Automotive Lending Archives

Lenders Need to Evolve as Auto Sales in Canada Move Online, J.D. Power Finds

After a full year of COVID-19 realities, auto dealerships and auto sales in Canada continue a rapid transformation toward online interactions and transactions. According to the J.D. Power 2021 Canada Dealer Financing Satisfaction Study,SM released today, 49% of Canadian dealerships saw...

October 5, 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

TrueCar unveils pre-qualification solution powered by Capital One

Automotive Lending Digital Retailing F&I

TrueCar unveils pre-qualification solution powered by Capital One

TrueCar is trying to improve the financing process for dealerships and vehicle shoppers that might engage with its website. On Friday, TrueCar announced a new experience powered by Capital One that allows eligible shoppers to pre-qualify for auto financing through...

September 27, 2021

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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

Some banks loosened standards on auto loans in Q2

Automotive Lending Consumer Credit

Some banks loosened standards on auto loans in Q2

By Automotive News – JOHN HUETTER Most bankers said they hadn’t changed their practices. But a few lenders reported easing maturity maximums and lowering minimum down payments. A moderately larger share of banks surveyed this summer said they eased standards...

September 15, 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

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

Automotive Finance Automotive Lending Digital Retailing

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

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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