Credit Acceptance seeks to reassure investors with 8-K filing
Subprime auto lender Credit Acceptance Corp. is addressing questions from investors on the quality of its loans in an 8-K…
CFPB complaints dwindle in March (Under the Hood)
While consumers flooded the Consumer Financial Protection Bureau with complaints in January and February, grievances through mid-March have slowed to…
A ‘shame’: Powersports leaders weigh in on potential HDFS sale
The news that Harley-Davidson could be exploring a sale of its financing arm Harley-Davidson Financial Services is sparking concerns that…
Inside Carvana’s digital focus with VP of finance
Carvana is leaning on technology to address affordability concerns while preparing for growth. Tempe, Ariz.-based Carvana is consistently working…
Wells Fargo names Kevin Reen head of auto
Wells Fargo has named Kevin Reen its new head of auto following Tanya Sanders’ promotion into the role of chief…
Ford Credit EBT jumps 88%
Ford Credit’s earnings rose in the second quarter, but the captive’s penetration rate declined, and lease share shrank amid a…
Dip in auto ABS contributes to weakened industry health (Big Wheels)
A decrease in auto asset-backed securitization issuance and an increase in auto loan rejection rates contributed to a year-over-year decline…
Readers’ picks: Top 5 stories of 2024
Auto lenders have faced a year marked by affordability challenges, regulatory oversight and the need for innovation to be competitive….
Best practices to increase F&I product revenue
As vehicle prices and interest rates remain elevated, monthly payments continue to hover around all-time highs, making it more difficult…
PrimaLend’s bankruptcy renews focus on subprime consumer strain
PrimaLend Capital Partners filed for bankruptcy after months of negotiations with creditors following missed interest payments on its debt, the…
Honda-Nissan deal is credit positive, Honda faces risks: Moody’s
The proposed business integration of Honda Motor Co. and Nissan Motor Co. is positive overall for the credit quality of…
Flagship Credit sold to investment firm InterVest
Auto lender Flagship Credit Acceptance today announced an agreement to sell the business to specialty finance investment firm InterVest Capital Partners and will be…
Credit Unions: High LTVs a challenge for refinancing external auto loans
Higher loan-to-value ratios are exceeding thresholds for some credit unions, making it challenging to refinance auto loans from other lenders. …
High used-vehicle prices put continued pressure on LTVs
Elevated vehicle prices have continued to put pressure on used-vehicle loan-to-value ratios. LTVs for used vehicles remained high in the…
Octane inks ‘evergreen’ agreement with Georgia’s Own Credit Union
Georgia’s Own Credit Union and powersports lender Octane Lending on Jan. 28 announced a multiyear forward-flow agreement with hopes to…