Latest Auto Lending News
Here are the latest news in the world of consumer auto lending. Stay informed on the latest practices affecting the cost of your next car loan and vehicle.
- Report Says New York Auto Insurers Unfairly Use Education Level, Occupation When Setting Rates
Associated Press 03 Apr 2014
A recent New York Public Interest Research Group (NYPIRG) analysis found that the state's largest auto insurers factor driver's education level and occupation when calculating policy rates, often ...
- Dealerships, Lenders Bolster Compliance Staffs in Face of CFPB Crackdown
Automotive News 02 Apr 2014
With the Consumer Financial Protection Bureau cracking down on auto lending practices, auto lenders and dealerships are expanding their compliance staffs.
- Why the DOJ Won?t Back Down on Auto Lenders
Washington Post 13 Mar 2014
Auto dealers have been receptive to new industry-generated pricing recommendations aimed at stamping out discrimination, but that is not enough to make the government step down its scrutiny.
- More Car Loans Exceed 6 Years as Prices Rise
USA Today 13 Mar 2014
More new-car buyers are choosing long loans stretching out past six years or going for leases in an effort to keep monthly payments in check as car prices climb.
- Subprime Auto Boom Besieged by Late-Payment Jump
Bloomberg 05 Mar 2014
A three-year lending boom to car buyers with flawed credit that helped push auto sales to a six-year high is starting to show signs of overheating.
- Americans Borrowing Record Amount to Buy Cars
CNBC News 04 Mar 2014
Americans are borrowing a record amount to pay for their cars, due in large part to a combination of higher prices for new cars and relatively low rates for auto loans.
- The Hidden Cost of Car Loans
US News 27 Feb 2014
Car dealers are cheating buyers by failing to disclose interest rate markups.
- Late-Payment Rate on U.S. Auto Loans Rose in Fourth Quarter
Associated Press 25 Feb 2014
Auto loan debt per borrower increased 4.4 percent to $16,769 in the final quarter of 2013 from a year earlier — the 11th consecutive quarter to post annual growth, according to the credit ...
- U.S. Chamber Pushes for Federal Auto-Lending Rules
Wall Street Journal 14 Feb 2014
The U.S. Chamber of Commerce wants the Consumer Financial Protection Bureau (CFPB) to give auto lenders a clearer road map for making car loans.
- Ally Holds Firm Against CFPB's Auto Lending Push
American Banker 10 Feb 2014
The Consumer Financial Protection Bureau (CFPB) and the Justice Department are clashing with lenders and dealerships over efforts to change the way auto loans get priced at U.S. car dealers.