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Auto Finance News provides the latest updates and insights on the auto finance industry, including fraud cases, financing trends, and program developments.
From rates to refunds: Preparing for an auto loan refinancing …
2024年11月26日 · As we approach 2025, the auto lending landscape is poised for a significant shift, driven by the Federal Reserve ‘s interest rate reductions in the latter half of 2024. These rate cuts are expected to sow the seeds for a bump in auto loan refinancing activity, presenting both opportunities and challenges for lenders in the coming year.
Westlake using digital refunds to save resources
2023年10月25日 · Westlake Financial has digitized auto loan refund payments to save time and devote more resources to core operations. The lender signed on with corporate payouts platform Onbe to replace its check-based program for auto loan overpayment refunds with a digitally based process, according to a Westlake release. The digital program launched in mid-July has […]
Skyla FCU auto decisioning rate hits 18% in Q4
3 天之前 · Skyla Federal Credit Union’s auto decisioning rate ticked up in the fourth quarter as the lender saw increased demand for auto loans. The Charlotte, N.C.-based credit union’s automated decisioning rate doubled to 18% by the end of Q4 from 9% at the close of Q3, according to Skyla FCU data provided to Auto Finance News.
Aftermarket product chargebacks cut into dealer F&I profit
5 天之前 · Chargebacks related to early cancellations of aftermarket products are squeezing already tight finance and insurance profits for dealers. Back-end profits have returned as a key to dealer profitability, but chargebacks from early cancellations are costly and complicated, Shirley Jones, chief financial officer of Car Pros Automotive …
CPO vehicle sales could drop 1.6% YoY in 2025 - Auto Finance News
2024年12月20日 · Despite a downtick YoY, American Honda projects total CPO vehicle sales across Honda and Acura to rise 5% YoY in 2025, Dan Rodriguez, director of auto remarketing at American Honda Motor Co., told AFN. Year to date through November, Honda and Acura CPO vehicle sales combined sat at 277,520 units, according to the company.
Robust Q4 drives 2% YoY sales growth for 2024 - Auto Finance News
2025年1月6日 · Sales were strong from nearly every auto manufacturer in the fourth quarter, driving up yearend sales numbers. The Seasonally Adjusted Annualized Rate (SAAR) hit 16.5 million units in November 2024, according to data from the Federal Reserve Bank of St. Louis, available in the newest dataset added to Big Wheels.
Auto Finance News projects auto outstandings to rise (Big Wheels)
2025年1月7日 · Auto outstandings are forecasted to gradually tick up after the first quarter of 2025 after remaining flat at the end of 2024, Auto Finance News finds. Outstandings came in at $1.57 trillion in the third quarter of 2024, up 0.9% year over year and 0.3% quarter over quarter, according to Federal ...
Chase Auto’s Wims Morris takes over as CEO
2024年12月19日 · Chase Auto’s Leslie Wims Morris has taken over as chief executive and Peter Muriungi leads JPMorgan Chase’s Connected Commerce business.
Fraud exposure expected to reach $8.5B in 2025 - Auto Finance …
2024年12月24日 · The auto industry is likely to face increased fraud exposure in 2025 as lenders move into a more competitive market. Auto finance fraud exposure is nearing $8 billion in 2024, a 1.3% year-over-year increase from $7.9 billion in 2023, Frank McKenna, chief fraud strategist at risk management platform Point Predictive, told Auto Finance News.