The latest TransUnion Industry Insights Report found that 80 million consumers held a vehicle lease or retail installment contract as of the close of 2016.
Consumers are relying more on retail installment contracts and leases to acquire cars than they were eight years ago, yet many might not be as prepared as they should be going into the purchase.
Credit Acceptance Corp. posted year-over-year income increases even as company leadership acknowledged the difficulty in keeping originations coming through its dealer network as well as intensifying regulatory demands.
During last week’s industry festivities in the Big Easy, Equifax rolled out solution enhancements with a trio of other service providers — Fiserv, Digital Matrix Systems and Dominion Dealer Solutions.
RouteOne unveiled a pair of solutions aimed at helping dealerships and finance companies complete vehicle deliveries and documents in the showroom or wherever the purchaser might be.
This week, alternative credit data provider FactorTrust finalized a partnership with White Clarke Group, which has automotive and asset finance software for retail, floorplan and fleet.
TransUnion described how quickly technology is being leveraged dishonestly, putting finance companies into a challenging place of chasing for someone who probably never even existed.
Within weeks of reaching a partnership with a subprime auto finance company, AutoGravity — a FinTech developer on a mission to transform auto financing by harnessing the power of the smartphone — announced on Wednesday that potential buyers in 46 states can obtain up to four financing offers on a
White Clarke Group is continuing to organize discussions about how the growing development of blockchain might “revolutionize” the auto finance industry.