Securian Introduces New Debt Protection Auto Benefits
Mar 26, 2013
Securian Financial Group introduced Major Auto Expense and Auto Insurance Deductible debt protection benefits as value-adds for new and existing debt protection programs offered by financial institutions. 'These products were created with the borrower in mind and provide a lot of value for the lender too' The Major A ... Continue reading
NADA and NAMAD Question CFPB's Approach in Its Guidance on Auto Lending
Mar 21, 2013
The National Automobile Dealers Association (NADA) and the National Association of Minority Automobile Dealers (NAMAD) issued the following statement today in response to the guidance from the Consumer Finance Protection Bureau (CFPB) regarding dealer-assisted financing: "The guidance issued by the CFPB today attempts ... Continue reading
Morningstar Finance App Launches in Mercedes-Benz Vehicles
Mar 19, 2013
Daimler AG is now offering a finance app from Morningstar through the COMAND Online system in Mercedes-Benz vehicles. Available in more than 20 languages, the Morningstar finance app provides Mercedes-Benz drivers and passengers with global financial information for more than 9 million equities, derivatives, bonds, ind ... Continue reading
Edmunds Provides Tips to Help Car Buyers Avoid Unnecessary Credit Checks
Mar 18, 2013
Extraneous credit checks could put an unnecessary dent in a credit score. That's why Edmunds.com, the premier resource for car shopping and automotive information, advises car buyers to know when they should and should not grant car dealers permission to run a credit check. 'But if you are using outside financing from ... Continue reading
Ally Financial Announces Renewal of $11 Billion in Credit Facilities
Mar 16, 2013
Ally Financial Inc. today announced that it has completed the renewal of $11 billion in credit facilities at both the parent company and at its banking subsidiary, Ally Bank, with a syndicate of 19 lenders. The secured facilities can be used to fund retail, lease and dealer floorplan automotive assets in the U.S. "Supp ... Continue reading
Auto Lease Credit Approvals Increase In January
Mar 14, 2013
National car lease marketplace Swapalease.com reports its latest lease customer credit approval information, with positive trends continuing into 2013. According to U.S. Bank data, January credit approvals on Swapalease.com were 23.1% higher compared with the average approvals rate during the last five months of 2012. ... Continue reading
Mar 7, 2013
For decades International AutoSource has been providing expat car financing and leasing to foreign expats in the United States. Through their new partnership with Corporate Fleet Services, International AutoSource is now able to assist foreign expats in Canada with the financing or leasing of a vehicle without a Canadi ... Continue reading
GMAC Insurance Signs Contract Extension with Merkle
Mar 5, 2013
Merkle, a leading customer relationship marketing (CRM) firm and the nation's largest privately held agency, today announced that GMAC Insurance has re-signed with Merkle for a new three-year contract extension. GMAC Insurance, one of the largest automobile insurers in the country, began its full-service engagement wit ... Continue reading
Mar 5, 2013
Experian Automotive today released that average loan terms for a new vehicle in Q4 2012 jumped to an all-time high of 65 months, up from 63 months in Q4 2011. Terms for used vehicles stayed flat at 60 months. Findings from the Q4 State of the Automotive Finance Market analysis showed that the average interest rate for ... Continue reading
Median-Income Household Can Only Afford Average-Priced New Car in One of the 25 Largest U.S. Metros
Feb 26, 2013
A median-income household can only afford the average-priced new car or light truck in one of the 25 largest metropolitan areas in the U.S. (Washington, D.C.), according to research released today by Interest.com, a Bankrate company. Interest.com published a related list of how much a median-income household in each me ... Continue reading
Fitch: U.S. Auto Asset Sector Credit Metrics Beginning to Normalize After Historic Levels
Feb 26, 2013
U.S. auto asset sector credit metrics will modestly weaken and normalize in 2013 from the decade-low levels experienced in 2012, according to Fitch Ratings. Fitch expects moderation in used car values and a slight relaxation in underwriting terms on recent vintage loans. Overall credit performance is expected to be rel ... Continue reading
Thasunda Brown Duckett Named CEO of Chase Auto Finance
Feb 25, 2013
Chase announced today that Thasunda Brown Duckett has been named CEO of Auto Finance, part of Chase's Consumer & Community Banking division. Ms. Duckett previously served as national retail sales executive for Chase's Mortgage Banking division. She succeeds Marc Sheinbaum, who has asked to pursue other opportunities. ... Continue reading
Experian Automotive: Sixty-day auto loan delinquencies rise for first time since 2009
Feb 21, 2013
Experian Automotive today released its industry-wide analysis of automotive credit trends for Q4 2012 and found that 60-day delinquencies rose from 0.72 percent in Q4 2011 to 0.74 percent in Q4 2012. It was the first time since Q4 2009 that either 30- or 60-day loan delinquencies experienced a year-over-year rise. "Ove ... Continue reading
Feb 10, 2013
Dealertrack Technologies and American Honda Finance Corporation (AHFC) today announced an exclusive, long-term strategic partnership agreement to create and maintain a cutting-edge sales financing process, including a vehicle/loan origination solution, for Acura and Honda automotive and powersports dealers in the Unite ... Continue reading
Feb 9, 2013
Equifax announced the addition of David Foerster, General Manager, Automotive Services, Paul Gessler, Automotive Subject Matter Expert and Edie Hirtenstein, Senior Director, Product Management to lead its Automotive Services division servicing dealers, lenders and industry service providers. Foerster brings more than 2 ... Continue reading
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