McLEAN, Va. — Capital One notified dealers in New York and New Jersey in August that it made a business decision to discontinue dealer floor plan financing, effective Nov. 15, 2008, a company spokesperson explained to SubPrime Auto Finance News this ... [Read More]

SCHAUMBURG, Ill. — Taking an in-depth look into Experian Automotive's Auto Finance Study called "Riding Out the Storm," SubPrime Auto Finance News discovered some important trends, including the fact that auto loan delinquencies are climbing, with more than $25 billion past ... [Read More]

WASHINGTON, D.C. — After the average interest rate on new-car loans at auto finance companies dropped significantly to 3.28 percent in July, this measurement bounced back to 5.11 percent in August, according to the latest statistics released by the Federal Reserve ... [Read More]

GREENWOOD VILLAGE, Colo. — The American Financial Services Association recently welcomed among its nationwide membership Universal Special Auto Finance and apparently wasted no time in tapping Universal's chief executive officer John Scordo to serve on its Vehicle Finance Advisory Board. "AFSA ... [Read More]

ORLANDO, Fla. — MenuVantage announced it has incorporated a no-cost Red Flags Rule compliance solution that is seamlessly integrated into its menu-selling software and embedded into the sales process. MenuVantage's Red Flags Rule solution is an automated compliance solution that can help ... [Read More]

ALEXANDRIA, Va.— While U.S. consumer bankruptcy filings for September came in at double digits higher than the same period of last year, filings were down 8 percent from August. More specifically, filings increased 28.6 percent nationwide over a year ago, ... [Read More]

WESTLAKE VILLAGE, Calif. — What is the best way to drive lender success in these troubled times? According to J.D. Power and Associates it boils down to just one thing — dealer relationship. Releasing its J.D. Power and Associates 2008 Dealer Financing Satisfaction ... [Read More]

FORT WORTH, Texas — Despite a tough securitization market, AmeriCredit announced this morning that it priced a $500 million offering of primarily subprime auto receivables-backed securities under its AmeriCredit Automobile Receivables Trust platform. The pricing took place on Monday, officials noted, ... [Read More]

WASHINGTON, D.C. — In an interesting twist, the American Bankers Association recently reported that delinquencies on indirect and direct auto loans have declined. According to the ABA's Consumer Credit Delinquency Bulletin, indirect auto loan delinquencies fell from 3.09 percent to 3.07 ... [Read More]

NEW YORK — Fitch Ratings announced this week that annualized net losses on prime auto loan asset-backed securities in August came in at a record level. More specifically, U.S. prime auto loan ABS hit a record high of 1.73 percent in ... [Read More]