Tag Archives: credit

Ford Credit posted a $ 500 million profit for the second quarter, down 38 percent from $ 800 million in the second quarter of 2019, the lender said last week, thanks in part to lower value projections for active leases. Ford Motor Co.’s finance arm, at the same time, says …

DETROIT — Ford Motor Co. formally launched the FordPass Rewards Visa card, which offers customers money back on vehicle-related purchases, among other perks. The credit card, which became available in July, allows cardholders to earn 5 percent back on certain Ford transactions, plus another 5 percent through the FordPass Rewards …

While the coronavirus pandemic is shifting consumer credit metrics and disrupting marketplace trends, credit and automotive finance experts say lenders are adapting to the changing environment. Lenders have more tools at their disposal for guidance and clarity than they did during the 2008 financial crisis, such as employment verification instruments …

Data sets that auto lenders typically use to determine who is creditworthy have been upended by the fallout of the coronavirus, consumer credit experts say. As a result, lenders concerned with loan losses and fraud have clamped down on access for customers they believe pose more risk to their business. …

The bankruptcy court estate for Reagor Dykes, the Texas dealership group toppled by claims it defrauded lenders in an elaborate Ponzi-like scheme, is suing Ford Motor Credit Co. for $ 315 million, alleging that the captive lender knowingly turned a blind eye to its illegal dealings. The estate filed the …

The automotive finance market favored customers in higher credit tiers in the months leading up to the coronavirus outbreak in the U.S., credit bureau Experian said Tuesday in its latest State of the Automotive Finance Market report. Subprime market share shrank in the first quarter as loan amounts hit record …

When NBA legend Larry Bird would enter the league’s three-point shooting contest, he’d confidently ask: Who’s playing for second place? According to Experian, when it comes to new-vehicle auto originations right now, captive lenders are Bird and banks and credit unions are playing for second place. Efforts to slow the …

On the day I paid attention in science class, “conservation of energy” resonated in my adolescent brain. Something about energy in a system remains constant—energy saved doing homework could be spent in other pursuits, I suppose. Broadly applied to cars today, that theory would mean that for every standout on …

The falling number of credit inquiries for auto loans, in the middle of a pandemic, should not shock anyone. After all, with many states under stay-at-home orders during March and people experiencing uncertain economic times, the Consumer Financial Protection Bureau’s Consumer Credit Panel’s look at how the coronavirus affected that …