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Slowing Inventory Turnover Reduces Floorplan ABS Payment Rates

As vehicles idle on dealers’ lots, auto lenders face slower repayment of their floorplan loans. Nissan Motor Acceptance Corp., for one, has been in breach of a floorplan trigger since February, when its three-month payment rate dropped below 35%. As such, NMAC had to increase credit enhancement levels in its floorplan trust. Ally Financial, Ford […]

Auto ABS Volume Closes In on $60B

Year-to-date auto securitization volume hit $57.8 billion at the end of April, with prime loan issuance accounting for the lion’s share of transactions, according to research released today by Deutsche Bank. Prime loan securitization volume totaled $23.7 billion, and subprime volume reached $12.8 billion. The remaining volume was comprised of retail lease ($9.8 billion), fleet […]

Retouching Operations: Bank of the West Adds to Its Financing Palette

From the March issue: Despite a recent industrywide rise in auto loan delinquencies, one legacy prime lender is expanding its product set to satisfy dealer partners. “We needed to reinvent our business model,” Bank of the West Executive Vice President of Personal Finance Michael Pereira told Auto Finance News. “Bank of the West has a […]

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 […]

Bank of the West Seeks to Build Out Floorplan Portfolio

Boosting floorplan financing volume is top of mind for Bank of the West, Michael Pereira, the bank’s executive vice president and head of personal finance, told Auto Finance News. “The flooring is very much integrated within our [retail] program,” Pereira said, adding that the lender is making strides to better connect with and service dealer […]

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 […]

5 Innovative Auto Finance Moves of 2018

A number of auto finance companies rolled out products and services in 2018 that the editors of Auto Finance News found noteworthy, among them: Honcker Adds Insurance to List of App Services Mobile car buying app Honcker added insurance to its platform this year, bringing the company closer to making the entire car buying experience […]
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