About us

In finance, an asset-backed security is a type of debt security that is based on pools of assets, or collateralized by the cash flows from a specified pool of underlying assets. Assets are pooled to make otherwise minor and uneconomical investments worthwhile, while also reducing risk by diversifying the underlying assets. Securitization makes these assets available for investment to a broader set of investors. These asset pools can be made of any type of receivable from the common, like credit card payments, auto loans, and mortgages, to esoteric cash flows such as aircraft leases, royalty payments and movie revenues. Typically, the securitized assets might be highly illiquid and private in nature.

In some cases it can be used as credit enhancement by creating a security that has a higher rating than the issuing company which monetizes its assets. This allows it to pay a lower rate of interest than would be possible via a secured bank loan or debt issuance.

The second largest subsector in the ABS market is auto loans. Auto finance companies issue securities backed by underlying pools of auto-related loans. Auto ABS are classified into three categories: prime, nonprime, and subprime:

Prime auto ABS are collaterized by loans made to borrowers with strong credit histories.
Nonprime auto ABS consist of loans made to lesser credit quality consumers, which may have higher cumulative losses.
Subprime borrowers will typically have lower incomes, tainted credited histories, or both.
Owner trusts are the most common structure used when issuing auto loans and allow investors to receive interest and principal on sequential basis. Deals can also be structured to pay on a pro-rata or combination of the two.
Getting ready for our 20th year

And approaching 10 years in online auto loans
The operators of autoloanamerica.net, the InterActive Financial Marketing Group, can be found in downtown Richmond, Va., humming along in a cool old warehouse dating back 130+ years.

Founded by a three-generation car-selling family, InterActive became part of the Dominion Enterprises family in 2007. The Norfolk-based conglomerate is a major player in the auto services world, but is probably best known for print and online versions of magazine rack staples such as CycleTrader.

Even though we're all grown up and corporate, we still wear jeans on Friday and we still reflect the values of the family that started the company nearly 20 years ago. We could not have processed 3.6 million applications since 1989 without thousands and thousands of happy customers.

Our online auto loan application is handled on a secure, encrypted server to protect your private information. Your email address is not sold to spammers and we ask for only the barest minimum information needed to process your online application. You can hear for yourself on our online auto loan customer testimonial page.

FINAL POINT. If you proceed to another online auto loan Web site, please look to see if they list a physical address and phone number. Why would a company ask for your personal information and never provide any of their own?