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Toyota Seeks Personalization, Transparency With New Lexus Bundled Lease
Courtesy of Kaboompics LAS VEGAS — Personalization and transparency are top priorities in Toyota Finance Services‘ Lexus Complete Lease program, slated to launch in the first...
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General Motors to Shut Down Cadillac Subscription Service by Yearend
General Motors Co. is reportedly hitting the pause button on its vehicle-subscription service, Book by Cadillac after launching nearly two years ago in Los Angeles, Dallas, and New York. A GM spokesman...
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For Toyota Pilot Programs, Focus Moves to Utilization From Ownership [VIDEO]
Courtesy of Pexels Toyota Finance Services has deployed several pilots in ridesharing and car rental services. The company gave specific insight into the findings from two of...
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Regulatory Change Prompts Lenders to Halt Funding to Servicemembers Seeking GAP
© Can Stock Photo / jukree The Department of Defense (DoD) threw a wrench into servicemember compliance that’s causing lenders to stop funding contracts with GAP insurance to military members, lawyers...
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Lingering CFPB Consent Order Restricts 3 Lenders to Lower Dealer Markups
Via Flickr As the industry returns to the standard 200- to 250-basis-point cap on dealer markup, three lenders are bound to old consent orders with lower caps that put them at a competitive...
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Model Validation, Infrastructure Issues Hamper Machine Learning Implementation
Can Stock Photo / 75tiks LAS VEGAS — Lenders are becoming more adept at defining use-cases for machine learning, but infrastructure limitations and model validation are hindering implementation,...
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Multiple Speakers Set to Engage in Performance and Compliance Summit
© Can Stock Photo / kasto Auto Finance News is proud to welcome a full slate of diverse speakers to this year’s Auto Finance Performance & Compliance Summit to be held May 9-10 at the Omni Dallas....
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Captive Finance Overtakes Banks in 2017 Loan Originations
© Can Stock Photo / richardpross Captive finance companies saw an increase in auto loan originations in 2017 compared to last year, beating out most banks, according to a new report from CU Direct and...
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Lenders Are ‘In Limbo’ Amid Potential Changes to CFPB Fair Lending Policies
The battle over how the Consumer Financial Protection Bureau polices discrimination cases has long been one of the most contentious wars waged between the auto finance industry and its regulators....
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Auto Outstandings Hit Record $1.1 Trillion, Despite Slowing Growth, Data Shows
The auto finance market continued its slowdown in 2017, new data released today shows. Yet, despite slipping originations, auto loan and lease outstandings topped $1.1 trillion in 2017 – a record high...
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Toyota Financial Services Made Enhancements to Vendor Platform
Photo by Mike Mozart via Flickr DALLAS — Toyota Financial Services has made changes to its vendor oversight platform following the appointment of Veronica Roman as chief compliance officer of last...
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Toyota to Raise Markup Caps Following Early Termination of CFPB Consent Order...
Photo by Paul David via Flickr Toyota Financial Services was approved for early termination of a 2016 consent order — which alleged the captive’s dealer compensation model resulted in higher interest...
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Toyota to Raise Markup Caps Following Early Termination of CFPB Consent Order
Photo by Paul David via Flickr Toyota Financial Services was approved for early termination of a 2016 consent order — which alleged the captive’s dealer compensation model resulted in higher interest...
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Toyota Financial Moves Swiftly to Raise Dealer Markup Cap
Photo by Paul David via Flickr President Donald Trump signed into law last week legislation that rescinds the Consumer Financial Protection Bureau’s guidance on dealer markup rates, and before the ink...
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Lenders Adapt Vendor Oversight in Wake of Wells Fargo’s $1B Fine
Via Ron Cogswell/ Flicker DALLAS — Lenders have battened down the hatches when it comes to vendor management, in the wake of Wells Fargo Auto’s insurance scandals. Even lenders that don’t issue...
View ArticleSeeking Talent: Toyota’s Challenge to Craft a ‘Candidate-First’ Experience
Before Toyota Financial Services announced its move to Plano, Texas, four years ago, the company averaged a respectably low 5% attrition rate with little turnover year over year. But when the move was...
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Sharpening Decisions: Lenders Have Been Forced to Hone Choices Amid...
When Hyundai Capital America entered the subscription space in April 2017, several OEMs were already offering an all-in-one monthly price for lease payments, maintenance, and insurance. Fast forward a...
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Toyota Financial Taps Insider as Next Chief Executive
Mike Groff, president and chief executive, Toyota Financial Services (right) and his successor Mark Templin (left). A leadership change at Toyota Financial Services will have long-time executive Mark...
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Getaround Poised to Meet Carshare Demand With $300M Investment
© Can Stock Photo / arekmalang Carsharing app Getaround raised $300 million in series D funding today — led by investments from SoftBank and Toyota Motor Corp. — at a time when the sector could get a...
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Toyota Accelerates Ride-Hailing Investments With New Uber Deal
Via Uber News Room Toyota Motor Corp. is investing $500 million in Uber Technologies Inc. as the OEM continues its efforts to become a true competitor in the autonomous vehicle space, the companies...
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