For dealers and finance companies that specialize in working with consumers with credit scores below 550, May turned out to be a pretty good month for used-vehicle sales. CNW Research found that turns to buyers in this credit segment increased ... [Read More]

Driven in part by the increasing retail price for vehicles, the latest Equifax National Consumer Credit Trends Report showed the total outstanding balance of current auto loans reached a new record high in April. Equifax determined outstanding balances closed April ... [Read More]

Financial services and criminal and civil enforcement defense law firm BuckleySandler recently added the former legal counsel with Ally Financial to its stable of attorneys. Joining the firm as a counsel in its Washington, D.C., office is Marshall Turner Bell. ... [Read More]

In an effort to provide dealers and F&I managers with more educational material so buyers can make better decisions, Americans Well-informed on Automobile Retailing Economics (AWARE) offered five helpful vehicle finance tips for consumers. Those recommendations included: • Budgeting helps ... [Read More]

As the subprime financing market continues to expand, Experian Automotive determined that loan terms continued to lengthen with the average automotive loan term reaching 66 months for the first time. According to Experian’s latest State of the Automotive Finance Market ... [Read More]

Edmunds.com is projecting that seasonally adjusted annual rate for new-vehicle sales this month will increase thanks to the favorable financing conditions that still are in place. Site analysts forecasted that 1,547,771 new cars and trucks will be sold in the ... [Read More]

Here are more numbers showing just how much of a bite regulatory compliance is taking out of franchised dealers’ profitability apple — especially for what it takes to legally operate the F&I office. A new report released by the Center ... [Read More]

The National Automotive Finance Association released the results of its revamped invitation-only member survey this week during its 18th annual Non-Prime Auto Financing Conference. While the survey asked the 22 participating finance companies to complete questions about originations, marketing and ... [Read More]

The Federal Trade Commission said Thursday that Consumer Portfolio Services will pay more than $5.5 million to settle charges that the subprime auto finance company used “illegal tactics” to service and collect consumers’ loans, including collecting money consumers did not ... [Read More]

CNW Research indicated vehicle financing approvals for subprime buyers are down a bit this month compared to a year ago but are up slightly compared to April. The latest edition of the firm’s Retail Automotive Summary showed subprime approvals are ... [Read More]