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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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Wells Fargo’s first-quarter earnings call was staged amid a string of regulatory concerns, declining auto originations, and the sale of a Puerto Rican subsidiary. But the company’s chief executive said the bank’s auto finance business will grow again.
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The announcement marks Rowe's return to the company where he started his digital marketing career nearly 20 years ago. It also marks his return to the car business.
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The subprime finance source’s president since April 2007 will retire on June 30, CEO Brett Roberts announced in a recent regulatory filing.
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U.S. Senate Banking Committee Republican Pat Toomey said on Tuesday the panel plans to scrap the CFPB’s guidance on dealer participation and leverage lending.
Read More →According to a report in The Wall Street Journal, the review of GAP refunds the bank initiated last year has expanded to other F&I products and services.
Read More →NextGear Capital has introduced ‘Rapid Pay,’ a new feature designed to help dealers initiate the vehicle funding process before the title is received.
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Twenty-four-year automotive finance industry veteran Kevyn Rails has joined Innovate Auto Finance as vice president of portfolio acquisitions.
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Fourth-quarter loan balances reached an all-time high for the third year in a row, but records broken for amounts financed and monthly payments raise affordability concerns.
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Thanks to strong SUV sales, March's average transaction price rose $703 from a year ago to $35,285, the firm said this week.
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When installations are completed in mid-July, Hendrick Automotive Group will be the largest single user of Reynolds’ docuPAD system in the United States.
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