SANTA MONICA, Calif. — Edmunds.com recently discovered that lenders handed out the lowest-ever average annual percentage rates on their auto loans in December. Site analysts found the average auto loan carried an APR of 4.16 percent, down 0.33 points from November and 0.55 points ... [Read More]

COLUMBUS, Ohio — In a discussion of Huntington Bancshares fourth-quarter results, management revealed that average consumer loans climbed by $500 million, driven largely by a $400 million uptick in average auto loans and leases. Auto loans and leases are up 7 ... [Read More]

ARLINGTON, Texas —  SFG Finance — an active purchaser of auto finance receivables — revealed recently it has launched a contest for its brokers in an effort to ramp up funding and incentives. So, what’s the grand prize? SFG announced ... [Read More]

ATLANTA and MONTREAL — For buy-here, pay-here dealers looking for an alternative to conventional purchasing and title conversion, iMetrik Automotive Solutions thinks it might have the answer. The company recently announced a new program called Pay Share that allows dealers to ... [Read More]

NEW YORK — Last year finished strong in regard to consumer credit defaults — especially auto loans — according to December data connected with the S&P/Experian Consumer Credit Default Indices. Produced by Standard & Poor's and Experian, the readings showed auto loans ... [Read More]

EDINA, Minn. — CarHop expanded its network of buy-here, pay-here dealerships this week by bringing aboard two rooftops in Colorado. Adding to its established presence in Lakewood, the company opened locations in Aurora and Colorado Springs. The new stores bring CarHop's ... [Read More]

NEW YORK — After coming in at almost $150 million in net auto loan charge-offs in the fourth quarter of 2009, Chase revealed that during the same time frame in 2010, charge-offs were $71 million. More specifically, the more recent net ... [Read More]

MINNEAPOLIS — Wolters Kluwer Financial Services recently announced it has added another lender to its AppOne platform. Broadening its existing relationship with Wolters Kluwer is Grow Financial Federal Credit Union, which will utilize AppOne to offer indirect lending services to a wider base ... [Read More]

BANDON, Ore. — As the capital markets collapsed, largely due to subprime mortgages, this caused the auto loan subprime market to crash. Subprime auto loans fell to $12.5 billion in 2008 and dropped again to $8.3 billion in 2009, according to ... [Read More]

HAUPPAUGE, N.Y. — GrooveCar rolled out a 90-day incentive earlier this month that is designed to help foster used- and new-vehicle sales in the New York metropolitan area. Basically, credit union members in this market can use the $500 online coupon from ... [Read More]