Nissan Dealerships Slapped With $40M Fine for Loan Defaults

Nissan Motor Acceptance Corp. has won its legal battle with a group of Manhattan-based franchise dealerships. The captive is entitled to $40.1 million after the dealerships and their guarantors defaulted on loan obligations, according to court documents. The litigation was sparked by the dealerships initially suing NMAC for a “breach of contract,” the filing notes. […]

Looming Tariff Threat to Lessen New-Vehicle Sales, ABS Volume

MIAMI — Auto ABS is experiencing strong performance this year, but President Donald Trump’s trade war and tariff threat on imported auto parts are expected to prompt a downturn in securitization volume, Jamie Feehely, managing director of securitization at National Bank, said during ABS East last month. “There are no securitizations done that are 100% […]

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 […]

Credit Union Auto Loans Experience Growth Amid Rising Interest Rates

Credit union auto loan originations for both new and used increased year-over-year, according to the Credit Union National Association (CUNA). The increase is attributed to the rising interest rate environment as credit unions have traditionally had better rates than its competitors, Sonya McDonald, executive vice president, and chief lending officer for Randolph-Brooks Federal Credit Union, […]

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 […]

NMAC’s Strategic Involvement in Alliance Drives Growth in Mexico, Canada

Nissan Motor Acceptance Corp. is leveraging its strategic partnership with the Renault-Nissan-Mitsubishi Alliance as it looks toward greater expansion in markets throughout North America, President Kevin Cullum told Auto Finance News. “[The alliance] enables the expansion of our support responsibilities in North America for sales finance,” Cullum said. Overall, the alliance provides NMAC the opportunity […]

NMAC, BBVA Compass, TD Auto Execs Join Auto Finance Summit Speaker Faculty

Senior executives from three of the nation’s largest financiers — Nissan Motor Acceptance Corp., BBVA Compass, and TD Auto Finance — will offer a strategic evaluation of market conditions during the “Executive Dialogue” session at the 2018 Auto Finance Summit. The discussion will take place on the second day of the summit — Thursday, Oct. […]

NMAC to Offer Subscription Service if Demand Persists, President Says

Nissan Motor Acceptance Corp. has plans in the works to offer consumers a subscription service if that’s where the market continues to shift, company President Kevin Cullum told Auto Finance News. The captive is looking into several options to support the market demands toward the subscription space. Although he said the subscription model is more […]
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