CDK Global says result dipped from 85% to 81% in November.
New programs stem from Lotus Cars USA and Santander Consumer partnership.
Guidance applies to dealers, lenders and original equipment manufacturers.
Experian reports their financing rate outpaces banks and credit unions.
Consumers financed more than 91,000 used electric vehicles (EVs) in 2022, up 45% from 2021, according to Experian data.
In 2021, the company installed a limited distribution of financing kiosks in dealer showrooms, giving customers the ability to apply for a recreational loan in under five minutes and without ever leaving the dealer’s lot.
WASHINTON, D.C. — The Consumer Financial Protection Bureau’s targeting of the indirect auto financing channel is taking fire once again. On Monday, the The Wall Street Journal published its second op-ed piece questioning the bureau’s tactics. Later that evening, Congressional lawmakers introduced a new bipartisan House bill that aims to rescind the CFPB’s March 2013 ... Read More »
WASHINGTON – The National Automobile Dealers Association (NADA), the American International Automobile Dealers Association (AIADA), and the National Association of Minority Automobile Dealers (NAMAD) today applauded the efforts of five financial services organizations to fix the serious flaws in the Consumer Financial Protection Bureau’s approach to regulating auto financing. The groups, which include the American ... Read More »
WASHINGTON, D.C. – The American Financial Services Association offered its latest rebuttal this morning to contentions by the Consumer Financial Protection Bureau about problems with the indirect auto financing process, reported Auto Remarketing. A comprehensive study commissioned by AFSA of more than 8.2 million auto financing contracts found that the disparity alleged by the CFPB ... Read More »
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