Bank of America is piloting new enhancements to its mobile banking technology that will allow clients to complete the auto financing process directly with the bank on a mobile device.
General Motors should gain market share by replacing 88% of its light-duty lineup by 2020, while Volkswagen and Korean automakers are relying too heavily on cars with consumer demand shifting toward SUVs and trucks, a Bank of America Merrill Lynch analyst has said.
More than $5 billion in auto asset-back securities sales were made on Wednesday, providing more proof that investor demand for auto bonds remains high.
Connecting F&I to the digital world was the talk at the annual dealer and lender conventions last month, and opinions varied on what the F&I office of the future will look like.
At the magazine’s annual conference, finance executives reflected on the trends that defined 2011 and reaffirmed their commitment to the indirect lending channel in the year ahead.
Bank of America and DataScan Field Services have launched a new Website that will provide used-car buyers with everything they’ll need to complete a vehicle purchase online.
The auto finance marketplace is heating up, but executives from six top finance sources said there’s more at play than simply a race for market share.
The specialty consumer finance company announced that it has increased its credit line to $150 million to help continue its expansion strategy over the next few years.
Ally Financial seized on a market buoyed by new loan originations to claim the title of largest auto finance company in the United States in 2010, according to the new Auto Finance Big Wheels annual ranking of car lenders and lessors.
According to a new Kelly Blue Book Market Intelligence Survey, 64 percent of new-car shoppers say they plan to research their financing options on the Web. The vehicle information site also announced that it has entered into exclusive partnerships with Bank of America and Autobytel Inc.'s Car.com to offer prime and subprime financing to visitors of KBB.com.
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