Upstart, an artificial intelligence lending marketplace whose platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small-dollar “relief” loans, announced a forward-flow commitment from funds managed by affiliates of Fortress Investment Group. According to a news release, Fortress has agreed to purchase up to $1.2 billion of consumer loans […] [Read More]

As the captive finance company put it: “Things are about to get reels good, reels fast.” In a move meant to help its franchised dealerships, too, Toyota Financial Services  said it is “flipping the script” on auto finance storytelling with the launch of its brand-new Instagram channel, which is designed to be a fresh, immersive, […] [Read More]

Santander Consumer USA received more than just an auto-finance applicant’s credit score and risk assessment from FICO. At the FICO World Conference on Wednesday, FICO announced Santander has won a 2025 FICO Decisions Award for its use of machine learning. Officials highlighted SCUSA has transformed its credit risk assessment processes using FICO Platform and its […] [Read More]

Westlake Portfolio Management (WPM) is back in the business of absorbing outstanding portfolios. The subsidiary loan servicing company of Westlake Technology Holdings has entered into a servicing agreement with Mechanics Bank Auto Finance (MBAF) to oversee and manage its portfolio consisting of active and charged-off auto loans in a move that became effective on May […] [Read More]

While auto dealership M&A in the first quarter was down year-over-year, buy-sell momentum is building and there is “plenty of opportunity” in coming months, according to The Presidio Group, which anticipates a “very active M&A environment” the rest of the year. The firm’s latest report, Presidio Perspectives: A Quarterly Outlook on Auto Retail and M&A […] [Read More]

Click-Ins is partnering with Turn Automotive to bring its patented artificial intelligence-powered vehicle inspection platform to Turn’s digital wholesale marketplace for dealers and consumers. The collaboration will use Click-Ins’ technology to augment Turn’s appraisal process. “We went into the discussions with Click-Ins having tested nearly every solution in the market,” Turn Automotive founder Marc Steiner […] [Read More]

automotiveMastermind, soon to be part of a new company, has a new leader. The automotive data and technology provider has promoted Aaron Baldwin from chief product officer to CEO, replacing Matt Leone, who is stepping down after five years at the helm. The move comes just a week after automotiveMastermind’s parent company, S&P Global, announced […] [Read More]

ACERTUS has a new chief operating officer and a new chief financial officer. The automotive logistics-as-a-service company said Tuesday that Alisha Buelt has been promoted to COO and Michael DeLuca has been hired as CFO. Buelt has been with ACERTUS for 15 years and was most recently senior vice president of global strategy. She was […] [Read More]

Lotlinx announced it has hired industry veteran Kerri Wise to its leadership team, calling its new chief marketing officer “a trailblazer in automotive retail marketing.” In a news release, the inventory management platform said Wise will lead its marketing strategy, brand development and dealer engagement initiatives as the company seeks to expand its footprint and […] [Read More]

Nearly half of U.S. small and microbusiness owners — which can include independent and buy-here, pay-here dealerships — expect the national economy to weaken in the coming months. Despite the outlook, most still believe their own businesses will grow, according to a new survey data released on Monday by GoDaddy. In the latest findings from […] [Read More]