Weekly Wrap on auto ABS, used-vehicle values and CPS’ credit facility

<p>Last week, used-vehicle values continued to shift amid improving inventory and slowing used-car sales. Meanwhile, CarMax Auto Finance, Hyundai Capital America, Santander Consumer USA and Vroom all announced plans to close $4 billion in prime and subprime asset-backed securities (ABS) deals on July 20.  </p><p>Also last week, Consumer Portfolio Services (CPS) looked to revamp its operational strategy and focus on growth by doubling its credit facility with Ares Agent Services.</p>