Consumer Credit Archives

Navigating the Decline in US Subprime Auto Loans

The automotive finance sector continues to grapple with evolving market dynamics, as evidenced by the latest findings from TransUnion’s Q2 2024 Quarterly Credit Industry Insights Report. The report highlights a continued decline in subprime auto loan originations, a trend that...

August 12, 2024

Embracing AI for Financial Management: Insights from BMO’s Latest Survey

Consumer Credit

Embracing AI for Financial Management: Insights from BMO’s Latest Survey

Artificial Intelligence (AI) is increasingly becoming a vital tool for managing personal finances. The BMO Real Financial Progress Index has revealed that a significant number of Americans, especially Gen Z, are leveraging AI to enhance their financial management. This blog...

July 31, 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

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

Inflation and Auto Financing: What Borrowers Need from Lenders

Consumer Credit Non-Prime Financing

Inflation and Auto Financing: What Borrowers Need from Lenders

Drawing from Anne Hay’s insightful commentary in Auto Remarketing, subprime borrowers are facing unprecedented financial challenges due to inflation, particularly in the automotive sector. The article sheds light on the crucial support these borrowers need from lenders in these trying...

February 1, 2024

2024 Auto Market Forecast: Navigating Post-Pandemic Economic Swings

Consumer Credit Latest News

2024 Auto Market Forecast: Navigating Post-Pandemic Economic Swings

As we look back at the aftermath of the 2020 global COVID pandemic, it’s clear the economy and the auto market have experienced extraordinary shifts. Historic appreciation in vehicle values, dramatic drops in supply, and rapid changes in interest rates...

December 18, 2023

Wholesale Vehicle Prices in Canada Experience Sharp Decline, Surpassing Sixfold the Historical Average

Consumer Credit

Wholesale Vehicle Prices in Canada Experience Sharp Decline, Surpassing Sixfold the Historical Average

The Canadian automotive wholesale market witnessed a substantial decline last week, with average vehicle prices dropping significantly, marking the most considerable decrease of 2023. According to the latest data from Canadian Black Book (CBB), this decline surpassed six times the...

December 10, 2023

Auto Credit Trends and Pricing Insights: Navigating the New Vehicle Market

Automotive Lending Consumer Credit

Auto Credit Trends and Pricing Insights: Navigating the New Vehicle Market

In a recent update, Cox Automotive shared insights on new vehicle prices and the state of auto credit availability for October, as measured by the Dealertrack Auto Credit Availability Index. October saw a continuation of the trend that began in...

November 23, 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

Understanding the Trends and Dynamics in Used Car Pricing: An Analysis of Autozen’s Data

Consumer Credit

Understanding the Trends and Dynamics in Used Car Pricing: An Analysis of Autozen’s Data

Source: AutoZen Autozen’s recent data provides critical insights into the used car market’s depreciation rates and factors influencing these trends. The average depreciation for vehicles on the platform is 6.2% year over year, a marked improvement from historical rates that...

September 1, 2023