USAA Offers Auto Loans Through Augmented Reality App

USAA is piloting a car-buying augmented reality app, which allows consumers to scan cars on the road and apply for an auto loan from local inventory right on the spot, the bank announced Monday. Augmented reality slowly crept into consumer’s lives whether it’s scanning a bedroom to visualize a new paint job, virtually placing new […]

Time Bound: Chrysler Given “10 Years” for Turnaround

You’ve got to hand to it Cerberus Capital Management. The private equity company buys two of the world’s largest automotive-industry companies at their peak price, yet still pitches the investments as smart. Exhibit A is today’s New York Times article on Chrysler’s progress to date. In it, Timothy F. Price, a managing partner at Cerberus, […]
  • Auto Finance News
  • August 20, 2008
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A Good Idea — Almost

With gas prices at record levels, just about every car ad today touts gas mileage. So it’s no surprise that lenders are jumping on the bandwagon, too. Yesterday, Truliant Federal Credit Union unveiled its “Fuel Efficient Auto Loan,” an offering that rewards car buyers for buying vehicles that get at least 29 miles per gallon. […]
  • Auto Finance News
  • August 19, 2008
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The Double-Edged Sword

Long-term loan products are poised to replace lease offerings for customers seeking low monthly payments on their automobiles. But 72- and 84-month loans may create a new set of problems for the industry as lenders face a surge of negative equity among their borrowers. In auto finance, “negative equity” occurs when a borrower owes more […]
  • Auto Finance News
  • August 14, 2008
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Stressing the Stress Tests

Though losses in auto loan- and lease-backed securitizations have reached — or, in some cases, exceeded — their long-term averages, so far the rating agencies and investment banks are fairly comfortable with ABS performance. Analysts at Standard & Poor’s and Citigroup, which both held conference calls on consumer ABS in the past few days, pointed […]
  • Auto Finance News
  • August 12, 2008
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Invitation to Participate in the Auto Finance Forecast

Every quarter Auto Finance News and AutoFinanceNews.net, its sister publication, conducts the Auto Finance Forecast, which gauges activities and sentiments in the automotive lending and leasing market. We invite your participation here. Results will be made public at the 2008 Auto Finance Summit, Oct. 6-8, as well as in Auto Finance News and on AutoFinanceNews.net.
  • Auto Finance News
  • August 12, 2008
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Prices Surge for Used Compact Cars

Intense demand for compact cars has sent sales volume — and pricing — higher, even on pre-owned inventory. During June, the wholesale prices of used compact cars increased about $300 to $7,376, according to ADESA Inc. statistics. Within the pre-owned market, dealers are selling compact cars well beyond their Blue Book assessed values and making […]
  • Auto Finance News
  • August 11, 2008
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Lenders Beware: Floorplan Troubles Loom

Auto lenders have been taking it on the chin for months now, and it seems things will get worse before they get better. So far, financiers have largely blamed their woes on high gas prices, a tough economy, and higher-than-expected residual losses. But in the next few months, troubles related to dealer floorplans will begin […]
  • Auto Finance News
  • August 8, 2008
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European Auto Finance Mirrors U.S. Market

The auto finance market across the Atlantic looks strikingly similar to the one in the United States. Sales of sport utility vehicles are plummeting, lenders are scrutinizing dealer performance, and auto retailers are laying off employees. Check out this sampling of items from the most recent issue of Motor Finance magazine: • Parker’s Car Price […]
  • Auto Finance News
  • August 5, 2008
  • Archives
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