Borrowers and lenders alike are wondering who has the capacity to pay and how resilient is this capacity? Institutions that make the most of insight, simulated analysis and strategic action delivered via omni-channel functionality will establish disproportionate resilience in these uncertain times.
August 19, 2020
Fears that F&I would fall victim to advancing technology and bad press appear unfounded as the segment continues to perform for dealers and car buyers.
May 8, 2019
Despite escalating new-car prices and plateauing sales, NADA analysts report little change to American dealers’ per-copy average, penetration rates, and F&I income as a percentage of gross profit in 2018.
April 16, 2019
Executives say the new program, which is designed for car buyers with a 750 FICO or better, is part of the finance source's push to become a one-stop shop for every dealership.
March 7, 2018
Based on TransUnion’s CreditVision trended data, FICO Auto Score 9 XT is specifically designed for the auto finance marketplace. The scoring system ignores paid off collection agency accounts, separates unpaid nonmedical accounts that have gone into collection from unpaid medical accounts in collections, and provides a deeper dive into consumer behaviors.
June 9, 2016
Results of a survey conducted by FICO revealed that Millennials still seek the freedom and the convenience of owning their own car. They just don't want to finance their next purchase through a dealership.
March 10, 2016
Issuing adverse action notices for every deal can result in righteous indignation from prime-credit customers. AFIP chief offers a primer on when to send notices and when to keep them to yourself.
March 4, 2016
Designed by FICO, CU Direct Connect’s new auto-loan risk score will help credit unions make more profitable auto-lending decisions. The new feature will be available in 2015’s third quarter.
August 19, 2015
Ally Financial Inc. will begin piloting in February a new program designed to provide customers with free access to their FICO score. The company expects to fully launch the new service this summer.
January 13, 2015
New York Gov. Andrew Cuomo is demanding that credit bureaus give special allowances for Hurricane Sandy victims. The credit reporting agencies, however, say they are already doing their part.
May 2, 2013
The continued loosening of credit standards is helping franchised dealers move those high-mileage trade-ins, with CNW predicting that used-vehicle sales in October will top the year-ago period by 8.1 percent.
October 25, 2012
Subprime approvals are climbing, which could bode well for the rest of the year. But dealers will have to beef up their marketing to get more buyers off the sidelines.
August 24, 2012
A new study from FICO reveals that bank risk managers expect the auto sector to see the biggest increase in loans made to subprime consumers.
July 10, 2012
The full-spectrum finance source has reduced its programs from four to three, and transitioned them from structure-based to FICO-based programs.
July 3, 2012
Consumers were back on the sidelines for the first 15 days of July, according to CNW Research, as car buyers continued to wait for the expected increase in incentives after the summer months.
July 19, 2011