Articles

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Large Percentage of Customers Prefer to Complete Car Buying in a Dealership

Most consumers prefer to complete the majority of their car buying online, but a large percentage choose to finish the transaction inside the dealership, according to a new study from Cox Automotive. In Cox Automotive’s Future of Digital Retail study, the company found that 83% of consumers want to completeRead More

Premier Financial Services

Luxury Vehicle Lessor Finds Small Percent of Its Borrowers Go Full Term

Premier Financial Services — a finance company that specializes in leasing luxury, exotic vehicles to consumers — found that a “very small percentage” of its lessees go full term, Mitch Katz, the company’s chief executive and founder, told Auto Finance News. Consumers can sign up to lease an exotic vehicle throughRead More

Mick Mulvaney, acting director of the CFPB, photo by Gage Skidmore via Flickr.

3 Possible Resolutions CFPB’s Mulvaney Has for 2018

As I was thinking about the things I want to accomplish personally in the new year, I pondered what the Consumer Financial Protection Bureau’s Acting Director Mick Mulvaney might be thinking about for the direction of bureau’s activities in 2018. As such, I am suggesting three resolutions Mulvaney might considerRead More

Richard Cordray’s Legacy and the Future of the CFPB

Richard Cordray’s Legacy and the Future of the CFPB

Richard Cordray stepped down as head of the Consumer Financial Protection Bureau at the end of November, leaving behind a legacy of enforcement. I worked with Rich to establish the bureau, serving as a deputy enforcement director. In the summer of 2014, after four years at the bureau, I decidedRead More

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11 Executives Offer Predictions for 2018

From the expansion of mobility services to technology enhancements and continued depreciation of used-car values, a lot has been stirring in the auto finance space this year. And even more change is anticipated next year, according to some executives in the auto finance sector. Auto Finance News asked eleven executives,Read More

7 Auto Finance Innovation Ideas for 2018

7 Auto Finance Innovation Ideas for 2018

For the auto finance industry, the challenge is clear: a deluge of technology change is coming, and lenders need to take action to in order not to be shut out of the competition. Lenders, dealers and manufacturers need to think about mobile payment technology and how they plan to integrateRead More

Alternative Deal Structures Gain Ground [PODCAST]

Alternative Deal Structures Gain Ground [PODCAST]

Alternative deal structures — in which lenders can offer potential borrowers with multiple finance options in response to a single credit request — are becoming more prominent as borrowers continue to seek instant credit decisions, said Scott Hendriks, director of product management for auto originations at Fiserv. “There are manyRead More