Tag Archives: Buyers

One of digital retailing’s greatest challenges is translating a subprime buying experience online. Customers who use the platforms without assistance are less likely to receive auto lender approval. But retail technology experts say that changes leading up to and during the coronavirus pandemic have simplified the process for subprime buyers. …

Verifying a customer’s identity in digital vehicle sales is a leading fraud issue for dealerships during the COVID-19 pandemic. Notary services are one option dealerships have at their disposal to confirm an identity outside the dealership, and experts say these services are increasingly performed virtually. For most dealerships, there is …

Under the newly announced Ford Promise program, Ford will buy back a customer’s vehicle if they lose their job involuntarily within a year after buying a new, used, or Certified Pre-Owned vehicle. The coverage is for any 2019 to 2021 model year vehicle financed through Ford Credit for personal use. …

Nikola has opened reservations for its upcoming Badger electric or hydrogen fuel-cell pickup. The automotive startup also announced that the Badger will be unveiled on December 4 at its annual Nikola World event. Deposit holders will secure spots at the event and be entered to win a free truck. Nikola …

Justin SullivanGetty Images The economic uncertainty of the coronavirus pandemic has forced Wells Fargo’s bank to stop processing auto loans with as many as 1100 independent dealerships and refocus on dealers it already has deep relationships with. The change is likely to affect used-car shoppers more, but they can still …

Justin SullivanGetty Images The economic uncertainty of the coronavirus pandemic has forced Wells Fargo’s bank to stop processing auto loans with as many as 1100 independent dealerships and refocus on dealers it already has deep relationships with. The change is likely to affect used-car shoppers more, but they can still …

If you’re thinking about why a traditional rear-wheel-drive sedan like the Cadillac CT6 is no longer being built, a simple look at the much higher sales figures for SUVs is a partial explanation. In 2019, only 7951 CT6s were sold, compared with almost 50,000 Cadillac XT5 crossovers, and U.S. CT6 …

Credit Acceptance Corp., the lender to car buyers with subprime credit scores, warned it’s seeing a sharp drop-off in payments as people shift their financial priorities to get through the coronavirus pandemic. As unemployment soars, borrowers are putting off payments or “reallocating resources,” Credit Acceptance said in a regulatory filing …

Automakers across the U.S. are slashing interest rates, assisting with payments, and offering other incentives to buyers and owners as shoppers largely hunker down during the typically busy spring season. Although it’s unclear how a prolonged outbreak may impact owners and shoppers, several automakers have offered assistance for up to …