Getting back in the game

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Jim Henry
Automotive News
September 3, 2012 - 12:01 am ET

Many auto lenders that cut back in the recession have returned. Some examples:

• The biggest bank in Alabama, Regions Financial in Birmingham, is increasing its indirect auto lending after a two-year absence from late 2008 to late 2010.

• Huntington Bank of Columbus, Ohio, stopped auto originations outside its six-state core footprint in 2009 but started expanding again in 2010.

In addition to big subprime auto lenders such as GM Financial and Santander Consumer USA, about a dozen independent, mostly subprime auto lenders are growing rapidly, thanks to consumer demand and investor interest.

Several independents, including Houston-based First Investors Financial Services, had cut back in the recession. Now they're actively signing up more dealers.

You can reach Jim Henry at autonews@crain.com.

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