Used-Car Values: How Lenders Manage Unexpected Appreciation

Roughly two years ago, the automotive market and the economy were heading for a peak year where lenders were aggressive, competition was stiff, and the economic environment was gaining strength. Since then, lenders have taken their foot off the gas, the economy has stabilized, and lenders have operated business as usual — while used-car values […]

Recreating Chrysler Capital

Nearly 10 years after Chrysler LLC came to the government seeking a $12.5 billion bailout in the midst of the financial crisis, and eight years after Cerberus Capital Management sold Chrysler Financial to TD Bank, the OEM may finally get back its captive finance arm, the company announced in late May. A lot has changed […]

Check Your Messages: How The TCPA Is Changing for Lenders

Calling on the phone is one of the simplest ways to reach people, but for lenders and other financial companies, it can be more confusing and complicated than one might expect. Collection departments that need to reach customers to discuss payment status or account issues are governed by the Telephone Consumer Protection Act. Following a […]

Western Funding Targets Faster Dealer Funding With New Tech, Guidelines

Western Funding Inc. looks to further improve the dealer funding process with clearer guidelines and the implementation of new technology solutions like e-contracting, the company’s new President Jim Murray told Auto Finance News. Western Funding will adopt e-contracting by yearend, following parent Westlake Financial Service’s rollout of the e-signature solution into all 50 states last […]

Will Credit Unions Push Into the Secondary Market?

When the National Credit Union Administration (NCUA) released a proposal in June 2017 to permit federal credit unions to securitize loans, the auto industry took notice. But no credit union has taken action. Yet. “My initial reaction to the rule is that it won’t have much reach to credit unions outside the largest credit unions,” […]

Subscribing to Change: How Startup Fair’s Ascent is Shedding Light on a Larger Leasing Trend

Uber Technologies Inc.’s leasing unit Xchange Leasing was losing $9,000 per car, despite rates of $500 per month, and was accused of targeting protected immigrant communities in New York City with predatory lending practices following an investigation by Quartz. So why did startup used-car leasing app Fair finalize a deal to buy Xchange last month? […]
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