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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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This month, the Department of Justice issued a subpoena to Consumer Portfolio Services requiring the finance source to turn over documents related to subprime auto finance.
Read More →J.D. Power and LMC Automotive expect the industry to realize its best January for new-vehicle sales since 2004, with the firms projecting sales of 932,000 units.
Read More →The technology firm said it more than doubled its econtracting volume in 2014 to 1.55 million contracts processed.
Read More →Experian’s new Auto Equity Model helps users estimate a consumer’s vehicle equity on an existing auto loan.
Read More →The total balance of auto loans in December 2014 was $975 billion, representing 33.2% of total outstanding non-mortgage consumer debt, according to Equifax.
Read More →AFIP’s executive director reminds us why the word “best” should be avoided when discussing financing or lease rates with customers.
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A rise in delinquencies wasn’t cause for concern during the third quarter 2014, and all signs point to auto finance sources staying active in the quarters ahead.
Read More →Installment loan delinquencies fell to a record low in the third quarter, with auto loans originated through auto dealers falling from 1.55% in the year-ago period to 1.51%
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It was a tale of two departments at Industry Summit, where dealers, technology execs and F&I trainers discussed the progress made by sales and F&I teams to convert and finance Internet shoppers.
Read More →Ally Financial Inc. will begin piloting in February a new program designed to provide customers with free access to their FICO score. The company expects to fully launch the new service this summer.
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