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The regulator who has championed New York’s crackdown on payment packing released his office’s Top 10 list of complaints received in 2017. Auto was 1,965 complaints short of the No. 1 complaint category: the internet.
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Executives say the new program, which is designed for car buyers with a 750 FICO or better, is part of the finance source's push to become a one-stop shop for every dealership.
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Automotive finance veterans Joe Peterson and Flory Hunsaker join the tech firm as chief sales officer and regional sales director, respectively. They bring decades of sales success to eLEND as it prepares for the launch of its next-generation finance platform.
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Through the newly forged partnership, indirect financing offers through TD Auto Finance will be made available to qualified buyers using AutoGravity’s digital retail platform.
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Auto industry veteran and former Dominion executive Jessica Ruth has joined Clarivoy as vice president of product.
Read More →Edmunds analysts say the industry is beginning to see the trickle-down effect from the rate increases happening at the federal level. February's annual percentage rate on new finance vehicles was expected to average 5.2%, up from 4.9% in the year-ago period.
Read More →The new offering is designed to help finance sources better serve consumers across the credit lifecycle, providing insight into historical consumer behavior across all three credit bureaus.
Read More →The floorplan financing provider has updated its Account Portal management platform with a new feature that allows dealers to opt into a recurring and automated payment system.
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Originations continued to fall at a faster rate than previous years, as finance sources continued to tighten underwriting standards during 2017’s end-of-year quarter. TransUnion officials, however, say the sector is performing well as the economy remains relatively strong.
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A Hudson Cook attorney told industry trade groups in a Jan. 18 memo that the Defense Department’s Dec. 14 interpretative rule, combined with something else it did in July 2015, makes it ‘highly unlikely that any dealer or finance source will be willing to originate or purchase’ a vehicle finance transaction if credit-protection products are included.
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