Black Book | Auto Finance News | Page 4 | Auto Finance News - Part 4

Auto Finance Needs a ‘Subprime Correction,’ CPS Says

Consumer Portfolio Services intends to “stay the course” rather than be more aggressive in loan terms and higher mileage vehicles because 2017 is the year for a “subprime correction,” Chief Executive Charles Bradley told Auto Finance News. He cited the recent string of under performing fourth quarter earnings as evidence of this subprime correction. “There […]

Lease Volume Has Hit a ‘Plateau,’ Black Book Says

Leasing grew to 30% of total car purchase volume in 2016 and off-lease volume grew by 25% compared to the year prior, which could signal a “plateau” in the leasing market, said Anil Goyal, senior vice president of operations at Black Book. Leasing is a captive business, and the captives get support from the manufacturers […]

Used Car Values Depreciated Fast in 2016, Expected to Continue

Used vehicle values depreciated at a faster pace in 2016 than any period since the great recession — driven in large part by off-lease volume, said Anil Goyal, senior vice president of operations at Black Book. All vehicle models experienced an average 12-month depreciation rate of 17.3% for the 1-year period ending in January, up […]

Vehicle Sales Expected to Drop After Breaking Record in 2016

Automakers sold 17.55 million vehicles in 2016, marking the second consecutive year of record sales, however, this pattern has  “hit a peak,” Anil Goyal, senior vice president of operations at Black Book, told Auto Finance News. A combination of declining used-vehicle values and tightening subprime credit will constrict sales growth in the new year, he […]

Survey Finds Lenders Want to Use Residual Data, But Can’t Access It

Despite 74% of lenders believing residual data is either critical or valuable in key areas to their business, 64% of lenders do not leverage the data when evaluating portfolios, according to new survey conducted by Black Book.  The company surveyed more than 500 auto lender executives about their portfolio strategies in early September and released the findings […]

Synchrony’s Mait to Participate in Fireside Chat at PowerSports Finance 2016

Keith Mait, vice president and industry leader for Synchrony Financial’s powersports business, will sit down for a fireside chat at PowerSports Finance 2016, on Oct. 5 in Las Vegas. At Synchrony, Mait is responsible for driving strategic direction and profitable growth for the lender’s powersports segment across a number of OEM partnerships. Additionally, Keith has responsibility […]
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