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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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A new report from Credit Union Direct Lending (CUDL) shows that the firm’s affiliated credit unions collectively represented the United States’ No. 5 source for auto loans in 2009.
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Consumer loan delinquencies fell in eight of 11 loan categories in the fourth quarter of 2009, marking the second quarter in a row of broad-based improvement, according to the American Bankers Association's Consumer Credit Delinquency Bulletin.
Read More →Chase and Mazda North American Operations have signed a multi-year private-label agreement under which Chase will be the exclusive U.S. auto finance provider for Mazda, operating under the brand name Mazda Capital Services.
Read More →Prime and near-prime auto loan approvals last month reached levels not seen since March 2008, according to CNW Research. Subprime approvals also showed gains, but approvals for the segment are still rebounding after dropping to record lows in November and December.
Read More →GMAC Financial Services today announced that it will provide consumer financing for recreation vehicles and has been selected by Thor Industries as the preferred financial provider for its retail customers.
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The mood at this year’s Vehicle Finance Conference was much improved, and lenders are looking to become active once again. However, they will do so with more caution this time around.
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The auto finance market continued to stabilize in the fourth quarter, as the crash of 2008 continues to become a distant memory. New financing, however, will remain the domain of the prime and superprime tiers in the months to come.
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Contrary to popular belief, there is a market for customers going through a bankruptcy. The Special Finance Coach provides marketing tips, plus a couple of lenders that can help.
Read More →A+ Federal Credit Union (A+FCU) is expanding its relationship with Wolters Kluwer Financial Services by joining the company’s AppOne platform.
Read More →The one obstacle that could hamper the return of the auto finance market moved one step closer to becoming reality after the Senate Banking Committee voted yesterday to approve Senator Christopher Dodd’s (D-Conn.) new finance reform bill.
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