SCHAUMBURG, Ill. — As average loan terms for a new vehicle in the fourth quarter jumped to an all-time high, Experian Automotive also discovered the amount of financing for deep subprime buyers climbed significantly, too. Experian said the average new-vehicle ... [Read More]

GAINESVILLE, Ga. — According to a new report developed by Black Book and Fitch Ratings, vehicles are likely to depreciate at a greater degree this year, though not enough to present any major obstacles to U.S. auto loan and lease ... [Read More]

WASHINGTON, D.C. — As the agency's investigations within the auto lending space deepen, the ongoing clash about whether Richard Cordray will remain director of the Consumer Financial Protection Bureau will continue next week. The U.S. Senate Committee on Banking, Housing ... [Read More]

LAKE SUCCESS, N.Y. — Dealertrack Technologies announced the next free webinar to help dealers and F&I managers remain compliant. The next session titled, "OFAC Checks, Risk-Based Pricing and Adverse Action Notices: Three Critical Tasks for Your Dealership," will take place ... [Read More]

BANDON, Ore. — It is appearing to be a successful tax season for dealers if the February data from CNW Research is any indication. CNW said the number of subprime buyers of used vehicles soared 53.2 percent in February versus ... [Read More]

CARMEL, Ind. — J.D. Byrider watched the fourth quarter become the largest growth period in the history of the buy-here, pay-here dealership chain. To generate $142.6 million in sales from October through December, the company turned a record number of ... [Read More]

DETROIT — Ally Financial launched a new advertising campaign for its U.S. automotive business today as the company continues to look to grow and diversify its dealer client base. With the new theme, "Ally. It's more than our name, it's ... [Read More]

TUCSON, Ariz. — Vendor Transparency Solutions, an Arizona-based compliance management company, and Michael Dougherty of Weltman, Weinberg & Reis, a large creditors' rights law firm, are announcing the launch of a series of free Consumer Financial Protection Bureau compliance webinars. ... [Read More]

NEW YORK — Fitch Ratings discovered this week that both prime and subprime U.S. auto ABS losses have risen in recent months. However, analysts think the trend is likely a "speed bump" that's fleeting as the sectors enter a seasonally ... [Read More]

LOS ANGELES — Marubeni Corp., which owns a 20 percent stake in Westlake Financial Services and has two seats on the company board, announced the promotion of an executive to general manager of Marubeni Automotive Department-I among other changes. Relocating ... [Read More]