Toyota Financial enters private-label financing, scores Mazda

Toyota Financial Services (TFS) is establishing itself as a provider of third-party financial services on the heels of a newly inked deal with Mazda Motor of America. Mazda’s consumer loan and lease financing will make the switch to TFS on April 1, 2020, TFS spokesman Vince Bray told Auto Finance News in an email. The […]

• Nicole Casperson
• August 29, 2019
• Operations, Sales & Marketing

Citizens One, VW Credit top dealer satisfaction survey

As vehicle sales slow and consumers look to secure financing outside the dealership, lenders’ credit analysts and sales reps are becoming critical elements in a smooth auto finance operation. That’s what the latest J.D. Power 2019 U.S. Dealer Financing Satisfaction Study found based on results from 16,800 retail credit and 2,100 floorplan provider evaluations from […]

• Bianca Chan
• August 15, 2019
• Customer Experience

Goodbye dealership, hello digital: Why I sold my car online

From the August issue: When I first bought my 2014 Honda Civic two years ago in Dallas, I never thought I would sell it before I paid off my auto loan. My first, and only other, car was a 1996 Ford Mustang that I paid for in cash and subsequently drove into the ground. Life […]

• Joey Pizzolato
• August 12, 2019
• Customer Experience, Features, Innovation & Technology, Risk Management

5 Trends to Watch: 2019 Promises to be an Interesting Year

From the January issue: The pace of U.S. growth is expected to slow, according to most economists, who also think interest rates will rise. There is uncertainty about tariffs and, beyond the economic factors, the race between different lenders, dealers, and manufacturers to overhaul products and services is picking up. But perhaps the biggest challenge […]

• Bianca Chan
• January 17, 2019
• Capital Markets, Features, Risk Management, Sales & Marketing

2019 Survival Guide: How Lenders Are Planning for the Year Ahead

From the January issue: 2018 was a strong year for auto finance as delinquency rates dropped, the economy grew, and consumer demand remained high. However, the new year finds lenders and analysts bracing for an economic slowdown. But that’s not the only worry. New-car purchases are lagging, according to Manheim’s November data, which has new-vehicle sales […]

• Nicole Casperson
• January 4, 2019
• Archives, Compliance & Regulation, Credit Performance, Features, Innovation & Technology, Risk Management

5 of the More Interesting Corporate Moves of 2018

2018 will be remembered as a profitable year for the auto industry. Healthy December sales, as forecast by Cox Automotive, will drive U.S. auto sales above 17 million for the year. But car companies weren’t resting on their laurels. Many players in the auto space were positioning themselves for the future. What follows are five […]

• Bianca Chan
• December 27, 2018
• Innovation & Technology, Risk Management

BMO Harris Auto Chief Outlines Growth for AutoGravity Partnership

BMO Harris Bank is accepting online auto loan applications in California thanks to a newly inked partnership with AutoGravity, with plans to expand its online business eastward in 2019. “Primarily [the loan applications are] just from the West Coast now, and we anticipate that as the relationship [with AutoGravity] grows, we’ll see a movement more […]

• Bianca Chan
• December 7, 2018
• Innovation & Technology, Sales & Marketing

TD Auto Aims to Resolve Customer Payments in Wake of Dealership Chain’s Bankruptcy

TD Auto Finance has worked up a plan to help borrowers negatively affected by the Reagor Dykes Auto Group bankruptcy case, according to court documents filed earlier this month. Consumers who obtained vehicles through the Lubbock, Texas-based dealership chain, which filed for Chapter 11 bankruptcy protection in August, were unable to properly register their new […]

• Nicole Casperson
• November 12, 2018
• Compliance & Regulation, Risk Management