Friday, December 14, 2018 - 9:28am

SubPrime Auto Finance News Staff

Ally Financial specifically targeted locations in Florida, North Carolina, California, Michigan and New Jersey where its holiday cheer could be most impactful. The finance company is showing its appreciation for its dealer customers this holiday season with a series of donations across the country aimed at dealership... Read More

Thursday, December 13, 2018 - 10:39am

SubPrime Auto Finance News Staff

Pegasystems revealed results of a consumer study about extended vehicle warranties that likely reinforce the value proposition finance managers present to their customers, but also probably reiterate store frustrations over sales penetration rates for these products not being higher. Pegasystems, a software company,... Read More

Wednesday, December 12, 2018 - 12:11pm

SubPrime Auto Finance News Staff

If contract holders already were 30 days behind on their installment payment when Halloween arrived, they now might be up for repossession, especially in the 20 states that Experian identified as having a 30-day delinquency rate above 2 percent at the end of the third quarter. According to Experian’s State of the... Read More

Tuesday, December 11, 2018 - 12:17pm

SubPrime Auto Finance News Staff

More details arrived on Tuesday from KAR Auction Services with regard to its presence in the repossession and recovery spaces. According to a news release, KAR announced a consolidated management team for its software as a service businesses Recovery Database Network (RDN) and recently acquired Reno, Nev.-based... Read More

Monday, December 10, 2018 - 10:21am

SubPrime Auto Finance News Staff

According to the newest update from the Federal Trade Commission, checks literally are in the mail for customers of a California dealer group that settled with the regulator last year. The FTC said it is mailing 43,456 checks totaling more than $3.5 million to consumers subjected to deceptive and unfair sales and... Read More

Friday, December 7, 2018 - 11:08am

Nick Zulovich, Senior Editor

Perhaps reflecting a process as difficult as getting vehicle financing finalized for a customer with too little monthly income and too much debt burden and negative equity, the nearly six-month, politically divided slog to confirm Kathy Kraninger as the next director of the Consumer Financial Protection Bureau reached a... Read More

Friday, December 7, 2018 - 11:01am

SubPrime Auto Finance News Staff

The senior vice president of operations at Primeritus Financial Services now is the forwarding company’s first chief operating officer. The company announced on Friday that Chris McGinness has been appointed as COO effective immediately. As chief operating officer, Primeritus highlighted that McGinness’... Read More

Thursday, December 6, 2018 - 11:07am

SubPrime Auto Finance News Staff

Not since the credit pinch triggered by the Great Recession have subprime originations been this low, giving finance companies a clear indication where in the cycle the industry currently sits. With the uptick in average credit scores for vehicle financing across the board, Experian indicated the percentage of subprime... Read More