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Originations continued to fall at a faster rate than previous years, as finance sources continued to tighten underwriting standards during 2017’s end-of-year quarter. TransUnion officials, however, say the sector is performing well as the economy remains relatively strong.
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A Hudson Cook attorney told industry trade groups in a Jan. 18 memo that the Defense Department’s Dec. 14 interpretative rule, combined with something else it did in July 2015, makes it ‘highly unlikely that any dealer or finance source will be willing to originate or purchase’ a vehicle finance transaction if credit-protection products are included.
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A new facility at San Francisco Bay’s Port of Benicia will support distribution of vehicles to Volkswagen, Audi, Bentley and Porsche dealers.
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Carvana Curbside creates a new option for the online retailer's users: street-facing garages that house sold used vehicles.
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A new partnership between U.S. Bank and AutoGravity adds a vehicle-financing application and pre-approval component to U.S. Bank’s website.
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Volvo Cars said this week it will add its V60 to its Care by Volvo subscription program when the redesigned station wagon makes its U.S. arrival in 2019.
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The CNCDA reports California dealers closed out 2017 with a marked increase in sales of larger vehicles and a corresponding decline in small-car sales.
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Blinker was founded in 2016 by a team of industry veterans from US Bank, CarMax, GM Financial, and Cox Automotive. With this week’s announcements, the startup is quickly gearing up to take on private-party marketplaces like Craigslist, Letgo, Autotrader, Cars.com and Facebook Marketplace.
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Read More →Credit scores in the fourth quarter of 2017 were only a half a point higher than the median score recorded during the first quarter of 2009. And according to the Federal Reserve Bank of New York, 2017 auto loan origination volume reached the highest level it has ever observed.
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