Carleton’s Tim Yalich urges dealers and finance sources to face the “critical reality” of the complexity, challenges and profitability risk that underlies lease payment calculations. +
Kelley Blue Book reports the average transaction price for a U.S.-sold new vehicle exceeded $50,000 for the first time in September despite increased incentive spending. +
Fifth Third Bancorp will acquire Comerica Inc. in an all-stock transaction valued at $10.9 billion, creating the nation’s ninth-largest bank with approximately $288 billion in assets. +
Edmunds’s Q3 auto finance report shows the average down payment for a new vehicle fell to $6,020 while $1,000-plus monthly payments, loan terms and interest rates remain high. +
A new Carleton survey finds lending, banking, finance and fintech professionals are both optimistic and cautious toward new systems designed to improve speed, accuracy and compliance. +
Under pressure from the White House and troubling inflation reports, the Federal Reserve Board voted to reduce its target lending rate by a quarter-point to 4% to 4.25%. +
Representatives of major trade associations tell Automotive News a study that found evidence of discriminatory auto lending practices relies on flawed methodology and incomplete data. +
JPMorgan Chase, Fifth Third and Barclays are among the credit line providers facing massive losses as retailer and subprime lender Tricolor Auto enters bankruptcy proceedings. +
A new Carleton survey of 2,000 U.S. lending, bank, auto finance and fintech professionals finds the majority experience loan payment discrepancies on a weekly or monthly basis. +
Experian’s Q2 auto finance report shows stability in loan amounts, monthly payments and delinquencies, belying a fight for auto finance market share that banks are now winning. +
