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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

700Credit, DealerClick Partner for Access to Reports & More

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SubPrime Auto Finance News Staff
700Credit, which provides credit, compliance and prescreen products and services exclusively to the automotive industry, recently formed an integration partnership with DealerClick, a leader in automotive software solutions. Officials said this agreement will allow DealerClick dealers seamless and secure access ... [Read More]

CU Direct Connect Tops $1B in Loans in 2014

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SubPrime Auto Finance News Staff
CU Direct Connect (CUDC) announced its year-end results this week as auto loan application volume jumped 25.3 percent. That rise helped CUDC to close 2014 with more than $1 billion in funded loans netting a year-over-year increase of 30 percent.  ... [Read More]

Westlake Flooring Helps NJ Dealership Consolidate Into 1 Location

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SubPrime Auto Finance News Staff
Westlake Flooring, a division of Westlake Financial Services, recently financed the acquisition of Phoenix Truxx’s current dealership location, helping the heavy-duty truck enterprise consolidate its operation in New Jersey.  Officials highlighted the property had been in bankruptcy foreclosure and Westlake ... [Read More]

3 Components of vAuto’s New Subprime Tool

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SubPrime Auto Finance News Staff
Emphasizing three main capabilities, vAuto introduced what it dubbed a Subprime Booking module as part of its Provision system to help dealers address the challenges of properly acquiring subprime inventory and matching credit-challenged customers to those vehicles. As the latest ... [Read More]

Student Loans Create 9% Dip in 2014 Lease Approvals

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SubPrime Auto Finance News Staff
The pool of subprime borrowers for finance companies to service potentially could be getting deeper judging by the reason Swapalease.com cited as the trigger for auto lease credit approvals for 2014 dropping by nearly 9 percent year-over-year. Swapalease.com reported last ... [Read More]

Key Case Could Cut CFPB’s Ability to Use Disparate Impact

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Nick Zulovich, Editor
The ability for federal regulators such as the Consumer Financial Protection Bureau to use disparate impact theory to hand out enforcement actions against finance companies that provide auto financing could be reduced or even eliminated, depending on how the Supreme ... [Read More]

Dealertrack’s Henrick to Host FTC Compliance Workshops at NADA Convention

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SubPrime Auto Finance News Staff
Dealertrack Technologies associate general counsel for regulatory and compliance Randy Henrick will be a featured workshop speaker at this week’s National Automotive Dealers Association Convention and Expo in San Francisco. Henrick will conduct two workshop sessions to educate dealers on ... [Read More]

Auto Finance Closes In On $1 Trillion

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SubPrime Automotive News Staff
Auto finance is getting closer to becoming a $1 trillion business. According to the latest Equifax National Consumer Credit Trends Report released Tuesday at the Vehicle Finance Conference and Exposition hosted by the American Financial Services Association, the total balance ... [Read More]

4 Ways to Prevent Fraud Inside Finance Companies

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SubPrime Auto Finance News Staff
Since half of the specialty finance companies that participated in a recent survey conducted by McGladrey experienced some form of fraud during the past 12 months, senior manager Ronnie Lee devised four strategies institutions can implement to overcome possible unscrupulous ... [Read More]

Subprime Trouble? Moody’s and Consumer Advocates Differ

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SubPrime Auto Finance News Staff
Despite consumer advocates insisting that rising auto financing default rates are mirroring the mortgage mess that triggered the most recent recession, Moody’s Investors Service explained that elevating delinquencies for loans originated by independent finance companies reflect a loosening of credit ... [Read More]

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