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Tag Archives: new vehicle sales

Lift in Fleet Volume Offsets Sagging January Sales

January fleet sales edged higher than expected, easing the decline in new-vehicle sales, according to fresh data from Cox Automotive. Total fleet sales rose 10% year over year in January to nearly 216,000 units, driven mostly by an increase in sales to rental car companies. In January, 67% of fleet vehicles were sold to rental […]

Bianca Chan
February 12, 2019
Sales & Marketing, Update

How Smaller Tax Refunds Could Impact Auto Finance in 2019

The potential for fewer or decreased tax returns as a result of the 2017 tax act will likely bring down vehicle sales this spring, Chief Executive of JoyDrive Hunter Gorham told Auto Finance News. “Consumers use the tax refund as a whole down payment, and they won’t be a buyer [this year] without that down […]

Nicole Casperson
January 29, 2019
Risk, Sales & Marketing

Electric Vehicle OEM Offers Drive Motors’ Digital Financing

Electric vehicle startup Karma Automotive has synced up with digital sales platform Drive Motors to power its online checkout option for consumers. Drive Motors, which counts Ally Financial Inc. as a preferred lender on its platform, enables consumers to get fully approved for loans in less than a minute, Chief Executive Aaron Krane told Auto […]

Monica Melton
November 22, 2018
Innovation & Mobility, Sales & Marketing, Technology

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. […]

Nicole Casperson
October 4, 2018
Earnings, Operations

Compliance considerations when buying and selling customer leads

As an auto lender, you’re likely aware of the due diligence required when purchasing consumer leads. Lenders must exercise the same diligence when referring — or selling — declined leads downstream. Purchasing customer leads via referral programs has adapted as technology has allowed online lenders to communicate instantaneously with potential customers. Due to the nature […]

An inside look at 2 new credit scoring models

Ever since the concept of loaning money was conceived, lenders have been trying to find the ideal way to predict who will pay them back and who will default. Over time, methods for evaluating the likelihood of borrower repayment progressed from individual human judgment calls to more objective credit bureaus and reports. Today, scores often […]

Tech Partnerships Help Drive Digital Transformation in Auto Finance

Aclaro, a company that develops tools for companies in the automotive industry, recently announced game-changing news that validates its mission of helping small, scrappy dealerships compete with larger competitors. As part of its efforts to deliver five-star service for its clients, Aclaro joined the Microsoft Partner Network, allowing the company to continue building its business […]

How Lenders Should Leverage the Power and Promise of Artificial Intelligence

Technology does not wait for rules or regulations. Artificial intelligence (AI) is no exception. The potential profit associated with fintech speeds up innovation, but it also increases the risk of implementing machine intelligence without assessing potential hazards. Simply put, we do not understand how some machines solve problems with deep learning algorithms. This risk can […]

How to Leverage Current Machine Learning and AI Tools in Auto Lending

Auto dealers have heard the hype about how machine learning (ML) and artificial intelligence (AI) are going to transform their businesses. Typically, there are usually two binary outcomes that are discussed. On one hand, the promise of the future seems so bright. Instead of relying on intuition and gut feeling, many divisions of their businesses […]

The Value of User Experience When Managing Risk

Much has been written about the rise of machine learning and artificial intelligence and how it will impact the auto lending industry. While there has been a significant amount of hype, the promise of artificial intelligence is simply game changing. The most obvious application is that thinking machines will be able to assess risk and […]

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Tag Archives: new vehicle sales

Lift in Fleet Volume Offsets Sagging January Sales

How Smaller Tax Refunds Could Impact Auto Finance in 2019

Electric Vehicle OEM Offers Drive Motors’ Digital Financing

Auto Finance Feels the Pressure of Fed’s Rate Hikes

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