Dealers Prioritize Lender Communication, J.D. Power Survey Finds

As interest rates rise, dealer satisfaction with their lender partners is increasingly reliant on quick and meaningful communication with credit staff, according to the 2018 J.D. Power Dealer Financing Satisfaction Survey released this week. “Satisfaction declines by 163 points, on a 1,000-point scale, when dealers are not able to reach the credit staff,” Jim Houston, […]

Healthy Economy, Rising Challenges: How Climbing Interest Rates Highlight an Uncertain Future

After years of record lows, interest rates are on the rise again — but the Federal Reserve’s 25-basis-point hike in June has yet to send shockwaves through the industry. However, further rate increases — combined with rising gas and new-car prices, looming tariffs, and lengthening loan terms — have put the industry on track for […]

Chase Auto Grows Portfolio by $3.6 Billion in 2Q

JPMorgan Chase & Co. grew its outstandings auto balances, despite originations remaining flat, the bank reported in its second-quarter earnings call today.  Chase Auto Finance’s 2Q loan and lease outstandings reached $83.8 billion — a year-over-year increase of $3.6 billion. Despite a rise in lease originations, total originations remained flat year-over-year at $8.3 billion. In terms of global […]

Chase Renews Jaguar Land Rover Partnership Amid Retail Growth

Jaguar Land Rover North America will retain Chase Auto Finance as its private label lending partner, extending the decade-long relationship, the companies announced today. Chase will continue to provide customized retail, lease, and commercial finance offerings as well as strategic support to more than 330 retailers in the U.S. through Jaguar Financial Group and Land […]

Chase Auto Drives Revenue With Higher Lease Volume in 1Q Earnings

Chase Auto Finance drove revenue higher for the company by growing its lease book, reflecting the company’s optimism in the strength of consumer lending, Chief Financial Officer Marianne Lake said on the earnings call. Chase reported higher revenue that was in part driven by an increase in auto lease volume, the company reported. The bank’s lease […]

Captive Finance Overtakes Banks in 2017 Loan Originations

Captive finance companies saw an increase in auto loan originations in 2017 compared to last year, beating out most banks, according to a new report from CU Direct and AutoCount. Toyota Financial Services reached to No. 2 in 2017, up from No. 6 in 2016, as its originations grew 41% to 1.1 million. American Honda […]

Amid Focus on Prime Credit, Santander’s Losses Climb in 4Q

Despite an increased focus on higher credit borrowers and leasing, Santander Consumer USA’s delinquencies and charge-offs continue to rise. The subprime lender grew lease originations from its flow agreement with Chrysler Capital by 34% in the fourth quarter compared with the same period the year prior, the company reported in earnings today. Additionally, retail finance […]
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