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Recapping credit scores & other trends in auto finance with Shams Blanc of FICO
Shams Blanc, head of auto scores at FICO, made another appearance on the Auto Remarketing Podcast to elaborate more about the fall edition of the FICO Score Credit Insights report. Along with recapping what’s going on in auto finance, Blanc ... Listen Here
SPONSORED EPISODE: Greenville Auto Auction Celebrates 16 Years—A look back and a look ahead
On this sponsored episode of the Auto Remarketing Podcast, Bill Zadeits visits with Billy Willis and Kevin Stallings of Greenville Auto Auction. The auction celebrates 16 years in early September, and the guys talk about the history of the sale, ... Listen Here
Wide-ranging car-business conversation with Lotlinx chairman and CEO Len Short
Lotlinx chairman and CEO Len Short firmly believes car dealers are the most resilient operators in any business. During this episode of the Auto Remarketing Podcast, Short explained why he is anticipating dealers showing that resilience again because it’s needed ... Listen Here

Experts spot negative auto-finance readings not seen in 17 years

SubPrime Auto Finance News Staff
For the first time in the history of Used Car Week, the workshops and panel discussions focused on repossessions were some of the highest-attended portions of the entire event, which unfolded earlier this month. In some instances, demand for repo ... [Read More]

CFPB hits Toyota Motor Credit with $60M penalty for refund & credit reporting misconduct

toyota store
SubPrime Auto Finance News Staff
The Consumer Financial Protection Bureau (CFPB) made serious allegations against Toyota Motor Credit Corp., and ordered the captive on Monday to pay $60 million in consumer redress and penalties. The bureau said Toyota Motor Credit received these penalties for operating ... [Read More]

Tekion & Service Payment Plan partner to boost dealer success in F&I

SubPrime Auto Finance News Staff
Tekion wants to make F&I easier for dealerships to complete while generating more potential profit. This week, the provider of a cloud-native platform serving the entire automotive ecosystem, announced a partnership with Service Payment Plan (SPP), a provider of 0% ... [Read More]

Allied Solutions’ latest partnership to help credit unions in capital markets

SubPrime Auto Finance News Staff
This week, Allied Solutions further expanded its industry relationships and portfolio of growth-focused solutions for credit unions. The latest partnership is with Rhyze Solutions, a newly formed credit union service organization (CUSO) to support lending and capital market operations. Allied ... [Read More]

COMMENTARY: 34% of dealers still lost concerning certain key components of Safeguards Rule compliance

BHPH evolution: Key to success in a recovering auto industry
Ken Hill, 700Credit
Over the last few years there has been plenty of chatter about the new Safeguards Rule that went into effect earlier this year. As has been widely reported, the law requires auto dealerships to obtain clear and informed consent from ... [Read More]

10 operators to serve on new NextGear Dealer Advisory Board

NETSOL Technologies picks first chief marketing officer
SubPrime Auto Finance News Staff
NextGear Capital wants to make sure the dealer voice is heard when it comes to floor-planning and other company activities. Last week, building on the success of its inaugural DRIVE Dealer Advisory Board (DRIVE) launched in 2021, NextGear announced members ... [Read More]

KPA and Reynolds forge partnership to boost F&I compliance

compliance
SubPrime Auto Finance News Staff
KPA and Reynolds and Reynolds now are working together to help dealerships comply with state and federal financing requirements. On Wednesday, the companies announced a strategic partnership to provide dealerships greater access to Reynolds’ LAW F&I Libraries across all 50 ... [Read More]

Credit access improves again, but approvals drop near lowest point in 3 years

SubPrime Auto Finance News Staff
As its experts shared updated trends associated with new-vehicle prices, Cox Automotive also posted its Dealertrack Auto Credit Availability Index for October. Perhaps helping if a non-prime consumer aspires to secure a new vehicle, analysts discovered access to auto credit ... [Read More]

TransUnion spots continued softening of subprime originations as delinquencies jump

SubPrime Auto Finance News Staff
The subprime space is continuing to lose momentum as 2023 reaches the short rows of potential originations for dealerships and finance companies. What is gaining steam, however, are delinquencies. For the second consecutive quarter, originations softened across most risk tiers, ... [Read More]

Resolvion partners with AKUVO to boost repossession efficiency

LCT teams with AKUVO to streamline loan refunds
SubPrime Auto Finance News Staff
Resolvion, a provider of national repossession management, skip-tracing, remarketing, license plate recognition, and heavy equipment and specialty recovery, announced on Monday a partnership with AKUVO. As an integrated repossession service provider, the partnership will provide Resolvion the opportunity to serve ... [Read More]

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