Finance & Insurance

Low interest rates and longer loan terms have been a saving grace for vehicle sales, according to Experian’s latest State of the Automotive Finance Market report. Affordability remains a challenge, however, and consumers with the top credit backgrounds are returning to the used-vehicle market for deals. Melinda Zabritski, Experian’s senior …

California tech company Huddlebots, producer of what its website calls “nanorobotic machines,” is breaking new scientific ground. But Huddlebots’ technology is not to be confused with the fictional nanobots described in science fiction writer Michael Crichton’s novel Prey. Instead, Huddlebots’ nanorobots are “molecules with a unique property that enables them …

Auto lender TD Auto Finance U.S., based in Farmington Hills, Mich., has named a new president and CEO. Marc Womack, 52, was previously COO of the company. In his new role, which was announced Nov. 12, Womack will be tasked with steering the company on an expansion in the U.S. …

General Motors is planning to apply for a banking charter that would allow its lending unit to hold deposits and expand its auto finance business, The Wall Street Journal reported last week, citing people familiar with the matter. The automaker’s finance arm, GM Financial, has been talking to federal and …

Auto loans, which are historically less expensive to incentivize, received the most aggressive offers this spring from captive finance companies, with no-interest, seven-year loans driving new-vehicle sales in the early days of the pandemic. Leasing levels concurrently fell industrywide, according to J.D. Power data, and remain below prior-year levels. The …

General Motors Co is planning to apply for a banking charter that would allow its lending unit to hold deposits and expand its auto-finance business, The Wall Street Journal reported on Friday, citing people familiar with the matter. The automaker’s finance arm, General Motors Financial Company Inc, has been talking …

TOKYO — Japan’s state-owned export credit agency has agreed to give Nissan Motor up to $ 2 billion as part of a credit agreement to help it finance car sales in the U.S. The money should help Nissan sell cars in the world’s second-biggest auto market after China by allowing …

Personal vehicle ownership has never been more desirable to Americans. Whether it be long drives to clear one’s head, driving to vacation spots instead of flying or a fear of public transportation because of COVID-19 concerns, consumers consider their vehicle a haven in a perilous world. As personal ownership desirability …

Auto loan debt edged up in the third quarter, driven by record-high loan originations, according to the Federal Reserve Bank of New York’s quarterly report on household debt. Total household debt grew $ 87 billion in the third quarter to $ 14.35 trillion, the highest figure recorded for household debt …