CPS Eyes Dealer-Based Tech to Bolster Origination Volume, Customer Experience

Subprime lender Consumer Portfolio Services Inc. is allocating funds toward its dealership portal and artificial intelligence as it looks to boost origination volume without sacrificing credit quality, Senior Vice President of Originations Teri Robinson told Auto Finance News. “We don’t compete as aggressively, we focus a lot on customer service and try to be the […]
  • Nicole Casperson
  • February 11, 2019
  • 0

CU Direct Offers Tips for Origination Growth Despite Looming Economic Downturn

Though credit unions have thrived in the current auto finance market, CU Direct is warning the 1,100 lenders on its platform to remain cautious as near-term macroeconomic factors — like rising interest rates and a potential downturn — are likely to spark additional risk factors. “[Lenders] need to increase their rates along with the [Federal […]
  • Nicole Casperson
  • December 3, 2018
  • 0

Fintech Continues to Transform Auto Finance, but Will it Take Over?

Fintech companies that advertise efficient financing solutions are becoming more prevalent in the auto industry. Technology is advancing in a way where traditional players have no choice but to partner with new entrants, but the tide hasn’t completely turned from competition to collaboration. That’s according to Chris Chestnut, president of Payix. “I think, holistically, from the […]
  • Cody Lyon
  • March 23, 2017
  • 2

Hints of an Auto Lending Plateau

These have been the best of times. Auto lending over the past few years has hit new highs, buoyed by vibrant car sales. It would be tough to find an auto finance venture that hasn’t benefited from the strong SAARs in recent years. As an example, by the end of last year JPMorgan Chase & Co. reported […]
  • JJ Hornblass
  • August 29, 2016
  • 0

Happy Dealers Bring Happy Customers

Recognizing that happy consumers require attention and consideration from dealers whoa re themselves content, Huntington Bancshares Inc. has set out to ensure its network of 3,700 dealers is kept as happy as possible. In February, as part of its dealer relations strategy, the bank rolled out an enhanced system that clearly displays pricing to F&I managers. […]
  • Monica Link
  • March 17, 2015
  • 0