Weekly Wrap: Auto lenders get creative
from Auto Finance News Podcast Hosted by Auto Finance News
Auto lenders continue to experience ups and downs through the COVID-19 pandemic, and it’s becoming clearer by the week what changes are in store for the industry. Still, industry players have found creative ways to navigate the pandemic.
Embed this episode
What this episode covers
Auto lenders continue to experience ups and downs through the COVID-19 pandemic, and it’s becoming clearer by the week what changes are in store for the industry. For the subprime credit tier, new-vehicle financing has fallen to an eight-year low in the second quarter as a similar trend continues for deep subprime loans. Still, industry players have found creative ways to navigate the pandemic. Platinum Auto Finance was able to quickly transition to a work-from-home structure due to the Florida-based lender’s disaster plan for hurricanes, and Pentagon Federal Credit Union forged a partnership with the fintech CRIF Select to expand its indirect auto lending platform.
No transcript yet.