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S&P Global Mobility reports auto loan delinquency exceeded recession-era highs in the first quarter.
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January saw a significant drop in lease originations, as finance sources placed a greater emphasis on loan incentives, according to Equifax. The firm also reported that subprime accounts fell to their lowest share of the market since 2006.
Read More →Every type of debt posted a quarter-over-quarter increase, with auto loan balances increasing by $22 billion ($93 billion from a year ago) to $1.16 trillion. Much of that growth was driven by originations, which totaled $142 billion. That’s the highest level recorded in the 18-year history of New York Fed’s data.
Read More →Despite auto loan balances rising by $101 billion, delinquencies remained flat from a year ago. Officials with the credit reporting agency said their seeing controlled and deliberate growth by lenders.
Read More →Wells Fargo and Chase Auto Finance grew third-quarter auto originations by 10% and 19%, respectively, with a Wells Fargo official noting that new auto sales were at their highest levels in a decade.
Read More →The country’s largest auto lender, Wells Fargo, tempered its auto lending activities in 2015’s first quarter, with new originations down 10% from the previous year. Also reporting was J.P. Morgan Chase, which increased originations by 9%.
Read More →Fiserv reports that econtracts comprised nearly 20% of all funded contracts on its end-to-end auto loan origination solution.
Read More →Users of FirstClose's online loan origination service will now be able to offer an exclusive auto appearance service plan designed by Dent Wizard, the two companies announce.
Read More →Auto loan originations totaled more than $196 billion in May 2013, representing more than half of all new non-mortgage consumer credit originated in 2013, according to a new report from Equifax.
Read More →Chase, Wells Fargo and Huntington Bank report expanded auto lending in the fourth quarter 2012 vs. the same quarter in 2011.
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