Although the average interest rate on a new-vehicle loan is expected to drop year over year, analysts say rates will hit 3-month high as automakers curtail promotional deals, 0% finance offers.
Kasasa, LTD. adds value to their financial technology and marketing services platform through its new partnership with Carleton, Inc.
Buy-here, pay-here auto financing company OnPoint launched a new lending program, 30/30, which eliminates the buy-back requirement on repossessed vehicles.
Auto loan origination activity this year is the strongest it has been for banks since 2006, with new credit generated during January and February totaling $141 billion.
Usage of Shastic’s social loan calculator is picking up, with the Berkeley-based company expanding its client base by 66 percent in the first quarter of 2013. Auto loans so far account for 49.4 percent of usage of the company’s Calcubot.
CNW Research says refinancing is back, and predicts that the percentage of refinanced auto contracts will top 14 percent in 2013.
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