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Auto Finance Platform Reaches Goal

Wednesday, 10 January 2018 20:57
Online auto refinancing platform RateGenius has surpassed its 2017 goal of facilitating over $1 billion in auto refinance loans. This equates to over 43,300 loans, and estimated customer savings of $3.9 million each month in 2017.RateGenius now aims for a 10 percent increase.

Carite Completes Credit Facility

Wednesday, 10 January 2018 01:04
Crystal Financial LLC announced the completion of a $45 million senior credit facility for Carite Holdings LLC. Headquartered in Madison Heights, Mich., the company sells and leases previously owned vehicles through its network of owned and partnered Carite locations. Through Brite Financial Services, they provide access to lease financing options for consumers with limited or poor credit history.Proceeds from this facility will be used to refinance existing debt and to fund lease portfolio growth.

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Manufacturers See Strong CPO Sales

Friday, 05 January 2018 00:18
A pair of manufacturers reported increased certified pre-owned sales for 2017.Porsche Approved Certified Pre-Owned vehicle sales in the U.S. were at 2,153 units in December, a 24.6 percent increase over December 2016. For 2017, CPO sales were up 12.5 percent, with 19,104 deliveries.Mazda reported CPO sales of 3,858 vehicles in the month of December, marking an increase of 20.8 percent year-over-year. Full-year sales resulted in a record CPO year for MNAO, posting year-over-year sales growth of 17 percent with 43,730 vehicles sold.

Finance Execs Foresee Tech Disruption

Wednesday, 03 January 2018 20:36
Technological innovation and disruption is poised to greatly influence the investment priorities and business plans of financial executives, according to the 2017 Treasury Management survey conducted by TD Bank. For 2018 and beyond, finance professionals cite process automation (31 percent), distributed ledger/blockchain (23 percent) and artificial intelligence/robotics (15 percent) as the top disruptive technologies that will have the largest impact on treasury functions and payments over the next two to three years.  The survey collected insight from 340 corporate treasurers and other finance professionals at the 2017 Association for Financial Professionals conference. Disruptive technologies are top of mind for these individuals, who cited that they are preparing for changes in the treasury management industry by:Leveraging solutions from fintech providers – 31 percent Developing in-house technology to get a leg up on competitors – 23 percent Hiring more tech savvy employees to keep up with the trends – 15 percent Although most companies are taking proactive steps to embrace technology in their finance capabilities, another 29 percent of respondents said that they are taking a "wait and see" approach. While more than a quarter of executives reported taking a more cautious road, 10 percent of their peers indicated they will invest in one of the more experimental technologies: artificial intelligence and robotics.

 

Auctions Across America Fall 2017