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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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Priority One Financial Services, an F&I managed services provider for the marine and recreational vehicle (RV) industry, experienced the largest growth of its new dealer partners in the history of the company during the first half of 2009.
Read More →President Barack Obama addressed Wall Street’s financial firms Monday to promote his agenda for financial regulatory reform, which includes expanding the authority of the Federal Reserve and creating the Consumer Financial Protection Agency (CFPA). But at least one association representing the financial services industry is balking at his proposals.
Read More →The average interest rate for new-car loans decreased in July, while the amount financed increased, according to the latest Federal Reserve Statistical Report.
Read More →DebtMarket, a portfolio sales marketplace, and First Associates Inc., a consumer loan servicing firm, have partnered up to provide a new way to sell loan originations and improve loan servicing.
Read More →Automotive loans that are 60 days past due rose by 21.7 percent in the second quarter 2009 compared to the year-ago period, according to Experian Automotive.
Read More →Suzuki Cycles is offering financing incentives to qualified customers on purchases of motorcycles and ATVs through its “Work & Play” sales event.
Read More →Subprime and deep subprime outstanding balances have grown 33 percent in the past three years as consumers continue to migrate to lower credit bands, according to the Experian-Oliver Wyman Q2 2009 Market Intelligence Reports.
Read More →Chrysler Group LLC is offering incentives through Sept. 30 on select 2009 and 2010 model year vehicles. The manufacturer also reported a five percent increase in August sales.
Read More →The industry experienced a drop in the 60-day auto delinquency rate in the second quarter 2009, reflecting a seasonal pattern rather than a change in the current lending environment, according to TransUnion’s quarterly report on auto lending trends.
Read More →Used-vehicle values continued to increase in July, which benefited auto ABS performance by constraining loss severity levels. But loss levels are still expected to increase in the latter half of 2009, consistent with seasonal trends, said Fitch Ratings.
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