New-vehicle lease share passes 25%
More consumers opted for leasing in the second quarter, driven in part by elevated levels of new-vehicle inventory, rising manufacturer…
Tricolor Auto Acceptance files for Chapter 7 bankruptcy
Tricolor Auto Acceptance filed for bankruptcy today following reports that the subprime auto lender had closed locations and was preparing…
Tricolor projects originations at $1.3B
Tricolor Auto Acceptance projects origination volume to surpass $1 billion in 2024 as the company expands geographically and seeks additional…
The Hidden Bottlenecks in Dealership Financing—And How to Fix Them Fast
Efficiency is everything, especially in auto sales. A smooth financing process improves customer satisfaction and drives profitability for dealerships: More…
Winning with digital partners: A guide for auto lenders
As auto finance continues to evolve, lenders are increasingly evaluating digital solutions powered by AI to streamline operations, improve compliance…
SCUSA eyes more OEM, large dealer relationships
NASHVILLE, Tenn. — Santander Consumer USA is working to grow its third-party financing relationships with large, franchised dealers and manufacturers. …
Rate cuts, EV adoption and tech spark optimism for 2025
Auto lenders are keeping an eye on affordability, EV adoption and technological advancement heading into 2025. A key challenge…
First Northern Credit Union improves lending experience with AI
First Northern Credit Union is implementing AI-driven financial calculators this month to improve the lending experience. The $336 million, Chicago-based credit…
Lucid sees 33% revenue jump, Saudi investment of $1.5B
EV maker Lucid Motors reported revenue growth in the second quarter and announced a $1.5 billion investment from an affiliate…
BRP powersports sales down 5%
Canadian powersports manufacturer Bombardier Recreational Products’ North American retail sales declined year over year in the first quarter as tight…
Powersports values fall in February, bucking seasonal trends
Motorcycle and powersports values fell across nearly every segment in February as dealers were flush with new inventory, trending outside…
Podcast: Ally, Chase, Wells see auto origination growth in Q2
Ally Financial, Chase Auto and Wells Fargo Auto all reported an increase in auto originations in the second quarter, driven…
Fed’s favored price gauge slows, supporting case for rate cut
The Federal Reserve’s preferred measure of underlying US inflation decelerated in May, bolstering the case for lower interest rates later…
Agora Data CEO projects more than $500M in originations
Agora Data plans to grow its origination volume by tapping into opportunities in the “buy here, pay here” space as…
US CPI revisions confirm inflation progress at end of 2023
US inflation was about the same at the end of last year as initially reported after incorporating annual revisions, according…