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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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American Credit Acceptance and Westlake Financial Services have agreed to pay $7.4 million to Massachusetts consumers to settle the state regulator's charges that they charged excessive interest rates on subprime loans.
Read More →Dealers in Arizona, Hawaii, Michigan, Mississippi, Montana, New Jersey, New Mexico and Wisconsin will soon be able to econtract with Ally through Dealertrack. Ally currently offers econtracting in 42 states, and hopes to complete the expansion over the next several weeks.
Read More →In a joint report issued this week, the two firms said increased supply and incentives will drive higher depreciation in 2016. Auto ABS performance will face pressure, but no material concerns, the firms say.
Read More →Subprime auto loans accounted for 21.7% of all 2015 originations. The firm notes, however, that credit performance remains excellent, a sign that finance sources 'are prudently extending credit to well-underwritten borrowers.'
Read More →GoMoto is taking its showroom customer experience platform online. This week, the firm launched GoMoto Digital, a solution that allows car buyers to begin the purchase process online and then continue the process inside the dealership simply by providing their driver's license.
Read More →NCM Associates' new cloud-based application works with dealership management systems to provide a new way to control cash flow as well as reduce the risk of fraud and financial mismanagement.
Read More →According to Helion Automotive Technologies, Hackers are tricking dealership employees into clicking on malicious emails to gain access to F&I and accounting departments.
Read More →Frustrated with how market perception is affecting the company's stock, Ally management announced this week it will be appointing a new independent director to its board of directors.
Read More →Republicans were expected to lash out at the CFPB during its semi-annual report to Congress, but there were a few unexpected critics from the other side of the aisle as well.
Read More →By 2022, the National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety expect 99% of the U.S. auto market to have automatic emergency braking as a standard feature.
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