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Interest Rates Increase Slightly in January, Says Federal Reserve

Credit extended to consumers in January rose for the first time since July 2008, according to the Federal Reserve’s monthly report, providing further evidence that both lenders and consumers are feeling better than they did a year ago.

Tags: amount financed, consumer credit, Federal Reserve, interest rate, loan-to-ratio

December 15, 2009

Interest Rates Dip Slightly in October, Says Federal Reserve

Consumer credit decreased at an annual rate of 3.3 percent in the third quarter and continued to decline in October, according to the Federal Reserve’s monthly report.

Tags: amount financed, consumer credit, Federal Reserve, interest rate, LOAN TERM, loan-to-value

December 1, 2009

Consumer Credit Rebounds to Pre-Cash for Clunkers Levels

Consumer credit patterns returned to their status quo in September, with interest rates, loan terms and loan-to-value ratios reverting to their pre-Cash for Clunkers (C4C) levels, according to the Federal Reserve’s monthly report.

Tags: amount financed, Cash for Clunkers program, Federal Reserve, interest rate, loan terms, loan-to-value

June 9, 2009

Average Interest Rises to 2.79 Percent, Says Federal Reserve

The average interest rate for new-car loans rose slightly in April, while the amount financed increased, according to the latest Federal Reserve Statistical Report.

Tags: amount financed, average term, Federal Reserve, interest rate, loan-to-value

May 15, 2009

Proposed Bill Restricts Post-Sale Changes in Finance Terms

A legislative proposal heard this week by a U.S. House of Representatives subcommittee directs the Federal Trade Commission (FTC) to issue new rules that would have significant ramifications for the auto finance industry, says the chief federal government affairs official for the American Financial Services Association (AFSA).

Tags: AFSA, amount financed, annual percentage rate, auto finance, interest rate

April 9, 2009

Average Interest Rate Falls to 3.17 Percent, Reports Federal Reserve

The average interest rate for new-car loans dropped sharply in February, while the amount financed increased, according to the latest Federal Reserve Statistical Report.

Tags: amount financed, average term, Federal Reserve, interest rate, loan-to-value

March 10, 2009

Amount Financed Increases, Interest Rates Drop, Reports Federal Reserve

The average amount financed on U.S. new-vehicle purchases increased in January 2009, according to the latest Federal Reserve Statistical Release.

Tags: amount financed, Federal Reserve, interest rate, loan-to-value

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