SubPrime Auto Finance News Staff

The nation’s second largest federal credit union is taking servicemembers out to the ballgame. This week, PenFed Credit Union announced it has signed a unique and expansive sponsorship deal with the Washington Nationals Major League Baseball team. The new three-year agreement will expand upon a previous... Read More

SubPrime Auto Finance News Staff

After collaborating previously at Exeter Finance and AmeriCredit, auto finance industry veterans Mark Floyd and Kenneth Wardle are teaming up again; this time to leverage what’s happening online when consumers search for financing. According to a news release sent to SubPrime Auto Finance News this week, Floyd and... Read More

Nick Zulovich, Senior Editor

As the subprime auto finance company’s field representatives are generating more business from their active dealer network, state and federal regulators are keeping the compliance team at Credit Acceptance busy, too. The latest filing to the Securities and Exchange Commission showed Credit Acceptance has... Read More

2 reasons why auto finance stabilized in Q1

Nick Zulovich, Senior Editor

Brian Landau, senior vice president and automotive business leader at TransUnion, again used a single word to summarize the latest quarterly auto finance information he and his team assembled. Landau decided the first-quarter moniker should be stabilization. Landau explained his thinking to SubPrime Auto Finance News as... Read More

SubPrime Auto Finance News Staff

As the number of credit union members its platform now can reach swelled nearly 60 percent year-over-year, GrooveCar adjusted its executive team with additional resources to support its credit union partners. Three new management positions highlight GrooveCar’s increased focus on growing credit union’s auto... Read More

SubPrime Auto Finance News Staff

Despite all the cash being thrown on hoods nowadays, it appears the numbers still tilt to benefit leasing. Swapalease.com recently shared new data that show lease payments would still be more attractive than installment contract payments even after dealers and finance companies instituted more aggressive incentives... Read More

SubPrime Auto Finance News Staff

Ally Financial is continuing to diversify its relationship portfolio. Adding to a parade of developments since the beginning of the year, Ally announced on Thursday that it has signed an agreement with Sonic Automotive. Effective this month, Ally will be the provider of vehicle service contracts (VSCs) and guaranteed... Read More

SubPrime Auto Finance News Staff

Now it just needs President Trump’s signature. Much to the delight of industry leaders, the U.S. House of Representatives voted on Tuesday to repeal the Bureau of Consumer Financial Protection’s controversial 2013 guidance on indirect auto financing. The House approved S.J. Res. 57, which would overturn... Read More