigration, migration, healthcare, construction, and […]

Ally Hits ABS Market With Second $1B Transaction

Ally Financial is bringing $1.12 billion in asset-backed securities to market in a deal that’s expected to close June 11, according to a presale report by S&P Global Ratings issued this week. The deal is Ally’s second this year, propping up the lender's ABS volume to $2.24 billion since January. Ally’s latest transaction consists of […]

YOY Growth Slows at Nation’s Top 10 Financiers

Loan and lease outstandings increased 2.2% last year for the nation’s 10 largest auto financiers, and two top-10 players recorded year-over-year portfolio declines, according to the Big Wheels Auto Finance Data 2019 report released last week. By comparison, portfolio growth among the 10 largest auto financiers was 4.5% in 2017. Wells Fargo Auto posted a 15.6% portfolio decline […]
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