Auto Finance News

Auto Finance News serves as the premier publication for the auto finance sector. Established in 1996, it stands as the top source for news, insights, and analysis related to automotive lending and leasing in the country. Packed with essential data and unique market insights, this subscription service offers a monthly newsletter and a weekly email update, helping subscribers enhance their performance.

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PenFed's refinance applications up 75%

2 days ago | autofinancenews.net | Amanda Harris

By Amanda Harris NASHVILLE, Tenn. - PenFed Credit Union's volume of auto refinance applications is growing as consumers look for ways to mitigate affordability concerns and stay in their vehicles longer. Refinance has grown to between 20% and 25% of PenFed's total direct auto application count "in recent months," up from 15%, Chris Kleczynski, vice president and [...]
SCUSA eyes more OEM, large dealer relationships

2 days ago | autofinancenews.net | Amanda Harris

By Amanda Harris NASHVILLE, Tenn. - Santander Consumer USA is working to grow its third-party financing relationships with large, franchised dealers and manufacturers. Santander Consumer USA (SCUSA) has capital to put to work and is eyeing potential new relationships in the market, Chief Financial Officer Erik Laney said during a fireside chat today at Auto Finance Summit East [...]
Hyundai Capital America takes 'measured' approach to insurance rollout

3 days ago | autofinancenews.net | Amanda Harris

By Amanda Harris Hyundai Capital America is building out its insurance program after rolling out options last month. The captive in April launched car insurance offerings for customers through an agreement with Root, parent company of online insurance provider Root Insurance. Offering insurance aligns with Hyundai Capital America (HCA)'s goal to address affordability concerns and make Hyundai vehicles [...]
3 themes at Auto Finance Summit East

4 days ago | autofinancenews.net | Amanda Harris

NASHVILLE - Changing tariff policies, a pull-ahead in new-vehicle demand in recent months and a potential for worsened credit performance all contribute to the uncertainty underpinning auto lenders' strategies headed into the rest of 2025 and early 2026. When Auto Finance Summit East 2025 kicks off today at JW Mariott in Nashville, Tenn., it will bring together industry leaders, fintechs, auto lenders and dealers to discuss this them and more.
Manheim used-vehicle values up 4.9%

6 days ago | autofinancenews.net | Truth Headlam

By Truth Headlam April wholesale used-vehicle values reached the highest reading in 18 months as consumer confidence reached record low levels and demand drove prices up. The Manheim Used Vehicle Value Index came in at 208.2, up 4.9% year over year and 2.7% month over month, according to Cox Automotive. April marked the highest index reading [...]
Toyota Motor North America US sales rise 10%

1 week ago | autofinancenews.net | Amanda Harris

By Amanda Harris Toyota Motor North America's April U.S. sales increased 10% year over year on a volume basis while fourth-quarter North American sales dipped. Sales in the United States totaled 233,045 vehicles in April, according to data provided by Toyota Motor North America (TMNA) to Auto Finance News. By division, April sales, according to TMNA, were: Up [...]
Lucid, Rivian deliveries rise in first quarter

1 week ago | autofinancenews.net | Truth Headlam

By Truth Headlam Lucid Motors and Rivian Automotive reported an upswing in production in the first quarter but noted the rapidly shifting tariff environment has affected their outlook for the rest of the year. Newark, Calif.-based Lucid produced 2,212 vehicles in Q1, a 28.6% increase year over year, according to the company's earnings release. Deliveries were also up [...]
House bill introduces $2,500 car loan interest tax deduction

1 week ago | autofinancenews.net | Amanda Harris

By Amanda Harris Michigan Republican Bill Huizenga has introduced a bill in the House of Representatives seeking to make auto loan interest tax deductible for American-made cars. It is similar to a bill introduced by Ohio Republican Bernie Moreno) in the Senate on April 1. Huizenga's bill, the Made in America Motors Act, would allow consumers to take [...]
Carvana originations rise 44.1%

1 week ago | autofinancenews.net | Amanda Harris

By Amanda Harris Carvana's originations rose in the first quarter as the company prioritized growth and used-vehicle retail sales increased. Originations totaled $2.7 billion, up 44.1% year over year and 16.8% quarter over quarter, according to an Auto Finance News analysis of the retailer's May 7 Q1 letter to shareholders. "Over the next five to 10 years, we [...]
RumbleOn F&I revenue drops 18% in Q1

1 week ago | autofinancenews.net | Truth Headlam

By Truth Headlam RumbleOn's finance and insurance revenue dropped in the first quarter of 2025 as the company's turnaround remains challenged by consumer sentiment and tariff uncertainty. Finance and insurance (F&I) revenue dropped 18.2% year over year to $21.1 million in RumbleOn's powersports segment, according to the company's earnings release today. The powersports retailer recently shuffled its [...]