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Recapping credit scores & other trends in auto finance with Shams Blanc of FICO
Shams Blanc, head of auto scores at FICO, made another appearance on the Auto Remarketing Podcast to elaborate more about the fall edition of the FICO Score Credit Insights report. Along with recapping what’s going on in auto finance, Blanc ... Listen Here
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

NADA requests leaked CFPB memo

gavel and documents
SubPrime Auto Finance News Staff
Exactly two weeks before a consent order involving American Honda Finance Corp. came to light, documents the Consumer Financial Protection Bureau shared by anonymous sources generated online reports about the forthcoming regulatory developments. Now, the National Automobile Dealers Association wants ... [Read More]

NextGear Capital entering 30 new markets

cars on road today
SubPrime Auto Finance News Staff
NextGear Capital recently announced plans to expand into 30 additional markets across the U.S. The company indicated that its enhanced technology offerings, flexible terms and customer service have led to an increase in customers, resulting in the need for these ... [Read More]

BillingTree launches new payment solution, branding

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SubPrime Auto Finance News Staff
BillingTree highlighted a string of new developments on Wednesday, including the launch of Payrazr, a comprehensive suite of in-house developed payment solutions. The company also revealed a completely refreshed corporate branding, redesigning its logo, adopting the tagline “Growing Payments with ... [Read More]

AUL introduces 2 warranty products targeted directly at private consumer market

buying car 13
SubPrime Auto Finance News Staff
AUL Corp. has worked with dealers and agents to sell extended service warranties to their vehicle buyers for the past 25 years. On Tuesday, AUL chief executive officer Luis Nieves rolled out a pair of products that are being targeted ... [Read More]

Honda ordered to cap dealer markup at 125 bps or lower

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SubPrime Auto Finance News Staff
The Consumer Financial Protection Bureau and Department of Justice just took a big bite out of the F&I income Honda dealerships can generate through the financing of vehicle installment contracts by their captive. CFPB and DOJ officials said on Tuesday ... [Read More]

AG penalizes 23 NY dealerships over deceptive advertising

news report stock photo
SubPrime Auto Finance News Staff
What law enforcement considers to be deceptive advertising associated in part with vehicle financing is continuing to hit New York dealerships in the pocketbook. New York attorney general Eric Schneiderman announced two separate settlements on Tuesday involving 23 franchised dealerships ... [Read More]

2 suggestions for maintaining profitability

sales increase
SubPrime Auto Finance News Staff
While the Office of the Comptroller of the Currency acknowledged vehicle installment contract delinquencies are are at “manageable” levels now, FICO’s analytic team recently offered a pair of recommendations to help finance companies protect profitability in case those conditions deteriorate. ... [Read More]

How F&I training can add ‘prestige’ to job

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Nick Zulovich, Editor
When IDDS Group co-founder and chief executive officer Max Zanan arrives at a dealership to conduct a consulting and training session, he acknowledged that he rarely sees any documents hanging within the F&I department that shows managers are certified through ... [Read More]

GSFSGroup organizes program to serve veterans

GSFS_VeteransService for SPN
SubPrime Auto Finance News Staff
Associates from GSFSGroup, a nationwide provider and administrator of F&I products, recently banded together to honor the nation’s military veterans by collecting, assembling and delivering hundreds of care packages to the Michael E. DeBakey VA Medical Center in Houston. The ... [Read More]

Negative consequence of 65-month new-car contracts

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Nick Zulovich, Editor
Cox Automotive chief economist Tom Webb didn’t reference the Federal Reserve’s revamped consumer credit report that includes more details about auto financing when he conducted his quarterly conference call this week. But the metrics the Fed reported probably didn’t provide ... [Read More]

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