P&A Providers & Administrators
MenuMENU
SearchSEARCH

Triad Founder Launches Nonprime Finance Company

May 10, 2011
2 min to read


NEW YORK — Four former Triad Financial executives have partnered with a Perella Weinberg Partners affiliate to form CarFinance Capital LLC, a direct and indirect automobile finance company catering to the nonprime market.


Based in Irvine, Calif., CarFinance Capital will initially launch on the West Coast and plans to expand to Texas in June. Compay officials said the finance company will continue to roll out across the United States throughout the remainder of 2011. Certain funds within the Perella Weinberg Partners’ Asset Based Value strategy, an affiliate of Perella Weinberg Partners, have committed capital to fund the company’s growth, F&I and Showroom reported.

Ad Loading...


CarFinance Capital will be led by the experienced management team who previously built and operated Triad Financial Corporation, which was one of the largest nonprime auto finance companies in the U.S. Jim Landy, Triad’s founder and CEO from 1989 to 2005, will serve as president and chief executive officer of CarFinance. Three additional former Triad executives, Dennis Morris, Jeff Butcher and John O’Dowd, will serve as CarFinance’s chief operating officer, chief financial officer and chief credit officer, respectively.


“A significant portion of the non-prime lending supply disappeared during the recession, leaving dealerships underserved as demand for nonprime auto loans came storming back," said Landy. "There is a clear and growing need in the nonprime auto financing segment for more customized, dealer-friendly financial solutions, and CarFinance Capital was founded to fill this gap with a superior dealer process that delivers more consistency, flexibility and one-on-one support than some of the more rigid, mechanized players.


“CarFinance has the right leadership and the right strategy in a sector that we believe is poised for significant growth. Our experienced team looks forward to renewing relationships with the thousands of dealers with whom we’ve had such a long successful history,” he added.


David Schiff, partner at Perella Weinberg Partners and portfolio manager of the Asset Based Value strategy, stated, “We are excited to be partnering with this group of talented and proven executives. Jim and his team have had tremendous success leading one of the nation’s largest auto finance companies. We look forward to working with them to leverage their collective experience and to build upon their past track record to meet increasing market demand while becoming a premier player in the non-prime market.”


Perella Weinberg Partners’ Asset Based Value strategy is a of U.S. specialty finance solutions. Since its inception in 2008, the strategy has grown to manage in excess of $1 billion in equity capital through a number of different investment vehicles.

More Industry

Orange electric vehicle charging station.
Industry•by Lauren Lawrence•October 20, 2026

Charger Network Growth Slows

Despite a projected increase in public EV chargers in 2026, charging infrastructure remains a top concern for consumers as the gap between the most and least EV-friendly places remains substantial.

Read More →
Fan of $100 bills atop a white envelope
Industry•by Hannah Mitchell•October 13, 2026

Lenders, Consumers Take on More Auto Loan Risk

September records loosened credit access the most in over a decade as buyers took advantage of the conditions to afford trading, though loan applications fell.

Read More →
Red type R Honda civic parked on road.
Industry•by Lauren Lawrence•October 13, 2026

Next-Gen Hybrids in Sight

Dealerships can expect to see revamped hybrids from Honda next year as the company rolls out a new system and model lineup.

Read More →
Ad Loading...
Dodge ram emblem on orange vehicle exterior
Industry•by Hannah Mitchell•October 6, 2026

Gem State Stores Change Hands

A larger auto group founded in the industry’s early years sold two franchises to a neighbor group that's on a growth spurt.

Read More →
Graphic of model car driving on fake road.
Industry•by Lauren Lawrence•October 6, 2026

Charging In Motion

Honda has been researching wireless in-motion charging for electric vehicles since 2025, and new technology developments have put it a step closer to a final product.

Read More →
front grill of a Ford truck with blue Ford emblem
Industry•by Lauren Lawrence•September 30, 2026

Twin Cities Stores Sell

Minnesota-based Walser Automotive Group made what it called the most significant acquisition in its history with a three-rooftop deal in Minneapolis.

Read More →
Ad Loading...
Diesel engine on a production line in a factory
Industry•by Hannah Mitchell•September 29, 2026

U.S. Auto Sales Still Below Prepandemic Levels

Mobility Global industry observers don’t expect the market to return to the higher volumes that became routine before Covid but to stay well below its potential.

Read More →
Front of red tesla car.
Industry•by Lauren Lawrence•September 22, 2026

The Powertrain Shift

Electric-vehicle owners are backpedaling, according to new data, with product availability driving many to shift back to gas-powered engines.

Read More →
White BMW SUV driving on road.
Industry•by Hannah Mitchell•September 15, 2026

Achromatic Autos

The shades that dominate the U.S. car market don’t call attention to themselves, though grayscale may have plateaued after a 30-year upswing, research shows.

Read More →
Ad Loading...
Line of eclipse SUVs in parking lot.
Industry•by Lauren Lawrence•September 15, 2026

Used-Vehicle Affordability Worsens

Listing prices in August defied seasonal trends, rising above $27,000 for the second time this year.

Read More →