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Smaller Loans, Longer Terms
The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
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SEARCHMENUSEARCHThe youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
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William “Bill” Berman, who is credited with developing AutoNation's processes for used-vehicle sales and customer care, has resigned. Chairman and CEO Mike Jackson has assumed his duties until a replacement is named.
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The F&I product provider helped raise more than $59,000 for the Cleveland Christian Home’s annual 5K and Run for the Kids event. In total, the event raised more than $72,000 to support the organization’s 17-plus community outreach programs.
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Analysts with Swapalease.com report lease approvals fell from more than 75% in March to 60% last month.
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Launched in April, Clearlane will soon be getting an upgrade. Through eOriginal, the auto finance marketplace will soon allow car buyers to sign and submit their financing documents online or via mobile devices.
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Executives with the former AmeriCredit Corp. described GM Financial’s transition to General Motors’ captive finance source as ‘substantially complete’ during its recent first-quarter earnings call.
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The captive insurance provider has added Derek Thomas to its team. He is responsible for serving the firm’s clients with an emphasis on enterprise risk programs.
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The impact of wider access to credit on repayment rates could be causing auto finance sources to reevaluate their guidelines for subprime and nearprime borrowers.
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Bill Katafias, a longtime retail credit executive for Wells Fargo Dealer Services, has joined CRB Auto as its new CEO. He succeeds Scott Raymer, who previously announced his resignation from his CEO post to pursue other opportunities.
Read More →The merger creates what officials describe as the largest vehicle service contract payment plan provider in the United States. The new entity will operate under the PayLink Direct brand. Rebecca Howard, cofounder of PayLink Direct, will serve as CEO.
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The partnership with TrueCar was one of a series of announcements made by the ecommerce site, which debuted an improved look to its website and tire installation services.
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