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2019 Survival Guide: How Lenders Are Planning for the Year Ahead

From the January issue: 2018 was a strong year for auto finance as delinquency rates dropped, the economy grew, and consumer demand remained high. However, the new year finds lenders and analysts bracing for an economic slowdown. But that’s not the only worry. New-car purchases are lagging, according to Manheim’s November data, which has new-vehicle sales […]

Anderson Brothers Says It’s on Target for Double-Digit Origination Growth

Anderson Brothers Bank, which operates 23 branches in South Carolina, is on track to increase auto loan originations 22.5% this year and as much as 20% in 2019, according to Micky Watts, the bank’s senior vice president of indirect lending. The bank specializes in subprime and near-prime loans. While larger banks in North and South […]

Poor Returns on Repo-Vehicle Sales Push Losses Higher, Bank Exec Says

Despite default rates remaining steady on repossessed vehicles, the cars are selling for less and causing lenders to experience more loss, Micky Watts, senior vice president of indirect lending at Anderson Brothers Bank, told Auto Finance News. “Defaults have stayed steady for the last few years as far as percentage, but we’re actually losing more […]