Lenders Scout ‘Dealer-Centric’ Fintech Partners

Lenders will continue to seek fintech partners to increase production and facilitate new product opportunities in 2018, several executives told Auto Finance News, however, banks and credit unions in particular are scouting for “dealer-centric” or “hybrid” platforms. “If you look at technology, we are always looking for internal partners that can bring us better, faster, […]
  • Natalie Mattila
  • December 5, 2017

U.S. Bank Originations Climb 4.7% Amid Continued Focus on Prime

U.S. Bancorp grew its auto originations 4.7% year over year to $18 billion, driven by “high-quality originations in the indirect channel,” the company disclosed in its third-quarter earnings report. “We do have levers in the prime space and that continues to give us loan growth regardless of what’s going in the macro-economic environment,” Terry Dolan, U.S. […]
  • Natalie Mattila
  • October 18, 2017

U.S. Bank’s Lease Portfolio Jolts Up 35% in 2Q

U.S. Bank saw its auto lease outstandings grow by 34.8% in the second quarter compared to the same time a year prior, and has done so without expanding credit criteria, Terry Dolan, vice chairman and chief financial officer for the bank, said during its Wednesday earnings call. “In the auto segment, our well established market […]
  • William Hoffman
  • July 21, 2017

East Texas Dealer Eyes Lenders to Bulk Up Millennial Loan Approvals

Ross Motorsports is on the lookout for lender partners, particularly those with financing programs for millennial buyers, in an effort to boost approval rates, said newly promoted General Manager Ryan Williams. The Lufkin, Texas-based dealership sells Arctic Cat Inc., Yamaha Motor Corp., and American Honda Motor Co. brand vehicles. Ross Motorsports does business with seven […]
  • Natalie Mattila
  • March 7, 2017

U.S. Bank’s Auto Originations Top $17 Billion in 4Q

U.S. Bancorp grew its prime auto portfolio originations by 6.4% through 2016, the company disclosed in its fourth quarter earnings report. Through the quarter ending in December, the Minneapolis-based bank originated $17.6 billion auto loans up from $16.5 billion the year prior. The bank was not immune to the industry-wide trend of rising delinquencies. The […]
  • William Hoffman
  • January 18, 2017

Deutsche Bank Partners with Tesla

Tesla Motors Inc. has entered into a Loan and Security Agreement with Deutsche Bank AG, to support the Tesla Finance direct vehicle leasing program, according to an 8-K filed with the Securities and Exchange Committee last week. Under the agreement, Tesla may borrow up to $300 million, with the ability to draw scheduled to end on Aug. […]
  • Larissa Padden
  • September 8, 2016

Bank of the West’s Wible to Talk Trends on Summit Panel

Paul Wible, senior executive vice president of the national finance group at Bank of the West, has joined the Leadership Roundtable panel at the upcoming 2016 Auto Finance Summit. During the Oct. 6 session, Wible and his fellow panelists will discuss best practices in the face of rising competition in the industry. “We think our competitive advantage and […]
  • Larissa Padden
  • August 26, 2016

U.S. Bank’s Auto Originations Up, Despite Strategic Shift to Super-Prime

U.S. Bank’s auto loan originations are increasing, thanks to a strategic shift toward more prime and super-prime loans, said John Hyatt, executive vice president of dealer services. Hyatt joined U.S. Bank in April 2015 to lead its indirect lending group, which is when the company began its strategic shift. “Instead of focusing on adding more […]
  • Natalie Mattila
  • August 5, 2016

GMF to Focus Mobile Efforts Around Leasing [VIDEO]

Lease return numbers are going to be “ramping up” for General Motors Financial Co. in the future, so the captive is currently working on “tailoring” the lease experience to each customer through its consumer portal, GMF’s My Account, according to Will Stacy, senior vice president of digital at GM Financial. “By 2017 and 2018 they’ll […]
  • Larissa Padden
  • April 5, 2016

Tesla Scores ‘Free’ Financing for Model 3 Launch

Tesla Motors revealed its highly anticipated Model 3 electric car yesterday, with one primary goal: to bring the company’s electric vehicle technology to the masses. It also essentially scored $115 million of interest-free financing. That’s because each advance order required a $1,000 reservation charge, and within the first 24 hours yesterday, Tesla took in more […]
  • Natalie Mattila
  • April 1, 2016
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