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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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Edmunds reports loan interest rates sustained near-record highs in July as automakers make the shift away from traditional summertime financing deals.
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Bob Harkins will serve double duty at this year’s Industry Summit, serving as master of ceremonies for Compliance Summit and P&A Leadership Summit.
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The advisory board for the sixth annual P&A Leadership Summit includes executives from leading F&I product providers and administrators.
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Capital One announced gains in its auto finance division even as directors acknowledged increasing competition in the subprime space.
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Wells Fargo's continued runoff of its auto loan portfolio resulted in a $10.3 billion year-over-year decline in auto loan balances in the second quarter, but executives said the bank is positioned to begin growing its auto finance business once again.
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Fiat Chrysler Automobiles has named Ram truck and Jeep head Michael Manley as its chief executive officer, after medical complications forced Sergio Marchionne to step away from the company.
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Co-founded by Dealer.com founder Mike Lane, Fluency is a business-to-business ad platform provider for industry-focused digital advertising and marketing agencies.
Read More →Peter Jacobson, formerly with Toyota Financial Services, has joined Portfolio as a reinsurance specialist.
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Industry Summit’s annual ‘From the Boardroom’ session will feature executives from F&I product providers and software firms, who will tackle the big questions facing F&I offices as the industry continues to push for a more digitized car-buying experience.
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June wholesale prices for used vehicles up to eight years in age fell by an average of 0.9% compared to May. Losses at the segment level were less than historic norms across the board on both the mainstream and premium sides of the market, the firm said.
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