Consumer Credit Archives

Cox economist Jonathan Smoke breaks down 10 predictions for the future of the auto industry

Source CBT News – Over the past few years, our industry has experienced changes in inventory, high prices, and electric vehicles. Can we anticipate more of the same in the coming year? On today’s episode of Inside Automotive, Jonathan Smoke, Chief Economist...

January 11, 2023

TransUnion 2023 forecast: Auto finance on surer footing than credit cards & personal loans

Consumer Credit Non-Prime Financing

TransUnion 2023 forecast: Auto finance on surer footing than credit cards & personal loans

Autoremarqueting.com – Auto finance appears to be in a much better state than credit cards and personal loans based on TransUnion’s 2023 Consumer Credit Forecast released on Wednesday. While experts are expecting delinquency rates for credit card and personal loans...

January 4, 2023

Banned, fined Calif. dealer says AG’s office wore him down into settling for $1.7 million

Consumer Credit

Banned, fined Calif. dealer says AG’s office wore him down into settling for $1.7 million

Autonews.com – A California used-vehicle dealer has accepted a decade-long ban from the industry and paid the state $1.7 million as part of a settlement to resolve violations the state says include 650,000 misleading advertisements, 20,000 instances of “power-booking” and...

December 27, 2022

Q3 closes with improved credit availability

Automotive Finance Automotive Lending Consumer Credit

Q3 closes with improved credit availability

Chart courtesy of Cox Automotive. By SubPrime Auto Finance News Staff Sales might have softened in September, but Cox Automotive indicated credit for auto financing improved as the third quarter closed. According to the newest Dealertrack Credit Availability Index released...

October 17, 2022

TransUnion examines EV’s market growth & consumer credit profiles

Automotive Lending Consumer Credit

TransUnion examines EV’s market growth & consumer credit profiles

Source: Auto Remarketing – A new TransUnion study conducted in collaboration with S&P Global Mobility determined the registered electric vehicle market share is expected to grow from 5% at the end of 2021 to approximately 40% by 2031. Analysts also...

July 22, 2022

Auto defaults now sit 32 basis points higher than all-time low

Consumer Credit

Auto defaults now sit 32 basis points higher than all-time low

Auto Remarketing – Perhaps your portfolio is experiencing a bit more turbulence, but overall auto defaults are just 32 basis points higher than the all-time low set a year ago. That metric surfaced on Tuesday when S&P Dow Jones Indices...

July 19, 2022

DecisioningIT named Top 50 Most Innovative Companies to Watch 2022

Automated Decisioning Automotive Finance Automotive Lending Consumer Credit Credit Approvals Digital Retailing F&I Non-Prime Financing Prequalification

DecisioningIT named Top 50 Most Innovative Companies to Watch 2022

Humans have been thriving on innovation since the dawn of time. Technology innovation was a game changer in human lifestyle, and we haven’t looked back since. With an array of technological solutions for almost every problem, technology began to grow,...

May 1, 2022

DecisioningIT Named Among 50 Leading Companies of the Year 2022 by The Silicon Review Magazine

Automated Decisioning Automotive Finance Automotive Lending Car Dealerships Consumer Credit Digital Retailing F&I

DecisioningIT Named Among 50 Leading Companies of the Year 2022 by The Silicon Review Magazine

Achieving a prominent position in the industry gives a company several advantages: pricing power, brand recognition, and a loyal customer base. A business should first aspire to lead its local markets before planning for worldwide industry domination. So what makes...

April 14, 2022

Financial challenges spur car buyer’s remorse, LendingTree, Credit Karma polls find

Automotive Finance Consumer Credit

Financial challenges spur car buyer’s remorse, LendingTree, Credit Karma polls find

Owners in $75,000-plus households struggle more with car payments than the average consumer JOHN HUETTER – Automotive News Financial concerns are a key component of a vehicle buyer’s remorse, Credit Karma and LendingTree polling revealed late last year. A November Credit...

February 9, 2022

Experian expands credit-building tools for consumers

Consumer Credit

Experian expands credit-building tools for consumers

By SubPrime Auto Finance News StaffCOSTA MESA, Calif. – Another initiative to help finance companies cater to consumers with little or no credit backgrounds recently surfaced; this time from Experian. In what the company said is meant to further financial inclusion...

January 31, 2022