Displaying 1 - 20 of 302 in total
Tricolor’s 10K vehicles could be sold by March
Bankrupt subprime retailer Tricolor’s 10,000 remaining vehicles may be sold by March 2026 if trustee Anne Burns’ motion is approved.Tricolor backup servicer Vervent an...
Flagship sold to investment firm, Prestige halts originations
Last week brought more shakeups in the auto finance industry as lender Flagship Credit Acceptance announced it was finalizing a sale of the company to an investment fi...
Future of CFPB funding questioned
The compliance industry continues to face headwinds as funding for the Consumer Financial Protection Bureau is in jeopardy after the Department of Justice recently rul...
CarMax replaces CEO, EV makers report Q3 growth as car sales mixed
Auto retailers and fintechs mostly reported growth in the third quarter amid mixed October retail sales, flat vehicle values and some layoffs. CarMax named David McCre...
Lenders eye affordability, subprime finance as credit performance weakens
Auto lenders are homing in on key areas of underwriting to manage risk and grow in 2026 as the subprime market continues to face challenges with credit performance and...
Tricolor bankruptcy prompts calls for transparency, portfolio reviews
Investors are seeking more transparency following Tricolor’s Chapter 7 bankruptcy filing last month, which has also prompted several auto lenders to review their books...
Auto Finance Summit 2025 highlights industry strength, challenges
Auto Finance Summit 2025 shed light on how auto lenders are responding to challenges facing the wider market, including credit performance, affordability and evolving ...
Powersports trends, Tricolor bankruptcy latest and preview of Auto Finance Summit 2025
The powersports industry continues to grapple with volatile market conditions including rising prices, falling sales, waning consumer demand and a rapidly changing com...
Tricolor court proceedings begin, fraud investigation confirmed
A federal investigation into subprime auto lender Tricolor Holdings was confirmed as court proceedings began last week. In a court hearing on Oct. 3, Tricolor’s lawye...
Sales, supply, promotions dominate Powersports Finance Summit 2025
Powersports dealers are working closely with manufacturers to balance supply with a decline in sales and worsened consumer confidence, themes that were prevalent durin...
An automotive business expert breaks down the Tricolor bankruptcy
As the Department of Justice investigates the alleged fraudulent claims against Tricolor Auto Acceptance, one expert warns that there may not be enough collateral to s...
Breaking down Tricolor Auto’s collapse
Tricolor Auto Acceptance’s chapter 7 bankruptcy filing on Sept. 10 has led to ratings downgrades for the financier and talks of potentially wider implications for the ...
BHPH dealer Oak Motors’ applications up 30%, approvals fall
Buy here, pay here dealership Oak Motors is slowing approval of credit applications as long-term affordability concerns persists and despite increased volume. Anderso...
Floorplan finance fraud on the rise; CUs lean into auto
As fraudulent activity picks up across the automotive industry, floorplan financiers are also seeing an uptick in dealers disappearing with vehicles or submitting fals...
Proposed CFPB rule change teases win for nonbank lenders
Nonbank auto lenders may soon have a reason to celebrate, following a proposed rule change by the Consumer Financial Protection Bureau to how it defines larger partici...
Podcast: Vehicle repair costs up 43% since 2019, Synchrony says
Amid sustained inflation, more high-tech vehicles in the market and tariff-induced uncertainty, aftermarket repair costs are steadily climbing.Vehicle repair costs are...
Carvana’s sales surge in Q2, Ford Credit, retailers’ results mixed
Auto companies saw mixed results in the second quarter related to sales and finance volume, as Carvana’s originations surged, Ford Credit’s earnings rose and Credit Ac...
Pagaya president speaks to fintech’s lending strategy
Pagaya Technology’s lenders are leaning on the expansion of their dealership networks for growth as credit quality worsens and credit access remains mixed. Credit acce...
Ally, Chase, Wells see auto origination growth in Q2
Ally Financial, Chase Auto and Wells Fargo Auto all reported an increase in auto originations in the second quarter, driven in part by a pull-ahead in car purchases by...
Used EV sales outpace new as Trump bill ends tax credits
President Donald Trump’s One Big Beautiful Bill marks the end of the federal EV tax credits at a time when sales of used EVs and hybrids are ramping up and new EV sale...