Automotive Lending Archives

June Dealertrack Auto Credit Availability Index improves

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

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

Auto Industry Message To New-Car Shoppers With Subprime Credit: Forget It

Automotive Finance Automotive Lending Consumer Credit Non-Prime Financing

Auto Industry Message To New-Car Shoppers With Subprime Credit: Forget It

Article from Jim Henry below. I don’t have the same opinion. Multiple OEMs already offer subvented rates to shoppers with subprime credit. I’ve been working on non-prime financing for over a decade now and there are multiple options for this...

February 28, 2021

Cox Automotive predicts ‘significant’ climb in repo volume

Automotive Finance Automotive Lending Latest News Repossessions

Cox Automotive predicts ‘significant’ climb in repo volume

ATLANTA – Cox Automotive estimates that repossession volume will make a “significant” rise in 2021 compared to last year. According to data shared during Friday’s Cox Automotive Industry Insights 2021 presentation, repossession volume in 2020 softened to the lowest level in five...

January 15, 2021

Automotive Finance Automotive Lending Car Dealerships Latest News Non-Prime Financing

Axis’ senior credit facility rises to $100M

Congrats to Axis Auto Finance (Todd Hudson – Ilja Troitschanski) for their expansion of their funding capacity to $100 million! A $20 million boost I believe.Well done, keep it up! I guess Lucy (www.decisioning.it) will be pre-approving more consumers on dealers behalf 🙂 Press...

January 12, 2021

F&I best practices: Understanding 4 parts of the ‘new customer journey’

Automated Decisioning Automotive Finance Automotive Lending Car Dealerships Consumer Credit Credit Approvals Latest News Non-Prime Financing

F&I best practices: Understanding 4 parts of the ‘new customer journey’

WILKES-BARRE, Pa. – GWC Warranty recently posted an article online where they recently broke down the four components of what it called the “new customer journey.” GWC Warranty went so far as to say in a blog post that, “the days of...

January 4, 2021

Fairstone Financial on selling to non-prime customers can boost dealerships’ bottom line

Automated Decisioning Automotive Finance Automotive Lending Car Dealerships Consumer Credit Credit Approvals Latest News Non-Prime Financing

Fairstone Financial on selling to non-prime customers can boost dealerships’ bottom line

The traditional divide between prime and non-prime car buyers, and the dealerships that sell to them, is fading. Today, almost 30% of customers do not qualify for traditional bank or OEM financing1. This niche of non-prime buyers has been called...

January 2, 2021

Guide to tracking today’s virtual auto lending trends into 2021

Automated Decisioning Automotive Finance Automotive Lending Car Dealerships Consumer Credit Credit Approvals Latest News Non-Prime Financing

Guide to tracking today’s virtual auto lending trends into 2021

With 76% of consumers open to the idea of buying a vehicle 100% online, it is no surprise that lenders (and car manufacturers, dealers) will need to continue to position themselves to support digital transactions without letting compliance fall by...

January 1, 2021