Fed announces fourth consecutive ‘jumbo’ increase in effort to slow inflation.
CEO acknowledges that greater market woes may be on the horizon.
While it’s a good sign that approval percentages continue to climb, we are still far below the levels we saw before the pandemic.
As auto loans and credit apps rise, it appears Americans are more willing to take on debt.
TransUnion study finds borrowers used auto loan deferments as a safety net during the COVID-19 crisis.
Edmunds says the average APR for a U.S. new-vehicle loan was 6.36% in March, putting dealers and consumers on the cusp of a ‘dramatic shift’ toward the used-car market.
SAN FRANCISCO and NEW YORK — The country’s largest auto lender, Wells Fargo, tempered its auto lending activities during the first quarter of 2015, officials reported during a conference call this week. Also reporting quarterly earnings was J.P. Morgan Chase, which saw solid loan and lease growth in the automotive space. Auto originations at Wells ... Read More »
IRVINE, Calif. — A statement released by Wells Fargo Dealer Services didn’t deny the bank has placed a cap on subprime auto loans for this year, but it stopped short of saying the move was the bank’s response to media claims of an overheating auto finance market. Citing unnamed executives from Wells Fargo, The New ... Read More »
CHICAGO — The millennial generation is the fastest-growing segment of auto loan consumers, according to TransUnion’s latest auto report. Millennials — consumers born in 1981 or after — represented 27% of total auto loan originations in 2014, up from 16% of total originations in 2009. Millennials’ total outstanding auto balances have increased 23% in the ... Read More »
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