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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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Subprime auto lender AmeriCredit Corp. released its quarterly finances for the first time following the announcement of its impending acquisition by General Motors Co. The company was able to increase both income and originations while decreasing charge-offs and delinquency rates compared to the same quarter last year.
Read More →Ally Financial Inc. (Ally) said in a preliminary report that it achieved its second quarter of profitability, as well as its sixth profitable quarter for its core automotive business.
Read More →Lenders who are successful in satisfying automotive dealers by meeting key performance expectations are more likely to capture a greater share of preferred loan applications from their dealer network, according to the J.D. Power and Associates 2010 U.S. Dealer Financing Satisfaction Study.
Read More →Further evidence that losses from failed loans may have peaked in the first half of 2010 was revealed as the nation’s largest banks issued their second-quarter report cards.
Read More →RouteOne announced its replacement for departing Chief Information Officer Joel Gruber, who is leaving the company at the end of July to pursue a new career opportunity.
Read More →Fair Isaac Corp.’s latest figures indicate that more than 43.4 million Americans now have a FICO score of 599 or less. That's more than one-quarter of all U.S. consumers and an increase of 2.4 million since 2008.
Read More →Ford Motor Company and Ford Motor Credit both reported second-quarter profits last week, improving on the results from the year-ago period.
Read More →With President Obama’s signature, the most significant overhaul of the nation’s financial system is now law and with it, consumers will still be able to find competitive financing options at auto dealerships.
Read More →To meet customer demand for leasing and non-prime financing for GM vehicles, General Motors and AmeriCredit Corp. announced July 22 that they entered into a definitive agreement for GM to acquire the subprime auto finance company in an all-cash transaction valued at approximately $3.5 billion.
Read More →Consumers are expected to remain conservative in today’s still struggling economy, with most in-market shoppers expected to spend a relatively small amount of money on their next vehicle purchase, according to a recent survey. In fact, most respondents said they are more like to buy used vs. new.
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