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EXCLUSIVE: Ford Credit sells Canvas portfolio to Fair 

Used-car leasing app Fair has finalized a deal to acquire the assets of Ford Motor Credit’s subscription service Canvas, the company announced today. The Canvas acquisition increases Fair's fleet by 1,000 for active consumer subscribers and 600 that can be used for rideshare or consumer demand — adding to the 45,000 active users Fair currently […]

Citizens One ramps up CPO program

Citizens One Auto Finance has been revving up used-vehicle loan originations since launching its CPO program “a little over a year ago,” President Craig Lamp told Auto Finance News. Volume for the bank’s CPO program has “more than doubled,” Lamp said, adding that the program has exceeded company expectations. To that end, “a big chunk […]

2019 Model Incentives Rise to Beat Used-Vehicle Demand

As the auto industry transitions to 2019 models, used-vehicle inventory is incentivized to make way for new stock. But used-vehicle demand could outpace available inventory, Jonathan Banks, vice president of vehicle valuations and analytics at J.D. Power, told Auto Finance News. The goal is to have a “smooth transition” into the new year where the […]