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WEB6 days ago · Auto Finance News provides the latest updates and insights on the auto finance industry, including fraud cases, financing trends, and program developments.
Navy Federal Credit Union launches online car-buying platform …
WEBMar 12, 2021 · 0. Navy Federal Credit Union is expanding on its digital car-buying capabilities with a new online purchasing platform powered by the online new- and used-car marketplace TrueCar. Navy Federal, like many auto lenders, is looking for ways to streamline car buying and financing online amid a shift in consumer preferences, Joe Pendergast, vice ...
5 questions with … Tenet CEO Alex Liegl on EV financing
WEBJan 2, 2024 · Alex Liegl co-founded EV finance company Tenet in 2021 with the goal of combining financial technology and renewable energy to build a more sustainable energy network while enabling consumer accessibility to electric vehicles.. Alex Liegl, CEO, Tenet. Liegl is driven in his mission by an entrepreneurial nature and a desire to create a positive impact in the renewable energy space, he told Auto ...
Santander acquires Gateway One $1B portfolio - Auto Finance News
WEBDec 19, 2019 · Santander Consumer USA is bolstering its servicing business via a newly inked acquisition of Gateway One Lending & Finance‘s $1.1 billion indirect auto loan portfolio, the companies announced on Wednesday. The acquisition includes an additional $500 million of indirect auto loan assets that SCUSA will service on behalf of TCF National Bank, the parent of […]
Ford Credit Launches Lincoln Automotive Financial Services
WEBFord Motor Credit Co. has announced the launch of Lincoln Automotive Financial Services to provide a customized customer experience for the luxury brand. The new finance company will provide financing to consumers who own or plan to purchase Lincoln models. Customers who currently use Ford Motor Credit to finance their Lincolns were transferred automatically to […]
Global Lending Services expands digital footprint
WEBAug 31, 2020 · Global Lending Services has expanded its digital footprint amid the coronavirus pandemic with a fresh partnership with online retailer CarGurus, allowing consumers to secure preapprovals online before visiting a dealership, Chief Executive Steve Thibodeau told Auto Finance News. “We want to provide customers the convenience to prequalify for their loan from the comfort of their […]
Rifco National Auto Finance officers eye acquisition of the company
WEBAug 16, 2021 · Members of the executive leadership team at Canadian subprime auto lender Rifco National Auto Finance are seeking to take the company private with an all-cash deal valued at roughly $25 million. A non-binding agreement was submitted to the lender last week by Warren Van Orman, Rifco’s chief financial officer; Doug Decksheimer, chief marketing officer; and
An inside look at Mazda Financial Services - Auto Finance News
WEBJan 17, 2020 · TFS — which boasts a $92 billion portfolio, according to Big Wheels data — had announced in August 2019 that it would serve as Mazda’s private-label finance provider, taking over for Chase Auto, which has served as Mazda’s financial arm under Mazda Capital Services since 2010. When the nation’s largest auto financier entered third ...
Stellantis Financial debuts inaugural securitization
WEBMar 17, 2022 · The $311.6M deal was backed by subprime auto receivables. First Investors Financial Services made its debut in the securitization market this month as Stellantis Financial Services (SFS), the captive for the eponymous carmaker formed by the merger of Chrysler Automobiles and Groupe PSA. Stellantis …
Credit tightening contributes to subprime market shrink
WEBFeb 29, 2024 · Subprime market share continued to decline across total new- and used-auto loans in the fourth quarter as subprime lenders have tightened credit boxes to manage risk. While subprime borrowers are still seeking auto financing, lenders have tightened underwriting standards amid high interest rates, elevated vehicle prices and other inflationary pressures. This has translated into weaker […]