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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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Total new-vehicle sales didn't grow for the first time since the Great Recession, but the American International Automobile Dealers Association said last week its member dealers remain optimistic about 2018.
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Cindy Allen has been named CEO of StoneEagle, joining an executive leadership team that includes founder and chairman Bobby Allen and managing partner Brent Allen.
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Underperforming van and car segments led to a decline in J.D. Power's used vehicle price index in November, a reversal from the index's previous three months of consecutive growth.
Read More →Based on an interpretive rule issued by the Defense Department on Dec. 14, including credit-protection products like GAP in a servicemember’s vehicle finance contract could subject it to a slew of restrictions and requirements under the Military Lending Act (MLA).
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Using Paperless Deal Jacket, any form may be signed at the dealership or remotely using the customer’s smartphone. This is facilitated by VisionMenu’s patent-pending vSignature technology.
Read More →About a month after dismissing its former head of consumer lending, Wells Fargo named Mary Mack to the post. The 33-year Wells Fargo veteran will maintain her prior duties as senior executive vice president of community banking, which she has led since July 2016.
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The firm said hurricanes Harvey and Irma had a similar effect on used-vehicle values as the Clash for Clunkers program had on values in 2009.
Read More →The Fair Credit Reporting Act’s ‘business records turnover provision’ requires that business provide free of charge and without subpoena records relating to the theft within 30 days of a victim’s written request.
Read More →RouteOne moved the industry closer to the fully online transaction by executing the first remotely captured, electronic customer signature on an indirect finance contract. The executed contract was booked with Toyota Financial Services.
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Through a partnership with risk-management services provider Assurant, Fair's digital flexible ownership platform now allows consumers to add insurance coverage when they sign for a pre-owned vehicle through its mobile app.
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