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.

Until now, Toyota Financial Services has offered banking services to its dealers. But as it builds its digital bank, that will soon change, according to its newly appointed chief information officer.

More than 137,000 credit union members will now have access to the online car-buying program.

From YouTube test drives to subscription services, auto lending isn’t what it used to be – and credit unions need to ensure they’re keeping up with the times.

Terms on car loans continue to lengthen in an attempt to keep monthly payments manageable for consumers, but one expert warns that at some point they're going to impact affordability.

Amid rising interest rates and vehicle costs, longer loan terms and more, credit union auto lenders have two paths they can take to manage the challenges and opportunities that lie ahead.

On Dec. 31, 2017. Dollars in thousands.

A 28% increase in lease assets helped offset stagnant growth in traditional auto lending.

The company has written more than 105,000 leases since its founding and expects 2018 to be its most successful year yet for the CU Xpress Lease product.

The Detroit company recorded an 11% increase in car loans and leases originated during the fourth quarter, as well as a jump in yields. Ally appears to be benefiting from Wells Fargo's substantial retrenchment in auto lending.

On Sep. 30, 2017. Dollars in thousands.