Chase Auto, USAA, Bank of America on Direct Lending and Improving Dealer Relations [VIDEO]

Direct lenders are coming up with innovative strategies to provide customers with a better experience while maintaining a stronger working relationship with dealers. Lenders from well-established auto financing institutions participated in a panel discussion at the 18th Annual Auto Finance Summit to discuss those issues, as well as how to keep their customers from being “flipped.” “The potential of […]

KAR Auction Bolsters Tech Offerings With Acquisition of Clearplan

KAR Auction Services is tapping into technology to better its operations with its acquisition this week of Clearplan. Clearplan, a Reno, Nev.-based company that offers a digital hub for repossession workflow management, logistics, and reporting. The digital platform connects thousands of recovery agents and lenders while enabling real-time communication to more efficiently list, log, and […]

From Profitability to Viability, Execs Weigh In on Subscription Services [VIDEO]

OEMs are still trying to crack the code of profitability and consumer interest in subscription services. Leading providers in the space weighed in on this relatively new method of car utilization, in a session at the 18th Annual Auto Finance Summit. Mason McLead, vice president of engineering at car-as-a-service company Fair, defined a subscription as […]

Lincoln Financial, MBFS Top Consumer Satisfaction Survey

Lincoln Automotive Financial Services and Mercedes-Benz Financial Service tied for first place in J.D. Power’s luxury brand customer satisfaction index ranking, published this week. Consumer satisfaction was gauged in five areas: billing and payment processing; mobile app experience; onboarding; origination; and website experience. On a 1,000-point scale, both companies scored 877. This year’s study found that consumers are making […]

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 […]

Tricolor Auto Preps First Rated Securitization

Buy-here, pay-here lender Tricolor Auto Acceptance LLC is preparing to issue its first rated securitization, a $101.7 million transaction slated to close Nov. 21, according to a Kroll Bond Rating Agency presale report released this week. The securitization is backed by loans with a weighted average Fico score of 583 and a weighted loan-to-value ratio […]

Mountain America CU Eyes Fintech Partners in 2019

Mountain America Credit Union is scouting fintech partners to provide self-service options, plus mobile and online capabilities to its auto finance customers. “We’re looking at partnership models with fintechs, that’s our biggest focus over the next six to 18 months,” said Jade Beckman, vice president of consumer lending at the West Jordan, Utah-based credit union, […]
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