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Ford Credit finance volume drops 14% year over year

Ford Motor Credit’s total volume of units financed has declined 13.7% year over year to 70,793 units financed in July, according to AutoCount data from Experian. In a couple emblematic states, the captive’s volume decreased more than 30%. In Texas, Ford Credit’s number of loans and leases financed dropped 31.3% to 5,979 units in June. […]

Thinning margins spur Ford Credit downgrade

Ford Motor Co.'s weakened credit profile will likely have negative implications for its access to funding and financing volumes after a downgrade by Moody’s Investors Service this week. The downgrade moved Ford’s rating to non-investment speculative-grade status.  Moody’s said an upgrade for Ford is “unlikely in the near term,” as margins are expected to remain […]

Banks increase market share in 2Q

Banks captured auto loan and lease share from credit unions, captives and buy-here, pay-here lenders in the second quarter, according to Experian‘s second-quarter State of the Automotive Financing Market report published today. Banks’ total financing – both loans and leases for new and used vehicles – increased year over year to 32.7% from 30.2%. By […]

CFPB, FTC fine Equifax $700M for data breach

Equifax has been ordered to shell out $700 million in fines and financial relief after 147 million consumer identities were compromised in a data breach nearly two years ago. A global settlement was announced today in a proposal filed by the Consumer Financial Protection Bureau, Federal Trade Commission, and 48 states, the District of Columbia […]

An inside look at 2 new credit scoring models

Ever since the concept of loaning money was conceived, lenders have been trying to find the ideal way to predict who will pay them back and who will default. Over time, methods for evaluating the likelihood of borrower repayment progressed from individual human judgment calls to more objective credit bureaus and reports. Today, scores often […]

Sagent Partners With Experian to Combat Fraud Risks

Sagent Lending Technologies has partnered with Experian and integrated the credit bureau’s Precise ID, a fraud and identity solution, into its Auto Loan Origination System. Experian’s Precise ID allows auto lenders using the Sagent system to better identify would-be consumers’ identities and mitigate the risk of fraud, which is reported to have increased 5% year over year, as […]

More Prime Consumers Opt for Used Cars as Subprime Loses Share

As the percentage of prime and super-prime used-car buyers reached an all-time high in the first quarter, the percentage of subprime loan originations fell to a record low, according to Experian’s Q1 2019 State of the Automotive Finance Market Report published today. “The trend of more prime consumers entering the used market is one we’ve […]
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