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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

GM Successfully Acquires AmeriCredit

Nick Zulovich
FORT WORTH, Texas — General Motors Financial, formerly AmeriCredit, announced it has successfully been incorporated into General Motors. Basically, GM Financial is the surviving corporation of AmeriCredit's merger with Goalie Texas Holdco Inc. and became a wholly owned subsidiary of GM Holdings ... [Read More]

Fiat Taps Ally Financial as Preferred U.S. Financing & Remarketing Source

Nick Zulovich
AUBURN HILLS, Mich. — Chrysler announced today that it has selected Ally Financial as the preferred financing provider for Fiat vehicles in the U.S. Ally plans to provide retail financing, leasing, wholesale financing, working capital and facility loans, in addition to ... [Read More]

Wells Fargo, Fifth Third Bank Pledge Credit Facilities to SNAAC

Nick Zulovich
CINCINNATI — Security National Automotive Acceptance Corp. recently received revolving credit facilities from both Wells Fargo Preferred Capital and Fifth Third Bank to expand its auto finance and insurance operations. The total amount SNAAC secured was $200 million. "We are extremely ... [Read More]

Sparta to Launch Non-Prime Lease Program to Help Powersports Dealers Move Inventory

Nick Zulovich
NEW YORK — After conducting analysis spotting a significant need, Sparta Commercial Services this week is launching a new consumer leasing program targeted at the non-prime powersports market. Fueled by a multimillion-dollar line of credit it closed recently, Sparta believes it ... [Read More]

Fitch: Prime Auto Delinquencies Plummet 33 Percent Annually

Nick Zulovich
NEW YORK — Fitch Ratings recently revealed that U.S. prime auto delinquencies declined 33 percent on a year-over-year basis. On a month-to-month basis, delinquencies inched higher just a bit, however, which Fitch attributes mostly to seasonal trends. Fitch found that prime ... [Read More]

Prestige Gains Conduit Facility from J.P. Morgan Chase

Nick Zulovich
SALT LAKE CITY — Prestige Financial Services announced late last week it established an asset-backed commercial paper conduit facility through J.P. Morgan Chase Bank, N.A. in Chicago. Executives indicated the facility totaled $150 million. They went on to note the ... [Read More]

Non-Prime Regional Lender Receives Wells Fargo Credit Facility

Nick Zulovich
DES MOINES, Iowa — For the second time this month, Wells Fargo Preferred Capital handed out a revolving credit facility to a regional non-prime lender that works with franchise and independent dealerships. The latest facility coming to fruition last week was for ... [Read More]

Subprime Used-Vehicle Sales Begin to Rebound, Albeit Still Down Dramatically from 2007

Nick Zulovich
BANDON, Ore. — As of August, the share of used-vehicle sales to consumers with FICO scores under 619 apparently rose to the highest level since March 2008. However, on the new-car side, buyers with a FICO below 619 have risen only ... [Read More]

CPS Announces First Rated Securitization Since 2008

Nick Zulovich
IRVINE, Calif. — On Monday, Consumer Portfolio Services announced the closing of its first rated-term securitization in more than two years. The transaction represents the company's first senior subordinate securitization since 1993, according to management. In the transaction, qualified institutional buyers ... [Read More]

NVLA to Host Leasing Workshop This Fall

Nick Zulovich
HANOVER, Md. — Topics ranging from lease accounting to Red Flags and social media are on the docket for the National Vehicle Leasing Association's daylong fall workshop. Besides those three subjects, the association's workshop is set to touch on bankruptcy and GPS tracking ... [Read More]

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