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2 days ago · Auto Finance News provides the latest updates and insights on the auto finance industry, including fraud cases, financing trends, and program developments.
Santander Consumer USA’s Laney joins Auto Finance Summit East …
Dec 16, 2024 · The Auto Finance News team is pleased to announce that Erik Laney, chief financial officer at Santander Consumer USA, will join a one-on-one fireside chat on May 13 during Auto Finance Summit East 2025, returning to Nashville May 12-14.. Laney will discuss the financier’s strategy execution, tech advancements and expectations for a year marked by presidential administration changes and ...
Wells Fargo enters co-branded agreement with Volkswagen …
Oct 11, 2024 · Wells Fargo and Volkswagen Financial Services entered a multiyear, co-branded agreement in the third quarter. “In the first half of 2025, we will be the preferred purchase financing provider for Volkswagen and Audi brands in the United States,” Wells Fargo Chief Executive Charlie Scharf said during the bank’s Q3 earnings call today.
Driving innovation: Top 5 tech stories of 2024
Dec 30, 2024 · The automotive industry focused on advancing technology and leaned on artificial intelligence and machine learning to enhance innovation and efficiency in 2024. Enhancements spanned from speeding up funding to automating loan decisions to streamlining business operations, efforts that will likely ...
Inside OneMain’s growth, Foursight integration with CEO Douglas …
Oct 2, 2024 · While each of OneMain Financial’s three, nonprime-focused product lines offers its own growth potential, the opportunity to cross-sell and leverage expenses will improve as the company builds out its auto business, President and Chief Executive Douglas Shulman told investors at the Barclays Global Financial Services Conference last month.
Lendbuzz issues first 2025 securitization, eyes growth
5 days ago · AI-based auto lender Lendbuzz this week issued its first asset-backed securitization deal of 2025 as the financier looks to diversify its funding sources and prepare for continued origination growth. Boston-based Lendbuzz came to market with a $261.9 million deal backed by auto loans made to ...
Share of 1- to 5-year-old used cars under $20K climbs to 20%
Jan 7, 2025 · Declining used-vehicle prices contributed to a rise in the volume of 1- to 5-year-old models priced below $20,000 at the end of 2024, boosting affordability. Vehicles priced below $20,000 comprised 20% of the 1- to 5-year-old used market year to date through November 2024, a three-percentage point ...
TD Bank to pull back on auto lending AFN
Oct 16, 2024 · TD Auto Finance will pull back on commercial auto lending and other less profitable portfolios after being hit last week with $3.1 billion in fines related to money laundering charges from the U.S. Department of Justice and the Financial Crimes Enforcement Network.
Robust Q4 drives 2% YoY sales growth for 2024 - Auto Finance News
Jan 6, 2025 · 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)
Jan 7, 2025 · 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 ...