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The Spark Between EVs & CPO
In light of electric vehicle maker VinFast launching a certified pre-owned program in the U.S., Auto Remarketing senior editor Joe Overby connects with leaders from the EV space to discuss why the segment is a natural fit for CPO and ... Listen Here
Vincenzo Ciampi of iA Financial Group
Next up on the Canada’s Used Car Week Live Stage is Vincenzo Ciampi . who is senior vice president, of auto finance and dealer services for Canada at iA Financial Group. Ciampi talks with Cherokee Media Group’s Joe Overby about ... Listen Here
Ted Berlovich of Clutch
Continuing the discussions from the Live Stage at Canada’s Used Car Week, senior editor Joe Overby connects with Ted Berlovich, director of wholesale at online used-car retailer Clutch. Berlovich explained the company’s wholesale process, how the company handles some of ... Listen Here

Autoscribe collects 2 more honors during Best in Biz Awards

silver award
SubPrime Auto Finance News Staff
Autoscribe Corp., provider of PaymentVision and Lyons Commercial Data, has been named a silver winner in the Best in Biz Awards, an independent business awards program judged by members of the press and industry analysts. Autoscribe — also a recent ... [Read More]

CFPB hands Clarity $8M penalty

credit report
Nick Zulovich, Editor
The Consumer Financial Protection Bureau is now wielding its enforcement action and penalty powers in the alternative data space. On Thursday afternoon, the CFPB took action against a nationwide credit reporting company, Clarity Services, and its owner, Tim Ranney, for ... [Read More]

Subprime originators gain more market share in Q3

subprime clouds
SubPrime Auto Finance News Staff
As captive activity also registered gains, Experian Automotive highlighted on Wednesday that what it classifies as finance companies — institutions that don’t hold customer deposits but get most of their business from consumers with subprime and deep-subprime credit — gained a ... [Read More]

Fitch notices losses for subprime auto ABS top 8%

another analyst picture
SubPrime Auto Finance News Staff
Fitch Ratings analysts used the terminology “minor cracks” to describe the auto ABS loss trends they continue to see emerging in both the U.S. prime and subprime markets. Analysts spotted that subprime annualized net losses rose for the fifth consecutive ... [Read More]

CPS lands $100M revolving credit facility

money 4
SubPrime Auto Finance News Staff
Seen as the raw material to generate more originations, Consumer Portfolio Services announced this week that it has entered into a new two-year revolving credit agreement with Credit Suisse AG and Ares Agent Services. Executives indicated loans under the new ... [Read More]

DriveItNow & GoMoto partner to enhance shopper engagement at dealership

iPad stock photo
SubPrime Auto Finance News Staff
DriveItNow, a provider of online pre-qualified monthly payment marketing technology, finalized a partnership this week with GoMoto, a dealership engagement solutions provider. Executives explained DriveItNow will be integrated with GoMoto’s mobile kiosk technology to improve the shopper experience and boost ... [Read More]

2 areas where finance companies can improve service

thumbs up suit guy
SubPrime Auto Finance News Staff
The J.D. Power 2015 U.S. Consumer Financing Satisfaction Study gave two specific areas where auto finance providers need to focus their efforts on servicing processes. Stemming from the study that examines the overall customer experience with financing either an automotive ... [Read More]

GO Financial now awarding back-end pool payments

colin bachinsky for SPN
SubPrime Auto Finance News Staff
GO Financial announced on Monday that its first back-end pool payments began this month.  Executives highlighted some of the early GO dealer-partners are seeing the benefits from their first pools maturing and now are receiving back-end pool payments based on ... [Read More]

2 Ohio dealerships settle FTC charges over lease ads

Federal Trade Commission
SubPrime Auto Finance News Staff
The Federal Trade Commission indicated this week that two Ohio dealers have agreed to settle charges from the agency that they deceived consumers with advertisements that touted low monthly vehicle lease payments but failed to disclose key terms of the ... [Read More]

House report calls out CFPB for ‘junk science’

capitol hill for spn story
Nick Zulovich, Editor
The Republican staff of the U.S. House Financial Services Committee gave the Consumer Financial Protection Bureau some interesting reading material to go with its Thanksgiving dinner: A report about how these lawmakers view how the agency is regulating auto financing. On Tuesday ... [Read More]

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