Daily Digest – February 23. Revenue Up, But Profits Down at PAR North America Parent Company; Auto Loan Debts Hit New Record While Delinquency Rates Keep Rising

Up Down

REVENUE UP, BUT PROFIT DOWN AT PAR NORTH AMERICA PARENT COMPANY KAR Auction Services Inc., the parent company of ADESA and PAR North America, announced higher revenue but lower profits for the fourth quarter. The company cited higher operating expenses and interest expenses for the drop in profits. For the quarter, KAR made $45.5 million, down...

Daily Digest – February 22. Plenty of Questions And Few Answers in Auto Lending Today; CPS Expanding Direct Lending to Lower Loss Rates

Question Marks

PLENTY OF QUESTIONS AND FEW ANSWERS IN AUTO LENDING TODAY An overview of the questionable state of the auto finance market. Delinquency rates are rising even though the economy is in decent shape, and the amount of auto loans outstanding is growing faster than any other form of consumer credit. Topping this sundae off are the dwindling profits at...

Daily Digest – February 21. Federal Agency Looking Into Collection Practices of Subprime Lenders; Why You Shouldn’t Repossess a Car in Malaysia

Microscope

FEDERAL AGENCY LOOKING INTO COLLECTION PRACTICES OF SUBPRIME LENDERS The Federal Trade Commission is looking into the collection practices of subprime auto lenders, including their use of starter-interrupt devices. That investigation also includes looking into auto lenders that make threats about repossessing vehicles in order to get individuals...

Daily Digest – February 14. Delinquency & Loss Rates Increase in 2016; Police Officer Fired For Allegedly Punching Man in Handcuffs

Losses

DELINQUENCY, LOSS RATES INCREASE IN 2016 COMPARED WITH 2015 Loss rates and delinquency rates were higher at the end of 2016 than they were a year earlier, according to data released by Standard & Poor’s. Loss rates on prime and subprime loans were 10% higher at the end of 2016, compared with 2015. POLICE OFFICER FIRED FOR ALLEGEDLY...

Daily Digest – February 13. BHPH Expert Talks About Improving Collection Rates; Repossession Incident Leads to Gunfire, Burglary Charges

Money

BHPH EXPERT TALKS ABOUT HOW TO IMPROVE COLLECTION RATES More collectors making more phone calls is not the way to improve collection rates in the Buy Here, Pay Here market, according to one professional. Empathy and taking a scientific approach to collections by analyzing data and payment patterns will yield better results. REPOSSESSION...

Skip to toolbar