Articles by: Larissa Padden

WEBINAR: The Key to Marketplace Lending is the Digital Platform

WEBINAR: The Key to Marketplace Lending is the Digital Platform

IT, Operations June 13, 2016 at 12:30 pm

The opportunities that exist in marketplace lending can be credited to the digital platforms that these lenders utilize, rather than the product they are delivering, Robert Shaw, director at PwC, said during a recent webinar, hosted by the Center for Auto Finance Excellence. “If you look at marketplace lenders itRead More

WEBINAR: Embrace Technology to Engage Consumers

WEBINAR: Embrace Technology to Engage Consumers

Best Practices, IT, Operations March 15, 2016 at 9:59 am

Smartphones are “the future” when it comes to customer engagement, Joel Kennedy, co-founder and chief compliance officer at Pelican Auto Finance, said during a recent webinar, hosted by the Center for Auto Finance Excellence. “I might be stating the obvious here but: I can call you, I can text you,Read More

GM: Incentivize Good Behavior by Making it Fun

GM: Incentivize Good Behavior by Making it Fun

Operations February 26, 2016 at 3:45 pm

There is a lot to learn from the Gaming community, and it’s not necessarily its technology. “One of the things we’ve been talking about is gamification, convincing our consumers that certain behaviors, and doing certain things, is a good idea,” said Frankie James, managing director of the General Motors AdvancedRead More

Underbanked Are Not Always Subprime, FactorTrust CEO Says [VIDEO]

Underbanked Are Not Always Subprime, FactorTrust CEO Says [VIDEO]

Operations, Risk December 3, 2015 at 9:08 am

An underbanked consumer is not necessarily a subprime consumer, according to FactorTrust Chief Executive Greg Rable. “Ultimately, with the underbanked, the differences would be these consumers will have a bank account, they’ll have a job, and they usually just lacked traditional credit options,” Rable told Auto Finance News. In manyRead More

Lenders Beware of ‘Scary Deals,’ Western Funding President Warns

Lenders Beware of ‘Scary Deals,’ Western Funding President Warns

Management, Operations, Risk November 4, 2015 at 4:15 pm

If the auto finance industry continues to see deteriorating conditions like rising LTVs and lengthening loan terms, things could be headed for trouble, Guerin Senter, President of Western Funding said at the Auto Finance Summit 2015 last month. “I think if the industry continues down the current trend, with theseRead More

Auto Industry Could ‘Get Scary’ if Coming Off-Lease Supply Isn’t Managed

Auto Industry Could ‘Get Scary’ if Coming Off-Lease Supply Isn’t Managed

Risk, Sales & Marketing October 28, 2015 at 4:29 pm

The party can’t last forever, Joseph Derkos, director, consulting & analytics, Power Information Network (PIN) said at the Standard & Poor’s Auto Industry Hot Topics conference earlier this month. Derkos was referring to the continued growth and recovery the auto industry has experienced since the recession. The seasonally adjusted annualRead More

‘Drive the Innovation, or be Driven Out,’ Exeter CEO Tells AFS Attendees

‘Drive the Innovation, or be Driven Out,’ Exeter CEO Tells AFS Attendees

Best Practices, Management, Operations October 23, 2015 at 11:37 am

LAS VEGAS — The auto finance industry is changing. It’s just a matter of how fast, Exeter Finance Corp. Chief Executive Tom Anderson said in his keynote address at the Auto Finance Summit 2015 yesterday. The auto finance industry is an integral part of the economy. It employs millions andRead More

F&I Lessons From Luxury Captives

F&I Lessons From Luxury Captives

Guides, Management, Operations, Sales & Marketing October 7, 2015 at 4:01 pm

Customer service counts, no matter where you fall on the credit spectrum. However, it’s no secret that luxury customers expect first-class treatment when shopping for a car, and consumers expect that same treatment from captive finance company Mercedes-Benz Financial Services USA, according to Vice President Brian Fulton. “From a luxuryRead More

CREDIT: Subprime Inches Up as Delinquencies Remain ‘Under Control’

CREDIT: Subprime Inches Up as Delinquencies Remain ‘Under Control’

Compliance, Operations, Risk, Sales & Marketing, Uncategorized August 26, 2015 at 8:26 pm

Auto loan delinquencies are “under control,” despite a continued rise in subprime lending, while recent concern about a so-called subprime “bubble” slowly deflates. That’s the upshot of auto finance credit performance today, analysts said. Subprime Continues to Rise Subprime or nonprime loans, as a percent of all lending, are atRead More