Vehicle Finance

The New LenderOutlook: A Better Way to Lend More, Sell More.

The New LenderOutlook: A Better Way to Lend More, Sell More.

The subprime vehicle loan market is dynamic. It has to adapt to multiple changes from a flush of off-lease vehicles hitting the market to changes in how people’s credit ratings are scored to reaching out to underbanked consumers. These factors affect your risk when lending. You need reliable technology to help you manage collateral so you can lend with confidence and sell more vehicles.

State of the Market

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Application SoftwareVehicle Finance

What Automatic Crash Notifications Can Do For Vehicle Finance

What Automatic Crash Notifications Can Do For Vehicle Finance

There are benefits for insurance and vehicle finance companies to be notified immediately after a collision occurs. Both have vested interest in the vehicle for claims and collateral value. There is also the desire to help the owner get back into a vehicle, especially if the vehicle is declared a total loss. It typically takes an average of five days between the incident and the reporting of it to the insurer. Now there is a solution to speed up the process, add revenue and strengthen relationships with customers.

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Application SoftwareValue Added ServicesVehicle Finance

4 Thoughts on Growing Your Customer Loan Retention

4 Thoughts on Growing Your Customer Loan Retention

Springtime is a good time to refresh your loan portfolio and find ways to nurture sales from current or recent customers. Typically, it is cheaper to hold onto them than to woo a new one to your lot. So what else can you do to strengthen your relationship?

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Application SoftwareVehicle Finance

Vehicle Loans Can Be Quick and Easy for You and Your Borrower

Vehicle Loans Can Be Quick and Easy for You and Your Borrower

According to the 2015 Pew Charitable Trust’s Auto Title Loan Report, two million Americans use title loans annually. Payday loans, pawn lending, or credit card advances are other options when a consumer needs money fast. These unfortunate situations happen – unemployment, unexpected repair, medical bills and more. For lenders, the worry comes from loan defaults or lost collateral. Adding a GPS tracking device can provide a layer of security without slowing down the loan process.

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Application SoftwareVehicle Finance

Telematics Can Secure Your Motorcycle Financing Too

Telematics Can Secure Your Motorcycle Financing Too

The used vehicle finance industry is typically focused on cars and trucks; however, if a dealer is looking to expand her portfolio, motorcycles might be a good choice. Manufacturers are designing and producing lighter bikes for city use in order to appeal to a younger demographic, per Autos CheatSheet®. And this is where the opportunity lies for vehicle finance. Yet, perhaps you are hesitant about adding this mode of transportation to your portfolio because motorcycles don’t typically have telematics options – until now.

U.S. Motorcycle Market

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Application SoftwareVehicle Finance

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