National Automobile Dealers Association | Auto Finance News | Auto Finance News

5 Trends to Watch: 2019 Promises to be an Interesting Year

From the January issue: The pace of U.S. growth is expected to slow, according to most economists, who also think interest rates will rise. There is uncertainty about tariffs and, beyond the economic factors, the race between different lenders, dealers, and manufacturers to overhaul products and services is picking up. But perhaps the biggest challenge […]

Westlake Financial to Launch Direct Lending Portal for Private Party, Dealer Sales

LAS VEGAS — Westlake Financial Services is developing a direct lending portal that will allow consumers to bring preapproved loans to dealerships or private party transactions, Group President Ian Anderson told AFN during a meeting at the National Automobile Dealers Association Expo. The portal, to be called Loan Center, will be released “soon,” Anderson said […]

Mitsubishi Shies Away From Leasing

LAS VEGAS — Despite a push for newer and younger customers to its brand, Mitsubishi Motors Credit North America Inc. is focusing on loans — rather than leases — through its financing partnership with Ally Financial Inc., said Mitsubishi’s Chief Operating Officer Don Swearingen. “I look at some of our competitors whose [lease penetrations] are […]

Leasing Startup Carvoy Introduces Online Captive Financing

LAS VEGAS — Online new-car marketplace Carvoy quietly introduced the ability for consumers to apply for a loan on its website earlier this year, after only having made leasing and cash offers available since the startup launched, Chief Executive Daniel Yuabov told Auto Finance News.   Much of the website’s branding still only shows lease […]

2018 Shift in Auto Lending

In 2017, we saw banks begin to pull back from auto financing, especially in the subprime markets. At the same time, captive lenders utilized manufacturer incentives to increase new vehicle loan volume, and credit unions increased their market share in both the new and used space by filling in the gaps that the banks left […]

Finding the Perfect Balance [SPONSORED]

From the very first time one person loaned another person their hard-earned money or goods, there has been a level of risk on whether they would ever see their money or property again. As the lender, finding that balance between risk and reward created the concepts of payment plans, requiring borrowers to pay back more […]

Used-Car Values Decline Faster Than Expected at Ally, CFO Says

Ally Financial Inc. experienced a faster decline in used-vehicle prices in the first quarter than it originally anticipated, said Chris Halmy, the company’s chief financial officer, during a financial outlook call last week. However, the company plans to stay the course and see what happens in the second quarter, as tax refunds come in, he […]
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