Automotive Finance Archives

Waning customer interest in cars swells loan size, payments for trucks

Waning customer interest in cars swells loan size, payments for trucks

JOHN HUETTER – Automotive News Customers’ increasing preference for crossovers and SUVs means they’re making higher monthly payments and borrowing a few thousand dollars more to buy their vehicles, Experian said this month. Melinda Zabritski, Experian’s senior director of automotive financial...

August 24, 2021

DecisioningIT leader Hobbs recognized for financing platform

Automated Decisioning Automotive Finance Automotive Lending Car Dealerships Consumer Credit Credit Approvals Digital Retailing F&I Latest News

DecisioningIT leader Hobbs recognized for financing platform

Many consumers are locked out when it comes to being able to buy the vehicle they need. But thanks to a program developed by André-Martin Hobbs, they’re able to connect with dealerships to find the financing they need MONTREAL, Aug. 18,...

August 18, 2021

Carputty secures $7.2M in funding to ‘rewrite industry rules’ of auto financing

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Carputty secures $7.2M in funding to ‘rewrite industry rules’ of auto financing

ATLANTA – Source: AFJ. Startup Carputty wants to “rewrite industry rules” when it comes to auto financing. The firm now has more than $7 million in funding to get that process in motion. On Friday, Carputty announced it has raised $7.2 million...

August 12, 2021

F&I alert! Beware of fake tradelines on credit bureaus

Automotive Finance Automotive Lending Credit Approvals F&I

F&I alert! Beware of fake tradelines on credit bureaus

How fake tradelines are boosting credit of some borrowers SAN DIEGO (Frank McKenna, Auto Remarketing June 2021) — Credit repair is a worthwhile endeavor for many consumers. And thankfully, there are thousands of companies that are there to help them...

August 5, 2021

Santander taps AutoFi for new shopping, finance platform

Automotive Finance Digital Retailing

Santander taps AutoFi for new shopping, finance platform

Source: https://www.autonews.com/finance-insurance/santander-taps-autofi-new-shopping-finance-platform Santander Consumer USA, one of the nation’s largest subprime auto lenders, is launching a digital car-shopping and finance platform with AutoFi. The new tool will “streamline and enhance” dealership interactions with the auto finance company, Santander said Tuesday ahead of...

July 29, 2021

June Dealertrack Auto Credit Availability Index improves

Automotive Finance Automotive Lending Consumer Credit

June Dealertrack Auto Credit Availability Index improves

ATLANTA – (source) While consumer confidence might be mixed, Cox Automotive discovered more access to credit last month for potential vehicle buyers who needed it — especially if they had stronger credit backgrounds. According to the newest Dealertrack Auto Credit Availability Index...

July 15, 2021

CEO of DecisioningIT, Rosa Hoffmann, Shares How Dealers are Increasing Sales and Customer Satisfaction

Automated Decisioning Automotive Finance Automotive Lending Car Dealerships Digital Retailing F&I Latest News Non-Prime Financing Prequalification

CEO of DecisioningIT, Rosa Hoffmann, Shares How Dealers are Increasing Sales and Customer Satisfaction

by Sarah Marie June 28, 2021 in Business (New York Weekly) More non-prime consumers are getting behind the wheel now than ever before thanks to DecisioningIT. The fin-tech framework company uses an AI loan-matching platform that allows dealers to match...

June 29, 2021

What is driving the IPO rush in automotive technology? Which auto startup received $2.5B of additional funding?

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What is driving the IPO rush in automotive technology? Which auto startup received $2.5B of additional funding?

By Steve Greenfield, June 2021 (CBT News) – Wall Street’s record-breaking run for stock market flotations shows no signs of slowing down. With more than six months until the year ends, U.S. IPOs have already totaled $171 billion dollars, eclipsing...

June 21, 2021

Opinion: What do Curomax and DecisioningIT have in common?

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Opinion: What do Curomax and DecisioningIT have in common?

Curo-who you may ask? A coworker with lots of automotive financing experience, recently told me that if he could, he’d prefer Curomax over Dealertrack in a heartbeat. Apparently, they disrupted automotive financing 20 years ago. 20 years ago I though!...

June 2, 2021

Paul Barnes on JD Power’s 2021 Canada Dealer Financing Satisfaction Study

Automotive Finance Automotive Lending

Paul Barnes on JD Power’s 2021 Canada Dealer Financing Satisfaction Study

To see a non-prime lender like iA Auto Finance near the top of this chart is quite an achievement. In a space where difficult conversations with clients (dealers) are every day events, they’ve managed to maintain a very respectable public opinion. Congratulations...

May 18, 2021