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Credit approval rates on Swapalease.com’s online lease marketplace soared to their highest number yet for 2019 last month, registering a 6.2% year-over-year gain and a 33.6% improvement from May 2017.
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Trust Science and Inovatec Systems have partnered to release what is billed as the world’s first end-to-end decisioning platform powered by alternative credit scores, including 64 million unbanked and underbanked U.S. car buyers.
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TransUnion analysts report more consumers in the prime and superprime credit tiers are choosing to buy used as off-lease units continue to flood the market, offering a budget-friendly alternative to increasingly expensive new cars.
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Spireon announced the addition of a Spanish-language version of its flagship GPS platform at the National Independent Automobile Dealers Association’s annual conference.
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Spireon has united multiple automotive channels into a single division to be led by TrueCar and Autotrader veteran Brian Skutta.
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An expanded partnership that includes a new integration between Dealertrack and Teledata Communications was designed to enable increased efficiency and faster funding for more auto finance sources.
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More consumers in the prime and superprime credit tiers opted for used vehicles as concerns around affordability grew in the first quarter, according to the latest report from Experian.
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An analysis of more than 35,000 loans for pre-owned vehicles on the LendingTree platform finds Tesla, Porsche, and Lexus buyers had the highest average credit scores.
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Edmunds says the average APR for a U.S. new-vehicle loan was 6.36% in March, putting dealers and consumers on the cusp of a ‘dramatic shift’ toward the used-car market.
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Software provider DealerBuilt agreed to implement security protocols to settle an investigation into a data breach that exposed the personal information of customers and employees at more than 100 dealerships nationwide.
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