Auto Borrowers Had Mixed Month
Credit access varied depending on vehicle, lender type, Cox says.
Credit access varied depending on vehicle, lender type, Cox says.
Compared to millennial cohort a decade ago, they’re tapping credit more and have higher delinquency rates, report found.
Borrowers seeking to buy vehicles despite affordability issues were the top culprits last year as newer methods increase.
Less than 1% say they collect a digital copy, validate and compare against DMV records.
March loosening is second month in a row of eased access.
What auto retailers and lenders can do to help consumers get into a car loan they can afford.
But average payments increased for both new and used models.
CFPB looking into consumer credit account data. Company says it’s cooperating.
January continued three-month streak of tightening across channels.
The company says it remains the largest auto lender as an aggregate for nearly three years.
New- and used-vehicle averages jumped in late January, though they peaked in the fall.
Artificial intelligence can be leveraged for faster approvals, easier underwriting, and speedier lender payments to dealers.
Partners say integration enables delivery of personalized, accurate payment options to dealers.
Consumers faced tighter conditions in the fall, though their overall outlook brightened.
New-vehicle buying conditions far better than a year earlier as market shifts to the buyer.
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In