Automotive Finance Archives

Navigating Tough Credit Conditions in the Auto Finance Industry

The auto finance industry is currently navigating a challenging landscape, marked by tightening credit conditions. These conditions are not only affecting consumers but also finance companies themselves. This blog post delves into the current credit environment, the challenges faced by...

July 22, 2024

TransUnion Examines the Impact of Expensive Debt on Auto Financing

Automotive Finance Consumer Credit

TransUnion Examines the Impact of Expensive Debt on Auto Financing

TransUnion’s latest report sheds light on how the rising cost of debt is influencing the auto financing landscape. As consumers face increasing financial pressures, the implications for the automotive market are significant. Key Findings Implications for Consumers For consumers, the...

July 11, 2024

Hyundai Capital and Other Lenders Embrace Automation in Credit Decisions

Artificial Intelligence Automotive Finance Automotive Lending

Hyundai Capital and Other Lenders Embrace Automation in Credit Decisions

Nashville, TN – At the Auto Finance Summit East, leaders from Hyundai Capital America and other auto lenders highlighted significant strides in automating credit decisions, resulting in quicker responses for dealerships and their customers. Marcelo Brutti, CEO of Hyundai Capital...

May 29, 2024

Understanding the Recent Tightening in Auto Credit Access

Automotive Finance Car Dealerships Consumer Credit

Understanding the Recent Tightening in Auto Credit Access

In April, auto credit access saw a slight tightening, reflecting ongoing economic challenges. Auto Remarketing’s article highlights several key factors influencing this trend: Key Points from the Article: Implications for Dealerships This tightening of auto credit means dealerships need to...

May 22, 2024

TD Auto Finance Welcomes Christopher Nabeta: Steering Toward a New Era in OEM Sales and Strategy

Automotive Finance

TD Auto Finance Welcomes Christopher Nabeta: Steering Toward a New Era in OEM Sales and Strategy

TD Auto Finance, a pivotal division of TD Bank, recently made a strategic addition to its team by appointing Christopher Nabeta as the Director of OEM Sales and Strategy for Canada. Nabeta, who assumed his new role in February after...

March 14, 2024

Navigating the Digital Shift: The Increasing Need for Advanced Credit Application Solutions in Auto Financing

Automated Decisioning Automotive Finance Car Dealerships

Navigating the Digital Shift: The Increasing Need for Advanced Credit Application Solutions in Auto Financing

The automotive finance industry is at a pivotal juncture, with digital transformation reshaping traditional business models and consumer interactions. A recent industry survey, commissioned by Wolters Kluwer and echoed by independent research conducted by DecisioningIT, has brought to light the...

January 22, 2024

Auto Financing Trends: A Turn for the Better in Q3 as Loan Amounts Decline and Options Increase

Automotive Finance

Auto Financing Trends: A Turn for the Better in Q3 as Loan Amounts Decline and Options Increase

As financial barriers begin to ease, new data reveals a positive shift for consumers and auto financing sectors grappling with affordability issues. The latest report from Experian analyzing third-quarter figures shows a decline in financed amounts for both new and...

December 1, 2023

Transunion’s Q2 2023 report: Canadians are sinking deeper into debt

Automotive Finance Automotive Lending Consumer Credit

Transunion’s Q2 2023 report: Canadians are sinking deeper into debt

As living costs skyrocket, Transunion’s Q2 2023 report uncovers a disturbing trend: Canadians are sinking deeper into debt. From soaring auto-loan balances to increased credit dependency and alarming delinquency rates among Gen Z, the nation’s financial resilience is at stake....

September 1, 2023

F&I Products: Driving Profit and Customer Satisfaction in the Changing Auto Industry

Automotive Finance F&I

F&I Products: Driving Profit and Customer Satisfaction in the Changing Auto Industry

Auto dealers and their manufacturing partners have long recognized the value of F&I (Finance and Insurance) products in enhancing customer satisfaction and safeguarding the investments consumers make in their vehicles. However, the economic landscape of 2023 has prompted dealers and...

June 23, 2023

Auto credit tightens again with banks expecting it to remain that way

Automotive Finance

Auto credit tightens again with banks expecting it to remain that way

Cox Automotive recently released a report stating that credit availability for auto finance has reached a two-year low. The April 2023 Senior Loan Officer Opinion Survey on Bank Lending Practices, conducted by the Federal Reserve, further indicated that this trend...

June 16, 2023