Auto Finance News provides the latest updates and insights on the auto finance industry, including fraud cases, financing trends, and program developments.

Dec 27, 2024 · The powersports industry is gearing up for an improved retail environment in 2025 following a year of weakened consumer sentiment and weak sales. Sales declines reported in nearly every month this year have led to increased inventory levels and promotions. Lenders and manufacturers have been ...

Nov 26, 2024 · 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.

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 ...

Aug 19, 2021 · SoftBank-backed Fair has terminated its leasing program and is pivoting its operational strategy to be more focused on its “core DNA” as a product and technology company as it creates a digital automotive marketplace. The former used-car leasing app stopped originating leases about three to four months ago, Chief Executive Brad Stewart told …

Sep 16, 2011 · Consumer Portfolio Services completed the sale to purchase Fireside Bank’s $237 million loan portfolio this week from parent company Kemper Corp. Fireside, which exited the auto business in March 2009, will retain $475 million of previously charged-off loans. Irvine, Calif.-based subprime lender CPS manages a $1.9 billion portfolio, which consists of …

Since 2019, Auto Finance News each year selects an auto finance executive to profile in the December issue of its magazine for notable contributions to the industry during the calendar year.We also highlight several Executives to Watch for the year ahead. The Auto Finance Executive of the Year is chosen based on nominations by members of the industry and the senior editorial team at Auto ...

Apr 3, 2017 · Ally Financial Inc. today launched the new branding for its multi-lender, digital-financing auto marketplace, called Clearlane, the company announced in a press release. Clearlane is the new name for the platform formerly known as BlueYield, which Ally acquired in August. Upon launch, Clearlane will still serve largely the same core functions as before — refinancing and […]

Mar 25, 2009 · After 50 years in auto finance, Fireside Bank is shutting its doors. Parent company Unitrin Inc., a Chicago-based property and casualty insurer, announced yesterday that its subprime auto lending subsidiary had stopped originating loans. Fireside, which employed 730 people at yearend 2008, has a loan portfolio in excess of $1 billion, making it one of […]

Oct 6, 2021 · Kawasaki has announced incentive programs available through December despite the ongoing inventory crunch that continues to impact the powersports industry. Citi Retail Services, Sheffield Financial and Synchrony Bank are offering annual percentage rates (APR) as low as 0% for 12 months for qualified cardholders, 4.95% APR for …