Automotive Finance Archives

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

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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

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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

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

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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

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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