Car finance

Georg Bauer Joins Scott Painter in Launching NextCar (NXCR) and Driving the Next Generation of Vehicle Subscriptions

Retrieved on: 
Wednesday, January 27, 2021
Contract law, Vehicle subscription, Car costs, Vehicle leasing, Car finance, Economy, Articles, Law

Bauer is also credited as being one of the early designers and pioneers of vehicle leasing, which was the first mainstream alternative to a traditional car loan.

Key Points: 
  • Bauer is also credited as being one of the early designers and pioneers of vehicle leasing, which was the first mainstream alternative to a traditional car loan.
  • Commenting on the changes happening in the highly dynamic automotive space, Bauer explained, "vehicle subscriptions are the new frontier for automotive finance solutions.
  • NextCar Holding Company (NextCar/NXCR) is on a mission to create a platform that enables vehicle subscriptions to scale profitably.
  • NextCar will power car buying subscriptions for the used vehicle sector, as well as the burgeoning green and electric vehicle sector.

Worldwide Industry for Car Finance to 2027 - Untapped Potential of Emerging Economies

Retrieved on: 
Tuesday, December 29, 2020
Personal finance, Money, Economy, Credit, Automotive industry, Car finance, Credit score, Finance, Financial market, Credit history, Mortgage underwriting in the United States, Credit analysis

Car or automobile finance is a sum of money borrowed by consumers to purchase a car.

Key Points: 
  • Car or automobile finance is a sum of money borrowed by consumers to purchase a car.
  • In addition, car finance depends on various factors such as income, credit score, and credit history of the borrower.
  • Banks, original equipment manufacturers (captive finance), financial institution, and credit unions are some of the major distribution channel providing car finance solutions.
  • The quantitative analysis of the global car finance market from 2020 to 2027 is provided to determine the market potential.

Global Car Finance Market (2020 to 2027) - by Distribution Channel, Vehicle Age, Application, and Purpose - ResearchAndMarkets.com

Retrieved on: 
Friday, December 18, 2020
General Automotive, Professional services, Automotive, Finance, Mathematical finance, Automotive industry, Car finance, Finance, Quantitative analysis, Financial market, Transport, Economy, Academic disciplines, Outline of finance

The "Car Finance Market by Distribution Channel, Vehicle Age, Application, and Purpose: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Car Finance Market by Distribution Channel, Vehicle Age, Application, and Purpose: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
  • Banks, original equipment manufacturers (captive finance), financial institution, and credit unions are some of the major distribution channel providing car finance solutions.
  • The car finance market is segmented on the basis of distribution channel, vehicles age, application, purpose, and region.
  • The quantitative analysis of the global car finance market from 2020 to 2027 is provided to determine the market potential.

Pagaya Announces Expansion into Auto Loans

Retrieved on: 
Tuesday, December 8, 2020
Professional services, Data management, Automotive, General Automotive, Technology, Finance, Banking, Automotive industry, Car finance, Loans, Corporate finance, Credit

Pagaya , a financial technology company, publicly announced the expansion of its consumer credit offering into auto loans, with hundreds of millions of dollars already invested in the space and multiple lending partners, including Flagship Credit Acceptance and Foursight Capital, both leading providers of auto finance solutions.

Key Points: 
  • Pagaya , a financial technology company, publicly announced the expansion of its consumer credit offering into auto loans, with hundreds of millions of dollars already invested in the space and multiple lending partners, including Flagship Credit Acceptance and Foursight Capital, both leading providers of auto finance solutions.
  • Led by Pagayas new General Manager of Auto Finance, Robert McDonald , the expansion comes at a time when American consumers rely on their cars more than ever and are purchasing new and used vehicles in droves.
  • This means that auto manufacturers and auto dealers will be able to get more cars on the road, Pagayas lending partners will be able to better monetize their marketing spend, and more consumers will have access to better-priced loans, said McDonald.
  • Pagaya is a financial technology company reshaping asset management using machine learning and big data analytics to manage institutional money.

Dealership-Based Auto Finance Faces Permanent Challenge as Digital and Direct Financing Options Increase During Pandemic, J.D. Power Finds

Retrieved on: 
Thursday, November 12, 2020
Retail, Data management, Technology, Finance, Banking, Professional services, Women, MEN, General Automotive, Other Technology, Specialty, Automotive, Consumer, Internet, Mobile, Wireless, Automotive industry, Car finance, Loans

Power 2020 U.S. Consumer Financing Satisfaction Study,SM released today, more vehicle buyers than ever have turned to digital channels when it comes to pre-transaction research and lining up financing options for a new vehicle.

Key Points: 
  • Power 2020 U.S. Consumer Financing Satisfaction Study,SM released today, more vehicle buyers than ever have turned to digital channels when it comes to pre-transaction research and lining up financing options for a new vehicle.
  • Power 2020 U.S. Consumer Financing Satisfaction Study (Graphic: Business Wire)
    "The pandemic accelerated a trend toward digital auto loan origination that has been developing for some time," said Patrick Roosenberg, director of automotive finance intelligence at J.D.
  • Direct financing gains traction, led by luxury segment: While 85% of auto loan customers still secure their financing through the dealership, more borrowers than ever are pursuing direct financing.
  • A total of 15% of borrowers in this years study secured direct financing, up three percentage points from a year ago.

