How Captives Are Reacting to 6 Industry Trends

Captive financial companies are often at the forefront of technology as they are able to tap the manufacturer’s offers to deliver sales, and this year has been no exception. Buzz around autonomous cars has pushed captives to think more about mobility services, slowing sales have inspired companies to invest in alternative credit scoring models, and […]
  • William Hoffman
  • November 3, 2017

5 Excellence Awards Presented at Summit

LAS VEGAS — Four companies and one industry executive were recognized for achievement in the auto finance sector at a special ceremony at the 2017 Auto Finance Summit on Thursday. Security Service Federal Credit Union and Ford Motor Credit Co. were presented Excellence Awards for their No. 1 ranks — for prime and nonprime/subprime, respectively […]
  • Emma Sandler
  • October 30, 2017

Lenders Offer Financial Relief to Borrowers After Irma

As those affected by Hurricane Irma begin recovery efforts, auto lenders are offering financial assistance and relief efforts. Early estimates of Irma’s total economic destruction before it made landfall pinned the cost at $100 billion, AccuWeather President Joel Myers said in a statement last Sunday. It’s still unclear how much of that damage will be […]
  • Huixin Deng
  • September 14, 2017

Auto ABS Issuers Pull Pools Back From Harvey, Irma Impacted Areas

During one of the busiest times for the secondary market, auto lenders are excluding vehicles affected by Hurricane Harvey from ABS issuances over fears of negative-equity deals, according to presale reports.   Exeter Finance Corp., Fifth Third Bank Dealer Financial Services, Ford Motor Credit Co., and Santander Consumer USA have all removed vehicles from their […]
  • William Hoffman
  • September 12, 2017

Auto Lenders Provide Relief Amid Hurricane Harvey Devastation

The full economic impact of Hurricane Harvey on the auto industry has yet to be determined, but in the short term it’s clear that many consumers are going to need financial assistance and a number of lenders have stepped up to provide donations and consumer relief. Cox Automotive estimates between 300,000 and 500,000 vehicles could […]
  • William Hoffman
  • September 6, 2017

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

5 Auto Finance Offers For Labor Day Weekend

As summer draws to a close, many customers look forward to snagging a good end-of-summer car deal on Labor Day weekend. Auto lenders are ramping up incentives to help bolster car sales and clear out carryover inventory. As the car model year changes, the 2018 models are coming out while the majority of the 2017 […]
  • Huixin Deng
  • September 1, 2017

AutoFi Raises $10 Million Series A to Grow Beyond Ford Credit

AutoFi raised $10 million in Series A funding, which it plans to use to “accelerate” the growth of its lender, manufacturer, and dealer partners, the fintech company announced today. The latest funding round includes existing investors Crosslink Capital, Ford Motor Credit Co., and Lerer Hippeau Ventures. AutoFi has also entered into a strategic agreement with Tricor […]
  • Emma Sandler
  • August 24, 2017

Ford Credit Lease Returns Leap 29% as Originations Dip in 2Q

Ford Motor Credit Co. reported a 29% year over year uptick in lease return volume to 80,000 vehicles in the second quarter — the highest lease return volume on record dating back to at least 2010 reports, according to its earnings released today. The captive attributes the surge in lease returns to growth in leasing and higher […]
  • Emma Sandler
  • July 26, 2017

Ford Credit Canada Preps Floorplan Securitization

Ford Credit Canada has issued its first floorplan securitization since 2013, and ratings agency DBRS expects the new issuance will perform similarly well despite a slowing auto market. The $460 million securitization is backed by floorplan receivables on an inventory of Canadian vehicles at Ford dealerships. DBRS notes the issuance’s strength is the lender’s “stable and […]
  • William Hoffman
  • July 17, 2017
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