San Diego — Despite continued low-vehicle inventory and rising interest rates, auto lending shows strong growth. Some of the top thinkers in the industry gathered here in late April for the Auto Finance Risk Summit for keynote talks and panel discussions covering some of the most pressing issues facing the industry.
One panel discussion attended by Automotive News centered on how best to retain dealer market share and engagement. The panelists were: Rich Black, director of indirect business development at Oregon Community Credit Union; Mark Chandler, vice president of business development at Credit Union Leasing of America; and Darren Lorentz, senior vice president of product management at CUDL.
Among the topics they discussed were why it's a great time to be a credit union in automotive lending; how to use digital tools to enhance communications between the lender and dealer; tips to improve dealer retention; what variables are making lenders more competitive; and possible road bumps ahead as the market stabilizes.
Here are edited excerpts.