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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

GrooveCar Expands Exec’s Role to Include Strategic Alliances

Nick Zulovich
HAUPPAUGE, N.Y. — GrooveCar, one of the nation's largest automotive resource and buying support programs for credit unions, tapped one of its in-house executives to be vice president of strategic alliances. Taking on this newly created position is Robert O'Hara. ... [Read More]

S&P/Experian: Auto Loan Defaults Finish Flat in Q1

Nick Zulovich
NEW YORK — The S&P/Experian Consumer Credit Default Indices showed the first quarter finished flat for auto loans. According to data through March, the auto loan default rate remained flat at 1.11 percent since February. The reading also stayed even ... [Read More]

NABD: Discounted Rooms for Academy & Conference Running Out

Nick Zulovich
LAS VEGAS — As NCM Associates made plans for a special open house between the events, the National Alliance of Buy-Here Pay-Here Dealers said inventory is running out for the special block of rooms for the Dealer Academy and National ... [Read More]

Wells Fargo Highlights Record Originations

Nick Zulovich
NEW YORK and SAN FRANCISCO — At the same time Chase Auto Finance reported its first-quarter performance, Wells Fargo highlighted that auto originations hit a new record during the past quarter. Wells Fargo officials said their auto originations totaled $6.8 ... [Read More]

MBSi Unveils Program to Help Repossession Companies Comply with CFPB Regulations

Nick Zulovich
PHOENIX — MBSi Capital, the developers of the Re-Pros and iRepo repossession software suites, rolled out a new program that aims to make it easier for repossession companies to become and remain compliant with a variety of new government mandates. ... [Read More]

NVLA Adds New Speaker for Next Week’s Annual Conference

Nick Zulovich
FORT WORTH, Texas — Along with a special educational track focused on the lease-here, pay-here industry, the National Vehicle Leasing Association just added another special speaker for its annual conference next week. NVLA said Rick Reekie, a partner in PricewaterhouseCoopers' ... [Read More]

CPS Announces New Residual Financing Facility

Nick Zulovich
IRVINE, Calif. — Consumer Portfolio Services announced late last week it entered into a new $20 million, five-year residual financing facility. CPS officials explained the facility is secured by eligible residual interests in two previously securitized pools of automobile receivables. ... [Read More]

Fitch Publishes Updated US Auto Loan ABS Rating Criteria

Nick Zulovich
NEW YORK — Fitch Ratings recently published an updated asset-backed sector specific criteria report for U.S. auto loan ABS. The firm indicated the new report updates and replaces the prior criteria report published last April. "There have been no material ... [Read More]

Value Buys Hot at Auction, Brasher Reports

Nick Zulovich
SACRAMENTO, Calif. — Commenting on a potential inventory for buy-here, pay-here dealers or stores that might cater to subprime buyers, John Brasher of Brasher's Sacramento Auto Auction noted a particular used segment showed well in the lanes this past week. ... [Read More]

Prestige Financial Completes Largest Rated Term Securitization Ever

Nick Zulovich
SALT LAKE CITY — Prestige Financial Services completed its 11th and largest rated term securitization on Wednesday, issuing $350 million in securities backed by $353,535,758 in automobile installment receivables. In a transaction led jointly by Wells Fargo Securities and J.P. ... [Read More]

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