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.

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  • 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.
  • Minorities Slapped with Higher Auto Rates: Report 
    Credit Union Times 27 Jan 2014
    Latino and African-American car buyers still receive higher interest rates on loans financed through dealers, according to a new report, "Non-Negotiable: Negotiation Doesn’t Help African ...
  • Subprime Loans Boost Car Sales 21 Jan 2014
    Home and auto sales historically have moved higher or lower in tandem, but lately auto sales have been rising at a much faster clip than real estate sales.
  • Charlotte Car Dealership Accused of Predatory Lending Practices Against Blacks 
    Associated Press 13 Jan 2014
    The federal Department of Justice, along with state prosecutors in North Carolina, has filed suit against a pair of "buy here pay here" auto dealerships that are charged with preying on African ...
  • Cordray Vows 'Openness' with Auto Lenders 
    American Banker 13 Nov 2013
    Consumer Financial Protection Bureau Director Richard Cordray acknowledged concerns Nov. 12 about how the agency is regulating indirect auto lenders, promising to be more transparent about its oversight.
  • Automakers’ Lending Practices Probed by U.S. for Bias 
    Bloomberg Businessweek 20 Sep 2013
    The Consumer Financial Protection Bureau (CFPB) and the Justice Department are investigating the lending operations of several major auto manufacturers, looking for possible discrimination.
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