Hertz bankruptcy risk could flood used market
All of Hertz’s $6.04 billion outstanding asset-backed lease securitizations were downgraded by Fitch Ratings today, further spurring concerns that the ...
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SoftBank-backed Fair taps new CEO
Leasing app Fair is starting fresh with a new chief executive roughly six months after lead investor SoftBank forced the ...
Carvana tightens credit as wholesale profits drop 60%
Carvana has pumped the brakes on its stand-alone consumer vehicle purchase program and tightened credit standards for originations, Chief Executive ...
DOT needs to start another ‘cash for clunkers’ program
At the height of the credit crisis, the federal government introduced a program to save the auto industry. The program ...
Leveraging Liquidity: Lenders brace for the coronavirus recession [Feature]
Auto financiers are bracing for the rocky road ahead as vehicle sales plummet, consumer demand tanks and expected credit losses ...
Weekly Wrap: COVID-19 economy puts pressure on residual values [Video]
The coronavirus economy and weaker consumer demand have created substantial risk for used vehicles as large volumes of leased vehicles ...
Westlake enters commercial vehicle financing
Westlake Financial Services has begun financing commercial vehicles in eight U.S. markets, the company announced yesterday. The Los Angeles-based lender ...
Ford Credit ABS increases excess spread to pad losses
Ford Motor Credit increased its excess spread by 42 basis points in its latest asset-backed securitization issued this week, according ...
