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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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NextGear Capital announced that founder and floorplan financing innovator John Fuller has died at the age of 75.
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Wells Fargo President and CEO Tim Sloan will retire effective June 30, ending an era marked by a series of scandals that rocked the company’s auto, home, and consumer banking divisions.
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Two consumer credit giants have partnered to launch the Data Decisions Cloud, a new data and analytics suite designed to speed credit decisioning for auto finance sources.
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Maritz and Northwood University announced a program designed to develop the next generation of automotive industry leaders through student internships, guest lectures, and a new scholarship.
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Wantalease.com reports sharp drops and steep increases in average new-vehicle lease payments for March, including aggressive pricing for the Chevrolet Traverse and Ford Fusion.
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PassTime and Solutions by Text have partnered to deliver SBT’s SMS text-powered software suite to PassTime dealers.
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Swapalease reports credit approval rates on its online marketplace dipped slightly in March, but traffic is up as consumers encounter high lease prices at dealerships.
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FICO’s second annual survey of auto finance customers finds the United States and Canada atop the dealer-arranged financing rankings even as the number of auto loans originated online jumped from 5% to 13% year-over-year.
Read More →PassTime and AFS Dealers have completed a software integration designed to allow BHPH and LHPH dealers to manage multiple facets of their businesses on one interface.
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Speakers at the American Financial Services Association’s 2019 conference brushed off any suggestion of a recession striking the U.S. economy this year but admitted affordability, rampant fraud, and new regulatory concerns could create headwinds.
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