American Honda Finance Corp. | Auto Finance News | Page 4 | Auto Finance News - Part 4

The Cost of Compliance [SPONSORED]

Since July 2010, the Consumer Financial Protection Bureau has made significant waves in the auto finance space. In 2013, they issued their bulletin titled “Indirect Auto Lending and Compliance with the Equal Opportunity Act” stating that they would regulate lenders on unanticipated discriminatory practices. With very little guidance on how to be compliant, lenders and […]

Lawsuit Against Honda Finance Alleges Illegal Robocalls

American Honda Finance was hit with a punitive class action in California state court on Friday for allegedly violating the Telephone Consumer Protection Act (TCPA), which guards against unsolicited robocalls for collections, the filing claims. Michelle Adame is suing the company in the Superior Court of California in the county of Los Angeles on behalf […]

Longer Term Loans Have Value at Higher Credit Quality, Bureaus Say

NEW ORLEANS — While banks, captives, and financial institutions are dialing back longer term loans, these loans can still perform well with higher credit consumers, representatives from major credit bureaus said during a panel at the American Financial Services Association’s 2017 Vehicle Finance Conference yesterday. Wells Fargo & Co., Honda Financial Services, and Consumer Portfolio Services recently signaled […]

Honda Exec: Longer-Term Loans May Hurt Consumers, Not Help

The growing popularity of longer-term loans aided last year’s record breaking 17.5 million cars sold – and that might not be a good thing, American Honda Motor Co.’s Executive Vice President John Mendel said yesterday at the Automotive News World Congress conference in Detroit. “When auto loans stretch too far, to 84 or 96 months […]

OEMs Ramp Up Incentives to Prep for New Products

OEMs are rolling out rebates and financing incentives to “clean out the pipeline” to prepare for new models, because many manufacturers are “loaded to the gills in the warehouse right now” with 2016 model year and earlier products, said Lenny Sims, chief of business development at NADA. Polaris Industries Inc., for example, is offering rebates up to […]
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