LendingTree and RouteOne partner to increase indirect loans

RouteOne‘s new integration with LendingTree will likely boost the number of indirect auto loans for lenders and create “incremental sales opportunities for dealers,”  the companies announced this week. With the integration, LendingTree’s platform presents consumers up to five personalized loan offers and funnels those applications to RouteOne, which connects thousands of dealers and lenders with […]

• Bianca Chan
• October 16, 2019
• Innovation & Technology, Sales & Marketing

Fair joins RouteOne

Subscription app Fair is set to be featured as an available finance source to more than 18,000 dealerships as the startup integrates with RouteOne, the companies announced today.  Fair’s integration places the startup as a finance option on RouteOne’s platform alongside companies like Ally Financial, Chase Auto, Toyota Financial Services and 1,400 other lenders. Fair […]

• Nicole Casperson
• October 2, 2019
• Archives, Innovation & Technology, Sales & Marketing

AutoGravity increases lead generation, turns to AI

AutoGravity has expanded the number of avenues it uses to generate customer leads for auto dealers, Chuck Schofield, vice president of sales and dealer services, told Auto Finance News. AutoGravity’s platform allows consumers to perform inventory and financing research online before going to a dealership. With these new enhancements, dealer partners receive CRM notifications when […]

• Joey Pizzolato
• August 21, 2019
• Innovation & Technology, Sales & Marketing

Indiana CU rolls out e-contracting to increase marketshare

As credit unions are feeling the pressure of competition in auto finance, Forum Credit Union will adopt e-contracting for its 150 dealership partners by yearend to regain marketshare, Ben Wire, dealer division manager, told Auto Finance News.  The Fishers, Ind.-based credit union first piloted e-contracting with “a few” of its dealer partners last quarter, Wire said, […]

• Nicole Casperson
• August 20, 2019
• Exclusive, Innovation & Technology, Sales & Marketing

BREAKING: SNAAC to shut down this month

Security National Automotive Acceptance Co. (SNAAC) will stop purchasing auto contracts and liquidate its portfolio after 30 years in the business, Auto Finance News has learned. The lender will accept applications through Aug. 12 and purchase contracts through Aug. 19, the lender told AFN in an email. "The risk-adjusted returns in today’s market do not […]

• Nicole Casperson
• August 7, 2019
• Exclusive, Operations

Lease financier embarks on auto loan business

There’s a new auto finance company gearing up to enter the market. Dallas-based Musa Auto Finance, which specializes in new- and used-vehicle leasing, is taking the steps to become a full-spectrum auto lender, Founder and Chief Executive Jeff Morgan told Auto Finance News. Musa Auto Finance was created to fill a hole in the auto […]

• Joey Pizzolato
• August 1, 2019
• Innovation & Technology, Risk Management

Online Retail Platform Shift Adds Prime Options With TD Auto, U.S. Bank

TD Auto and U.S. Bank are the latest auto lenders to sign on with Shift Technologies, an online car retail and financing platform, Co-Chief Executive Officer Toby Russell told Auto Finance News. The newest additions enable San Francisco-based Shift to offer consumers financing options across the credit spectrum. "To be totally transparent, a lot of […]

• Bianca Chan
• June 14, 2019
• Innovation & Technology, Risk Management

Franchise Dealer Originations Inch Higher in Westlake’s Latest Securitization

The ratio of franchise dealer originations in Westlake Financial Services's securitizations is on an upward trajectory, according to a recent DBRS presale report.  In Westlake's most recent securitization, an $800 million transaction slated to close Feb. 20, franchise dealer originations account for 38% of the pool. By comparison, franchise originations hovered at 30% in the […]

• Bianca Chan
• February 7, 2019
• Capital Markets, Credit Performance