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Credit card down payments, multiple vehicle purchases and even straw purchases can be completed without committing bank fraud, as long as you tell the bank first.
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The average auto loan balance per consumer in the second quarter grew 2.7% from a year ago to a post-recession high of $18,177, according to TransUnion. Delinquencies were also up, although the firm said there’s no cause for concern.
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A new study shows that consumers aren’t just interested in buying cars from their smartphones, they’re interested in completing the F&I process as well. The study was commissioned by Roadster, a company that offers that type of experience.
Read More →Wholesale prices for vehicles up to eight years in age fell 2.3% in July, tying June for the biggest drop recorded so far this year, according to the NADA Used Car guide. As a result, the firm lowered its seasonally adjusted used vehicle price index 1.1% to 118.9 .
Read More →The Consumer Financial Protection Bureau’s small-dollar lending rule would neither adequately protect borrowers, nor address the risks created by the shift toward installment credit in the payday and auto title lending market, an analysis by Pew Charitable Trusts concludes.
Read More →While speed is no longer a leading factor, it still plays a significant role, according to J.D. Power's 2016 U.S. Dealer Financing Satisfaction Study. The finance sources leading the way in terms of dealer satisfaction were Mercedes-Benz Financial Services and BMW Financial Services.
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ADESA named Steve Swanson general manager of its Colorado Springs location, Cindy Kuhn regional online manager, and Rich Levene general manager of ADESA Austin.
Read More →Organizers of the upcoming Industry Summit have announced that registered attendees, exhibitors, and sponsors are invited to the Certified Automotive Compliance Specialist review session and exam that concludes the co-located Compliance Summit on Tuesday, Aug. 30.
Read More →The master agent, which operates in 33 states, will distribute 700Credit’s credit reports, compliance and prescreen products and services.
Read More →Jim Radogna, a San Diego-based compliance expert and trainer, will serve as the luncheon speaker at the upcoming Compliance Summit, organizers announced Thursday.
Read More →J.D. Power named Jim Houston senior director of its auto finance practice. The 30-year auto finance veteran will help guide the industry through a potentially volatile period of new-vehicle sales and declining used-car values, the firm said.
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