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Subprime Up 13% as Total Auto Originations Decline

Subprime Up 13% as Total Auto Originations Decline

Originations for car buyers and lessees with sub-620 credit scores grew 13% to $27.9 billion, accounting for 21.8% of total outstanding auto balances in the Fed's latest Household Debt and Credit report.

May 28, 2019

New Vehicle Sales Down 2.3% in April

New Vehicle Sales Down 2.3% in April

U.S. new-vehicle dealers sold 1,328,649 cars and light trucks in April, a 2.3% year-over-year decline and a full 3% loss to start the year compared with the first four months of 2018.

May 3, 2019

Embattled Wells Fargo Chief Steps Down

Embattled Wells Fargo Chief Steps Down

Tim Sloan, president and CEO of Wells Fargo & Co., will retire June 30, the bank announced. General Counsel Allen Parker will serve as interim chief executive while the search for a new leader is conducted.

March 29, 2019

Auto Loans Reach $1.14 Trillion

Auto Loans Reach $1.14 Trillion

Average monthly payments for new-vehicle purchases ($530), new-vehicle leases ($430), and used vehicles ($381) all reached new highs, growing by 4% to 6% year-over-year. Auto loans now account for a full 8% of all outstanding consumer debt — up from 6% just a decade ago.

February 22, 2019

Recouping a Better Return When Selling Fleet Vehicles

Recouping a Better Return When Selling Fleet Vehicles

By implementing one or two new strategies — such as timing sales based on mileage or seasonality, expanding sales channels, or considering purchasing options — small fleet operators can return more money to their fleet’s bottom line.

January 25, 2017

3 Options for Selling Cars Online

3 Options for Selling Cars Online

The Internet offers several avenues for small fleets to remarket out-of-service cars, trucks and vans. Here are three ways to get started.

March 1, 2010