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Dealer Satisfaction With Lenders Improves, Survey Says

Lenders who are successful in satisfying automotive dealers by meeting key performance expectations are more likely to capture a greater share of preferred loan applications from their dealer network, according to the J.D. Power and Associates 2010 U.S. Dealer Financing Satisfaction Study.

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Subprime Approvals Lagging Behind, Reports CNW

Auto finance sources continued to favor the less risky lending categories in June, with approval rates for the prime and nearprime categories reaching new highs. The story was different for subprime approvals, which continued their descent from a high in April.

Auto Loan Delinquencies Drop for First Time Since 2007

American consumers are doing a better job of making payments on their auto loans as delinquencies on 30- and 60-day loans fell in the first quarter of 2010, according to Experian Automotive.

Approvals, Pent-Up Demand Continue to Rise, Says CNW

Auto loan approvals continued to pick up in April, the same month pent-up demand reached its highest level since the third quarter 2008, according to CNW Research.

Finance Express Adds Gateway One to Lender Platform

Finance Express, a provider of Web-based financial services and technology for independent auto dealerships, said that Gateway One Lending & Finance (GOLF), a lender specializing in prime and near-prime paper, joined the Finance Express platform.

Safe Bet: Prime-Credit Customers Get Growing Share of Loans

A growing percentage of new-car sales are going to prime-credit customers as banks and other financial institutions look for safer bets, according to CNW Market Research.

Approvals Improve for Prime and Near Prime; Fall for Subprime

Auto loan approvals improved in July for the prime and near prime markets, but shoppers in the subprime market continued their struggle to get approvals by conventional means, according to CNW Research.

Credit Codes Still a Mystery

Not only are lenders staying away from anything subprime, they’re also pushing more consumers toward the used-vehicle market. And with more than $5.7 billion in loans reported 60 days delinquent, Experian Automotive predicts further market volatility.

More Than 700,000 Credit Applications Rejected in 1Q, Says CNW

Despite sales being off by nearly 40 percent from the first three months of last year, credit-application rejections increased 329 percent from the same period last year, according to CNW Research.

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