CarGurus Announces Global Lending Services as New Lending Partner to Its Financing Platform

Retrieved on: 
Tuesday, August 25, 2020
Automotive industry, Car finance, Car dealership

CarGurus launched its online financing capability last year through a partnership with Capital One, and has since added Westlake Financial Services and now GLS as additional auto loan lenders to its financing program.

Key Points: 
  • CarGurus launched its online financing capability last year through a partnership with Capital One, and has since added Westlake Financial Services and now GLS as additional auto loan lenders to its financing program.
  • As a trusted automotive shopping leader to both consumers and dealers, CarGurus is thrilled to welcome GLS as the latest lender to our financing platform, said Tom Caputo, Chief Product Officer at CarGurus.
  • The CarGurus online financing platform not only helps enable shoppers to do so transparently, but also ensures that dealerships both maintain financing flexibility and the ability to offer additional financing options to these down-funnel shoppers.
  • The partnership between CarGurus and GLS will enable eligible CarGurus shoppers to pre-qualify for financing before visiting the dealership.

KBRA Assigns Preliminary Ratings to U.S. Auto Funding Trust 2020-1

Retrieved on: 
Friday, August 7, 2020
Finance, Automotive, General Automotive, Other Retail, Banking, Professional services, Other Automotive, Retail, Other Professional Services, Finance, Money, Subprime mortgage crisis, Financial markets, Credit rating agency, Car finance, Kroll Bond Rating Agency, Subprime lending, Repurchase agreement

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of U.S. Auto Funding Trust 2020-1 (USAUT 2020-1), a $258.77 million auto loan ABS transaction collateralized by a pool of retail automobile contracts, made to subprime obligors and secured by used automobiles.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of U.S. Auto Funding Trust 2020-1 (USAUT 2020-1), a $258.77 million auto loan ABS transaction collateralized by a pool of retail automobile contracts, made to subprime obligors and secured by used automobiles.
  • U.S. Auto is a subprime auto sales and finance company founded in 1992 and headquartered in Duluth, GA.
  • In June 2015, Milestone Partners purchased a majority interest in U.S. Auto from its founders and currently owns 77.8%.
  • For more information on the reviews, see Auto Loan and Auto Lease ABS Securities Maintains Watch Report and U.S. Auto Loan and Auto Lease ABS Securities on Watch Report .

Coast to Coast Motors Provides Zero % APR Financing Rates for Its Customers

Retrieved on: 
Thursday, June 18, 2020
Automotive industry, Economy, Car finance, Loan

HOUSTON, June 18, 2020 /PRNewswire-PRWeb/ -- Coast to Coast Motors, a dealership group with locations in Texas and Oklahoma, is offering a zero APR financing rate to its customers right now.

Key Points: 
  • HOUSTON, June 18, 2020 /PRNewswire-PRWeb/ -- Coast to Coast Motors, a dealership group with locations in Texas and Oklahoma, is offering a zero APR financing rate to its customers right now.
  • This zero % APR financing rate is available with the purchase of a pre-owned vehicle at the dealership and a 36-month car loan.
  • The dealership offers online tools for customers to get credit approval and see if they qualify for the zero % APR financing offer.
  • Contact information for the dealership can be found on its website and customers can contact Coast to Coast Motors with any questions or concerns.

Industry Commentaries: Small Ticket Equipment Leasing and Finance - COVID-19 Update; Auto Loan Re-Finance Podcast

Retrieved on: 
Tuesday, April 14, 2020
Automotive industry, Car finance

The economic disruption caused by the COVID-19 outbreak will weaken the commitment of some multi-line financial institutions to the small ticket equipment leasing and finance sector.This could lead to the spin-off or sale of subsidiaries or portfolios in the wake of the pandemic.

Key Points: 
  • The economic disruption caused by the COVID-19 outbreak will weaken the commitment of some multi-line financial institutions to the small ticket equipment leasing and finance sector.This could lead to the spin-off or sale of subsidiaries or portfolios in the wake of the pandemic.
  • The CARES Act and additional aid will presumably reduce the level of business failures and will help the portfolios of small ticket leasing and finance firms.
  • Colonnade remains confident in the long-term viability of the small ticket equipment leasing and finance industry.
  • Colonnade's auto loan re-finance sector podcast reviews the impact of the pandemic on auto lending and how auto loan re-finance is the bright spot in the auto finance industry that is poised for growth.

Tricolor Secures $30 Million To Expand Platform for High Quality Used Vehicles and Affordable Financing Nationally

Retrieved on: 
Thursday, February 6, 2020
Automotive industry, Marketing strategy, Merchandising, Retail, Car finance, Business economics, Microeconomics, Business

To date, Tricolor has disbursed nearly $1 billion in affordable auto loans throughout California and Texas.

Key Points: 
  • To date, Tricolor has disbursed nearly $1 billion in affordable auto loans throughout California and Texas.
  • With this infusion of funds, the company will rapidly scale its platform and retail network to expand availability for its guaranteed, high quality used vehicles and access to responsible auto financing options for Hispanic customers in new markets.
  • The deck is stacked against financially underserved customers in America when it comes to purchasing and financing a used vehicle, said Tricolor CEO Daniel Chu.
  • We have proven that the right infrastructure and culture make it possible to build a profitable business providing these customers with affordable access to high quality vehicles.