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An Ally/Harris survey of U.S. consumers found only 21% had purchased a vehicle service contract, propelling their average five-year maintenance and repair costs to nearly $2,000.
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Six operators of a nonexistent auto finance company have been sentenced to federal prison or probation for fraudulently obtaining $1.7 million worth of loans from banks and credit unions.
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Matching payments program provider SMART Payment Plan is seeking agents to represent the company in 30 new U.S. markets.
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Lease approval ratings improved in July following a slight dip in June, according to the latest report from Swapalease.com.
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The U.S. Department of Justice announced Nissan Motor Acceptance will pay $3 million to settle charges that it unlawfully repossessed 113 vehicles belonging to active military members.
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The average interest rate for a U.S. new-vehicle loan fell below 6% for the first time all year as automakers and dealers extended model-year selldown promotions.
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Facing new global realities and pressure on multiple fronts, the Federal Reserve cut interest rates for the first time in more than a decade in an attempt to prolong the economic expansion.
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US Equity Advantage has expanded its Orlando headquarters by 40% to accommodate a growing workforce.
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Black Book analysts say full-size vans and premium sports cars helped used-vehicle values start summer on a strong note, ticking up 0.6% from May to finish at 115 in June.
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Black Book has unveiled Asset Verification Tool, a proprietary VIN-level identifier designed to help auto finance sources reduce the risk of fraud at loan origination.
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