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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

This year’s SubPrime Auto Finance Executive of the Year

Dan Ulatowski for spn site
Nick Zulovich, Editor
SubPrime Auto Finance News announced this year’s recipient of the SubPrime Auto Finance Executive of the Year Award, presented by Black Book Lender Solutions. The accolade is going to Dan Ulatowski, who is the chief sales officer at Credit Acceptance, ... [Read More]

More evidence of millennials not understanding credit

businesswoman using smartphone
SubPrime Auto Finance News Staff
According to a new survey released by TransUnion, millennials are less likely than baby boomers to identify milestone life events that could affect their credit. In fact, officials determined less than half of millennials surveyed could cite specific major life ... [Read More]

3 new Equifax credit-based marketing products

car buy button
SubPrime Auto Finance News Staff
Equifax is expanding its marketing offerings with the launch of a new suite of credit-based marketing products for the automotive industry. Fueled by Equifax’s consumer credit data and fraud processes, the products enable Dealer Service Provider (DSP) unique marketing solutions ... [Read More]

AFS Acceptance outlines future after equity sell-off

graph growth
Nick Zulovich, Editor
AFS Acceptance chief executive officer Dov Szapiro explained why his company’s decision to sell 65 percent of its equity to Mexican finance institution Credito Real “could not have occurred at a better time.” With growth expectations stemming from originations as ... [Read More]

September auto defaults tick 2 points higher

analysis pic
SubPrime Auto Finance News Staff
The auto loan default rate for September ticked up 2 basis points on a sequential basis but remained 9 basis points lower than a year earlier. The September reading also was just 7 basis points above the all-time low established ... [Read More]

Penn Warranty now part of F&I Express eContracting network

integration button
SubPrime Auto Finance News Staff
F&I Express announced this week that it will provide its dealer clients with access to products from the Penn Warranty Corp. through F&I Express’ eContracting platform. Through this new relationship, dealers using the F&I Express eContracting platform will have the ... [Read More]

Comptroller calls auto finance behavior reminiscent of mortgage problems

subprime clouds
SubPrime Auto Finance News Staff
Another high-ranking federal regulator tried to tie together what’s happening in vehicle financing nowadays to the mortgage-connected developments that created the Great Recession nearly a decade ago. Comptroller of the Currency Thomas Curry gave a speech to the Exchequer Club ... [Read More]

Mexican institution acquires 65% stake in AFS Acceptance for $18M

scot seagrave at UCW
SubPrime Auto Finance News Staff
Credito Real — an institution in Mexico that boasts five lines of business including used-vehicle installment contracts — announced on Wednesday that it acquired 65 percent of the equity interests issued by AFS Acceptance, a company that specializes in subprime ... [Read More]

DRN rolls out new solution to avoid charge-off losses

chris metaxas for Re3
SubPrime Auto Finance News Staff
Re3 Conference presenting sponsor Digital Recognition Network launched new product on Tuesday that the company is calling its Enterprise Solution — a value-based subscription model for “all-you-can-eat” access to vehicle location data. Finance companies that rely on DRN’s vehicle location ... [Read More]

GWC Warranty adds 4 consultants in 4 markets

new hire
SubPrime Auto Finance News Staff
GWC Warranty, a provider of used-vehicle service contracts and related finance and insurance products sold through dealers, recently hired dealer consultants in four new markets. In adding four new dealer consultants, GWC is now represented with a dedicated presence in the ... [Read More]

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