Tag Archives: Pandemic

Assessing the impact of the coronavirus pandemic on a customer’s credit standing is similar to a dean of admissions judging prospective college students: the more information they have, the faster a decision can be made. Likewise, auto lenders’ decisioning processes ascribe values to certain components of a consumer’s credit history, …

The Washington PostGetty Images Experts who pay attention to auto loans see trouble on the horizon and think repo men and women will be busy in the new year. Coronavirus era federal stimulus payments and unemployment benefits are mostly finished, and there’s no hint that we’ll get another aid package …

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 …

Glenda Bennett used to design and make Diné (Navajo) inspired handbags, but people stopped buying when the coronavirus hit. She shut down her business and trained to become a semi-truck driver, and now crisscrosses the country with a different perspective behind the wheel of a Freightliner Cascadia tractor. Bennett told …

The Consumer Financial Protection Bureau received more complaints about auto loans in the first five months of the pandemic than in any other five-month period since the bureau began tracking the data in its current form starting in April 2017, according to a new report by the U.S. Public Interest …

Finance-and-insurance software provider Dealertrack is now capable of supporting a fully digital process after adding an electronic signature feature to its tool and integrating another so customers can remotely sign and submit any deal document digitally, the company said last month. Pandemic conditions accelerated progress of the technology, which was …

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. …

The strength of GM Financial has been a bright spot for General Motors during the coronavirus crisis. GM’s captive has enough liquidity to stand largely on its own, the ability to defer existing customers’ loan payments and the power to attract new buyers with generous financing incentives. At the end …

Sean M. HaffeyGetty Images Luxury rentals for as little as $ 33 per day for the month of April are the good news, along with the fact that any car you rent now will probably be extra clean. But with travel way down because of the coronavirus pandemic, airport parking …