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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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Edmunds.com predicted today that May sales will reach 1.55 million units. The SAAR is expected to reach 16.2 million.
Read More →Citing an unnamed source, Auto Finance News reported earlier this month that the CFPB is engaged in fair-lending actions against six finance sources. Bureau officials decline to comment.
Read More →CNW reported this week that sales picked up in late May, with the firm expecting deliveries for the month to increase 11% from a year ago.
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Eric Van Eaton will lead all aspects of the company’s loan servicing activities, including collections, customer service, remarketing and post charge-off recovery.
Read More →Since 2011, auto loan debt per borrower has increased 13%, according to Transunion. The firm also reported that delinquencies experienced a sharp drop from 2013's end-of-year quarter.
Read More →Exeter Finance Corp. announced that EFCAR LLC, a wholly owned subsidiary of Exeter, priced $500 million in aggregate principal amount Series 2014-2 automobile receivable backed notes, which will be issued in four separate tranches.
Read More →J.D. Power and LMC Automotive predict the industry will record its highest selling rate this year during May, thanks to anticipated strong sales over the Memorial Day weekend.
Read More →While 60-day automotive loan delinquencies fell nationally, 22 states experienced increases. The sharpest increase occurred in Delaware, where delinquencies jumped by nearly 10%.
Read More →Four providers of biweekly payment providers responded on May 20 to a memo the NADA issued to its members on May 8. They say the association overlooked key benefits when it cautioned dealers about how such products are presented to consumers.
Read More →A memo released by the NADA this week states that the CFPB’s proposed method for eliminating fair lending risk in the auto lending arena would do no such thing. Instead, dealers would still have discretion when it comes to selecting a finance source for their customers.
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