The Federal Reserve reports U.S. car buyers borrowed $159 billion in the third quarter, a modest gain powered by a 6% increase in originations to prime credit customers.
Ford Motor Credit is No. 1 in J.D. Power’s latest rankings of customer satisfaction with auto finance companies. Analysts say the metric is increasingly driven by the digital experience.
Black Book’s latest Used Vehicle Retention Index report shows retained values for light trucks declined at a faster rate than many car segments.
Ten-year auto finance veteran Scott Maybee has been named president of NextGear Capital after serving as general manager of Manheim Northstar Minnesota.
Kelley Blue Book analysts say the average new vehicle transaction climbed to $38,259 in October, a slight decline from the prior month but 2.9% higher than a year ago.
The Federal Reserve has announced its third interest rate reduction since July, this time excluding language committing the central bank to action in support of economic expansion.
Mini Financial Services has launched Flipped Financing, a new captive finance option billed as a simplified, low-pressure, single-rate approach for dealers, finance managers, and customers.
Black Book reports used vehicle values fell by 1% in September, led by declines in the compact van and luxury car categories. Only one segment showed improvement.
Ford Motor Credit has launched Ford Insure, a new program underwritten by Nationwide and designed to offer car buyers auto insurance at rates discounted by as much as 40%.
Dealertrack announced the integration of its proprietary electronic contracting solution with Dealertrack uniFI, promising a paperless lead-to-contract workflow facilitated by a single platform.
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