On Feb. 28, the American Financial Services Association (AFSA) submitted a comment letter to the New York City Department of Consumer Affairs regarding the Department’s proposed rules for secondhand auto dealers. The proposed rules would implement Local Laws 197 and 198 of 2017, which passed the City Council in September.Read More

When it comes to the end of a vehicle’s lease, all involved — lender, dealer, and lessee — appreciate when the turn-in experience is a pleasant one. Third-party vehicle inspections can go a long way toward ensuring pleasant experiences. End-of-lease independent vehicle inspections have become increasingly popular for bringing efficiencyRead More

Multiple subprime auto securitizers are coming to the market with lower average Fico scores, longer terms, and higher loan-to-value ratios than their previous issuances. Yet, these deals are being rewarded with higher ratings. Joseph Cioffi, a partner at Davis & Gilbert LLP, has identified a fair amount of risk inRead More

As mobility services continue to grow, transforming the auto finance landscape, lenders are advised to take action to keep up with the evolving auto space, several executives said during a panel discussion at the 2017 Auto Finance Summit last October. “The people we are in business with are not watching, butRead More

If you are in the auto finance business, you cannot possibly have missed the drama percolating around the Department of Defense’s (DoD’s) new interpretation of its own regulation’s purchase-money vehicle finance exclusion, which says transactions with GAP, credit insurance, or other credit-related ancillary products are not within said exclusion. Rather,Read More

Average interest rates on new-car loans are 14% lower than interest rates on average used-car loans, according to WalletHub’s first-quarter Auto Financing Report released today. “Interest rates for new cars are at one of their lowest points in the past three years,” according to the report. However, at the same time,Read More

For companies looking to attract a growing millennial workforce to their organization, management needs to take a broader approach and find what changes they can make to the company culture to appeal to all types of employees, Scott Gunnell, vice president of sales strategy and development at JM&A Group, toRead More

Technology in the auto industry and the workplace are constantly growing and updating, but if finance companies and dealerships aren’t careful, these changes could leave them with an uninformed and unprepared workforce. The emergence of disruptive technologies and practices such as ridesharing, autonomous vehicles, and online direct dealing are alreadyRead More

Mobility and disruptive technology continue to develop in the automotive industry, and there’s a “big role” for auto finance companies in a disruptive economy, according to Dan Berce, president and chief executive of General Motors Financial Co. As General Motors Co. — GM Financial’s parent — takes more strides intoRead More