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Interest Rates Further Squeeze Auto Consumers
Last month’s hike and a potential second increase this month add to a growing list of inflation woes that could continue to dent overall car sales.
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F&I Showroom Magazine
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SEARCHMENUSEARCHLast month’s hike and a potential second increase this month add to a growing list of inflation woes that could continue to dent overall car sales.
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An Ally/Harris survey of U.S. consumers found only 21% had purchased a vehicle service contract, propelling their average five-year maintenance and repair costs to nearly $2,000.
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Six operators of a nonexistent auto finance company have been sentenced to federal prison or probation for fraudulently obtaining $1.7 million worth of loans from banks and credit unions.
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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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