Credit - Tagged Posts - F&I and Showroom

Defaults Pick Up for All Credit Segments Except Auto, S&P/Experian Reports

Auto loans were the only credit segment to experience a decrease in defaults in September, falling to 1.29 percent from August’s 1.31 percent, according to the S&P/Experian Consumer Credit Default Indices.

Asbury Secures $900 Million Credit Facility

Asbury Automotive Group Inc. announced that it has entered into a $900 million credit facility that will provide up to $625 million for new-vehicle inventory floorplan financing and up to $100 million for used vehicle inventory floorplan financing.

CUDL Credit Unions Picking Up the Pace

After hitting a monthly low in March, CUDL credit unions have increased their market share by nearly 2 percentage points, and have maintain a share of more than 17 percent since May, CUDL revealed in late September.

TrueCar Powering Car-Buying Centers for 10 Credit Unions

TrueCar’s Member Showroom platform will power the online car-buying programs for 10 regional credit unions across the country.

2Q Analysis: Below-Prime Goes Prime Time

In the second quarter, finance sources continued their drive down into the high-risk credit tiers and consumers continued to pay on time. But the magazine’s resident finance insider wonders how long those trends can continue in this month’s review of quarterly auto finance trends.

New Credit Growth Highest in Two Years, Equifax Reports

First-half credit growth outpaced the first half of 2010 by $43 billion, with the automotive segment being one of the key drivers, according to Equifax’s National Credit Trends Report.

Lithia Motors Completes New $200 Million Credit Agreement

Lithia Motors Inc.’s new $200 million three-year revolving syndicated credit facility will provide $100 million for new-vehicle floorplan financing and $100 million for general corporate purposes.

Auto Loan Default Rate Up Slightly in August, S&P/Experian Says

Data from the S&P/Experian Consumer Credit Default Indices indicated that the auto loan default rate inched up from July to August.

NCC to Provide Credit Reporting Services for Twin Cities Automotive

National Credit Center (NCC) has partnered with Twin Cities Automotive LLC to provide the Minnesota-based auto group with credit reporting services and credit compliance solutions.

MB Financial Bank, Wolters Kluwer Expand Relationship

Wolters Kluwer Financial Services announced that MB Financial Bank is expanding its use of the AppOne Platform to help with its expansion into personal watercraft and powersports markets.