Capital constraints prompt mixed origination outlook
TD Auto Finance and Avid Acceptance expect auto origination volume to be flat to moderately lower for the remainder of…
JPMorgan lets rich European clients borrow against luxury cars
JPMorgan Chase & Co. is expanding its lending services to the wealthy by allowing them to borrow against their classic…
New EV inventory, used values drop after tax credit expiration
New EV inventory is plummeting industrywide as auto manufacturers curb production and demand wanes following the elimination of the federal…
Podcast: ‘Weekly Wrap’ on loan production, inflationary pressures
The auto finance industry is showing slight improvements in affordability and loan production while worsening credit performance and inflationary pressures…
GM Financial consumer originations fall 3% YoY
GM Financial’s penetration rates and credit performance improved in the first quarter while lease and loan activity held steady. Lease…
Blowout jobs data raise chance of delayed, fewer Fed rate cuts
The biggest US jobs gain in nearly a year boosts the chances Federal Reserve officials will further delay cutting interest…
US payrolls and wages surge, likely keeping Fed rates on hold
US employers added the most workers in a year and wages jumped in a surprise reacceleration in the labor market…
American Honda Finance projects 30% lease penetration in 2025
American Honda Finance Corp. is looking to maintain a lease penetration of close to 30% through 2025, outpacing the forecasted…
CPS originations dip 16%, collections improve
Consumer Portfolio Services’ originations declined year over year, but the subprime lender’s portfolio grew as it secured additional capital and…
CAF looks to increase penetration in nonprime
CarMax Auto Finance plans to increase its penetration rate in lower credit tiers after affordability challenges continued to hamper sales…
Prestige Financial Services reportedly lays off some staff
Lender Prestige Financial Services reportedly laid off several employees in early November, according to posts from former employees. The Draper,…
Fifth Third intentionally pulls back on auto
Fifth Third purposely slowed auto lending in the fourth quarter driven by elevated interest rates. The bank’s indirect secured consumer…
Wall Street trustees said to shun Tricolor job
Some of Wall Street’s most notable corporate trust providers are reportedly turning down offers to take over for Wilmington Trust…
Inside Pagaya’s 5th ABS deal of year worth $400M
Pagaya Technologies issued its fifth asset-backed securitization deal of the year, a subprime transaction, even as investor confidence in those…
Five questions with … NextGear Capital’s VP of portfolio management
Nicole Graham-Ponce, vice president of portfolio management at NextGear Capital, has spent much of her life around cars and has…