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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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Ally Financial Inc. announced on March 2 that the U.S. Department of the Treasury will be repaid $2.7 billion from the sale of all the Trust Preferred Securities that the Treasury holds in Ally. This represents the full value of the Treasury's investment in these securities.
Read More →Automotive credit continued to strengthen in the year-end quarter of 2010, as 30- and 60-day delinquencies exhibited sharp declines, according to Experian Automotive's quarterly analysis.
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It’s clear that lenders and dealers are feeling good about the road ahead. The two sides met at the 2011 Vehicle Finance Conference to reaffirm the importance of their relationship.
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Mercedes-Benz Financial Services is taking its mobile strategy where no organization has gone before, but officials say the company won’t push its vision of the future on dealers.
Read More →Prestige Financial will expand its subprime lending programs to dealerships in Alabama, Hawaii, Kansas, Kentucky, Montana, New Jersey, Wisconsin and Wyoming.
Read More →Monthly default rates across all credit lines declined in January, according to the Standard & Poor’s and Experian's Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults.
Read More →GM Financial’s rollout of a prime leasing program in 16 states may seem to indicate that the company formerly known as AmeriCredit is leaving its roots behind. Company officials, however, maintain that the former subprime finance company is merely sticking with the game plan General Motors set forth when it purchased the company last October: fill the finance gaps.
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Capital One has named Kevin Borgmann as the new president of its auto finance unit. In an exclusive interview with F&I and Showroom, he shared his goals for Capital One Auto Finance in 2011 and beyond.
Read More →New-vehicle sales are off to a strong start in February because of better floor traffic and closing ratios, as well as a looser credit market, according to CNW’s Retail Automotive Summary.
Read More →A survey by Wolters Kluwer Financial Services finds that a majority of U.S. financial institutions expect their consumer lending businesses to grow or remain steady in 2011.
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