Consumer Credit Archives

Some banks loosened standards on auto loans in Q2

By Automotive News – JOHN HUETTER Most bankers said they hadn’t changed their practices. But a few lenders reported easing maturity maximums and lowering minimum down payments. A moderately larger share of banks surveyed this summer said they eased standards...

September 15, 2021

Waning customer interest in cars swells loan size, payments for trucks

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Waning customer interest in cars swells loan size, payments for trucks

JOHN HUETTER – Automotive News Customers’ increasing preference for crossovers and SUVs means they’re making higher monthly payments and borrowing a few thousand dollars more to buy their vehicles, Experian said this month. Melinda Zabritski, Experian’s senior director of automotive financial...

August 24, 2021

DecisioningIT leader Hobbs recognized for financing platform

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

DecisioningIT leader Hobbs recognized for financing platform

Many consumers are locked out when it comes to being able to buy the vehicle they need. But thanks to a program developed by André-Martin Hobbs, they’re able to connect with dealerships to find the financing they need MONTREAL, Aug. 18,...

August 18, 2021

June Dealertrack Auto Credit Availability Index improves

Automotive Finance Automotive Lending Consumer Credit

June Dealertrack Auto Credit Availability Index improves

ATLANTA – (source) While consumer confidence might be mixed, Cox Automotive discovered more access to credit last month for potential vehicle buyers who needed it — especially if they had stronger credit backgrounds. According to the newest Dealertrack Auto Credit Availability Index...

July 15, 2021

Consumer Credit Latest News

Fintech revolution in Pakistan

The silver lining that came with the Corona pandemic was the rapid move towards digitalization in different sectors of the economy that had previously been moving at a tortoise pace! Financial inclusion of the rural areas is, in particular, crucial...

July 5, 2021

Consumer Credit Digital Retailing

Autotrader’s My Wallet can generate specific financing details during online shopping journey

Well done Jessica Stafford & Autotrader US! When making a large purchase decision like buying a vehicle, Autotrader stressed that consumers need to understand not only how it fits into the overall big picture of their finances but also how it impacts their...

June 7, 2021

Opinion: What do Curomax and DecisioningIT have in common?

Automotive Finance Consumer Credit F&I

Opinion: What do Curomax and DecisioningIT have in common?

Curo-who you may ask? A coworker with lots of automotive financing experience, recently told me that if he could, he’d prefer Curomax over Dealertrack in a heartbeat. Apparently, they disrupted automotive financing 20 years ago. 20 years ago I though!...

June 2, 2021

Payment Insights from Equifax leverages more alternative data

Automated Decisioning Consumer Credit Non-Prime Financing Prequalification

Payment Insights from Equifax leverages more alternative data

Equifax recently expanded its offerings connected with alternative data so finance companies still can cater to consumers with thin files or soft credit backgrounds. (Mark Luber) Developed in partnership with Urjanet, Equifax introduced Payment Insights, a cloud-based solution that promotes greater financial...

April 19, 2021

Consumer perceptions about pre-qualification still uncertain

Consumer Credit Credit Approvals Digital Retailing Prequalification

Consumer perceptions about pre-qualification still uncertain

CAMBRIDGE, Mass. – The CarGurus consumer sentiment study focused on auto finance found a significant portion of participants said that receiving pre-qualification for financing before visiting the dealership would be useful. “Our research found that consumers are eager to purchase a vehicle...

March 10, 2021

Auto Industry Message To New-Car Shoppers With Subprime Credit: Forget It

Automotive Finance Automotive Lending Consumer Credit Non-Prime Financing

Auto Industry Message To New-Car Shoppers With Subprime Credit: Forget It

Article from Jim Henry below. I don’t have the same opinion. Multiple OEMs already offer subvented rates to shoppers with subprime credit. I’ve been working on non-prime financing for over a decade now and there are multiple options for this...

February 28, 2021