Auto Financing

Navigating Market Shifts and Addressing Auto Finance Challenges

Recent trends in the auto finance sector reveal rising delinquencies and a growing captive market share. The auto finance industry is rampant with pressure and constant shifts, arguably more than ever at the moment. Economic uncertainty looms large for many, especially subprime borrowers and the companies that work with them.

The increase in delinquencies, especially in the near-prime and subprime auto markets, calls for a proactive and analytical approach to loan servicing. Servicers and lenders are challenged to adapt to the behavior of borrowers as they navigate potential financial hardship. 

Servicing Solutions is well-positioned to assist lenders in managing these challenges effectively. Our customer journey is designed to mitigate risks and identify potential issues early in the loan cycle. We take a proactive approach and emphasize communication.

The captive market’s notable growth underscores the need for tailored financial services. Servicing Solutions provides customization and flexibility to each of our partners. This allows us to more easily adapt to this ever-changing landscape and provide solutions that align with the unique needs of nuanced territories like captive finance. 

In an era of economic fluctuations and staunch regulations, transparent and compliant practices can bring confidence and results. We leverage resources like Hudson Cook and CounselorLibrary to remain abreast of our regulatory environment. 

We aim to be reliable during times of uncertainty and have worked hard to establish that as a pillar of our culture and reputation with our clients. With that in mind, a commitment to ongoing enablement and development is imperative to achieve that. 

We are confident in our ability to handle these challenges with poise because we take the time to develop our teams in preparation for constant change. Success often stems from an open mind and a willingness to evolve continuously, which is why we believe it is important to implement proper programs to teach our teams how to navigate those situations.

We possess a unique expertise in loan servicing and flexible staffing. We work closely with our partners and consult them on best practices for scaling operations efficiently while maintaining high customer satisfaction. With over 200 years of experience in the industry across our leadership team, we have learned to embrace volatility and always be prepared to adapt to change, and are eager to help others develop those skills.