Subprime auto lender collapse delivers blow to risky debt market
The sudden collapse of a Texas subprime car lender is sending shock waves from border-town dealerships all the way to…
Banks, captives anticipate EV pull-ahead into Q3 amid credit expiration
Bank of America is among the auto financiers expecting a strong third quarter for EV sales as consumers pull their…
Document intelligence for auto finance, dealerships, better CX
Is your finance department bogged down by paper documents and manual data entry? Are you struggling with slow financing approvals…
Commercial filings shed light on Tricolor’s inner workings
Tricolor, which declared Chapter 7 bankruptcy last week, worked with a network of companies that could feel the fallout of…
SAFCO CEO: Tricolor was undone by its own deception
SAFCO CEO George Fussell Calling Tricolor a “canary in the coal mine” is misleading. The reality is that the canary…
Santander Consumer Bank supports 1.99% APR under new KTM agreement
Motorcycle manufacturer KTM is offering financing with as low as 1.99% APR on units sold in Canada thanks to an…
America’s Car-Mart completes LOS rollout
Buy here, pay here car dealer and financier America’s Car-Mart completed the rollout of its loan origination system in the…
Lithia Motors’ captive sees originations up 16.8% YoY
Driveway Finance Corp., Lithia Motors’ finance arm, grew originations 16.8% year over year in the fourth quarter. Driveway Finance Corp.’s…
Auto lenders bullish on EVs amid tax bill cut
Auto lenders expect EV adoption to slow on the heels of the expected elimination of the federal EV tax credit…
Automakers push yearend APR, cash deals
Incentives increased in the fourth quarter, driven by normalizing supply levels and intensifying competition. Toyota is offering a 4.99% annual…
Pagaya eyes personal, auto loans with OneMain Financial
AI-based financier Pagaya Technologies plans to expand its new relationship with subprime auto lender OneMain Financial to an enterprise agreement…
Retailers’ margins hurt by Stellantis’ supply challenges
Auto retailers reported weaker margins for sales of Stellantis brands in the third quarter as supply challenges persisted. Asbury Automotive’s…
Losses rise across prime, nonprime securitized loans
Credit performance across securitized prime and nonprime auto loans weakened at the end of 2024 as loans originated in 2022…
EBay acquires digital auto startup Caramel
E-commerce giant eBay has acquired online automotive transaction solution provider Caramel to enhance the vehicle-buying customer experience on its platform. …
Driving innovation: Top 5 tech stories of 2024
The automotive industry focused on advancing technology and leaned on artificial intelligence and machine learning to enhance innovation and efficiency…