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There’s a reason captives like Ally and Chrysler Capital have expanded their appetite for longer term loans. And according to a new white paper from Black Book, it’s not just about keeping loan payments below that $400 consumer sweet spot.
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Experian’s new Auto Equity Model helps users estimate a consumer’s vehicle equity on an existing auto loan.
Read More →TransUnion’s annual auto loan forecast calls for auto loan debt to rise to $18,244 by the end of 2015. This would mark 19 consecutive quarters of increases since the first quarter of 2011.
Read More →Credit Acceptance has received a civil investigative subpoena from the U.S. Department of Justice, which requested that the finance company produce certain documents related to subprime auto lending.
Read More →Consumers are back in the borrowing business, with November consumer credit data from Equifax showing that nonmortgage credit balances rose to their highest level in five years.
Read More →Nearly half of new car buyers in the month of November used longer terms to purchase more expensive cars, according to a report from Requisite Press. The long-term loans enabled extra spending of more than $1.4 billion.
Read More →Experian Automotive reported this week that average dollar amount for both new and used vehicle loans reached all-time highs in the third quarter, climbing to $27,799 and $18,576, respectively.
Read More →A representative of the Office of the Comptroller of the Currency says competition is forcing finance sources to take bigger risks. He warns that the regulator will continue to monitor the market.
Read More →The percentage of new-vehicle loans made to credit-challenged car buyers was at 15.1% in the second quarter of 2014, down from 22.1% in the same period in 2013, according to Experian Automotive.
Read More →US Equity Advantage has transmitted more than $1.3 billion in loan payments for its members, while maintaining compliance with the money transmitter requirements related to licensing and bonding in all 50 states.
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