Bank of America Expects Direct Volume to Match Indirect Within 5 Years

SAN DIEGO — Bank of America‘s direct loan portfolio may catch up with its indirect portfolio as soon as 2022, Duane Freeman, senior vice president of consumer vehicle lending and national sales executive, predicted during a panel discussion at the inaugural Auto Finance Sales & Marketing Summit on Monday. “We do see a future within the […]

• Bianca Chan
• May 17, 2019
• Auto Finance Accelerate 2019, Operations, Sales & Marketing, Strategy, Update

Outstandings Hit Record Despite Slowing Growth, New Big Wheels Report Shows

The auto finance market eked out 2.1% growth in 2018, as loan and lease outstandings hit an all-time high of $1.16 trillion, according to the newly released Big Wheels Auto Finance Data 2019. Big Wheels is the nation's only ranking of the top 100 auto financiers in the U.S. by outstandings and originations. Toyota Financial […]

• Bianca Chan
• May 14, 2019
• Capital Markets, Operations, Strategy

Deadline Nears for Big Wheels Submissions

With the deadline looming, now’s the time to submit 2018 results for inclusion in Big Wheels Auto Finance Data: A Ranking of the Nation’s Top Car Financiers. Submissions are due March 8. Big Wheels produces the definitive tabulation of automotive lending and leasing activity in the nation. It offers a unique opportunity to include your […]

• Bianca Chan
• March 6, 2019
• Operations

Westlake Exec Joins Speaker Faculty at Auto Finance Sales & Marketing Summit

Westlake Financial Services Senior Vice President of Sales & Marketing Mark Vazquez has joined the  Auto Finance Sales & Marketing Summit speaker faculty to share lender best practices on presenting a company’s value proposition to attract more consumers. Vazquez takes the stage on May 13 at 11:15 a.m. PT for a presentation where he’ll touch […]

• Nicole Casperson
• March 4, 2019
• Sales & Marketing

Big Wheels Auto Finance Query Posted Online

Financiers may now electronically submit 2018 results for inclusion in Big Wheels Auto Finance Data: A Ranking of the Nation’s Top Car Financiers. Big Wheels produces the definitive tabulation of automotive lending and leasing activity in the nation. It offers a unique opportunity to include your company’s performance among a ranking of the best of the best in […]

• Marcie Belles
• February 14, 2019
• Capital Markets, Earnings, Operations

Navy Federal Credit Union ‘Bullish’ on 2019 Despite Expected Origination Slowdown

Navy Federal Credit Union is “bullish on 2019,” as it plans to build membership, invest in infrastructure, and boost originations, Vice President of Consumer Lending Joe Pendergast told Auto Finance News. NFCU is on track to originate $8.2 billion of auto loans by yearend, Pendergast said, up 14% year over year. But growth in 2019 […]

• Bianca Chan
• December 17, 2018
• Operations, Strategy

Credit Unions Jockey for Marketshare

As used-car financing gains popularity and banks shy away from new-car loans, credit unions are jockeying for marketshare, partnering with service providers and teaming with other lenders to spark auto loan interest. “[Banks are] making a lot of moves that are making it easy for us,” Chris Whittaker, director of lending services at Oregon Community […]

• Auto Finance News
• June 15, 2018
• Archives, Credit Performance, Features, Operations, Strategy

Westlake Plans Expansion Into Canada, Puts Used-Leasing on Backburner

Westlake Financial Services is “aggressively looking to grow” its business into Ontario, Canada, in the third or fourth quarter, Group President Ian Anderson told Auto Finance News. Westlake will begin by making itself available to dealers through Dealertrack, as well as by sending physical representatives to dealerships to introduce the lender to the market. “We […]

• Emma Sandler
• May 17, 2018
• Archives, Operations, Strategy