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Increased incentives helped captives take the lead, with 58% of new financing.
https://www.autodealertodaymagazine.com/372178/captives-regain-total-market-share-while-financing-remains-prime-in-q2
Deal designed to offer income, ID verification services to lenders via AI-powered platform that allows them to make faster decisions, reduce risk.
https://www.autodealertodaymagazine.com/371990/inovatec-signs-partnership-agreement-with-verifast
As artificial intelligence enters auto lending, J.D. Power finds personal lender contact still much preferred
https://www.autodealertodaymagazine.com/371757/despite-ai-dealers-still-favor-face-to-face-with-lenders
Hits 2 ½-year low. Subprime, negative-equity shares fall.
https://www.autodealertodaymagazine.com/370054/car-loan-credit-tightens-in-january
Expands portfolio by adding F&I products and services for automotive, RV, powersports, marine, commercial trucking markets.
https://www.autodealertodaymagazine.com/369924/reynolds-acquires-fi-product-service-provider
Also simplifies web address in effort to add to its ease of use.
https://www.autodealertodaymagazine.com/369734/smart-payment-plan-now-smartpay
Partners with Legacy Auto Credit in Ontario for app-based subscription-to-ownership program.
https://www.autodealertodaymagazine.com/369595/driveitaway-holdings-partnership-launches-subscriptions-in-canada
E-signature and e-contracting technologies are more widespread, but digital e-vault tools for securitization and collateralization are focus for 2023
https://www.autodealertodaymagazine.com/369547/auto-finance-pros-progressing-on-digital-adoption
Report shows those 60 days or more overdue reached 10-year high.
https://www.autodealertodaymagazine.com/369365/car-loan-delinquencies-up
Fed announces fourth consecutive ‘jumbo’ increase in effort to slow inflation.
https://www.autodealertodaymagazine.com/369296/another-interest-rate-hike-looms-large