Tag Archives: credit

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 …

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 …

DETROIT — Ford Credit posted a $ 1.1 billion profit in the third quarter, up 53 percent from the same period a year earlier as strong auction values helped the lender to its best results since 2005. Ford Motor Co.’s finance arm, which CEO Jim Farley called a “secret weapon,” …

Ford and Lincoln customers can now receive quotes for usage-based car insurance from Ford Motor Co. websites through the automaker’s Ford Insure and Lincoln Motor Co. Insure programs. Ford Insure, a product created by Ford Motor Credit Co., leverages information about consumers’ driving habits into discounts on auto insurance. The …

Ford Credit is offering payment relief to customers impacted by wildfires in Oregon as well as those recovering after Hurricane Sally, the lender said Tuesday. Qualified customers may delay one or two monthly payments, resuming their regular payment schedules when their situations improve. Alongside other leading lenders, Ford Credit extended …

Credit washing, a major fraud concern before the COVID-19 outbreak, was put on the back burner by government forbearance efforts that preserve customer credit profiles from the negative input of late vehicle payments. But fraud experts fear the practice, in which scammers claim to be identity-theft victims and request to …

Synthetic identity theft, where scam artists cobble together an identity by blending real and fake information to obtain vehicles, has slowed somewhat during the coronavirus pandemic, credit bureau TransUnion says. Forbearance programs may be the main reason for the decline in synthetic identities being used in auto loan applications. The …

Consumers impacted by the coronavirus have a lot to worry about — paying bills, possibly finding a new job and, of course, staying healthy. But chief among those concerns for many is the potential long-term impacts that pandemic conditions may be having on their credit — and whether the process …

Credit unions ceded market share to automaker lenders wielding aggressive incentives in the spring. But used-vehicle lending remains a bright spot for credit unions amid the coronavirus pandemic as used-car values skyrocket. All non-captive auto financing companies forfeited market share to automaker lenders boasting 0 percent interest, seven-year car loans …