Tag Archives: Loans

Key strategies implemented in dealerships’ finance-and-insurance offices can help prevent negative equity for customers. For Justin Gasman, financial services director at McCaddon Cadillac-Buick-GMC in Boulder, Colo., his plan of action to help customers maintain the value of their vehicles and keep them above water on loans involves education, short-term loans …

DETROIT — GM Financial’s loan and lease originations climbed in the third quarter, even as General Motors’ U.S. light-vehicle sales fell 9.9 percent, and more customers paid their loans on time, despite economic uncertainty. Only 2.1 percent of payments were 31 to 60 days past due during the quarter, compared …

Witthaya PrasongsinGetty Images “Serious” delinquencies are not a threat, consumer credit agency TransUnion says, but there are signs there could be trouble coming up in the world of auto loans. The number of auto loans that are more than 30 days past due has increased, and there are plenty of …

Big incentives from General Motors helped GM Financial increase auto loan originations by double digits in the second quarter, even as many dealerships had to temporarily close or limit operations because of the coronavirus pandemic. GM’s captive finance arm said in a statement last week that auto loan originations rose …

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 …

As lenders tighten credit access to mitigate risk from the coronavirus pandemic, dealerships face more difficulty getting customers approved for auto loans. A survey by the Federal Reserve issued to “select large banks” signals that more stringent lending practices have been adopted for consumer loans, including auto loans. Sixteen percent …

Memorial Day weekend historically comes with some of the best new car deals, and 2020 is shaping up to be an even better deal for consumers. As dealers try to dump inventory piled up from the coronavirus pandemic and automakers usher in 2021 models to kick off the summer sales …

The financial security of small U.S. auto lenders during the COVID-19 crisis may be owed, in part, to the advocacy of a Michigan strip club. A U.S. district judge recently sided with the owner of the Flint, Mich., topless club Little Darlings, who went toe-to-toe with the federal government about …