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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

Recovery of Used-Vehicle Prices Boosts Residuals for SUVs, Trucks

Nick Zulovich
NEW YORK — Many auto companies curtailed leasing in 2008 as residual values caused a lot of concerns. As DBRS pointed out in its latest report, residual values are a critical component of auto asset-backed securities' rating criteria. "One of the ... [Read More]

Fireside Bank Exits Auto Finance Business

Nick Zulovich
CHICAGO — Unitrin, which is Fireside Bank's parent company, announced today that the subsidiary is suspending new lending activity and exiting the auto finance business. Basically, Unitrin said this decision follows a review into the strategic alternatives for Fireside. The move ... [Read More]

Kia, CUDL Team Up to Offer Discounts to Credit Union Members

Nick Zulovich
ONTARIO, Calif. — CUDL and Kia Motors America announced they have entered a  new partnership to provide credit union members discounts on new 2008 and 2009 vehicle purchases. The new partnership between the Credit Union Service Organization and KMA provides members ... [Read More]

GMAC Responds to Concerns Over Its Wholesale Financing, Curtailment Practices

Nick Zulovich
DETROIT — In a statement released this week, GMAC Financial Services said it is doing everything it can to provide broad-based funding support for dealerships during the difficult economy. For instance, even with the tight credit markets, the company said it ... [Read More]

Experian Automotive: Auto Delinquencies Climb by Double Digits

Nick Zulovich
SCHAUMBURG, Ill. — This morning, Experian Automotive announced that 60-day past due climbed by double digits year-over-year from the fourth quarter of 2007 to 2008. More specifically, the company discovered that these delinquencies are up nearly 17 percent. Currently, 1.04 percent of ... [Read More]

Wells Fargo Capital Infuses Summit with $20 Million Revolving Credit Facility

Nick Zulovich
DES MOINES, Iowa — Wells Fargo Preferred Capital announced this week that it recently added $20 million to Summit Financial Corp.'s existing Bank of America Business Credit facility of $55 million, bringing the total facility to $75 million. Currently in its ... [Read More]

Finance Express Teams Up with ComplyNet to Offer Red Flags Assistance

Nick Zulovich
RANCHO SANTA MARGARITA, Calif. — Finance Express, a leading provider of Web-based financial services and technology for independent auto dealerships, recently announced that ComplyNet Corp. has entered an agreement to join the its online dealer management system. ComplyNet offers online and ... [Read More]

TransUnion: Worst in Auto-Loan Delinquencies May be Over

Nick Zulovich
CHICAGO — Throughout the nation, the 60-day auto delinquency rate climbed by almost 9 percent year-over-year in the fourth quarter, according to TransUnion.com. Discussing these results with SubPrime Auto Finance News, Pete Turek indicated that delinquencies will rise 41 percent through ... [Read More]

AFCD, Nowcom to Offer Dealers More Lender Opportunities

Nick Zulovich
LOS ANGELES — Automotive Finance Consumer Division and Nowcom Corp. announced today that they will soon begin providing dealers access to new lender opportunities via XpressCredit. This lending platform will be made available through their fully integrated dealer management system called ... [Read More]

Key AutoFinance Launches New Floor-Planning Program

Nick Zulovich
ALEXANDRIA, Va. — To help its members, the American International Auto Dealers Association's affinity partner, Key AutoFinance, has introduced Key Inventory Management. The program is a Web-based solution designed to help dealers take greater control of the management of floor plan ... [Read More]

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