As delinquencies rise and margins tighten, leading auto lenders use AI agents to cut collections and servicing costs without compromising...
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Dealertrack Credit Availability Index drops to lowest point in 2 years
Thursday, May. 11, 2023, 11:15 AM
SubPrime Auto Finance News Staff
Three ingredients that analysts put in the headwind category had more impact than the trio of trends in the helpful category, resulting in access to auto finance credit tightening in April to the lowest point in more than two years. ... [Read More]
Solutions by Text announces 3 new hires & 1 executive promotion
Wednesday, May. 10, 2023, 11:57 AM
SubPrime Auto Finance News Staff
Last week, Solutions by Text enhanced its leadership team with three new senior level hires and a promotion. The compliance-first provider of enterprise text messaging and payments solutions focused on consumer financial services appointed Danielle Repetti as chief revenue officer, ... [Read More]
Resource Hub
Best Practices, Ideas, and Tools for Business
Out-of-State Titling: 12 Steps Every Title Clerk Should Follow (The Easy Way)
Out-of-state titling isn’t easy. With every state having different DMV requirements, document packets, and deadlines, it’s easy for mistakes to...
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Free Guide: How Smart Dealers Can Profit from Customer Car Insurance
Turn Customer Auto Insurance into Dealership Profit If you're not profiting from auto insurance in your dealership, now’s the time...
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Go In-House With Your Photos
Your Photo Vendor Didn’t Show Up Again? Let’s Fix That. Stop relying on vendors and start owning your inventory. This...
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The Auto Dealer’s Complete Checklist for Evaluating AI
The Auto Dealer’s Complete Checklist for Evaluating AI highlights key questions dealership leaders should ask technology partners during the selection...
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Dealer Guide: Selecting the Right Auto Logistics Partner
In retail automotive, your transport provider isn’t just moving cars — they’re moving your business forward. Every delayed delivery, damaged...
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Case Management Made Easy: Harnessing the Power of Technology
Lenders are grappling with record-high automotive loan delinquencies, all while navigating budget constraints, staffing shortages and more. To overcome these...
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PODCAST: Repossessions now highlighted in academia
Wednesday, May. 10, 2023, 11:56 AM
SubPrime Auto Finance News Staff
What’s sometimes considered to be a dangerous task of repossessing vehicles now has been highlighted in what some might view as the high-brow world of academia. In this episode of the Auto Remarketing Podcast, International Recovery Systems resident Jeremy Cross ... [Read More]
McGlinchey Stafford adds to Calif.-based enterprise litigation & investigations group
Wednesday, May. 10, 2023, 11:51 AM
SubPrime Auto Finance News Staff
This week, McGlinchey Stafford reinforced its enterprise litigation and investigations group in the firm’s Irvine, Calif., office. Joining the firm as members are attorneys Kere Tickner and Michelle McCliman with the pair being supported by paralegal Kirsten Zell and legal ... [Read More]
Subprime softens even more in new-car world
Monday, May. 8, 2023, 04:59 PM
SubPrime Auto Finance News Staff
Dealerships and auto finance companies already were not completing many deliveries and installment contracts for new vehicles with consumers who fell into the subprime and deep subprime credit tiers. Now following the significant jump in interest rates, Cox Automotive pinpointed ... [Read More]
Sound Credit Union now leverages Open Lending to book nearly $3M in paper monthly
Monday, May. 8, 2023, 11:28 AM
SubPrime Auto Finance News Staff
Last week, Open Lending Corp. released the results of a case study that shows how Sound Credit Union grew its direct and indirect automotive finance volume and yield with Lenders Protection. Officials said Sound Credit Union implemented Lenders Protection in ... [Read More]
KBRA promotes 2 executives within structured finance business
Monday, May. 8, 2023, 11:27 AM
SubPrime Auto Finance News Staff
KBRA announced multiple personnel moves on Monday. The ratings agency and observer of the securitizations market for automotive and other industry segments said Rosemary Kelley has been named head of structured finance business development. In this newly created role, the ... [Read More]
FTC goes to Congress seeking additional $160M in annual funding
Thursday, May. 4, 2023, 04:01 PM
SubPrime Auto Finance News Staff
The Federal Trade Commission (FTC) wants a larger operating budget and more personnel, and chair Lina Khan made her case last week during a hearing hosted by the Subcommittee on Financial Services and General Government that’s part of U.S. House ... [Read More]
Gauging auto-finance & consumer impact after Fed’s 10th straight interest rate rise
Thursday, May. 4, 2023, 12:03 PM
Nick Zulovich, Senior Editor
From buying cars to happy hour drinks, inflation, interest rates and a turbulent economy are continuing to leave negative ramifications. And the Federal Reserve just pushed interest rates up another 25 basis points on Wednesday. “All bets are off if ... [Read More]
PODCAST: Safety advice not just for repossession agents
Wednesday, May. 3, 2023, 11:24 AM
SubPrime Auto Finance News Staff
Todd Case shared some prudent advice during this episode of the Auto Remarketing Podcast about being aware of your surroundings that can help not only fellow repossession agents during assignments, but anyone who leaves home. Case spent more than a ... [Read More]
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