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October 1, 2009

Delinquencies Keeping Auto Finance in Slow Lane

The economic downturn has put more than $25.5 billion in auto loans at risk, but there were some signs of improvement. Experian Automotive’s director of automotive credit gives her take on what continues to be an unpredictable market.

September 28, 2009

Wells Fargo Provides $50 Million Credit Line to Automotive Credit Corp.

Wells Fargo Preferred Capital, a subsidiary of Wells Fargo & Company, recently provided a $50 million senior credit facility to Automotive Credit Corporation (ACC), an indirect auto finance company.

September 1, 2009

Calculated Move

The Sames family name has been a staple in the Laredo, Texas, community since 1910. But in a market like today’s, reputation alone won’t get it done. That’s why this fourth-generation dealer is counting his blessings for entering the world of in-house financing.

September 1, 2009

Before Taking the Plunge…

Legal columnist Thomas B. Hudson reviews five items a dealership's related finance company should have in place before it begins buying contracts.

August 1, 2009

2009 NAF Survey: Buyers Steered Toward Used

The NAF Association’s annual survey revealed the stress finance companies felt heading into 2009, but it also illustrated a firmer grasp of what was at stake. The question is whether this understanding will make financing widely available again.

July 1, 2009

Credit Codes Still a Mystery

Not only are lenders staying away from anything subprime, they’re also pushing more consumers toward the used-vehicle market. And with more than $5.7 billion in loans reported 60 days delinquent, Experian Automotive predicts further market volatility.

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.

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).

May 11, 2009

Average Interest Rate Falls to 2.74 Percent, Says Federal Reserve

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

April 27, 2009

First 100 Days of Obama Administration Pave Road for More Regulation

The first 100 days of President Barack Obama’s administration have been marked by much pressure to address the financial crisis, help the U.S. economy, and establish regulatory reform. Wolters Kluwer Financial Services’ compliance experts agree that development alone has already changed the mood within the financial services industry.