Auto leasing

The specialty lender provides leases for preowned Ferraris, Porsches, McLarens, Lamborghinis and other luxury cars.

On Jun. 30, 2020. Dollars in thousands.

Ride-hailing services and public transit were gaining ground until the pandemic struck, but the outbreak has quickly and radically changed how consumers think about buying cars.

With prices rising rapidly and loan terms increasing, some institutions may want to consider adding a leasing option to their auto loan portfolio.

Slowing sales, decreasing market share and other factors could make it harder for credit unions to grow one of the industry's biggest products in the year ahead.

Credit unions have been heavily focused on millennials but serving older consumers is just as important. Vehicle leasing is one way to reach both demographics.

The industry faces additional risks when members take out auto loans and then list their new vehicles on apps for others to rent.

The agreement is expected to solidify a lending partnership whose status had been in doubt for more than a year. But it raised as many questions as it answered.

Two economists speaking during CU Direct's recent Drive conference in Las Vegas offered predictions on how a variety of economic factors could impact credit union auto lending portfolios in the not-too-distant future.

The first day of CU Direct's annual Drive conference included insights from dealers, executives at online car-buying platforms and more.