Auto Lenders Must Channel Their Inner Warby Parker

The growing popularity of direct-to-consumer business models like Warby Parker increasingly has implications for the auto finance industry. While the logistics of affording and purchasing a pair of eyeglasses is admittedly much easier than an automobile, the customer experience is highly relevant. This is especially true for subprime auto lenders where consumers are focused on […]
  • Daniel Chu
  • February 20, 2019
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3 Reasons Why Consumers Are Driving Used-Vehicles Longer

Cars are lasting longer, period. I’ve proved that with a sample of one by rolling to 200,000 miles just recently in my 2004 Toyota Sequoia. The motivation for doing this was partly to keep up with my sister in Northern California. She loyally and voraciously maintains mountain-ready Toyota trucks and SUVs well past 200,000 miles. […]
  • Samuel Ellis
  • January 14, 2019
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Compliance Insider: Post-Election Musing

They say elections have consequences, and by all accounts, the 2018 midterms were definitely consequential. As of this writing, the Democrats have flipped 33 seats to take control of the House, effectively quashing President Donald Trump’s hopes of pushing through his legislative agenda. Republicans appear to have increased their Senate majority by two seats but […]
  • Michael Benoit
  • December 17, 2018
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California Expands Auto Loan Protections for Servicemembers

On September 19, California governor Jerry Brown signed AB 3212 which provides benefits and protections to servicemembers under the state’s Military and Veterans Code. It is the state’s version of the federal Servicemembers Civil Relief Act (SCRA), 50 U.S.C. § 3952. AB 3212 extends the length of time that servicemembers in California are protected against […]
  • Chad Fuller
  • December 12, 2018
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5 Ways Lenders Should Leverage Advertising to Bolster Origination Volume

With consumer confidence at an 18-year high, and retail sales for the holiday season expected to be 4.1% higher than last year, advertising a new car in the driveway with a bow on top might be more effective than ever for moving vehicle inventory at year-end. This, in turn, could lead to higher auto loan and […]
  • Sagent Lending Technologies
  • December 5, 2018
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Warning Signs on the Road for Auto Lenders

The warning signs are evident: a growing reliance on new, unproven loan products; a sharp spike in early delinquencies; and the collapse of a few smaller subprime lenders. Is auto lending in 2018 beginning to resemble the housing market circa 2008? Perhaps, but there are important differences. The economy is stronger than it was 10 […]
  • Matt Isaacson
  • November 28, 2018
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Buckling Up for the Evolution of Car Ownership

The digital revolution has triggered a number of major changes for the auto industry over the course of the past two decades.  We are now seeing cars at the center of a new wave of technology — autonomous vehicles, artificial intelligence, machine learning, miniaturized sensors, 3D printing, new fuel sources and engineering, robotic manufacturing processes, […]
  • Anthony Rodio
  • November 2, 2018
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The Story Behind NMAC’s $40M Auto Financing Settlement

Auto finance is risky. It can also be very bizarre. The recent lawsuit between Nissan Motors Acceptance Corporation and a group of New York-based Nissan and Infinity dealers is an example. In this unfortunate situation, it took just 10 months for NMAC to find itself a whopping $30 million deep with a new client before […]
  • Josh Wortman
  • October 22, 2018
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Military Lending Act Continues to Plague Auto Finance Industry

Since the Department of Defense released its amended interpretive rule in December 2017, the Military Lending Act (MLA) has been a source of much confusion and consternation for the auto finance industry. Before that time, most of the industry operated under the understanding that the MLA’s exclusion from coverage for consumer credit transactions “expressly intended […]
  • Patricia Covington and Erica Kramer
  • October 19, 2018
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