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With government regulators keeping a close eye on the auto finance industry, Finance Express unveiled a new online system designed to help finance sources expedite recovery of ancillary product cancellation refunds.
Read More →Swapalease.com released a new study that shows a majority of customers aren’t interested in car-sharing services or autonomous driving. What they do want is lenders bidding for their business.
Read More →The bank’s dealer services division responds to the reported cap the finance source has placed on subprime auto originations.
Read More →In 2014’s fourth quarter, the percentage of new vehicles purchased with financing increased over the previous year to reach 84%, according to Experian Automotive’s latest State of the Automotive Finance Market report.
Read More →Consumers are back in the borrowing business, with November consumer credit data from Equifax showing that nonmortgage credit balances rose to their highest level in five years.
Read More →Manheim selected Shane O’Dell to serve as senior vice president of wholesale service, a new role within the company. O’Dell has worked in the vehicle finance industry since 1995.
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F&I and Showroom delves into a new study commissioned by the American Financial Services Association. It concludes that the CFPB’s use of the BISG proxy method is “conceptually flawed” and could lead to overstatement of alleged harm to consumers.
Read More →The CFPB published its proposal rule to oversee larger participants in the nonbank auto finance segment in the Federal Register last week, kicking off a 60-day public comment period that ends on Dec. 8.
Read More →The two firms have partnered on a new solution for dealers that is designed to resolve “stips” raised by their finance sources, allowing them to instantly verify income and employment information.
Read More →According to the latest report from Experian Automotive, interest rates for auto loans fell to an all-time low in the third quarter, while the average amount financed reached its highest level since 2008.
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