Why Penetration Rates Are Dropping at Hyundai Capital, NMAC

LAS VEGAS — Hyundai Capital America expects rising interest rates to squeeze penetration ratios to 40% or 50% by yearend across all its franchise brands, Chief Executive Ross Williams said during a fireside chat at the Auto Finance Summit. Historically, the captive’s penetration rate has hovered around 70%, Williams said. However, the rising interest rate […]

HCA, BMW Financial, Bank of America Win Excellence Awards at Summit

LAS VEGAS — Three companies were recognized for achievement in the auto finance sector during the Auto Finance Excellence Awards ceremony presented Thursday at the 2018 Auto Finance Summit. The annual celebration honors achievement by companies in the automotive lending and leasing industry. Hyundai Capital America was presented an Excellence Award for its dramatic transformation […]

Used-Car Values: How Lenders Manage Unexpected Appreciation

Roughly two years ago, the automotive market and the economy were heading for a peak year where lenders were aggressive, competition was stiff, and the economic environment was gaining strength. Since then, lenders have taken their foot off the gas, the economy has stabilized, and lenders have operated business as usual — while used-car values […]

Auto Finance Feels the Pressure of Fed’s Rate Hikes

Major automakers are reporting declines for U.S. sales as signs of tightening credit conditions are adding pressure to financing options for consumers.  Ford, Toyota, Nissan, and Honda all reported sales declines in September of 11.2%, 10.4%, 12.2%, and 7%, respectively. Though Hyundai sales rose 0.6%, sibling brand Kia was down 1.8%, according to sales reports. […]

HCA, NMAC Battle Dealership Fraud

Hyundai Capital America and Nissan Motor Acceptance Corp. accused a dealer group with operations across Pensylvania and Michigan of failing to repay floorplan loans and selling $10.5 million worth of vehicles out of trust, according to court documents. The dealerships include Hazleton Hyundai and Hazleton Kia in Hazle Township, Pa. Additionally, NMAC filed lawsuits against […]

3 Execs To Discuss the Future of Subscription Models at Auto Finance Summit

Automotive financial companies are racing to introduce new subscription models that promise to offer an alternative to traditional loans and leasing. However, there is little consensus about how these programs should run to be viable long into the future. Three panelists from Hyundai Capital America, Borrow, and Fair will discuss these challenges and the future […]

Used Vehicle Values Experience ‘Abnormal’ Appreciation, Manheim Says

Wholesale used vehicle prices increased 6.4% despite an expected depreciation, bringing the Manheim Used Vehicle Value Index up to 139.7 — the highest index level seen in the series’ over 20-year long history, Manheim announced Monday morning. Two main factors are contributing to the “abnormal” price appreciation, Manheim notes. First, it is a function of […]
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