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USAA Bank Tees Up Subscription Services at Auto Experience Lab

USAA Bank’s Auto Experience Lab is working to enter the subscription service market, but even after seven years of development, rollout for that service is still “under the queue of projects to complete,” James Spears, assistant vice president at USAA Auto Experience, told Auto Finance News. Much of the work in the lab is dedicated […]

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 […]

Residual Values Are Risk Factor in BMW Financial’s First Auto Lease ABS of 2018

BMW Financial Services of North America issued its first U.S. auto lease ABS of 2018 backed by a pool of outstanding lease receivables totaling $1.16 billion, according to presale reports. The new securitization is comprised of 33,670 prime auto lease receivables with an average FICO score of 789 and maximum lease term of 36 months, according […]

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. […]

Nissan Introduces Brain-to-Vehicle Technology [Video]

With the Consumer Electronics Show (CES) approaching, automakers are showing off their latest technological advancements in autonomous vehicle research, including Nissan’s new brain-to-vehicle technology. Brain-to-vehicle, or B2V, is the concept of a car anticipating your driving reactions even before you have the chance to start turning the wheel or applying the brake. This neural interface, […]
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