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May 30, 2017 - Industry News

BofA Adds F&I Component to Mobile Car-Shopping App

Bank of America is piloting new enhancements to its mobile banking technology that will allow clients to complete the auto financing process directly with the bank on a mobile device.

Tags: Bank of America, digital retailing, mobile app, online F&I

May 12, 2016 - Industry News

GM Replacing 88% of Lineup By 2020

General Motors should gain market share by replacing 88% of its light-duty lineup by 2020, while Volkswagen and Korean automakers are relying too heavily on cars with consumer demand shifting toward SUVs and trucks, a Bank of America Merrill Lynch analyst has said.

Tags: Bank of America, Chevrolet, Fiat Chrysler, Ford, General Motors, Hyundai, Kia, Merrill Lynch, Nissan, Toyota, Volkswagen

April 12, 2012 - Industry News

Auto ABS Sales on the Rise

More than $5 billion in auto asset-back securities sales were made on Wednesday, providing more proof that investor demand for auto bonds remains high.

Tags: Auto ABS, Bank of America, Toyota Financial Services, Wells Fargo Securities

December 8, 2011 - Industry News

Bank of America, DataScan Launch Used-Car Buying Website

Bank of America and DataScan Field Services have launched a new Website that will provide used-car buyers with everything they’ll need to complete a vehicle purchase online.

Tags: Bank of America, DataScan Field Services, internet sales, Internet Shopper, PRNDL.com, used vehicles, used-vehicle financing

September 6, 2011 - Industry News

Nicolas Financial Increases Credit Line to Fuel Expansion

The specialty consumer finance company announced that it has increased its credit line to $150 million to help continue its expansion strategy over the next few years.

Tags: Bank of America, banks, Credit, Nicholas Financial Inc., Wells Fargo

May 17, 2011 - Industry News

Ally Financial Largest U.S. Auto Finance Company, Report Finds

Ally Financial seized on a market buoyed by new loan originations to claim the title of largest auto finance company in the United States in 2010, according to the new Auto Finance Big Wheels annual ranking of car lenders and lessors.

Tags: Ally Financial, American Honda Finance, Bank of America, BMW Financial Services, Chase Auto Finance, Ford Credit, Nissan Motor Acceptance Corp., Santander Consumer USA, Toyota Financial Services, Wells Fargo

March 17, 2011 - Industry News

KBB Study Shows New-Car Shoppers Plan to Research Finance Options Online

According to a new Kelly Blue Book Market Intelligence Survey, 64 percent of new-car shoppers say they plan to research their financing options on the Web. The vehicle information site also announced that it has entered into exclusive partnerships with Bank of America and Autobytel Inc.'s Car.com to offer prime and subprime financing to visitors of KBB.com.

Tags: Autobytel, Bank of America, Internet Shopper, KBB.com, Kelley Blue Book, subprime

November 23, 2010 - Industry News

Bank of America Launches Car-Buying Site

Bank of America rolled out today a new online shopping site for new and used vehicles that links prospective buyers to the bank’s certified dealers.

Tags: Bank of America, Vehicle Sales

July 27, 2010 - Industry News

Loan Losses Improve for Nation's Largest Banks

Further evidence that losses from failed loans may have peaked in the first half of 2010 was revealed as the nation’s largest banks issued their second-quarter report cards.

Tags: Bank of America, Citigroup, JP Morgan Chase, Wachovia, Wells Fargo

October 27, 2009 - Industry News

Fitch Sees Better-Than-Expected Performance of Auto Loans

The ratings for prime senior tranches of asset-backed securities (ABS) auto loan and credit card transactions have remained stable in the first nine months of the year, despite concerns by Fitch Ratings about growing problems in consumer credit and unemployment.

Tags: Auto ABS, Bank of America, Capital Auto, Fitch Ratings, Wachovia

July 15, 2009 - Industry News

Bank of America Offers Financing for Tesla Roadster

Tesla Motors announced that Bank of America will offer financing for the all-electric Tesla Roadster to consumers in the United States.

Tags: Bank of America, Tesla Motors

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