Former Tesla Exec Maps Strategies for New Venture With Startup Fair

Shared services are gaining momentum, as the opportunity for mobility outweighs consumers’ desire for ownership, Diarmuid O’Connell, chief strategy officer for subscription service Fair, told Auto Finance News. Formerly vice president of business development for Tesla Inc., O’Connell was one of the company’s longest-serving executives before his departure in October 2017. He was instrumental in […]
  • Nicole Casperson
  • August 20, 2018
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Best Practices in Loan Servicing Detailed by Ally, Hyundai Capital, First Associates

The administrative aspects of servicing the life cycle of a loan from origination until pay off has become an industry in and of itself. Banks, captives, and primary loan servicers, all must pay special attention to how they are collecting principal and interest on the loan well after the borrower leaves the dealership. It is also […]
  • Nicole Casperson
  • August 15, 2018
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MOBI’s CEO Shares How to Make Blockchain a Reality

Manufacturers and their captive finance companies are facing disruptive technology trends that are impossible to ignore — and the emergence of blockchain is one. But, to make blockchain a reality, companies need to stop racing towards innovation and start with a community. “Maybe it isn’t so much about the tech, it’s really about the ecosystem,” […]
  • Nicole Casperson
  • August 8, 2018
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Auto Finance Excellence Relaunches as a New Community for Industry Professionals

Auto Finance Excellence today relaunched as a comprehensive online community and industry resource for best practices and advice for auto lending and leasing professionals. At the new Auto Finance Excellence (www.autofinanceexcellence.org), formerly known as the Center for Auto Finance Excellence industry executives will find insights, ideas, and innovation on the practice of auto finance. The […]
  • Nicole Casperson
  • August 6, 2018
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Mitsubishi’s Involvement in Alliance Drives Profitability for OEMs, Lenders

Mitsubishi Motors North America is in a “strong” position to deliver improved profitability, more appealing products, and advanced technologies, thanks to its participation in the Renault Nissan Mitsubishi alliance, newly appointed Chief Operating Officer Mark Chaffin told Auto Finance News. Last month, the alliance reported a 14% increase in annualized “synergies” — the result of […]
  • Nicole Casperson
  • August 3, 2018
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Westlake Details Benefits of Vendor Partnerships

Lenders can cut operational costs by partnering with third-party vendors and allowing them minor involvement in specialized services without diverting focus from a lender’s core business, Paul Kerwin, chief financial officer of Westlake Financial Services, told Auto Finance Excellence. Third-party vendors create a mutually beneficial relationship. Lenders reduce operation costs and better optimizes services that […]
  • Nicole Casperson
  • August 1, 2018
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Used-Car Prices at Risk of Rising Should New-Car Tariffs Go Into Effect

Though the proposed auto tariffs are geared toward new vehicles and their parts, the trickle-down effect could mean higher used-car prices and volumes. “If tariffs are put into place, we are assuming that the manufacturers will need to raise prices as they cannot absorb the additional costs of the vehicles,” said Joe Halovanic, a vice […]
  • Marcie Belles
  • July 27, 2018
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Subprime Doesn’t Have to be Subpar

New data shows that more consumers are late on subprime auto loans than at any point since 1996. That means more people are skipping payments now than even during the financial crisis. As a result, lenders are pulling back from the space and credit options for subprime borrowers are drying up or rising in cost. […]
  • Daniel Chu
  • July 23, 2018
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Repossession Services: Price vs. Value

In today’s environment, repossession and skip tracing services have come to be viewed somewhat as commodities. Compliance requirements aside, many lenders seem far more focused on the price being paid rather than the results being produced. This can be a costly mistake. Given the collateral values involved, the net value of recoveries is far more […]
  • Mike Levison
  • July 20, 2018
  • 0
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