Following the initial workshops nine months ago, White Clarke Group recently delivered its CALMS wholesale finance solution to V12 Vehicle Finance, the automotive financial services arm of Secure Trust Bank, an established, well‐funded and capitalized retail bank in the U.K. White Clarke Group highlighted the solution deployment is designed to give V12 Vehicle Finance greater […] [Read More]

While mandated implementation might be delayed, Experian and Oliver Wyman are still looking to help auto finance companies meet the initial set of deadlines for the Financial Accounting Standards Board’s current expected credit loss (CECL) model via a new solution and webinar. According to a news release distributed on Wednesday, Experian and Oliver Wyman have […] [Read More]

Cars.com will continue as an independent public company. The company said Monday that its board of directors has wrapped up its strategic review process, which lasted 10 months and included 29 prospective bidders. But ultimately, there were “no actionable bids” for Cars.com. Cars.com board chairman Scott Forbes said in a news release: “The board is fully […] [Read More]

In the latest installment of the annual Power 300 issue of Auto Remarketing, we go behind the scenes with some of the leading companies in the used-car space and their top executives with a few Q&A features.  Next up is Jonathan Banks, vice president and general manager of vehicle valuations at J.D. Power.  Auto Remarketing: More than halfway through […] [Read More]

In the latest installment of the annual Power 300 issue of Auto Remarketing, we go behind the scenes with some of the leading companies in the used-car space and their top executives with a few Q&A features.  Next up is Grace Huang, president of Manheim. Auto Remarketing: I recently visited Manheim Metro Atlanta, the former auto auction that now […] [Read More]

In the latest installment of the annual Power 300 issue of Auto Remarketing, we go behind the scenes with some of the leading companies in the used-car space and their top executives with a few Q&A features.  First up is George Chamoun, chief executive officer of ACV Auctions. Auto Remarketing: For wholesale buyers who aren’t 100% comfortable buying online, […] [Read More]

At the beginning of last year, loan origination system (LOS) provider defi SOLUTIONS announced it has raised $55 million in a Series C investment from Bain Capital Ventures. Then last September, Fiserv Lending Solutions announced the launch of its new brand identity as the joint venture between Fiserv and Warburg Pincus became Sagent Lending Technologies. […] [Read More]

Typically, the most risk in auto loan asset-backed securities (ABS) resides in the subprime space stemming from the lower credit tiers connected to that paper. Well, S&P Global Ratings is seeing risk grow within prime ABS, too. Because finance companies are addressing consumers’ shifting preference for larger, more expensive vehicles by extending contract terms up to […] [Read More]

At the highest level, Black Book’s Used Vehicle Retention Index remained steady in July compared to June, as analysts pegged the latest reading at 115. However, looking deeper into the data, Black Book uncovered some notable value movements, mentioning four vehicle segments in particular. Analysts noticed values of compact crossovers (up 0.82%) and sporty cars […] [Read More]

WebBuy introduced what it describes as the nation’s first fully integrated car-buying application to dealerships in 2014, and in the last year, WebBuy says it has seen significant growth in U.S. markets. Now, the company boasts a national network of participating dealerships. On Wednesday, WebBuy announced it has merged with Webgrain, which created the initial […] [Read More]