AutoNation CEO Mike Manley: ‘Important’ to have captive lender
AutoNation CEO Mike Manley said that he’s “pursuing” a captive finance company. Asbury Automotive and Penske Automotive…
As transaction prices rise, customers bring larger down payments to the table
Lenders are relying on strong underwriting standards to manage the negative-equity risk that comes with the soaring…
Inflated, understated income on car loan applications common
Twenty percent of auto loan applicants overstate their income by at least 10 percent, while another third…
Dealerships, other financial institutions must reach full compliance by December
But the logistics of compliance might be more manageable than a retailer would expect, according to Helion…
Grow Credit service promotes car dealership when customer’s FICO qualifies for loan
Grow Credit issues free, low-limit Mastercards to people lacking a credit history or with a poor FICO…
FTC action highlights rules for car dealerships hyping payments, APRs
A Federal Trade Commission ruling that an auto dealership advertiser violated the Truth in Lending Act might…
Financial challenges spur car buyer’s remorse, LendingTree, Credit Karma polls find
Credit Karma found 23 percent of recent vehicle buyers had regrets when polled in November, with many…
GM captive pays enough dividends to cover 2010 acquisition cost
GM Financial paid the automaker a dividend of $3.5 billion, matching the amount GM spent to acquire…
Vroom finalizes acquisition of auto lender United Auto Credit
Vroom, which indicated in October its intent to buy the lender, said adding United Auto as an…
U.S. Bank staff discriminated against car loan applicants from dealerships, suit claims
John Span alleged white former U.S. Bank colleagues discriminated against minority applicants by cherry-picking and adjusting terms…
