AI in Auto Finance Overtakes List of 2017’s Most-Read Mobility Stories

It seems 2017 officially reached the mobility tipping point, where autonomous vehicles, car subscriptions, and mobility services have continually gained momentum. Artificial intelligence got its fair share of interest from the auto finance industry, as many lenders looked to machine learning to bolster credit decisioning, among other use-cases. Meanwhile, Daimler Financial Services and RCI Bank […]
  • Emma Sandler
  • December 28, 2017
  • 1

11 Executives Offer Predictions for 2018

From the expansion of mobility services to technology enhancements and continued depreciation of used-car values, a lot has been stirring in the auto finance space this year. And even more change is anticipated next year, according to some executives in the auto finance sector. Auto Finance News asked eleven executives, “What are your predictions for […]
  • Natalie Mattila
  • December 28, 2017
  • 0

Startup Fair Poised to Buy Uber’s Subprime Leasing Unit

Startup Fair plans to purchase Uber Technologies Inc.’s U.S. subprime unit Xchange Leasing, according to a published report. The net book value of Xchange Leasing’s more than 30,000 vehicles was roughly $400 million, The Wall Street Journal reported Tuesday. Fair — which offers a used-car, no-commitment leasing app — is expected to give jobs to about […]
  • Natalie Mattila
  • December 26, 2017
  • 0

Waymo Partners With Insurance Startup to Roll Out Ride-hailing Service

Following Waymo’s announcement in November that it would launch a commercial ride-hailing service in 2018, Waymo has partnered with a startup to provide the proper insurance. Waymo currently operates a beta ride-hailing service to the public in Phoenix, Ariz., and will be work with Danville, Calif.-based Trov to provide on-demand trip insurance customized for passengers of Waymo’s soon-to-be-launched […]
  • Emma Sandler
  • December 19, 2017
  • 1

Why Dealers Should Embrace Digital Disruption Amid Millennials’ Mobile-Only Mindset

Only 17 out of 4,002 consumers prefer the current car-buying process, and as these “smartphone-wielding consumers” continue to embrace today’s digital world, this disconnect will begin to find its way to the bottom line, according to a recent white paper from used-car leasing app Fair. “No matter their stellar customer service or revolutionary sales practices, […]
  • Natalie Mattila
  • December 11, 2017
  • 0

BMW Investment in Fair Signals Potential Partnership

BMW i Ventures’ recent investment in Fair — a used-car, no commitment leasing app — might evolve into a “strategic business partnership,” Fair Co-Founder Georg Bauer said at the Auto Finance Summit. “There are ways of turning this monetary investment into a strategic business partnership,” Bauer said, adding that, for now, it is “a starting […]
  • Natalie Mattila
  • November 15, 2017
  • 0

Fair to Close Funding Round, Secures Offers for Nearly $1 Billion in Capital

Fair — a used-car, no commitment leasing app — is closing a strategic funding round for an undisclosed amount and has additionally secured offers for nearly $1 billion in capital from a group of institutional investment banks, the company announced today. The funding round was led by BMW i Ventures, and includes investments from other […]
  • Natalie Mattila
  • October 20, 2017
  • 1

Pricing for Affordability: Fair’s Mobility Structure Explained

Plenty of new startups are experimenting with the new models of car ownership and for the mobility company Fair, that thinking extends to a fundamentally new way of thinking about a consumer’s credit and how to price a vehicle, the co-founders told Auto Finance News. “For 100 years, we have been making people borrow money […]
  • William Hoffman
  • September 15, 2017
  • 1

Used-Car Leasing App Debuts All-in-One Payment Model

Fair — a used-car, no commitment leasing app — launched Tuesday, which the founders are calling an “iTunes account for your car” offering an all-in-one monthly payment model. Fair allows customers to shop for a car based on a prequalified monthly payment range tailored to their budget, and includes the flexibility to walk away with […]
  • Natalie Mattila
  • September 11, 2017
  • 1

Reinventing the Aftermarket: Will All-Inclusive Subscription Services Be the Next Big Thing?

While “all-inclusive” is a pretty well-known concept in the resort world — many vacation spots boast carefree, wallet-less getaways, where everything is included in one price — the term is almost foreign in auto finance. But that is poised to change, as several lenders adapt the “all-inclusive” concept into their business models, with an aim […]
  • Natalie Mattila
  • September 1, 2017
  • 1
Page 1 of 212