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Tag Archives: auto dealers

Global Lending Services Doubles Originations for Second Straight Year

Global Lending Services doubled its origination volume — for the second straight year — to $1.1 billion in 2018, Chief Executive Steve Thibodeau told Auto Finance News. The subprime lender's origination volume had doubled to $558 million in 2017. Thibodeau attributed the portfolio growth to the company's expanding dealership network, which increased 30%, to 8,000 […]

Bianca Chan
January 29, 2019
Earnings, Operations, Sales & Marketing

How Lenders’ Response Time Influences Dealer Relationships

Automotive OEMs rate vehicle performance by the time it takes to go from zero to 60 in seconds. This is a measure of energy conversion – fuel, spark, movement. While this is a mechanical situation, a comparison can be made to business response times. While fuel is a potential auto loan customer, the spark is […]

EFG Companies
December 21, 2018
Sponsored

DriveItAway Acquires Whip Assets, Cuts Ties With HyreCar

DriveItAway, which provide dealers with the tools they need to offer subscription car services for Lyft and Uber drivers, today acquired the technology and assets of Whip. Whip offers subscription-service infrastructure management to car dealerships and fleet owners. Terms of the deal were not disclosed. DriveItAway also said that it is cutting ties with HyreCar, […]

Nicole Casperson
December 19, 2018
Innovation & Mobility, Strategy

5 Characteristics That Sway Dealers to Send Business to One Lender Over Another

There are some important traits that will sway dealers to send business to one lender rep over to another, according to the Auto Finance Performance: Dealer Insights Report. For instance, dealers prefer reps who are resourceful and able to get funding processed through their connections. They seek reps who are easy to reach and have the ability […]

Marcie Belles
November 28, 2018
Strategy

SunTrust Boosts Tech Investment in Customer Experience

SunTrust Dealer Finance is enhancing its customer experience strategy as it looks to build more efficiency into the auto lending process. To start, SunTrust is “expanding” its client experience when it comes to online versus in-person channels, said Chuck Jones, head of national indirect lending. Already, the bank has increased automation to reduce turnaround time. […]

Monica Melton
November 1, 2018
Sales & Marketing, Technology

5 Ways Lenders Should Prepare for Transition Into 2019

It’s the beginning of October and auto dealers are doing the old car/new car shuffle. Current models are moved out of the indoor spotlight and pushed to the part of the lot where they are “priced to sell.” Showy 2019 models are off-loaded from haulers and placed under those coveted spotlights. 2018 inventory exposure is […]

EFG Companies
October 5, 2018
Sponsored

How Lenders Should Leverage the Power and Promise of Artificial Intelligence

Technology does not wait for rules or regulations. Artificial intelligence (AI) is no exception. The potential profit associated with fintech speeds up innovation, but it also increases the risk of implementing machine intelligence without assessing potential hazards. Simply put, we do not understand how some machines solve problems with deep learning algorithms. This risk can […]

How to Leverage Current Machine Learning and AI Tools in Auto Lending

Auto dealers have heard the hype about how machine learning (ML) and artificial intelligence (AI) are going to transform their businesses. Typically, there are usually two binary outcomes that are discussed. On one hand, the promise of the future seems so bright. Instead of relying on intuition and gut feeling, many divisions of their businesses […]

The Value of User Experience When Managing Risk

Much has been written about the rise of machine learning and artificial intelligence and how it will impact the auto lending industry. While there has been a significant amount of hype, the promise of artificial intelligence is simply game changing. The most obvious application is that thinking machines will be able to assess risk and […]

The Benefits of Artificial Intelligence in Auto Lending

We are inundated with discussion about how new technologies promise to change the way that we do business and live our lives. Yes, many of these proclamations offer rhetorical flourish and grand visions. That said, there are new technologies available and startups that are maximizing these technologies to transform the auto industry — even today. […]

How Lenders’ Response Time Influences Dealer Relationships

How Lenders Can React to Negative Equity Situations

Here’s a commonly heard dialogue: Consumer #1 – “I’d like to buy a new car but I’m still upside down on this one!” Consumer #2 – “Oh don’t worry about that! You can just roll the balance into your new loan!” Consumer #1 – “Great! Let’s get started!” According to Edmunds.com, nearly 33% of car […]

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Auto Finance News The News That Drives the Industry

Tag Archives: auto dealers

Global Lending Services Doubles Originations for Second Straight Year

How Lenders’ Response Time Influences Dealer Relationships

DriveItAway Acquires Whip Assets, Cuts Ties With HyreCar

5 Characteristics That Sway Dealers to Send Business to One Lender Over Another

SunTrust Boosts Tech Investment in Customer Experience

5 Ways Lenders Should Prepare for Transition Into 2019

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