Say Goodbye to 0% Interest [SPONSORED]

After three years of marginal interest rate hikes, auto lenders and dealers are saying goodbye to zero percent financing offers. Zero percent interest offers fell to 7.4% of total new car sales in March compared with 11% of sales the year prior, according to Edmunds. Additionally, the average interest rate on new car loans climbed […]
  • EFG Companies
  • April 13, 2018
  • Comments Off

Share of Subprime Loans Falls to Record Low in 4Q, Experian Says

The share of nonprime, subprime, and deep-subprime loans as a percentage of total outstandings hit a record low in the fourth quarter, according to Experian’s latest report. New vehicle loans and leases to nonprime consumers fell to 19.64% of total outstandings, compared with 19.77% during the same period the year prior. Similarly for used loans, […]
  • William Hoffman
  • March 5, 2018
  • 0

Buy-Here, Pay-Here Poised to Grow in 2018, Black Book Says

Buy-here, pay-here dealers could “get back into the mix” of auto financing in 2018 after being largely shut out by increased bank competition, Anil Goyal, executive vice president of operations at Black Book, told Auto Finance News. In the first quarter of 2011, buy-here-pay-here dealers held a market share of 9.5% of used financing and […]
  • William Hoffman
  • January 8, 2018
  • 3

Rising Delinquencies Dominate 2017’s Top Subprime Headlines

Despite the overall popularity of subprime, the sector has faced significant losses and increased fragmentation this year. While Credit Acceptance and Westlake Financial Services continue to express interest in subprime lending, Fitch Ratings found subprime ABS delinquencies have spiked to a 20-year high. Additionally, a stress test from S&P Global indicated a rise in both […]
  • Emma Sandler
  • December 26, 2017
  • 0

China Ripe for Auto Finance Boom as Consumer Penetration Rate Rises

Since 2009, China has surpassed the United States as the largest market for new-vehicle sales, according to Deloitte Consulting LLC. And now, auto finance is starting to catch up. For many years, the Chinese automotive market has been propped up by government incentives like tax breaks, which encouraged customers to purchase cars. So far, this […]
  • Emma Sandler
  • December 20, 2017
  • 1

Delinquency Rates Slated to Decline in Early 2018, Experian Says

The industry’s increasing pace of delinquencies has begun to “taper off,” Melinda Zabritski, senior director of automotive financial solutions at Experian, told Auto Finance News. The industry began pulling back originations and tightening credit in the third quarter of 2016, she said. Given that the majority of delinquencies occur in the first 18 to 20 […]
  • William Hoffman
  • December 15, 2017
  • 3
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