Scott Painter’s Fair Now Offers Insurance Coverage
Through a partnership with risk-management services provider Assurant, Fair's digital flexible ownership platform now allows consumers to add insurance coverage when they sign for a pre-owned vehicle through its mobile app.
Subprime Originations Hit Record Low in Q3
Subprime financing fell to its lowest point since 2012, while prime grabbed the lion’s share of the auto finance space in the third quarter. Even the used-vehicle market has gone prime, with buyers outside of prime accounting for just a third of the market.
Three FinCos Stung for $300K by NYDCA
Credit Acceptance, Clover Commercial and Westlake Financial have agreed to pay more than $300,000 to settle charges of predatory lending leveled by New York’s Department of Consumer Affairs on behalf of 50 Brooklyn car buyers.
EFG Companies Launches Mobile App
Born out of the F&I product provider’s 2015 and 2016 F&I Innovator of the Year competitions at Northwood University, EFG Companies’ Driver’s Advocate mobile app features a host of service-retention tools, including a loyalty rewards tracker, and doubles as an inventory-management tool.
AutoGravity Names Wang as CTO
AutoGravity’s Sheng Wang has been appointed to chief technology officer after serving as the fintech provider’s first product director.