Lesson From BMW’s E-Car Sharing Initiative

BMW is making inroads in the millennial market. BMW Financial Services, not so much. How to grab the attention of the Millennial generation has long been a question for auto lenders and manufactures. BMW, the OEM, is hoping that DriveNow, the company’s car share program currently available in San Francisco, will be the answer for […]
  • Larissa Padden
  • April 1, 2015
  • 0

Less Paperwork Boosts Efficiency & Strengthens Dealer Relations

Save a tree — use less paper. Cutting down on paperwork can also save a headache, and grow your business. Ent Federal Credit Union, a small community credit union serving Southern Colorado, had a banner year last year, according to William Vogeney, executive vice president and chief lending officer, who estimates that within its auto finance […]
  • Larissa Padden
  • March 9, 2015
  • 0

A Wealth of Data Is Key to Improving Risk Management

What’s needed to stay innovative in auto finance risk management today? Data, data, and more data, according to Preston Cecil, vice president of risk management at Innovate Auto Finance in Fort Worth, Texas. Cecil spoke about how to not only use existing data, but also find new data, during yesterday’s Center for Auto Finance Excellence webinar, […]
  • Larissa Padden
  • February 26, 2015
  • 0

CFPB Monetary Resolutions on the Rise — But That’s OK

Sometimes only money talks… Consumer complaints, lodged via the Consumer Financial Protection Bureau’s complaint portal, can be closed a number of different ways by lenders, most notably with the dreaded “Monetary Resolution.” Last year, 53 auto lenders resolved 230 complaints with monetary resolutions, compared with 42 companies in 2013. However, this type of closure is not […]
  • Larissa Padden
  • February 25, 2015
  • 2

Retention and Loyalty Are GMF Priorities as Lease Provider

Customer retention, loyalty, and efficiency are key goals for General Motors Finance Co., now the sole provider of all Buick and GMC subvented leases, an exclusive agreement that went into effect last week. The captive confirmed the partnership in January 2014, taking over a side of the business it previously shared with Ally Financial Inc. […]
  • Larissa Padden
  • February 13, 2015
  • 2

CREDIT: Delinquencies Remain Low Even as Subprime Grows

DELINQUENCIES Auto loan delinquencies are on the rise, loan terms are getting longer, and as subprime auto lending continues to grow, so does the fear that the industry is on the brink of creating a similar financial crisis that caused the recession about five years ago. That’s the upshot in auto finance credit performance today. […]
  • Larissa Padden
  • January 28, 2015
  • 0

Lenders Look to Grow Through Mobile in 2015

Competition is forecast to be high in 2015, with auto sales slowing and more lenders looking to pick up market share. Plus the elusive attention of millennials continues to be a puzzle many financiers want to solve, and some are hoping that increased mobile capability may help give them an edge in the game next […]
  • Larissa Padden
  • December 19, 2014
  • 0

Operations in Focus: The Future of Auto Finance

In the evolving landscape of auto finance, there are tools and technologies increasingly available to help lenders become more efficient in its operations, thereby allowing them to focus on growth, according to Scott Hendricks, product consultant at Fiserv Automotive Solutions.
  • Larissa Padden
  • December 10, 2014
  • 1

Social Media: Friend or Foe to Hiring Managers?

Social media profiles can be like a window into someone’s life. They can reveal a person’s personality, their likes and dislikes, and even their work ethic – making it a valuable and informative tool for potential employers during a recruitment period.
  • Larissa Padden
  • December 5, 2014
  • 0
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