Chatbots, interactive video and the changing customer experience in focus at IAFN Conference

Improving the customer experience is a key goal throughout the auto finance process, particularly as buyers become more focused on digital services. Customers are getting younger, more demanding and more willing to walk away or use online searches to find what they want. For dealerships and finance lenders, that means it is becoming a battle to gain and keep the attention of a potential buyer. At the International Auto Finance Network conference, which takes place on January 26, 2018, at the London Hilton Tower Bridge, expert speakers from the fintech sector will look at how technology can be used to improve customer touchpoints.

Chatbots, interactive video and the changing customer experience in focus at IAFN Conference

Dec 14, 2017

Improving the customer experience is a key goal throughout the auto finance process, particularly as buyers become more focused on digital services. Customers are getting younger, more demanding and more willing to walk away or use online searches to find what they want. For dealerships and finance lenders, that means it is becoming a battle to gain and keep the attention of a potential buyer. At the International Auto Finance Network conference, which takes place on January 26, 2018, at the London Hilton Tower Bridge, expert speakers from the fintech sector will look at how technology can be used to improve customer touchpoints.

Volkswagen Financial Services expects record 2017 earnings

Volkswagen Financial Services will break records in its 2017 financial year as it expects to beat last year’s earnings high of €2.1 billion. According to provisional figures, the portfolio of current contracts will have increased by more than 8% to nearly 20 million this year, compared to 18.2 million in 2016.

Volkswagen Financial Services expects record 2017 earnings

Dec 14, 2017

Volkswagen Financial Services will break records in its 2017 financial year as it expects to beat last year’s earnings high of €2.1 billion. According to provisional figures, the portfolio of current contracts will have increased by more than 8% to nearly 20 million this year, compared to 18.2 million in 2016.

New credit facility drives Startline Motor Finance expansion

Startline Motor Finance has secured a new £250 million credit facility from J.P. Morgan. It comes as Glasgow-based Startline has seen a 25% increase in the number of major dealer groups in its portfolio. It is currently implementing a major sales and marketing campaign designed to create further interest.

New credit facility drives Startline Motor Finance expansion

Dec 11, 2017

Startline Motor Finance has secured a new £250 million credit facility from J.P. Morgan. It comes as Glasgow-based Startline has seen a 25% increase in the number of major dealer groups in its portfolio. It is currently implementing a major sales and marketing campaign designed to create further interest.

EMEA

Georg Bauer to report on progress of fair.com at IAFN Conference

Dec 11, 2017

Georg Bauer will report on the progress of fintech start-up fair.com, a business he co-founded this year with TrueCar pioneer Scott Painter. Bauer will be speaking at the International Auto Finance Network conference in January 2018 in London. Fair.com’s business model has grown out of the founders’ belief that modern consumers find problems with the current car buying process. Confrontational experiences with dealership salespeople and the long-term commitments required for purchases, leases and loan agreements are all out of step with purchasing patterns in most other sectors, where consumers increasingly favour pay on use and subscription arrangements, they argue.

Americas

$300,000 payout for deceptive auto loans

Dec 11, 2017

The New York City Department of Consumer Affairs (DCA) has secured over $300,000 from three auto finance companies in restitution for 50 car buyers who were found to be victims of predatory lending at Brooklyn used car dealerships. Commissioner Lorelei Salas announced settlement agreements with Credit Acceptance Corp., Clover Commercial Corp, and Westlake Financial Services, which were found to have financed sub-prime auto loans at rates as high as 24.9%.

Asia Pacific

Volkswagen Financial Services Australia pays penalty for misleading finance ads

Nov 30, 2017

Volkswagen Financial Services Australia (VWFSA) has paid a penalty of AUD$216,000 (US$163,000) after the Australian Securities and Investments Commission (ASIC) issued infringement notices for alleged misleading advertising statements. The penalty related to VWSA’s ‘1% you can’t ignore’ advertising campaign, with ASIC issuing 20 infringement notices in total.