WASHINGTON, D.C. — The latest data available from the Federal Reserve reveals that the average interest rate on 48-month new-car loans at commercial banks for November was the lowest figure on record. For November, this number came in at 6.55 percent. ... [Read More]

WASHINGTON, D.C. — The American Bankers Association recently discovered that delinquencies for both direct and indirect auto loans dropped from the previous quarter. ABA found that direct auto loan delinquencies fell nearly half a point to 2.04 percent from 2.46 percent. ... [Read More]

DALLAS — Since both companies aim to serve buy-here, pay-here dealers, Vehicle Acceptance Corp. and PassTime chose to form a marketing alliance. The partnership announced earlier this week resulted in a coordinated effort to promote PassTime's starter interrupt and GPS devices ... [Read More]

ALEXANDRIA, Va. — The American Bankruptcy Institute pinpointed just how difficult it's been on consumers by sharing exactly how many filings occurred in 2009 and possible trends for this year. Officials revealed data from the National Bankruptcy Research Center that determined ... [Read More]

WASHINGTON, D.C. — As the national economy regains its footing, the American Financial Services Association is gearing its annual conference to give dealers and financial companies specific growth strategies for the rebound. National dealership leaders and top financial company executives are ... [Read More]

BANDON, Ore. — After eight years of steady increases, CNW Research recently reported that combined new and used repossessions eased a bit during the first half of December. While slight, 5.36 percent to 5.26 percent, Art Spinella, of CNW, said this ... [Read More]

CHICAGO — A key macroeconomic element factored greatly into TransUnion's projection that auto loan delinquencies — or borrowers 60 or more days past due — will climb in 2010. Officials explained that if the borrower doesn't have or loses a steady job or source ... [Read More]

DAYTON, Ohio — Reynolds and Reynolds recently revealed that one of its financial contract solutions now will be utilized by Hyundai Capital America. Almost 1,500 dealerships nationwide that sell and service Hyundai and Kia vehicles and finance them through Hyundai Capital ... [Read More]

DES MOINES, Iowa — Wells Fargo Preferred Capital, a subsidiary of Wells Fargo & Co., closed out 2009 by providing a large revolving credit facility to 1st Franklin Financial Corp. The total amount of the facility was $100 million. "We look ... [Read More]

AUSTIN, Texas — Innovative Funding Services recently named a new chief operating officer. Appointed to the post was Robert McKie, who was previously the vice president of sales at Wells Fargo Financial in Eden Prairie, Minn. "With the incredible growth we ... [Read More]