Automotive Finance Archives

Consider credit ‘soft pulls’ at start of sales process

Consider credit ‘soft pulls’ at start of sales process

JOHN HUETTER – Reporter covering the finance-and-insurance business and auto retailing for Automotive News Performing a soft pull on a customer’s credit at the start of the buying process can improve sales and reduce awkward conversations in the F&I office, according...

October 21, 2021

Maintenance contracts a ‘magic bullet’ for F&I

Automotive Finance

Maintenance contracts a ‘magic bullet’ for F&I

The low-margin preventive maintenance contract is “your most underutilized product in F&I,” according to Dan Mason of Principal Warranty JOHN HUETTER – Reporter covering the finance-and-insurance business and auto retailing for Automotive News That low-margin preventive maintenance contract on a menu...

October 17, 2021

Automotive Finance

GM to launch Cadillac Financial in 2022

Cadillac Financial will include a concierge service, a new website and Cadillac-certified customer experience teams. DETROIT — General Motors next year plans to launch a Cadillac-badged financing brand for luxury customers and dealers, according to an internal memo obtained by Automotive...

October 15, 2021

Creating a superior experience through customized financing technology

Automotive Finance

Creating a superior experience through customized financing technology

BURNABY, British Columbia – (AutoRemarketing) Just like customers test-drive numerous cars before finding the best deal for the perfect make, model, features, and color, automotive dealers need to be discerning about their technology partners. The loan origination process is a perfect example....

October 13, 2021

Tuning your subprime tactics for success

Automotive Finance Car Dealerships F&I Non-Prime Financing

Tuning your subprime tactics for success

Posted by Carina Ockedahl (Canadian Auto Dealer) Dealers have made incredible progress on the near- and subprime front, arming themselves with a network of lenders and creating options for their customers. But there is still room for improvement, regardless if the...

October 6, 2021

3 Reasons Why Auto Dealers Will Need a Lending Solution Refresh in 2022

Automated Decisioning Automotive Finance Automotive Lending Car Dealerships Consumer Credit Credit Approvals Digital Retailing F&I Non-Prime Financing Prequalification

3 Reasons Why Auto Dealers Will Need a Lending Solution Refresh in 2022

VANCOUVER, BC / ACCESSWIRE / September 27, 2021 / Our world has been turned upside down in the past 18 months. As the pandemic swept around the globe it touched every single industry in some way. With quarantines, shutdowns, and lockdowns,...

September 29, 2021

Automotive Finance Automotive Lending Latest News

Reviving From the Pandemic

Key learnings from Equifax’s Q2 2021 Credit trends and economic insights. Equifax recently posted their Q2 credit trends and their introduction went as follows: “Mortgage volumes are the highest they’ve ever been in a single quarter. Non-mortgage credit demand is...

September 20, 2021

Mixed trends within Cox Automotive’s financing indexes for August

Automotive Finance Automotive Lending Consumer Credit

Mixed trends within Cox Automotive’s financing indexes for August

ATLANTA – Cox Automotive’s newest updates of indexes that track auto financing showed mixed developments with regard to dealerships being able to get their potential buyers financed and providers’ appetite to build portfolios. First, according to the Dealertrack Auto Credit Availability Index,...

September 16, 2021

Retrospective: Top 25 finance companies findings from 2020

Automotive Finance Automotive Lending Latest News

Retrospective: Top 25 finance companies findings from 2020

SCHAUMBURG, Ill. (Subprime Auto Finance New) — The auto-finance industry’s appetite for the highest-risk paper declined in 2020. According to Experian’s Q4 2020 State of the Automotive Finance Market report, analysts discovered deep subprime originations of all contracts booked in...

August 31, 2021

Reynolds partners with DealerCorp to deploy deskit & stockit

Automotive Finance Digital Retailing F&I

Reynolds partners with DealerCorp to deploy deskit & stockit

DAYTON, Ohio – AutoRemarketing A dealership software company with a significant presence in the United States is looking to broaden its footprint to the North. Reynolds and Reynolds recently announced a new partnership in Canada with DealerCorp Solutions, a software company with...

August 28, 2021