Auto Financing news and trends

Yendo Raises $165 Million for ‘Vehicle-Secured’ Credit Card
Investments // May 16, 2024

Yendo, a FinTech offering a credit card tied to users’ car equity, is $165 million richer. The company announced the new funding — $150 in debt financing, $15 million in equity — Thursday (May 16), saying it would use it to fuel the growth of originations on...

Report: UK Car Loan Probe Could Hurt Banks
Consumer Finance // February 25, 2024

England’s financial watchdog is taking a long look at the way lenders financed car loans. And that investigation could have broader implications for the country’s banking sector, Bloomberg News said in a report Sunday (Feb. 25).  The Financial Conduct Authority (FCA) is reviewing commissions on...

Chase Teams With CarGurus’ for Online Auto Financing
Consumer Finance // January 29, 2024

Chase has joined CarGurus’ multilender financing platform, expanding options for consumers looking to prequalify for auto financing online. The bank joins Capital One, Global Lending Services and Westlake Financial as a participating lender on the online automotive platform, CarGurus said in a Monday (Jan. 29) press release. With over 70% of car shoppers wanting...

Sopra and Vero Partner on Wholesale Auto Financing Solution 
Partnerships // December 19, 2023

Sopra Banking Software (SBS) and Vero Technologies have joined forces to bring digital, wholesale auto financing capabilities to local and regional U.S. banks, credit unions and specialized finance companies.  This partnership aims to address the challenges faced by smaller community financial institutions in the wholesale financing industry, the...

Interviews & Exclusives
CarPutty Shifts Gears on How Consumers Finance Their Cars

July 22, 2024
Outside of their home, or their children’s education, their car is most Americans’ largest purchase. But when it comes to making that purchase, many would-be customers run up against two big obstacles: a lack of transparency around financing solutions, and outdated software first launched in the previous century. “Consumers go to dealerships and pick out […]

Blinker CEO: Every Picture Tells An Auto Sales Story

February 23, 2018
Americans like owning and driving cars — 88 percent of those who are legally able to drive are owners of cars, according to Pew, giving the U.S. the world’s second-highest...

AutoGravity On Why Car Buying Can Be Friction-Free

July 11, 2017
There’s nothing like that new car smell. And the fun of driving a new car off the dealer’s parking lot. But the process of getting there is anything but fun, especially...

Quick Reads
Yendo Raises $165 Million for ‘Vehicle-Secured’ Credit Card

May 16, 2024
Yendo, a FinTech offering a credit card tied to users’ car equity, is $165 million richer. The company announced the new funding — $150 in debt financing, $15 million in equity — Thursday (May 16), saying it would use it to fuel the growth of originations on its platform, letting it extend credit to more users at […]

Report: UK Car Loan Probe Could Hurt Banks

February 25, 2024
England’s financial watchdog is taking a long look at the way lenders financed car loans. And that investigation could have broader implications for the country’s banking sector, Bloomberg News said...

Chase Teams With CarGurus’ for Online Auto Financing

January 29, 2024
Chase has joined CarGurus’ multilender financing platform, expanding options for consumers looking to prequalify for auto financing online. The bank joins Capital One, Global Lending Services and Westlake Financial as a participating lender on the online automotive platform,...

Sopra and Vero Partner on Wholesale Auto Financing Solution 

December 19, 2023
Sopra Banking Software (SBS) and Vero Technologies have joined forces to bring digital, wholesale auto financing capabilities to local and regional U.S. banks, credit unions and specialized finance companies.  This partnership aims to...