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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5 Payment Technology Trends Shaping Auto Finance

Lenders focus a lot of their attention on making sure the initial sales experience is fast, effortless, and intuitive for consumers, but is the same attention being given to how consumers make those payments once they leave the dealership? Payment technologies have changed a lot even in just the past two years. Anyone who lives […]
  • William Hoffman
  • June 27, 2018
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Consumers Are Willing to Put More Down, If They’re Given a Choice

Consumers shopping for an auto loan predictably care most about their interest rate and monthly payment, according to a FICO study, but this suggests lenders can provide more options for down payment and loan term to optimize the customer experience.    Americans cared most about interest rate with 94% of respondents marking it as an […]
  • William Hoffman
  • June 6, 2018
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Why Lenders Should Consider Offering an Auto Lending App

This summer will mark the 10th anniversary of the debut of the app store which has grown to more than 2.2 million apps, which have come to occupy five hours of a consumer’s day. But, are lenders doing enough to capture that valuable screen time? Billions of smartphone owners use mobile apps daily. A consumer’s […]
  • Emma Sandler
  • May 2, 2018
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7 Ways to Improve the Customer Payment Experience

The rapid increase in connected digital devices is changing the way people interact with the world and thereby making the customer payment experience ripe for innovation and disruption. The idea of paying by check, or wiring money, has become an outdated concept. Instead, you will find customers asking for more than ACH payments, but also […]
  • Emma Sandler
  • April 18, 2018
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Due Diligence Instead of Damage Control: Stopping Auto Lending Fraud Before It Starts

The hard-won lessons of the 2008 financial crisis are more relevant today than ever. While the mortgage industry tightened regulations and lending standards post-crisis, the same cannot be said for the auto lending industry. The volume of auto lending has been steadily growing since 2010, and fraud is unfortunately on the rise, too. While no […]
  • Sagent Lending Technologies
  • April 10, 2018
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How the Digital Age Could Shape Collection Strategy in the Coming Years

We live in the Age of Information. Humans produced 2.5 quintillion bytes of data per day in 2017, according to IBM, and it is often said that humans have generated 90% of the data in the world in the last three years alone. This data is generated through people’s purchasing behaviors, web searches, social media posts and […]
  • Emma Sandler
  • April 4, 2018
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Loan Balance Growth Rates Slow as Lenders Tighten Underwriting

Industry-wide outstanding auto loan balances increased 5.9% in the third quarter, from the same time a year prior — marking the lowest year-over-year growth rate since the second quarter of 2012, according to TransUnion’s latest consumer finance trends webinar. “While nonprime consumers continue to have access to credit in the auto market, their balance growth […]
  • Natalie Mattila
  • November 27, 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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