October 19, 2023 at 2:00pm EST
U.S. auto originations are largely trending down – 9.4% YoY decline – according to the TransUnion Q2 Credit Industry Insights Report. The rejection rate for auto loans rose to 14.2% in June 2023 from 9.1% in February of this year according to Federal Reserve.
The problem is being fueled by multiple market developments including vehicle affordability decline, increasing cost of funds, and lenders being cautious amid one of the most aggressive Fed rate hiking cycles.
Doing business with a smaller pool of customers amid rising interest rates puts a spotlight on risk assessment, competitive pricing strategies, profitability, and market share. Do auto lenders need to make strategic and/or technological shifts to adjust to the unpredictable market conditions or simply wait it out?
If you, like many other auto lenders find yourself in this predicament, this webinar is for you. Join Will Ely, Solutions Architect and Sean Johnson, Customer Success Lead, from Earnix – a global leader in pricing analytics and digital decisioning – will share keys to success and answer questions like:
• Is it possible to grow (or stabilize) originations amid rising cost of funds?
• How can lenders retain market share in a highly competitive market?
• Is it feasible to grow loan profitability while maintaining volume?
• What is the best way to manage declining customer loan affordability without exposing yourself to unnecessary risk?
• What tactical and tech stack shifts will offer quick wins?
Business Partner Webinar | How to Retain Market Share Amid Declining Auto Originations
Oct 13, 2023
October 19, 2023 at 2:00pm EST
U.S. auto originations are largely trending down – 9.4% YoY decline – according to the TransUnion Q2 Credit Industry Insights Report. The rejection rate for auto loans rose to 14.2% in June 2023 from 9.1% in February… Read the rest
Rules Not Releases
Oct 12, 2023
Yesterday, the Consumer Financial Protection Bureau (CFPB) issued an advisory on what it calls “junk fees.” AFSA has long been engaged on this issue and has argued that the pejorative term “junk fees,” while sure to get headlines, fundamentally… Read the rest
Ep. 55 | Alternative Data Download w/ Equifax
Oct 12, 2023
In this edition of the AFSA Extra Credit Podcast, we chat with Lena Bourgeois, SVP & General Manager of Automotive & Insurance with Equifax about alternative data. It’s a term that gets thrown around a lot but Lena gives us the download… Read the rest
Business Partner Webinar | Auto Finance Innovation: When To Build, When To Buy?
Oct 09, 2023
Auto Finance Innovation: When To Build, When To Buy?
October 12, 2023 | 2:00 p.m. ET
Continuous digitization is a must in today’s world. But with limited resources, time and budgets, it can be tough to know what path to take. Should you build an… Read the rest
FEATURED BUSINESS PARTNER | GOLDPoint Systems
Oct 01, 2023
The featured Business Partner for the month of October is GOLDPoint Systems
GOLDPoint Systems offers one of the most complete Loan Management Software Systems in the Direct and Indirect market, covering the complete loan life cycle. Our … Read the rest
Do-Nothing Policies Can Do Harm
Sep 27, 2023
The Urban Institute has been doing yeorman’s work providing independent, fact-based analysis on the effects of consumer credit rate caps. Taken together with other independent, academic analysis of rate caps, there is a growing body of… Read the rest
Registration Open for 2024 Vehicle Finance Conference
Sep 27, 2023
It’s time! Register for the 2024 Vehicle Finance Conference & Expo today and enjoy Early Bird Pricing!
What can you expect?
Influential Speakers. Gain insights and inspiration from incredible speakers, including our keynote:… Read the rest
Industry Expertise | Audit-Ready Best Practices for Lenders
Sep 27, 2023
AFSA’s Industry Expertise allows Business Partners to provide thought leadership and best practices information directly with AFSA member companies. For more information about taking part, contact Dan Bucherer.
Audit-Ready Best Practices… Read the rest
AFSA Applauds Bureau CRO Consumer Advisory
Sep 25, 2023
Today, the Consumer Financial Protection Bureau (CFPB) issued an advisory reminding consumers that they have the right to see results from Credit Repair Organizations (CRO) before they pay and, more importantly, that they do not need to … Read the rest
2023 Annual Meeting Breakouts
Sep 21, 2023
The AFSA Annual Meeting is full of great general sessions and breakouts, too. Don’t miss out on two concurrent sets of breakouts Wednesday morning!
Wednesday, October 4th at 10:00 a.m. – 10:45 a.m.
Fraud in the Age of AI
The rapid… Read the rest