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BBVA, NMAC, TD Bank, Wells Fargo See Tech as Top Priority for 2019

LAS VEGAS — Digital transformation and changing consumer communication trends will be top priorities for four of the nation’s largest lenders in 2019, according to an exclusive Auto Finance News survey of the resource-allocation plans among the companies’ senior executives. Results from the survey of BBVA Compass, Nissan Motor Acceptance Corp., TD Bank, and Wells […]

Used-Car Values: How Lenders Manage Unexpected Appreciation

Roughly two years ago, the automotive market and the economy were heading for a peak year where lenders were aggressive, competition was stiff, and the economic environment was gaining strength. Since then, lenders have taken their foot off the gas, the economy has stabilized, and lenders have operated business as usual — while used-car values […]

Used Vehicle Values Experience ‘Abnormal’ Appreciation, Manheim Says

Wholesale used vehicle prices increased 6.4% despite an expected depreciation, bringing the Manheim Used Vehicle Value Index up to 139.7 — the highest index level seen in the series’ over 20-year long history, Manheim announced Monday morning. Two main factors are contributing to the “abnormal” price appreciation, Manheim notes. First, it is a function of […]

NMAC, BBVA Compass, TD Auto Execs Join Auto Finance Summit Speaker Faculty

Senior executives from three of the nation’s largest financiers — Nissan Motor Acceptance Corp., BBVA Compass, and TD Auto Finance — will offer a strategic evaluation of market conditions during the “Executive Dialogue” session at the 2018 Auto Finance Summit. The discussion will take place on the second day of the summit — Thursday, Oct. […]

Economic Conditions Show Signs of Stress for Auto Lending

With a decade of recovery since the Great Recession, the market is starting to experience some wear and tear, Chuck Berend, director of U.S. auto loans for BBVA Bank, told Auto Finance News. “In auto lending, loan volumes are high, unemployment is very low, consumer spending is up, and everybody wants a car,” Berend said. […]

Ben Atkinson Leaves BBVA for AutoFi, Replaced by Chuck Berend

Ben Atkinson has left his position as senior vice president of auto lending at BBVA Compass to join the online vehicle marketplace AutoFi, as head of lender success — a newly created position, both companies confirmed to Auto Finance News.   He officially left BBVA on April 21st and was immediately replaced by Chuck Berend, who […]

Baseball Statistics Provide Lessons for Auto Finance Industry

The auto finance industry should not only embrace data, but be willing to completely tear down the old ways of thinking to come up with innovative ways of analyzing that data, said Rod Arends, vice president of World Omni Financial Corp., at Used Car Week’s Subprime Forum. Data has “mattered forever, but maybe we didn’t […]
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