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Westlake Financial Services will now list its vehicles on SmartAuction, as part of an agreement between Westlake and Ally Financial, according to a company announcement.
Lease approval rates registered 67.3% for Swapalease.com in March, which were 2% higher than the month before and signify a possible upswing in approval rates, according to the company.
The average interest rate for a new-vehicle loan in the first quarter of 2018 was 5.7%, according to Edmunds, up from the same time in 2013, when new-vehicle interest rates averaged 4.4%.
KAR Auction Services will be presenting at the Bank of America Merrill Lynch 2018 Auto Summit later this month, according to the company.
Users will now have access to KBB vehicle valuations when assessing the value of their trade-in through the AutoGravity platform.
Tom Caruso, executive vice president at KAR Auction Services received the 2018 Remarketer of the Year Award at the 2018 Conference of Automotive Remarketing. Jeannie Chiaromonte, VP, national remarketing manager at Bank of America received the 2018 Consignor of the Year Award.
U.S. Bank has partnered with AutoGravity to create a new platform that allows consumers to shop for a new car and receive pre-approval for a loan directly on the bank’s website, according to a company announcement.
The decline came as a result of a higher-than-average number of applicants in January. More people looking to get into a lease during the month, allowed for a higher number of people to not qualify for a lease, according Swapalease.com.
Wells Fargo Dealer Services agreed to repay another $5.4 million to about 450 service members whose vehicles were repossessed by the bank in violation of the Servicemembers Civil Relief Act, the U.S. Department of Justice announced this week.
Lease credit approval fell to 47.6% in September, the lowest percentage of the year and a noticeable drop from the 68.3% that was reported in August, according to car lease marketplace Swapalease.com.
CitiFinancial Credit Company has agreed to pay $907,000 to resolve allegations that it violated the Servicemembers Civil Relief Act (SCRA) by repossessing 164 cars without first obtaining the required court orders.
Lease credit approvals reached 68.3% in August, a 14% increase from the previous month and an 11% increase from the same time last year, according to lease marketplace Swapalease.
Approvals for vehicle leases fell 14.5% to 54.3% in July from the prior month partly because an influx of students with lower credit scores applied for vehicle leases ahead of the college school year, reports Swaplease.com.
About 68.8% of the people that applied for leases in June were approved, a 20% improvement over the month before, according to car lease marketplace Swapalease.com.
Car lease credit applicants registered a 72.2% approval rate in February, a 33.3% increase from January’s 50% approval rate but flat with a year ago, according to Swapalease.com.