Launched in 2016, AutoGravity rapidly expanded from 100,000 users in its first six months to more than one million users less than a year later, according to officials. In 2017 alone, car shoppers have request more than $1 billion in vehicle financing through the fintech firm’s car-buying app.
November 14, 2017
The bureau concedes in its report that consumers are financing larger amounts and are electing for longer-term loans to keep monthly payments affordable. However, the regulator also notes that longer-term loans aren't having the desired effect in terms of default rates.
November 2, 2017
Fastlane offers dealers an Amazon-like checkout process for consumers who want to buy their car online. It has chosen Market Scan to provide its ecommerce platform with real-time payment and rebate information from every car manufacturer, bank and credit union in the country.
October 11, 2017
The bureau released results of a national survey that measures the financial well-being of specific consumer groups as well as the population as a whole. The regulator also announced the release of a new tool designed to allow consumers to measure their level of financial well-being.
September 26, 2017
Sentiment speaks to recent auto finance data showing prime and superprime car buyers shifting toward used, where the average monthly payment was $139 less than the record $504 average monthly payment for new in the second quarter.
September 22, 2017
Despite the nine-basis-point increase, the auto loan default rate remains near levels recorded one year ago. However, declining auto sales and the normal end-of-year push to make room for newer models may encourage easier credit conditions and raise concerns about future defaults.
September 19, 2017
ProMax Unlimited’s John Palmer will present ‘Soft Pull Technology: Best Practices for Both Digital Marketing and Showroom Traffic’ as part of the Special Finance portion of the Industry Summit agenda.
August 29, 2017
Swapalease.com’s second-quarter report shows growing interest in sport utilities, crossover SUVs and sporty models.
August 22, 2017
George Angus, referred to as the ‘Father of the F&I Menu,’ will be at Industry Summit’s F&I Think Tank to take attendees down F&I’s memory lane during a special lunchtime address. They will be entertained and enlightened, as this legendary trainer shares the good, the bad, and the ugly of the F&I profession.
August 17, 2017
With its announced investment, Volkswagen’s captive finance company joins the automotive fintech firm’s mobile car shopping and financing platform. VW Credit also launched its own AutoGravity-powered smartphone app.
July 6, 2017
Industry Summit will once again play host to the Special Finance Conference, the industry’s premier SF training event.
June 22, 2017
UDS’s Brian Crisorio and Auto Dealer Today’s Tariq Kamal will serve as co-show chairs for this year’s Compliance Summit.
June 7, 2017
Car buyers are putting down $504 more on a new-vehicle purchase than they did five years ago. But with buyers purchasing pricier cars and interest rates on the rise, something has to give, Edmunds.com analysis said.
June 5, 2017
Cox Automotive and Holman Enterprises have announced the launch of Flexdrive, a joint venture designed to offer a subscription option to new-car buyers.
June 1, 2017
Executives with the former AmeriCredit Corp. described GM Financial’s transition to General Motors’ captive finance source as ‘substantially complete’ during its recent first-quarter earnings call.
May 11, 2017