News
Tariff Burden Making New Vehicles Less Affordable
New-vehicle affordability declined in April to the worst level yet this year as the bite of higher prices and lower incentives reversed an improving trend.
Read More →New-vehicle affordability declined in April to the worst level yet this year as the bite of higher prices and lower incentives reversed an improving trend.
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As a new member of the International Automotive Remarketers Alliance (IARA) board of directors, Steve Solomon, VP of asset remarketing for Santander Consumer USA, is not only excited to engage with like-minded individuals, he is also looking to further grow in an industry that he has been a part of for nearly two decades.
Read More →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.
Read More →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.
Read More →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.
Read More →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.
Read More →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.
Read More →Household debt rose by $226 billion to $12.58 trillion in the fourth quarter 2018, the highest quarterly increase since the fourth quarter 2013. It now sits just below its peak of $12.68 trillion in the third quarter 2008, according to the latest Quarterly Report on Household Debt and Credit from the Federal Reserve Bank of New York.
Read More →Primeritus Financial Services, Inc., a provider of recovery management, skip tracing, and remarketing services to the U.S. auto finance industry, has acquired Global Investigative Services, LLC (GIS), according to a company announcement.
Read More →A notable deterioration in the performance of subprime auto loans in the third quarter has shown approximately 6 million individuals that are at least 90 days late on their auto loan payments, the Federal Reserve Bank of New York has found.
Read More →The Consumer Financial Protection Bureau (CFPB) has begun actively evaluating the practices of vehicle repossession firms around the handling of personal property recovered from a repossessed vehicle.
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