An Alabama used-car dealer who failed to decrease an active-duty service member’s loan interest rate before repossessing his car pleaded guilty to violating the Servicemembers Relief Act.
In the first quarter of 2013, 30-day auto loan delinquencies rose 1.3 percent, 60-day delinquencies increased 12.4 percent and repossessions rose 16.9 percent when compared with the previous year.
Failure to disclose consumer protection related to loan defaults and repossessions gets used-car dealer in trouble with Iowa Attorney General’s Office.
Consumers continued to make their auto loan payments on time in the second quarter, with 30- and 60-day delinquencies falling to historic lows.
Windsor Group has purchased Windsor Remarketing, a Fort Worth, Texas-based remarketing management company. Their combined menu of services includes skip tracing, repossession management and remarketing management.
Repossessing a vehicle is never a good thing, but technology has certainly come a long way in helping dealers do just that. The Special Finance Coach discusses how to keep customers on time with their payments, as well as how social-networking sites like Facebook can help when they’re not.
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