Drive to Success: Mastering Auto Finance

In this episode of Drive To Success: Mastering Auto Finance, we explore how Edmunds, J.D. Power, Experian Automotive, and Cox Automotive shape the car buying, auto financing, and dealership operations landscape. These industry giants provide critical automotive market data, impacting vehicle pricing, consumer trends, credit risk analysis, and dealership inventory management.

We’ll break down real-world examples of how their insights...

In this episode of Drive To Success: Mastering Auto Finance, we break down the essential steps for self-employed sole proprietors, LLCs, and C-Corporations to qualify for auto financing. Learn how business credit scores like the Dun & Bradstreet Paydex Score and Experian Business Score impact approvals, what financial documents lenders require, and how to strengthen your application. We also explore the tax benefits of financin...

In this episode of Drive To Success: Mastering Auto Finance, we take a deep dive into auto fleet sales—what they are, who benefits from them, and the best financing strategies available. Whether you’re a small business owner, a corporate fleet manager, or a dealership looking to expand, understanding fleet sales can help you make smarter financial decisions. We break down key financing options, including commercial auto loans, leas...

In this episode of Drive To Success: Mastering Auto Finance, we take an in-depth look at Buy Here Pay Here (BHPH) dealerships and how they shape the auto financing landscape. Discover how BHPH dealers serve high-risk customers with in-house financing, the impact of this model on credit-challenged buyers, and the financial risks and rewards for dealerships. We’ll also explore how indirect lenders like Westlake Financial, Credit Acce...

In this episode of Drive To Success: Mastering Auto Finance, we take a deep dive into the importance of auto insurance when purchasing a new or used vehicle. We discuss why insurance is essential, how insurers calculate rates, and the factors that influence your premium. Plus, we break down the average insurance costs for sedans, SUVs, trucks, vans, and sports cars.

Looking for the best insurance rates? We highlight top companies of...

In this episode of Drive To Success: Mastering Auto Finance, we break down three key auto finance concepts that can impact your car purchase or lease: Date of First Use, GAP Insurance, and Over Allowance. Learn how the Date of First Use affects your vehicle’s warranty, whether GAP insurance is a smart investment or an unnecessary expense, and how dealerships use Over Allowance to make trade-in offers seem better than they really ar...

In this episode of Drive To Success: Mastering Auto Finance, we take a deep dive into the world of remarketing, a critical but often overlooked aspect of auto finance. From lease returns and repossessions to dealer auctions and direct-to-consumer sales, we break down how vehicles are resold to maximize value and minimize losses. Learn how captive lenders, dealers, and fleet operators leverage remarketing strategies, the role of tec...

Thinking about buying a used car? Don’t get stuck with a salvage title or hidden damage! In this episode of Drive To Success: Mastering Auto Finance, we break down how to read, review, and understand a CARFAX report to uncover a vehicle’s true history.

We’ll also expose title washing, a deceptive practice where scammers erase a car’s accident history, flood damage, or salvage title by transferring it between states with weak regulat...

In this episode of Drive To Success: Mastering Auto Finance, we take a deep dive into floorplanning for auto dealers—what it is, how it works, and why it’s a game-changer for managing inventory and cash flow. We’ll cover the advantages and disadvantages of floorplan financing, key requirements to qualify, and the top floorplan lenders in the industry, including Ally Financial, NextGear Capital, Ford Credit, Toyota Financial Service...

In this episode of Drive To Success: Mastering Auto Finance, we tackle one of the most challenging financial situations many people face—recovering from repossession and bankruptcy. Divided into six actionable segments, we explore:

The differences between voluntary and involuntary repossession.

Proactive strategies to avoid repossession before it happens.

Steps to rebuild after repossession, including managing deficiency balances and ...

In this episode of Drive to Success: Mastering Auto Finance, we take a deep dive into the critical relationship between Original Equipment Manufacturers (OEMs) and their captive lenders. Discover how this partnership shapes the automotive industry by boosting vehicle sales, providing seamless financing options, and fostering customer loyalty.

We’ll explore:

The roles and impact of OEMs in vehicle production and innovation.

How captive...

In this episode of Drive To Success: Mastering Auto Finance, we explore the ins and outs of auto loan refinancing and how it can help you save money, lower your monthly payments, or pay off your car sooner. Learn about top refinancing options from major lenders like LightStream, Bank of America, and Capital One, along with member-focused solutions from credit unions such as Navy Federal, PenFed, Alliant, and DCU.

We’ll break down th...

In this episode of Drive to Success: Mastering Auto Finance, we’re diving into the fascinating world of credit score tiers and how they directly impact your auto financing options. Discover how lenders categorize credit scores into tiers—like excellent, good, fair, and poor—and use them to determine your loan's interest rates, terms, and even down payment requirements.

We’ll break down what each tier means for you as a borrower...

In this episode of Drive To Success: Mastering Auto Finance, we dive into the hidden costs of vehicle ownership and explore how understanding vehicle valuation and depreciation can save you money. Learn why cars lose value over time, how depreciation impacts your wallet, and why the loan-to-value (LTV) ratio is crucial when financing a vehicle. We’ll also discuss how vehicle valuation affects loan terms, interest rates, and the tot...

In this episode of Drive to Success: Mastering Auto Finance, we tackle the growing threat of synthetic fraud—a sophisticated form of identity fraud that’s costing auto lenders millions. Learn how fraudsters create fake identities, why these schemes are so difficult to detect, and the real impact on the auto finance industry.

We also explore the cutting-edge tools and solutions used by leading companies like LexisNexis, TransUnion, E...

 In this episode of Drive to Success: Mastering Auto Finance, we explore how auto lenders can strengthen their funding processes with advanced fraud detection and verification tools. We dive into the critical role of platforms like LexisNexis Accurint, Point Predictive’s Auto Fraud Manager™, and The Work Number by Equifax. Learn how these tools help funding departments verify borrower information, detect fraud, and ensure complianc...

In this episode of "Drive to Success: Mastering Auto Finance," we take a deep dive into the income verification process that lenders use to qualify applicants for auto loans. We’ll discuss the various types of income that are considered, how each type is calculated, and what documents are needed for verification. Plus, we’ll explain how non-taxable income like Social Security is "grossed up" by 125% to increase ...

 In this episode of Drive to Success: Mastering Auto Finance, we’re uncovering the mystery behind the 5-year Treasury rate and its impact on auto loan rates. Join John Lewis as he break down how lenders use Treasury yields to set interest rates for car loans, and what factors—like inflation and Federal Reserve policies—drive these changes. Whether you’re shopping for a car or working in the auto finance industry, understanding this...

In this episode of Drive to Success: Mastering Auto Finance, we explore the fascinating journey of electric vehicles (EVs)—from their origins in the 19th century, to their early demise, and the modern resurgence that’s transforming the automotive industry. We break down the different types of EV chargers, their pros and cons, and the companies leading the charge in expanding EV infrastructure. We also discuss the impact of EVs on t...