At last year's National Automotive Finance Association Non-Prime Auto Financing Conference keynote session, Hudson Cook chairman Tom Hudson broke the ice by stating he could validate how great of a relationship he had with Rick Hackett, who at the time was assistant director of the Consumer Financial Protection Bureau. Now the connection between the legal […] [Read More]

Earlier this week, Exeter Finance Corp. announced that EFCAR, LLC, a special purpose Delaware limited liability company and wholly owned subsidiary, priced $650 million in aggregate principal amount Series 2014-1 automobile receivable backed notes, which will be issued in four separate tranches. Officials said the class A notes were rated AAA/AA by DBRS and Standard […] [Read More]

The American Financial Services Association installed Joy Falotico, executive vice president, marketing, sales and the Americas at Ford Motor Credit, as chair of AFSA's Vehicle Finance Division Board, succeeding Andrew Stuart of VW Credit. In this role, AFSA highlighted Falotico will oversee the division's initiatives and chair the 2015 Vehicle Finance Conference & Expo, which […] [Read More]

Earlier this week, RouteOne highlighted it will offer its finance source customers what the company is calling a "shortcut" that can allow them to quickly and easily support the RouteOne eContracting process without the typical technology investment. The company explained DiscountOne is a new eContracting product offered exclusively to RouteOne finance source customers. It can […] [Read More]

Earlier this week, RouteOne highlighted it will offer its finance source customers what the company is calling a "shortcut" that can allow them to quickly and easily support the RouteOne eContracting process without the typical technology investment. The company explained DiscountOne is a new eContracting product offered exclusively to RouteOne finance source customers. It can […] [Read More]

Kia Canada Inc. announced it has resolved litigation involving a restatement of fuel consumption ratings from November 2012. The company has reached an agreement with current and former owners and lessees of vehicles affected by the restatement, which included 41,000 Kia vehicles from the 2011-2013 model years. The proposed settlement agreement is valued at up […] [Read More]

After rising during most of last year, used-car prices continued their upward trek during the last month of 2013, climbing by 2.5 percent on a monthly basis. And though used-vehicle prices rose by 4.3 percent in December on a year-over-year basis, RVI provided some good news for the future in its latest RVI Risk Outlook. […] [Read More]

In an effort to help used-car managers complete the floor-planning process as quickly as possible, NextGear Capital recently tapped Violin Memory, a provider of persistent memory-based storage solutions, to accelerate the delivery of key services to the company's customer base of more than 17,000 dealers in North America. Using the Violin 6000 Series Flash Memory […] [Read More]

Last week during the midst of the American Financial Services Association's Vehicle Finance Conference, Santander Consumer USA announced the pricing of its initial public offering. The company is selling 74,991,470 shares of common stock at a price of $24 per share. Santander Consumer USA's common stock began to trade on the New York Stock Exchange […] [Read More]

Auto finance receivables purchaser SFG Finance highlighted this week that its portfolio grew 30 percent over the last year. SFG Finance indicated the majority of this increase came from the company's subprime flow program — an initiative in which independent, indirect auto lenders originate and immediately pass through auto loans that meet SFG Finance's program […] [Read More]