Auto lending

About $2 billion changes hands daily for the sale of new motor vehicles in the U.S., making auto dealers a prime use case for faster payments. So why aren't more using it?

Pagaya's artificial-intelligence model utilizes more data points in assessing whether a consumer is creditworthy than the handful typically used by traditional auto lenders, so it can find more consumers who would have previously been denied a loan.

CPS provides auto loans to U.S. consumers who have situational credit problems, but display an ability to pay their obligations, according to the company.

Rising balances and annual percentage rates alongside lower FICO scores mark used vehicle loan pool.

Car loans are among the bread-and-butter products for credit unions, but slowing demand and growing delinquencies are putting some pressure on the category.

The subprime auto lender has a good track record, but there are concerns about used-car prices normalizing, according to KBRA.

The deal’s sponsor has issued a small rated portion to investors and sold the remainder back to loan-originator.

The sponsor’s Fortune 500 parent provides comfort in the face of the subprime-auto industry’s woes.

Subprime borrowers whose credit scores have risen since they bought their cars are increasingly looking for a better deal. Credit unions and small banks are seizing the opportunity, often with the help of fintechs.

The price for the 20% stake in Santander Consumer USA Holdings that Santander does not already own is significantly higher than what the buyer first offered in July.