Auto Loans

Another Interest Rate Hike Looms Large

Fed announces fourth consecutive ‘jumbo’ increase in effort to slow inflation.

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Q3 Ally Car Loan Applications Down But Value Unchanged

CEO acknowledges that greater market woes may be on the horizon.

Small Business Lending Index for October Finds Loan Approval Rates Rose

While it’s a good sign that approval percentages continue to climb, we are still far below the levels we saw before the pandemic.

Americans are Borrowing Again

As auto loans and credit apps rise, it appears Americans are more willing to take on debt.

Millions Postponed Auto Loan Payments During Pandemic, But Most Loans are Current Today

TransUnion study finds borrowers used auto loan deferments as a safety net during the COVID-19 crisis.

Auto Loan Interest Rates Hit 10-Year High

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.

Edmunds: Auto Loan Interest Rates Climb Back to Pre-Recession Levels

With September in the books, Edmunds reported this week that interest rates have stayed above 5% for eight months in a row and now mirror levels not seen since before the Great Recession.

Edmunds: Zero Percent Finance Deals Evaporate in August

Two years ago, zero percent finance deals accounted for 14.6% of transactions. Last month, they only accounted for 7.4%. Edmunds analysts point to higher interest rates as one of the reasons for the scarcity in zero percent finance deals in August.

Oops!

Failing to recognize the difference between a loan and a retail installment contract led to a costly violation of the Georgia Motor Vehicle Act.

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Physician, Heal Thyself

The CFPB’s inability to master the basic vocabulary of automotive finance does a disservice to the consumers whose interests it is charged with protecting.