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Fear of the economy’s slow recovery, snow in the Eastern region of the country and a negative job report not only stalled February auto sales, but it also led to a three-month low in borrowing, according to the Federal Reserve’s February report.
Read More →Finance Express, a provider of Web-based financial services and technology for independent dealerships, announced today that it has added Wachovia Dealer Services to its platform.
Read More →Wolters Kluwer Financial Services announced today that MB Financial Bank has joined its AppOne platform to automate and help simplify loan processing for motorcycle dealers.
Read More →Consumer credit dropped 8.5 percent in November 2009, the lowest figure of the year, according to the Federal Reserve’s monthly report.
Read More →Consumer credit decreased at an annual rate of 3.3 percent in the third quarter and continued to decline in October, according to the Federal Reserve’s monthly report.
Read More →Despite continued economic struggles, the automotive lending industry in the U.S. showed signs of stabilization during the third quarter 2009, according to a quarterly analysis of automotive credit by Experian Automotive.
Read More →Consumer credit patterns returned to their status quo in September, with interest rates, loan terms and loan-to-value ratios reverting to their pre-Cash for Clunkers (C4C) levels, according to the Federal Reserve’s monthly report.
Read More →Attributing its third-quarter decline in auto loans to a retrenchment and repositioning of its auto finance business, Capital One reported a 3.3 percent decline in auto loans last Thursday — the same day the McLean, Va.-based company reported a 14 percent increase in third-quarter profits.
Read More →Driven mainly by its investment banking division, which offset losses on credit cards and consumer loans, JP Morgan Chase reported strong earnings for the third quarter 2009. As for its auto finance segment, originations were up 82 percent.
Read More →The average interest rate for new-car loans decreased in July, while the amount financed increased, according to the latest Federal Reserve Statistical Report.
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