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Automotive loans that are 60 days past due rose by 21.7 percent in the second quarter 2009 compared to the year-ago period, according to Experian Automotive.
Read More →The industry experienced a drop in the 60-day auto delinquency rate in the second quarter 2009, reflecting a seasonal pattern rather than a change in the current lending environment, according to TransUnion’s quarterly report on auto lending trends.
Read More →The NAF Association’s annual survey revealed the stress finance companies felt heading into 2009, but it also illustrated a firmer grasp of what was at stake. The question is whether this understanding will make financing widely available again.
Read More →Auto loan approvals improved in July for the prime and near prime markets, but shoppers in the subprime market continued their struggle to get approvals by conventional means, according to CNW Research.
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Not only are lenders staying away from anything subprime, they’re also pushing more consumers toward the used-vehicle market. And with more than $5.7 billion in loans reported 60 days delinquent, Experian Automotive predicts further market volatility.
Read More →The automotive finance industry experienced a drop in the 60-day auto delinquency rate in the first quarter 2009, reflecting a seasonal pattern rather than a reversal of the trends associated with the current lending environment, according to TransUnion’s quarterly report on auto lending trends.
Read More →A struggling economy and stricter lending criteria have pushed more consumers toward used vehicle loans, according to Experian Automotive.
Read More →The Leedom Group's two latest financial products, ACH Collector and the Leedom Convenient World Prepaid Visa Card, are now offered through Finance Express, a provider of Web-based dealer management systems and technology solutions for auto dealerships.
Read More →GMAC Financial Services today reported a first quarter 2009 net loss of $675 million, compared to a net loss of $589 million in the first quarter 2008.
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By the end of 2008, more than $7 billion worth of automotive loans were 60 days delinquent. Experian market analyst tracks the single-most challenging year for auto finance and provides her take on the road ahead.
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