Recreating Chrysler Capital

Nearly 10 years after Chrysler LLC came to the government seeking a $12.5 billion bailout in the midst of the financial crisis, and eight years after Cerberus Capital Management sold Chrysler Financial to TD Bank, the OEM may finally get back its captive finance arm, the company announced in late May. A lot has changed […]

Santander Grows Originations by 45% Amid Chrysler Capital Sales Negotiations

Santander Consumer USA drove origination growth by 45% in 2Q18, the company reported in its quarterly earnings call. Total auto originations were $7.9 billion compared to $5.5 billion at the same time the year prior. “We had a strong second quarter, with clear momentum in our business performance and continued regulatory progress,” Scott Powell, president […]

FCA Dealer Excited to Welcome a True FCA Captive

If Fiat Chrysler Automobiles is successful in its endeavors to form an internal captive arm, it would be a boon to the OEMs car sales, Dan Fields, president of Fields Automotive Group, told Auto Finance News. In late May, FCA announced its intentions to form a captive arm and possibly buy the Chrysler Capital portfolio […]

FCA Seeks to Jumpstart Operations With Purchase of Chrysler Capital

Fiat Chrysler Automobiles Group will likely move fast to acquire Santander Consumer USA’s Chrysler Capital portfolio because it will provide an instant revenue stream for the OEM and the ability to retain customer brand loyalty, said Jack Micenko, auto finance analyst at Susquehanna Financial Group. Micenko estimates the portfolio is worth a conservative $1.2 billion, […]

How Smaller Lenders Can Build Their Fraud Teams [VIDEO]

Small sized lenders may not have as many resources as bigger corporations to devote to a designated fraud department, but there are areas in which these lenders can maximize their fraud prevention. Zahid Kassem, senior vice president of fraud & dealer management at Santander Consumer USA, gave a presentation on fraud to attendees at the Auto […]

Lenders Tackling Rising Forms of Fraud in the Auto Industry

Different forms of fraud are rising in the auto industry and are presenting lenders with challenges as fraudsters continue to grow smarter, Frank McKenna, chief fraud strategist at artificial intelligence solutions provider PointPredictive, told Auto Finance News. Using machine learning, PointPredictive ran fraud models on funded originations from 2012 through 2018 and found that the underlying […]
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