Financiers may now electronically submit 2010 results for inclusion in Auto Finance Big Wheels, a ranking of the nation’s top car financiers, at www.BigWheelsDataQuery.com.
Auto Finance Big Wheels is the only collection of origination and portfolio metrics for the automotive lending and leasing industry. It offers a unique opportunity to include your company's performance among a ranking of the best of the best in…
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Consumer confidence has been one of the biggest obstacles to new-vehicle sales, and auto financiers have repeatedly cited improved consumer sentiments as a requirement for higher sales volume.
For February, consumer confidence climbed to its highest reading in three years: 70.4, according to The Conference Board. While still relatively low, the index surpassed its 64.8 reading in January and eclipsed a 46.0 reading in February 2010.
Though this recent consumer…
Added by Marcie Belles on February 23, 2011 at 4:17pm — No Comments
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The Auto Finance Risk Summit has augmented its speaker faculty with senior risk executives from Prestige Financial, Turner Acceptance, and Westlake Financial.
Marcus Tarbet, senior risk analyst at Prestige Financial Services Inc., and Andres Huertas, manager of direct and indirect merchant financing at Turner Acceptance Corp., will participate in a panel to hash out strategies for controlling growth in a newly competitive market. The group will present tactics for increasing…
Added by Marcie Belles on February 16, 2011 at 12:00pm — No Comments
Manheim’s Used Vehicle Value Index hit its highest level ever in January: 124.9.
Used-car values have exceeded 100 on the Manheim Index since the start of 2009, surpassing 120 six times last year.
Strong auction prices have lowered lenders’ loss severity and have enabled lessors to offer vehicles with higher residual values. The key, though, is trying to…
Valley National Bank is holding firm with underwriting guidelines, despite competitive pressure to loosen standards.
Since June 2008, Valley National’s portfolio has plunged 44% to $850.8 million as demand for new and used cars declined. Though car sales are slowly rebounding, competition is heating up quickly. Low-rate financing by other banks and captives has Wayne, N.J.-based Valley National on guard.
"We like the auto business," Valley National's CEO Gerald Lipkin…
Added by Marcie Belles on February 3, 2011 at 5:30am — No Comments