Toyota Financial Services to Offer Rideshare Rental Program

Toyota Financial Services has solicited the white-label mobility service provider Launch Mobility, to jointly create a new short-term rental program for rideshare drivers, the companies announced today. The unnamed service will use off-lease vehicles in the program and is expected to begin as a pilot in Southern California by yearend. While there is no target number of vehicles […]
  • Emma Sandler
  • November 15, 2017

How Captives Are Reacting to 6 Industry Trends

Captive financial companies are often at the forefront of technology as they are able to tap the manufacturer’s offers to deliver sales, and this year has been no exception. Buzz around autonomous cars has pushed captives to think more about mobility services, slowing sales have inspired companies to invest in alternative credit scoring models, and […]
  • William Hoffman
  • November 3, 2017

DBRS Highlights New Asset-Level Data in Auto ABS Transactions

Independent rating agency DBRS detailed an in-depth look at new asset-level data provided within its database of publicly issued auto ABS transactions — and the risks associated with these pools — in a report released this month. Starting in November 2016, lenders issuing public auto ABS transactions were required to disclose loan-level data about the […]
  • William Hoffman
  • October 18, 2017

Toyota Financial Services U.K. Teams Up With Alternative Credit Scoring Startup

Aire, an alternative credit scoring startup, raised a $5 million Series A funding round and announced a partnership with the U.K. arm of Toyota Financial Services yesterday. The round was led by Sunstone Capital along with White Star Capital. Aire’s funding now totals $12 million. Along with a partnership with Toyota, Aire is also working […]
  • Emma Sandler
  • September 15, 2017

Auto Lenders Provide Relief Amid Hurricane Harvey Devastation

The full economic impact of Hurricane Harvey on the auto industry has yet to be determined, but in the short term it’s clear that many consumers are going to need financial assistance and a number of lenders have stepped up to provide donations and consumer relief. Cox Automotive estimates between 300,000 and 500,000 vehicles could […]
  • William Hoffman
  • September 6, 2017

Negative Equity Poses Threat to Lenders in Wake of Hurricane Harvey

More than half a million vehicles in the Houston area are estimated to be a total loss following the flooding damage caused by Hurricane Harvey, and more of those consumers than ever are upside down on their loans, according to Edmunds.com Inc. Comprehensive auto insurance is the main policy protecting borrowers from this kind of […]
  • William Hoffman
  • September 4, 2017

Reinventing the Aftermarket: Will All-Inclusive Subscription Services Be the Next Big Thing?

While “all-inclusive” is a pretty well-known concept in the resort world — many vacation spots boast carefree, wallet-less getaways, where everything is included in one price — the term is almost foreign in auto finance. But that is poised to change, as several lenders adapt the “all-inclusive” concept into their business models, with an aim […]
  • Natalie Mattila
  • September 1, 2017

Toyota Financial Collaborates With Ride-Hail Service Grab

Toyota Financial Services — along with Toyota Motor Corp. and Aioi Nissay Dowa Insurance Co. — are forming a collaboration with Southeast Asia ride-hailing giant, Grab, the companies announced today. The collaboration involves the Connected Company, a Toyota Motor in-house company, that has developed a data-transmission device that captures driving patterns and deliver telematics services like […]
  • Emma Sandler
  • August 30, 2017

Fed Numbers Place Ally as No. 1 Lender Amid Wells Fargo’s Pullback

For three and half years Wells Fargo Dealer Services has been the No. 1 provider of retail loans, but now that title belongs to Ally Financial Inc., according to data from the Federal Reserve. Wells Fargo held about $58 billion of outstanding retail auto loans at the end of June, compared with $59.8 billion at […]
  • William Hoffman
  • August 24, 2017

What Gets Measured Gets Done: Establishing Key Risk Indicators to Measure Compliance Health

When we visit a doctor, we learn much about our health risk based on various measurements. Doctors check our blood pressure, heart rate, and cholesterol levels, and then compare them to medically determined acceptable rates. If our results are higher than the acceptable rates, doctors will advise us how to manage those rates downward to […]
  • Linda Iannone
  • August 7, 2017
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