The National Automotive Finance Association (NAF) held its annual Non-Prime Auto Financing Conference last week in Plano, Texas. This was a great opportunity for subprime lenders to network, share best practices, get updated on industry trends and learn about new innovations in our space. I spoke to many lenders, agents
Kotie’s Cars is a Buy Here Pay Here dealer in Waco, Texas, that offers in-house financing. Kotie’s uses traditional GPS trackers in their vehicles – which work well until they don’t, either due to a problem or because someone disables them. David from Kotie’s Cars had a recent situation in
DRN and MVTRAC were happy to be part of Used Car Week (UCW) by Cherokee Media Group in November. From moderating sessions, facilitating breakouts and hosting special events, we had a productive four days in Las Vegas. UCW continues to be the premiere gathering of leaders from across the used
You may have heard that most telecom companies will switch to 4G (or even 5G) networks in 2022. This means that existing 3G networks will shut down over the next 12 months. Why is this important – especially for Buy Here Pay Here lenders? First, let’s define exactly what all
License Plate Recognition (LPR) and DRNsights – DRN’s proprietary analytics platform – offers Lenders a powerful tool that can be useful at all points of the loan process. DRNsights uniquely combines billions of LPR records with patented analytics to build full vehicle stories. These can help lenders make informed risk
The National Independent Auto Dealers Association (NIADA) hosted its annual Convention & Expo in August. This convention gathers industry experts to share insights, trends, resources and best practices with independent auto dealership owners of all types, including franchise, independents and Buy Here Pay Here (BHPH) dealers. We attended several seminars
Many lenders had to cut staff due to COVID-19 when business shutdowns and government moratoriums on debt collections drove collection volumes down. As lockdowns and other restrictions have lifted and collections and recovery activity has rebounded, lenders who reduced headcount in 2020 are facing the flip-side of that challenge: they
I talked recently with Joel Bowen, President of the California Credit Union Collectors Council (CCUCC). He shared his perspective on the state of credit unions as we continue to emerge from the pandemic. As we’ve heard from other lenders, delinquencies in general are down since the spring of 2020 when
I joined several other members of the Auto Intel Council at the Auto Intel Summit in May. The Council is a private organization that includes the leading intelligence companies in the automotive space. We talked about the latest developments in auto fintech as well as digital retail and remarketing innovations.
Last month I helped wrap up the Weltman, Weinberg & Reis webinar series on auto loan recovery. Weltman is a Cleveland, Ohio-based collections law firm. The first webinar focused on the early stages of auto recovery. You can read my recap and link to the blog replay here. In the
The National Automotive Finance Association (NAF) held its annual Non-Prime Auto Financing Conference last week in Plano, Texas. This was a great opportunity for subprime lenders to network, share best practices, get updated on industry trends and learn about new innovations in our space. I spoke to many lenders, agents
Kotie’s Cars is a Buy Here Pay Here dealer in Waco, Texas, that offers in-house financing. Kotie’s uses traditional GPS trackers in their vehicles – which work well until they don’t, either due to a problem or because someone disables them. David from Kotie’s Cars had a recent situation in
DRN and MVTRAC were happy to be part of Used Car Week (UCW) by Cherokee Media Group in November. From moderating sessions, facilitating breakouts and hosting special events, we had a productive four days in Las Vegas. UCW continues to be the premiere gathering of leaders from across the used
You may have heard that most telecom companies will switch to 4G (or even 5G) networks in 2022. This means that existing 3G networks will shut down over the next 12 months. Why is this important – especially for Buy Here Pay Here lenders? First, let’s define exactly what all
License Plate Recognition (LPR) and DRNsights – DRN’s proprietary analytics platform – offers Lenders a powerful tool that can be useful at all points of the loan process. DRNsights uniquely combines billions of LPR records with patented analytics to build full vehicle stories. These can help lenders make informed risk
The National Independent Auto Dealers Association (NIADA) hosted its annual Convention & Expo in August. This convention gathers industry experts to share insights, trends, resources and best practices with independent auto dealership owners of all types, including franchise, independents and Buy Here Pay Here (BHPH) dealers. We attended several seminars
Many lenders had to cut staff due to COVID-19 when business shutdowns and government moratoriums on debt collections drove collection volumes down. As lockdowns and other restrictions have lifted and collections and recovery activity has rebounded, lenders who reduced headcount in 2020 are facing the flip-side of that challenge: they
I talked recently with Joel Bowen, President of the California Credit Union Collectors Council (CCUCC). He shared his perspective on the state of credit unions as we continue to emerge from the pandemic. As we’ve heard from other lenders, delinquencies in general are down since the spring of 2020 when
I joined several other members of the Auto Intel Council at the Auto Intel Summit in May. The Council is a private organization that includes the leading intelligence companies in the automotive space. We talked about the latest developments in auto fintech as well as digital retail and remarketing innovations.
Last month I helped wrap up the Weltman, Weinberg & Reis webinar series on auto loan recovery. Weltman is a Cleveland, Ohio-based collections law firm. The first webinar focused on the early stages of auto recovery. You can read my recap and link to the blog replay here. In the
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