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SPONSORED EPISODE: Greenville Auto Auction Celebrates 16 Years—A look back and a look ahead
On this sponsored episode of the Auto Remarketing Podcast, Bill Zadeits visits with Billy Willis and Kevin Stallings of Greenville Auto Auction. The auction celebrates 16 years in early September, and the guys talk about the history of the sale, ... Listen Here
Wide-ranging car-business conversation with Lotlinx chairman and CEO Len Short
Lotlinx chairman and CEO Len Short firmly believes car dealers are the most resilient operators in any business. During this episode of the Auto Remarketing Podcast, Short explained why he is anticipating dealers showing that resilience again because it’s needed ... Listen Here
Path to delivering education in Spanish with Ignite Dealer Compliance Group
Steve Levine has dozens of dealer clients with Spanish as their native language. Those dealers also have hundreds of Hispanic customers who cannot speak or understand English. To fill compliance and training gaps created by language challenges, the owner of ... Listen Here

RateGenius: Refinance approvals spike 66%

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SubPrime Auto Finance News Staff
Rising home values often prompt families to refinance their mortgages. Soaring used-vehicle prices evidently have done the same thing within the auto-finance space, according to a report from RateGenius, which works with more than 150 partners nationwide to help consumers ... [Read More]

Warburg Pincus set to acquire Exeter from Blackstone

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SubPrime Auto Finance News Staff
Exeter Finance is changing hands from one investment firm to another that already has a robust automotive portfolio. The finance company that specializes in the subprime market announced on Monday that it has entered into a definitive agreement to be ... [Read More]

From the editor: Remembering Jack Tracey

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Nick Zulovich, Senior Editor
Jack Tracey was a man I looked up to — literally and figuratively. Likely similar to scores of other industry executives, I was jarred this week to learn of the passing of Jack Tracey, a founder and the only executive ... [Read More]

NAF Association executive director Jack Tracey passes away

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Nick Zulovich, Senior Editor
The National Automotive Finance Association said one of its founders and the only executive director it's ever had passed away earlier this week. The NAF Association confirmed in a statement on Friday that Jack Tracey passed away on Monday after ... [Read More]

DriveItAway gains Knightsgate Ventures as institutional investor

John Possumato
SubPrime Auto Finance News Staff
DriveItAway has a new institutional investor. The platform that offers dealerships the chance to provide cash-strapped customers the opportunity to secure a vehicle via its rent-to-own technology announced this week that Knightsgate Ventures — a leading venture capital firm focused ... [Read More]

Lendbuzz lands nearly $700M in growth resources through new funding & debt financing

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SubPrime Auto Finance News Staff
Lendbuzz is striving to modernize what it contends is an “outdated” auto-finance industry, with a focus on serving consumers who have thin or no credit history in the United States. And its drive toward that modernization got quite a financial ... [Read More]

TransUnion: Majority of consumers made payments while in accommodation programs

cash and coronavirus
SubPrime Auto Finance News Staff
Even when finance companies helped their customers with installment payment accommodations during the worst of the pandemic, providers oftentimes still saw funds following into their collection baskets. That’s one of the conclusions from a new TransUnion study that found the ... [Read More]

CFPB reinforces activities with potential MLA ties

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SubPrime Auto Finance News Staff
The Consumer Financial Protection Bureau is taking another deeper look at industry activities and the Military Lending Act (MLA) that one compliance expert said that it “bears watching.” Last week, the CFPB issued an interpretive rule that explains the basis ... [Read More]

Dealertrack Auto Credit Availability Index dips in May

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SubPrime Auto Finance News Staff
You might have noticed it’s been a little more difficult to get your potential buyer’s deal bought by your network of finance companies. The newest Dealertrack Auto Credit Availability Index showed just how much of a pinch in paper funding ... [Read More]

More executive changes at Credit Acceptance

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SubPrime Auto Finance News Staff
The high-level executive changes at Credit Acceptance continued this week. About three months after chief executive officer Brett Roberts announced his retirement, the subprime auto finance company said through a filing with the Securities and Exchange Commission that chief legal ... [Read More]

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