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Consumers, Dealers Seek Greater Transparency Through E-Contracting

Consumers and dealers alike increasingly prefer the transparency and fast funding that comes with e-contracting as lenders who offer the service scored “considerably higher” on the J.D. Power 2018 U.S. Dealer Financing Satisfaction Survey. Dealers scored captives 65 points higher on average while non-captives added 52 points to their overall score when e-contracting options were […]

Poor Returns on Repo-Vehicle Sales Push Losses Higher, Bank Exec Says

Despite default rates remaining steady on repossessed vehicles, the cars are selling for less and causing lenders to experience more loss, Micky Watts, senior vice president of indirect lending at Anderson Brothers Bank, told Auto Finance News. “Defaults have stayed steady for the last few years as far as percentage, but we’re actually losing more […]

Matthew Wood
August 22, 2018
Risk Management

Wall Street Concerned Treasury Bonds Signal 2020 Recession, Economist Says

Wall Street executives believe that tightening in the U.S. Treasury Department’s yield curve is a sign that a recession could hit as soon as 2020, Gunnar Blix, deputy chief economist of Equifax, told Auto Finance News. The yield curve is a tool economists use to track the strength of the economy by following the difference […]

Adding-On Risk: Consumers Rack up Tabs On Ancillary Products

Consumers’ defenses go on high alert when they step into the F&I office to finalize a deal. By that time, they have spent hours in the showroom and researching online, and they just want to drive their car off the lot. Yet, they have to sit through one more sales pitch — for add-on products, […]

William Hoffman
August 16, 2018
Archives, Compliance & Regulation, Features, Risk Management

Joydrive Seeks to Integrate Finance Marketplace Into Online Store

Online retailer Joydrive works with a dealers existing lender network to arrange financing for customers on the site, but in the medium to long-term, the company is seeking a strategic partner to “integrate a financing marketplace,” Chief Executive Hunter Gorham told Auto Finance News. “Early on we decided not to exclusively align with just one […]

William Hoffman
August 13, 2018
Innovation & Technology, Risk Management

How aftermarket products give subprime lenders an edge

Fueled by off-lease volume and consumer demand, used-vehicle sales are nearing record levels. For lenders focused on used vehicles — particularly lenders with subprime practices — these are opportune times. However, lenders need to differentiate their services to scale a profit. By leveraging cloud, auto-decisioning and paperless lending technologies, lenders gain a competitive edge with […]

Aclaró expands into prime auto lending market

Aclaró Inc., the rapidly-evolving artificial intelligence company, has expanded its products and services to the prime auto lending market after successfully launching its disruptive technology in the subprime market. It moves into prime auto loans, permitting a range of lenders, borrowers, and auto dealers to take advantage of industry-leading insights to create better long-term financial […]

State of the subprime auto lending market

Working in the subprime auto lending market, the tendency is to focus on the threats and opportunities that are directly in front of us. We zone in on our specific subprime auto portfolios and do our best to obtain the highest risk-adjusted returns. Ultimately, it is easy to get stuck in the weeds rather than […]

Why low balance letters are not working

Regardless of the industry, there comes a time when certain business practices are followed even though they aren’t the most efficient or most profitable. The legendary Rear Admiral Grace Murray Hopper, a pioneer of computer programming, used to say that the most dangerous phrase in any language is, “We’ve always done it this way.” The auto […]

Aclaró releases EcoSystem 3.0, adds new board member

Aclaró, which provides disruptive technologies to the automotive, financial and government sectors, has released Aclaró EcoSystem 3.0 (ES 3.0), a game-changing toolset for vehicle purchasers, lenders and dealers, and added a new member to its board. With these announcements, the artificial intelligence software company continues the rapid advancement toward its overarching mission of helping lenders, […]

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Auto Finance News The News That Drives the Industry

Tag Archives: finance

Consumers, Dealers Seek Greater Transparency Through E-Contracting

Poor Returns on Repo-Vehicle Sales Push Losses Higher, Bank Exec Says

Wall Street Concerned Treasury Bonds Signal 2020 Recession, Economist Says

Adding-On Risk: Consumers Rack up Tabs On Ancillary Products

Joydrive Seeks to Integrate Finance Marketplace Into Online Store

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