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Subprime originations fell 4.5% from a year ago to 1.841 million in the first quarter, a period in which total outstanding balances topped a quarter trillion, the firm reported.
Read More →Credit unions funded 1.4 million loans through CU Direct’s Lending 360 and CUDL lending platform, generating a record $30 billion in credit union auto loans in 2016 and surpassing the $26 billion in loans the company funded in 2015.
Read More →Fueled by falling gas prices and record new-vehicle sales, Wells Fargo originated a record $31 billion in auto loans for 2015.
Read More →Ally’s second quarter originations were flat from a year ago despite the loss of General Motors’ lease business, with the company shifting its origination mix toward used and nonprime.
Read More →During the month of June, Western Funding funded 906 deals for $11.2 million in contracts — its biggest origination month ever.
Read More →Credit unions are competing aggressively in the automotive marketplace, financing one in four auto loans so far in 2015, CU Direct reports.
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The auto finance industry broke new ground in several reporting categories in the first quarter. But not all records are meant to be broken.
Read More →With subprime auto lending volumes having more than doubled since the 2009 financial crisis, Moody’s expects to see higher credit losses, which have been gradual so far.
Read More →GM Financial reported this week a decrease of about $200 million in North American consumer loan originations for the quarter. But there’s a reason for that, says the company’s chief executive.
Read More →Auto loan originations totaled more than $196 billion in May 2013, representing more than half of all new non-mortgage consumer credit originated in 2013, according to a new report from Equifax.
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