Tag Archives: says

Used-vehicle down payments are the highest they have been since Edmunds started collecting data in 2007. Unique market conditions have led to lower interest rates, bigger down payments, less negative equity and increased cross-shopping of used vehicles, according to a statement from the company. The data shows that the average …

During the coronavirus pandemic, federal, state and local governments have introduced measures designed to prevent the spread of the deadly virus, preserve economic stability and provide for Americans hardest hit by the crisis. Measures at every level have been criticized as being too harsh, too lax, overreaching and incomplete, depending …

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 …

Nearly 6,000 Michigan automotive customers will be eligible for relief and possible loan forgiveness from Santander Consumer USA as part of the settlement agreed to between the subprime lender and a coalition of state attorneys general. Santander allegedly violated consumer protection laws by placing borrowers with subprime credit into auto …

Icon SportswireGetty Images The Centers for Disease Control have a new publication, COVID-19 Employer Information for Office Buildings, that encourages private vehicle use over public transportation for workers. Employers should help pay for parking for people who drive in, the CDC says, or let workers stagger their hours so they …

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 …

JM&A Group, one of the largest independent providers of finance and insurance products, is sharing findings from a multiyear pilot of virtual F&I sales to dealerships looking to adopt the best strategies during the COVID-19 pandemic. The program, which launched in September 2018, aimed to capture F&I sales from customers …

Excuse us if you’ve already devoured the latest volume of the Journal of Transport & Health, but the March issue contains the results of a novel experiment that tested a cherished automotive stereotype. The study is entitled “Estimated Car Cost as a Predictor of Driver Yielding Behavior for Pedestrians,” but …

Ally Financial Inc., one of the largest U.S. auto lenders, is looking to its dealership partners to make 2020 another record-setting year. The Detroit lender’s auto originations increased 2.5 percent to $ 36.3 billion in 2019, stemming from a record-high 12.6 million decision applications sourced from a dealer base of …