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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
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

On the Road Lending gains $500K in capital from Tolleson Wealth Management

man-driving
SubPrime Auto Finance News Staff
On the Road Lending now has more financial horsepower. The nonprofit organization that launched in Dallas in 2013 said on Wednesday that it received $500,000 in capital from Tolleson Private Bank to deepen its successful initiative across underserved communities throughout ... [Read More]

NextGear gives $50K to fund STEM lab at Indianapolis elementary school

SubPrime Auto Finance News Staff
NextGear Capital showed it has a great interest in science, too, not just the automotive financial world. The floorplan provider that focuses on independent dealerships, in collaboration with Cox Enterprises, recently transformed an Indianapolis Public Schools (IPS) classroom into the ... [Read More]

Study: 61% of consumers still live paycheck to paycheck

paying bills
SubPrime Auto Finance News Staff
With Gen Z becoming a growing part of the segment, findings surfaced this week from the 25th edition of the New Reality Check: Paycheck-To-Paycheck research series orchestrated by LendingClub Corp. in partnership with PYMNTS. The research showed that 61% of ... [Read More]

Experian notices contract terms continue to shorten

SubPrime Auto Finance News Staff
Experian’s newest State of the Automotive Finance Market Report showed average contract terms continued to decrease. Amid rising interest rates, Experian reported on Thursday consumers are continuing to opt for shorter terms based on findings from the second quarter. However, ... [Read More]

Economists see more interest-rate rises ahead

SubPrime Auto Finance News Staff
At least three economists anticipate the Federal Reserve pushing interest rates higher after chairman Jerome Powell made one of his most anticipated speeches of the year last week. The Fed’s annual gathering in Jackson Hole, Wyo., was the backdrop on ... [Read More]

TextUs study reinforces how much consumers prefer text messaging

Why auto finance is lagging in digital sphere
SubPrime Auto Finance News Staff
If you already suspect many of the contract holders in your auto finance portfolio prefer to be contacted via text messaging, this research might reinforce your thinking. A recent study conducted by TextUs and Benenson Strategy Group surveyed smartphone users ... [Read More]

CFPB roundup: Proposed settlement with credit repair firm totals $2.7B

CFPB files lawsuit against US Auto Sales servicer
SubPrime Auto Finance News Staff
Among a series of activities in recent days, the Consumer Financial Protection Bureau entered a proposed settlement on Monday with what the regulator called “a ring of corporate entities” operating some of the largest credit repair brands in the country, ... [Read More]

9 industry associations offer suggestions as FCC crafts call-blocking regulation

man-on-phone
SubPrime Auto Finance News Staff
Nine industry associations recently sent a letter to the Federal Communications Commission (FCC), pushing back against the regulator’s plan involving call blocking and offering suggestions so financial institutions can still contact their customers. The associations responded because the FCC wants ... [Read More]

Fitch sees subprime ABS deterioration abating, predicts ‘mild’ recession

SubPrime Auto Finance News Staff
A few days after S&P Global Ratings shared its perspectives about how auto securitizations are performing, Fitch Ratings offered its assessment, too, focusing on the subprime sector. Analysts indicated Wednesday that subprime auto ABS loan performance deterioration has recently moderated ... [Read More]

Highlights of 2023 Non-Prime Automotive Financing Survey

Nick Zulovich, Senior Editor
A quartet of industry executives took turns describing data contained in nearly 20 slides highlighting some of the top trends from 2023 Non-Prime Automotive Financing Survey that featured members of the National Automotive Finance Association and the American Financial Services ... [Read More]

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