AuSM Staff

MUSA Auto Finance said its platform now offers capability that separates it from any captive or other provider specializing in leasing of new and pre-owned vehicles, especially for customers who already have strong credit backgrounds. MUSA Auto Finance announced this week the launch of automated decisioning for... Read More

Uber exits vehicle-leasing business

Nick Zulovich, Staff Writer

AuSM confirmed on Wednesday that Uber is out of the vehicle-leasing business. Based in part by what reportedly has been heavy residual value losses, an Uber spokesperson said the Uber will cease Xchange Leasing, the platform where drivers could lease vehicles and maintain monthly payments by serving as a... Read More

IFS president Janssen to retire Jan. 1

Joe Overby, Senior Editor

Innovative Funding Services president Tim Janssen, who founded the company in 2007, is retiring from his post on Jan. 1, the company said in a news release.  Chad Shoemaker, who is currently chief executive officer of IFS, will add the role of president to his title. Janssen managed the role of vice president of... Read More

EFG commentary: Another turn of the screw by the CFPB

Steve Roennau , EFG Companies

On July 10, the Consumer Financial Protection Bureau (CFPB) issued a rule banning companies from denying arbitration to groups of people. And, if everything passes, the law should go into effect in September. For auto retail dealers and lenders, this change is just one more turn of the screw clamping down on the ability to... Read More

AuSM Staff

For dealers who still might be a bit apprehensive about buying vehicles online, Automotive Finance Corp. and TradeRev rolled out a new incentive. AFC and TradeRev on Wednesday announced what they called an “unprecedented” promotion aimed at encouraging dealers to “go digital.” The promotion... Read More

Joe Overby, Senior Editor

After 35 years with the automaker, Linda Silverstein — Ford’s general manager of remarketing and rental operations — is retiring. A pillar of the used-car industry, Sept. 29 is the last day at Ford for Silverstein. She has led the automaker’s remarketing since October 2002 and headed its rental... Read More

Podcast: John Giamalvo of Equifax

AuSM Staff

Nick is back to handle hosting duties as this episode features John Giamalvo, the vice president of dealer services at Equifax. Their conversation touches on how dealers are enhancing their financing processes both before and after vehicle delivery. Check out the conversation below. Download and subscribe to... Read More

AuSM Staff

Lease transfer approvals in August nearly hit what Swapalease.com classifies as “healthy.” The site reported on Wednesday that vehicle lease transfer credit applicants registered a 68.3 percent approval rate for August, just shy of that “healthy” mark that Swapalease.com pegs at 70... Read More

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