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Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
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The Office of the Comptroller of the Currency said in its semiannual report that stretching terms and higher advances are a concern. The agency said it will continue to monitor the market and will take action when warranted.
Read More →On Wednesday, J.D. Power completed its acquisition of NADA Used Car Guide. As part of the agreement, J.D. Power will continue to provide NADA members with a complimentary subscription.
Read More →According to proposed consent orders obtained by American Banker, Honda, Nissan and Toyota’s captive finance companies could soon be on the hook for dealer participation policies.
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Experian Automotive's review of the American muscle car resurgence found that Chevrolet Corvette and Dodger Viper buyers tend to pay cash, while the Dodge Charger was the most leased muscle car.
Read More →The NADA official who has spearheaded the association's efforts to protect franchised dealers from federal regulatory overreach will be at Industry Summit 2015 to deliver a keynote address, event organizers announced this week.
Read More →Two auto dealers in Las Vegas agreed to settle FTC charges that they used deceptive ads to promote the sale or leasing of their vehicles, including advertising heavily discounted prices that were not generally available to consumers.
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In a 5-4 vote, the Supreme Court held that disparate impact claims are cognizable under the Fair Housing Act, dashing the hopes of industry insiders who believed a ruling against the controversial legal theory would put a kibosh on the CFPB’s actions in auto lending.
Read More →Protective Asset Protection was named a Platinum winner in the vehicle service contract provider category of Auto Dealer Monthly’s 2015 Dealers’ Choice Awards.
Read More →Kelley Blue Book said today that it expects June sales to total 1.5 million units, which would push first-half and second-quarter sales totals to their highest levels since 2005. The firm also raised its 2015 sales forecast from 16.9 million to 17.1 million.
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Exeter Finance Corp. named Martin Evans as its new executive vice president and chief human resources officer.
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