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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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Standard & Poor's Ratings Services said that it lowered two credit ratings for AmeriCredit Corp., saying the auto finance company faces further deterioration in its loan portfolio.
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Not only are lenders staying away from anything subprime, they’re also pushing more consumers toward the used-vehicle market. And with more than $5.7 billion in loans reported 60 days delinquent, Experian Automotive predicts further market volatility.
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The current market environment will definitely separate the survivors from the victims. F&I expert provides a road map for doing more than just weathering today’s economic storm.
Read More →The Obama administration’s proposal for reform of the financial system, which was introduced June 17, could pose a threat to securitization, says ratings firm DBRS.
Read More →DealerTrack Inc. announced Monday that the number of active financing sources connected to the DealerTrack network has reached 750.
Read More →Wolters Kluwer Financial Services said that Credit Union Acceptance Company (CUAC), a credit union service organization that represents 130 credit unions in the indirect auto finance market, has joined its AppOne credit union platform.
Read More →The U.S. Small Business Administration (SBA) has announced a Dealer Floor Plan (DFP) financing pilot program under the SBA 7(a) loan program for qualifying small businesses including new and used motorcycle, automobile, RV, manufactured home, and boat dealerships.
Read More →In a move that expanded its role in the buy-here pay-here industry, CarBiz Inc. announced that it acquired the Star Financial Services portfolio of consumer notes.
Read More →Standard & Poor's Ratings Services lowered its ratings and revised its outlooks on 22 rated U.S. banks.
Read More →Triad Financial and Windsor Group have formed a partnership to help grow Triad’s third-party servicing business, which supports finance companies, banks, investors and auto dealers.
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