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Auto Loan Terms

Edmunds: Auto Loan Interest Rates Climb Back to Pre-Recession Levels

With September in the books, Edmunds reported this week that interest rates have stayed above 5% for eight months in a row and now mirror levels not seen since before the Great Recession.

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Tracking the Subprime Retreat

Finance sources responded to the recent uptick in delinquencies by moving upstream in the first quarter, pushing subprime lending to a 10-year low.

Stretched Thin

The average household is on the verge of being priced out of the new-vehicle market, Experian’s fourth quarter data shows.

Rising GAP Claims Reveal Troubling Trends

GAP rates are on the rise. Insiders say dealers should welcome the increases, adding that the performance of this core F&I product points to a severe slowdown in the next 24 months.

High New-Vehicle Prices Drive Auto Finance Industry to New Highs in Q1

The industry smashed several records in the first quarter thanks to high new-vehicle prices, but stretching terms and leasing weren’t the only ways consumers sought payment relief.

Driving the Metal

New-vehicle registration volume returned to pre-recession levels in the third quarter thanks to a creative and willing auto finance market.

Banking Regulator Issues Warning to Auto Finance Industry

The Comptroller of the Currency warned in a speech delivered yesterday that the pace of auto lending reminds him of the mortgage industry in the run up to the 2009 financial crisis.

Black Book Identifies Underwriting Strategies for Lenders

In order to manage risk levels and achieve ongoing profitability, lenders need to use collateral and residuals in the underwriting process. That’s according to a new whitepaper from Black Book’s Lender Solutions division.

Payment Gap Between New and Used Hits All-Time High in Q2, Experian Reports

The rise in new-vehicle prices continued in the second quarter, with more consumers turning toward the used market and leasing. Loan terms also continued to stretch.

Used-Car Prices Hit Record High in Second Quarter, Edmunds Reports

Shoppers were increasingly drawn to “near-new” used vehicles with higher price tags in the second quarter, with the average price of a used car increasing 8% from last year, according to Edmunds.