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June 2, 2015 - Industry News

Auto Loan Terms Reach All-Time Highs, Experian Reports

The average loan term for new and used vehicles has increased by one month, reaching new all-time highs of 67 and 62 months, respectively, according to a new report from Experian.

Tags: Auto Loan Terms, Experian, Experian Automotive, loans

June 7, 2014 - Industry News

SAFCo, PayNearMe Partner to Offer New Payment Options

PayNearMe and Southern Auto Finance Company have partnered to offer borrowers a convenient new way to repay their loans using cash at more than 17,000 participating 7-Eleven, Family Dollar and ACE Cash Express stores.

Tags: loans, SAFCo

March 18, 2014 - Industry News

Survey: Bankers Preparing for Higher Credit Losses

Banks and credit unions believe they will eventually need to boost allowances for loan and lease losses by nearly 50%, according to a recent survey by Sageworks, a financial information company.

Tags: banks, credit unions, loans

August 5, 2013 - Industry News

Fitch: U.S. Auto ABS Performance Going Strong

U.S. auto loan ABS asset performance continues to be solid with historically low delinquency rates and loss rates at or near record lows, despite a slight uptick in loss rates during June.

Tags: ABS ratings, Auto ABS, Delinquencies, Fitch Ratings, loans, subprime

June 20, 2013 - Industry News

CFPB’s Hackett to Depart Bureau

A spokesperson with the CFPB confirmed yesterday that Rick Hackett will depart the bureau later this summer. He was hired in May 2011 to oversee installment lending markets, including auto finance.

Tags: auto finance, CFPB, departure, loans, Richard Hackett

February 12, 2013 - Industry News

Total Auto Loans, Balances at 40-Month Highs, Equifax Reports

The credit reporting agency reported that balances on outstanding loans are at a 48-month high, while the total number of existing loans reach a 42-month high.

Tags: credit reporting agency, Equifax, Equifax National Consumer Credit Trends Report, loans

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