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Open Dealer Exchange LLC has formed an agreement with Crescent Bank & Trust (CB&T) to integrate the lender directly within the dealer management system (DMS) during the loan approval process.
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Things are still challenging for below-prime customers, but the middle tiers are beginning to show signs of life, Experian Automotive reveals.
Read More →The latest figures from CNW Research indicate that car buyers with FICO scores below 619 are still having a tough time obtaining new and used financing.
Read More →Through a new partnership, Friendly Finance Corporation and www.OnlineBKmanager.com have developed the “No Charge BK” marketing campaign for dealers who register with Friendly Finance.
Read More →The performance of U.S. auto loan ABS is starting to exhibit seasonal negative trends, according to the auto loan ABS indices results from Fitch Ratings.
Read More →Automotive loan delinquencies dropped during the second quarter this year, marking the second consecutive quarter with a year-over-year decrease in quarterly delinquencies, according to Experian Automotive.
Read More →Subprime auto lender AmeriCredit Corp. released its quarterly finances for the first time following the announcement of its impending acquisition by General Motors Co. The company was able to increase both income and originations while decreasing charge-offs and delinquency rates compared to the same quarter last year.
Read More →Lenders who are successful in satisfying automotive dealers by meeting key performance expectations are more likely to capture a greater share of preferred loan applications from their dealer network, according to the J.D. Power and Associates 2010 U.S. Dealer Financing Satisfaction Study.
Read More →Auto finance sources continued to favor the less risky lending categories in June, with approval rates for the prime and nearprime categories reaching new highs. The story was different for subprime approvals, which continued their descent from a high in April.
Read More →Chase Auto Finance recently opened a full-service Custom Finance Business Center in Richmond, Va., to help dealers provide financing solutions for subprime customers.
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