Recently published delinquency rates by vintage show signs of deteriorated portfolio performance. This trend is even more pronounced for consumers with subprime and deep subprime credit scores. 2022 vintage auto loans for deep subprime were 2.4 percent delinquent 8 months after origination, which is a 33 percent increase from the
The Byrider 20 conference in Austin Texas was a great chance for Byrider franchise owners to gather to share best practices and understand overall company direction from their corporate leaders. Going into the conference, our objective for DRN was to talk to franchisees about our Active Duty Alerts tool –
DRN hosted a great week of discussions, networking and golf – both hitting the course ourselves and watching the pros – in May. I think this was one of our best gatherings ever as we packed a lot of action into a few days and were able to make 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
Recently published delinquency rates by vintage show signs of deteriorated portfolio performance. This trend is even more pronounced for consumers with subprime and deep subprime credit scores. 2022 vintage auto loans for deep subprime were 2.4 percent delinquent 8 months after origination, which is a 33 percent increase from the
The Byrider 20 conference in Austin Texas was a great chance for Byrider franchise owners to gather to share best practices and understand overall company direction from their corporate leaders. Going into the conference, our objective for DRN was to talk to franchisees about our Active Duty Alerts tool –
DRN hosted a great week of discussions, networking and golf – both hitting the course ourselves and watching the pros – in May. I think this was one of our best gatherings ever as we packed a lot of action into a few days and were able to make 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