Economic headwinds are not deterring sales, Cox Automotive analysts find.
There are five key credit determinants that lending institutions take into consideration when making the decision to extend credit.
TransUnion Global Payment Hierarchy Study observes consumer credit behavior in five countries.
Lease credit approvals reached 70.8% in February; Up slightly from 68% in January.
Fourth-quarter loan balances reached an all-time high for the third year in a row, but records broken for amounts financed and monthly payments raise affordability concerns.
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.
Transunion projects the auto loan delinquency rate for consumers with payments 60 or more days past due to close the year at 1.4%, the highest level since year-end 2009. Even with this increase, TransUnion said delinquency rates will remain well below levels observed during the last recession.
Not only do women have higher credit scores and less debt than men, according to a new report from Experian, they are more likely to purchase a more functional, utilitarian vehicle than their male counterparts.
RouteOne Canada has announced that Desjardins Group has joined its auto financing portal. Dealers accredited with the cooperative financial group can access credit services, and process credit applications and finance contracts through RouteOne’s platform.
CreditMiner has partnered with Flick Fusion to incorporate its real-time soft credit-pull technology with Flick Fusion’s online and mobile video platform.
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