3 Benefits of Using End-of-Lease Independent Vehicle Inspections

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 that happens. End-of-lease independent vehicle inspections have become increasingly popular for bringing efficiency to the end-of-lease process. These […]
  • Jeff Hanna
  • October 18, 2017
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Fair Aims to Transform Car Ownership [VIDEO]

Used-car leasing app Fair launched last month, which the founders are calling an “iTunes account for your car” offering an all-in-one monthly payment model. And just a few weeks ago, the startup released a demo video showcasing its innovative business model. In short, Fair is buying used cars from dealerships and charging consumers to drive that […]
  • Natalie Mattila
  • October 13, 2017
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How Machine Learning Closes the Loop on Hidden Auto Fraud

An unscrupulous finance manager can manipulate a loan application to disguise a fraud scheme and fool even the most diligent lender. To address this, lenders are increasingly enlisting the help of machines to find hidden patterns of fraud. The technique is new in the fight against automotive lending fraud, but it has been used for […]
  • Frank McKenna
  • October 12, 2017
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Best Practices Survey: We Want to Hear From You

Today is the last day to participate in the Center for Auto Finance Excellence’s best practices survey — and to be entered into a drawing to win a a $50 Amazon gift card. The Center is constantly working to enhance its relevance and service to you and the industry. As an important part of the auto finance community, we are […]
  • Natalie Mattila
  • October 3, 2017
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Why Lenders Should Use Big Data in Decisioning Process

Credit scores have always been an important criterion in a lender’s decisioning process. However, this trend may alter as non-traditional data has increasingly attracted attention in the auto lending industry. Lenders who exclusively use traditional credit bureau scores are “missing a wealth of information that could have a huge impact on underwriting or lending decisions,” […]
  • Huixin Deng
  • September 20, 2017
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Best Practices Survey: We Want to Hear From You

The Center for Auto Finance Excellence is constantly working to enhance its relevance and service to you and the industry. As an important part of the auto finance community, we are coming to our members for best practice insights.Please take a moment to complete this short survey, which will offer valuable benchmark data to the industry. […]
  • Natalie Mattila
  • September 19, 2017
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How to Create a Customer-Centric Auto Lending Experience

The paper process during a transaction is a challenge lenders face in the space, because up to 3% of all loans initiated tend to not get booked, which would lead to “additional work” and “loss in revenue,” Theodore Papailiou, director of value engineering at eOriginal, said during a webinar entitled How to Enhance Vehicle Finance Processes […]
  • Huixin Deng
  • September 11, 2017
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Digital Services ‘Open the Floodgates’ for Disruption, Divido Exec Says [VIDEO]

As on-demand streaming services like Netflix and Spotify transform the expectations of digital consumers, auto lenders will need to “respond quickly” when it comes to funding requirements, Christer Holloman, chief executive and co-founder of Divido, told attendees at the International Auto Finance Network conference in London. “Consumers want things straightaway, they have little brand loyalty, […]
  • Natalie Mattila
  • September 8, 2017
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Millennial Appetite for Auto Loans Outpaces Gen-X at Same Age

Millennials’ appetite for auto loans has grown at a faster rate than Gen-X borrowers at the same age points, according to a study released yesterday by TransUnion. Millennials — who have as much as 24% of the purchasing power in the United States — are different than other generations in terms of their auto purchasing […]
  • Jennifer Ruther
  • August 31, 2017
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