Reduce Risk by Counseling Consumers

Everyone has been in the consumer’s shoes when shopping for a vehicle. And, Everyone has experienced the excitement and relief that comes with knowing that the first loan payment is often not due for 90 days. But, lenders probably make it a priority to begin paying down the auto loan as soon as possible, i.e., […]

Communicating the Value of Refinancing

Once a consumer is locked into a car loan, it’s easy for them to habitually make the monthly payments without further consideration. But sometimes, it pays to hit pause and consider the potential benefits of refinancing an auto loan, for both lender and consumer. The key point is to evaluate and educate. The Fed has […]

Fueling Auto Lending Without Increasing Risk

The latest stats are in, and 2017 marked the auto industry’s first sales decline in seven years[1]. Auto experts forecast this trend will continue into 2018.[2] After this run of consecutive year-over-year sales gains, the auto lending market is showing signs of cooling. There are several reasons sales have reached a plateau. People are holding […]

Closing the Relationship Gap Between Millennials and Credit Unions

Millennials are expected to overtake Baby Boomers in population by 2019, reaching 73 million while Baby Boomers decline to 72 million, according to the U.S. Census Bureau. Though their numbers are strong, their financial situations are not. While there are indeed exceptions, millennials are launching their lives later, often strapped with a heavy student loan […]

Seizing the Opportunity of Pre-Owned Vehicle Sales

The used car market is feeling the squeeze. Last year’s significant hurricanes, coupled with two years of wildfires, have put a severe crimp on the used car inventory across the United States. Used vehicle sales volume increased by 3% year-over-year in July, according to Cox Automotive. The annualized pace of used vehicle sales was up […]

Auto Finance Industry Trends That Will Disrupt Lending in 2019

A worrisome auto finance industry trend is developing: After years of growth, sales have been declining since 2017. The decline is predicted to continue through 2018 and possibly into 2019. Car owners keep their vehicles longer. Used car inventory is high, which reduces demand for new cars. City-dwellers often prefer car-sharing or Uber/Lyft to owning […]

How the 2008 Financial Crisis can Inform Lender Compliance

The demands of regulatory compliance are difficult enough when the industry is healthy and the economy is strong. But what happens when a crisis hits? It’s a question that auto finance companies need to answer for themselves, as troubling signs have emerged recently, from a sharp increase in early loan delinquencies to the collapse of […]

Educating Consumers on What Goes Into Auto Financing

The scenario is a common one. A consumer strolls into a dealership with a lender pre-approval letter in hand. The consumer picks a car they believe to be within their budget, alerts the salesperson, and proceeds to finalize the deal. However, when they see the total amount to be financed, after title, taxes, fees, etc. […]
Page 1 of 3212345 102030...Last »