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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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The auto finance industry is showing signs of improvement as direct and indirect auto loan delinquencies both dropped in the third quarter 2009, according to the American Bankers Association.
Read More →Fitch Ratings has upgraded the issuer default rating for Ford Motor Company and Ford Motor Credit Company to 'B-' from 'CCC'; the outlook remains positive.
Read More →GMAC Financial Services issued an update Friday on its efforts to provide nearly 1,500 Chrysler dealers with wholesale financing.
Read More →Fitch Ratings has lifted the moratorium on rating auto dealer floorplan transactions and published a revised Global Dealer Floorplan (DFP) ABS criteria report. It supersedes, in its entirety, the reports titled “Rating Criteria for U.S. Dealer Floorplan ABS”, dated May 14, 2008 and “European Auto Dealer Floorplan ABS Criteria”, dated Feb. 6, 2008.
Read More →Friendly Finance Corp. isn’t just friendly to buyers with bankruptcies on their records. The company also works with people who are still in the midst of one.
Read More →GMAC Financial Services announced a series of actions intended to strengthen the company's capital base, position it for improved financial performance, minimize further adverse effects on GMAC related to Residential Capital LLC (ResCap), and improve access to the capital markets over time.
Read More →Although its key index remains above the expansion level, the National Association of Credit Management (NACM) said its December Credit Managers’ Index matched the mood of the economy as a whole – essentially flat.
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Experian's director of automotive credit says there were a few signs in the third quarter that automotive finance is on the rebound.
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Despite signs of retail financing beginning to loosen up, dealer financing remains a major concern. It’s one of the reasons why the NADA is stepping up efforts to restart the market.
Read More →Annualized net losses (ANL) on U.S. auto ABS rose again in November in a trend likely to continue into 2010, according to Fitch Ratings.
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