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July Was Hot for Auto Borrowers
Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
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SEARCHMENUSEARCHCredit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
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Volkswagen has reached an agreement to settle claims relating to its 3.0L V-6 TDI engines, committing to buy back a quarter of those vehicles. The automaker will also set aside $225 million for emissions reduction, and pay $25 million to support the use of zero emission vehicles (ZEVs) in California.
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The deal was executed through a wholly owned subsidiary developed by RouteOne. It will operate as MaximTrak Technologies under the leadership of RouteOne CEO Justin Oesterle and MaximTrak President Jim Maxim Jr.
Read More →Per the agreement, the SFL product will be sold for $3.2 million in cash, as well as additional transition licensing income that will total $1.6 million over a five-year period.
Read More →On Jan. 12, 2017, Wheel’s Automotive Dealer Supplies Inc. will begin servicing the certified pre-owned merchandising and marketing needs of Kia Canada’s network of dealers.
Read More →Since 2013, UDAC had been sharing office space with its affiliated auto dealership, Big Deal Auto Plaza. According to Neil Evans, the company’s vice president, the finance source's higher-than-projected growth forced the moved to the new office.
Read More →In two separate announcements, Carvana today announced that it has partnered with Associated Credit Union and LGE Community Credit Union to offer their members access to certified and competitively priced vehicles through an online car-buying experience.
Read More →For the second time in 10 years, the Federal Reserve's Federal Open Market Committee unanimously voted to raise the federal interest rate on Dec. 14. The impact of the rate hike should be minimal for all but one consumer segment, a Black Book analyst says.
Read More →In addition to confirming basic income and employment information, dealers can now use this new verification technology to view an applicant's job tenure, officials said.
Read More →Wholesale prices for vehicles up to eight years in age depreciated more than expected last month, falling 3.3% on a monthly basis. That’s more than double the 1.4% average drop recorded during November the past three years, according to the NADA Used Car Guide.
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Add AutoGravity to the growing list of firms looking to digitize the finance portion of the car-buying process. The fintech firm unveiled today a mobile app that will allow California car buyers to secure vehicle financing or a lease.
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