SubPrime Auto Finance News Staff

Huntington Bank looked within its ranks to fill a position set to be open because of a retirement as the institution has promoted industry veteran Rich Porrello to president of its auto finance business. Since 2010, Porrello has served as managing director of the auto finance division where he oversees day-to-day... Read More

SubPrime Auto Finance News Staff

More service providers are working together to help dealership finance departments. This week, Dealertrack and DealerCenter announced a strategic integration partnership delivering a more connected F&I workflow. Independent dealerships using DealerCenter's DMS platform can seamlessly connect customer information... Read More

SubPrime Auto Finance News Staff

Each of the five metrics involving used- and new-vehicle financing that Edmunds tracks each month moved higher in November. That collection includes averages for terms, monthly payment, the total amount financed, APR and down payment. Edmunds manager of industry analysis Jeremy Acevedo pinpointed a reason why the... Read More

SubPrime Auto Finance News Staff

The streamlining of financing is happening in the subprime space, too. RouteOne announced on Monday that Exeter Finance is now an available eContracting finance source for dealers utilizing the RouteOne platform. Officials reiterated eContracting can enable the digital exchange of critical contract documents and data... Read More

SubPrime Auto Finance News Staff

Back in October, New York Mayor Bill de Blasio signed a package of legislation giving the city’s Department of Consumer Affairs (DCA) additional regulatory muscle to combat what officials described as “predatory financing practices in the used-vehicle industry.” While those new laws go into effect... Read More

SubPrime Auto Finance News Staff

This week, vehicle service contracts administrator AUL Corp. announced the hiring of Paul Leary to be the business development manager for the company’s Central Region. According to Jason Garner, senior vice president of sales and business development of AUL Corp., Leary will be operating from Columbus, Ohio, and... Read More

SubPrime Auto Finance News Staff

TrainAndCertify.org, which offers education programs for sales and customer service reps in various consumer-centric industries, on Thursday announced the availability of its Certified Vehicle Protection Professional (CVPP) certification program. TrainAndCertify.org explained that it established the CVPP program via the... Read More

Why floor-plan financing is ripe for growth in 2018

SubPrime Auto Finance News Staff

Perhaps finance providers that do not have as much margin for risk as other market players see businesses as a safer bet than consumers in the auto-finance space. New analysis from White Clarke Group that looks ahead to what might happen in 2018 showed that the re-emergence of small and regional banks looking to expand... Read More