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March 2, 2017 - Industry News

Experian: Total Balances, Amount Financed Reach Record Highs in Q4 2016

The firm today reported that average amounts financed for new and used reached record highs of $30,621 and $19,329, respectively. Total balances also reached a record high, although Experian observed a slowing in year-over-year growth.

Tags: auto finance, deliquencies, Experian Automotive, leasing, new-vehicle financing, used-vehicle financing

December 1, 2016 - Industry News

Fed Reserve, CFPB Leave TILA, CLA Dollar Thresholds the Same for 2017

The two agencies announced before Thanksgiving that the dollar thresholds in the TILA’s Reg Z. and the CLA’s Reg. M for exempt consumer credit transaction will remain at $54,600 for 2017.

Tags: compliance, Consumer Leasing Act, leasing, new-vehicle financing, Regulation M, Regulation Z, Truth in Lending Act

April 14, 2016 - Industry News

Ford Credit Now Offering 84-Month Financing

In a dealer bulletin obtained by F&I and Showroom, Ford Motor Credit announced the availability of 84-month financing on new retail and subvented rate contracts. The bulletin urges dealers to consider the negative impacts of longer term loans.

Tags: 84-Month Auto Loans, auto finance, F&I office, Ford Credit, Long Loan Terms, new-vehicle financing

March 3, 2016 - Industry News

Experian: More Consumers Turning to Leasing, Used Vehicles

With new-vehicle loan amounts and monthly payments rising to record highs during the fourth quarter, leasing’s share of the market grew to record levels. Data from Experian Automotive also showed that more consumers turned to the used-vehicle market in the end-of-year period.

Tags: Experian Automotive, Melinda Zabritski, Monthly Payments, new-vehicle financing, new-vehicle leasing

March 2, 2012 - Industry News

GM, Wells Fargo Launch Auto Finance Partnership

General Motors Co. and Wells Fargo & Co. announced a long-term partnership to offer financing to Chevrolet, Buick, GMC and Cadillac dealers and retail customers in GM’s West marketing region.

Tags: Buick, Cadillac, Chevrolet, dealer financing, Finance, Floorplan Financing, General Motors, GMC, new-vehicle financing, retail financing, Wells Fargo, wholesale financing

October 18, 2011 - Industry News

Asbury Secures $900 Million Credit Facility

Asbury Automotive Group Inc. announced that it has entered into a $900 million credit facility that will provide up to $625 million for new-vehicle inventory floorplan financing and up to $100 million for used vehicle inventory floorplan financing.

Tags: Asbury Automotive, Credit, Floorplan Financing, new-vehicle financing, used-vehicle financing

September 10, 2009 - Industry News

60-Day Delinquencies Rise by 21.2 Percent in 2Q

Automotive loans that are 60 days past due rose by 21.7 percent in the second quarter 2009 compared to the year-ago period, according to Experian Automotive.

Tags: Auto Loans, Delinquencies, Experian, new-vehicle financing, Payment Plan, used-vehicle financing

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