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Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
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SEARCHMENUSEARCHMost financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
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Hoover Mitsubishi’s Mark Hoover has sued two former employees accused of doctoring auto loan applications, a scheme that led to an FBI raid and the shuttering of the dealership.
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Lease approval ratings improved in July following a slight dip in June, according to the latest report from Swapalease.com.
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J.D. Power’s latest U.S. Dealer Financing Satisfaction Study finds knowledgeable and empowered bank and finance company personnel are critical to building successful relationships with dealers and F&I professionals.
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Citing an increase in bankruptcy filings, OnlineBKmanager.com announced the addition of a full-service mailing option for its active dealer clients.
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Experian’s Ascend platform now includes a loan portfolio modeling tool built in collaboration with Oliver Wyman and designed to help finance sources comply with new current expected credit loss standards.
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The U.S. Department of Justice announced Nissan Motor Acceptance will pay $3 million to settle charges that it unlawfully repossessed 113 vehicles belonging to active military members.
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Black Book’s Used Vehicle Retention Index showed no change overall from June to July, but a closer look reveals ‘very clear trends’ in several key segments.
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Nearly 80% of C-suite finance executives expressed a growing need for artificial intelligence-driven auto loan processing procedures in a survey conducted by Inovatec.
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LendingTree analysts have discovered a correlation between commute times and auto loan balances, finding that car buyers borrow $269 for every additional minute between home and work.
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The average interest rate for a U.S. new-vehicle loan fell below 6% for the first time all year as automakers and dealers extended model-year selldown promotions.
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