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Matt Babcock of Wolters Kluwer on how digital transformation continues to gain steam in auto financing
Matt Babcock, who heads up digital lending product strategy for Wolters Kluwer, returned for another visit on the Auto Remarketing Podcast. Wolter Kluwer recently released its latest quarterly Auto Finance Digital Transformation Index. Babcock recapped the sustained upward trajectory the ... Listen Here
SPONSORED EPISODE: The Buy Online Shift & What Dealers Need to Know Now
In this sponsored episode of the Auto Remarketing Podcast, Cox Automotive’s Jeri Reichel joins us to speak to the evolving Buy Online experience. She shares more about how shopper expectations are changing and what dealers should understand and do as ... Listen Here
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

Credit Acceptance Discusses 3 Main Factors Influencing Today’s Subprime Market

Nick Zulovich
Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 SOUTHFIELD, Mich. — After closing a quarter when the company posted strong gains in both consolidated and adjusted net income, Credit Acceptance Corp. leaders reflected on how they arrived at those ... [Read More]

Chrysler Capital Commences Official Business Today

Nick Zulovich
DALLAS — The new private-label, full-service lending program of Santander Consumer USA and Chrysler Group officially launched today. Chrysler Capital is designed to offer a broad spectrum of financing services for Chrysler customers and dealers. Under a 10-year, private-label agreement ... [Read More]

Fitch: US Auto ABS Generates ‘Stellar’ March Performance

Nick Zulovich
NEW YORK — As expected by Fitch Ratings, U.S. auto ABS posted "stellar" seasonal results in March. Fitch indicated both losses and delinquencies declined across prime and subprime auto ABS even as used-vehicle values softened, a trend analysts are expecting ... [Read More]

MBSi Capital Unveils Mobile Application to Manage Repo Assignments in the Field

Nick Zulovich
PHOENIX — MBSi Capital, the developer of the Re-Pros and iRepo repossession software suites, rolled out what it's calling the repossession industry's first full-featured mobile application. The company highlighted the solution can enable repossession companies to manage and update assignments ... [Read More]

CNW Spots Slowdown in Subprime Approvals This Month

Nick Zulovich
BANDON, Ore. — Approvals for subprime auto loans might have hit a speed bump this month. CNW Research indicated that subprime loan approvals have softened by 3.94 percent so far in April as compared to March. President Art Spinella elaborated ... [Read More]

Credit Acceptance Announces Completion of $140.3 Million Asset-Backed Financing

Nick Zulovich
SOUTHFIELD, Mich. — Credit Acceptance Corp. last week announced the completion of a $140.3 million asset-backed non-recourse secured financing. Pursuant to this transaction, the company said it contributed loans having a net book value of approximately $187.8 million to a ... [Read More]

New York Officials Ask Credit Bureaus to Modify Sandy Victims’ Scores

Nick Zulovich
ALBANY, N.Y. — New York Gov. Andrew Cuomo is asking credit scoring and reporting bureaus to take immediate action to stop the lowering of credit scores for Superstorm Sandy victims who may be enduring storm-related financial difficulties "beyond their control." ... [Read More]

Nationwide Acceptance Pushes Footprint to 23 States

Nick Zulovich
CHICAGO — Nationwide Acceptance expanded its subprime auto sales finance program to service dealers, broadening its footprint to 23 states. Last week, Nationwide Acceptance began operating in Alabama. "We are very excited to continue our expansion and to offer our ... [Read More]

SEC Charges Capital One with Understating Auto Loan Losses

Nick Zulovich
WASHINGTON, D.C. — The Securities and Exchange Commission on Thursday charged Capital One and two senior executives for understating millions of dollars in auto loan losses incurred during the months leading into the financial crisis. Officials said an SEC investigation ... [Read More]

Top 10 Used & New Models Eyed by Non-prime Buyers

Nick Zulovich
IRVINE, Calif. — CarFinance.com released data on the top 10 new- and used-vehicle choices for its below-prime car buyers during the past six months. Comprising the list of used vehicles were three pickups from domestic OEMs. The Top 10 included: ... [Read More]

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