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The economic downturn has put more than $25.5 billion in auto loans at risk, but there were some signs of improvement. Experian Automotive’s director of automotive credit gives her take on what continues to be an unpredictable market.
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Wells Fargo Preferred Capital, a subsidiary of Wells Fargo & Company, recently provided a $50 million senior credit facility to Automotive Credit Corporation (ACC), an indirect auto finance company.
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The Sames family name has been a staple in the Laredo, Texas, community since 1910. But in a market like today’s, reputation alone won’t get it done. That’s why this fourth-generation dealer is counting his blessings for entering the world of in-house financing.
Read More →Legal columnist Thomas B. Hudson reviews five items a dealership's related finance company should have in place before it begins buying contracts.
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 →Ducati and FreedomRoad Financial have launched Forza Ducati, a new retail financing program for the entire range of Ducati models. In addition, the motorcycle manufacturer is offering trade-in allowances and a one-year service program to eligible customers.
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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 average interest rate for new-car loans rose slightly in April, while the amount financed increased, according to the latest Federal Reserve Statistical Report.
Read More →A legislative proposal heard this week by a U.S. House of Representatives subcommittee directs the Federal Trade Commission (FTC) to issue new rules that would have significant ramifications for the auto finance industry, says the chief federal government affairs official for the American Financial Services Association (AFSA).
Read More →The average interest rate for new-car loans continued to drop in March, while the amount financed increased, according to the latest Federal Reserve Statistical Report.
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