Consumer Credit Archives

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

Andre-Martin Hobbs shortlisted for Top 50 Artificial Intelligence CEOs of 2021

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

Andre-Martin Hobbs shortlisted for Top 50 Artificial Intelligence CEOs of 2021

Technology Innovators – Artificial Intelligence CEOs Edition André-Martin Hobbs has developed cutting-edge technology in the field of automotive marketing for over two decades. A digital entrepreneur and a passionate race driver, André-Martin’s undying love for the automobile industry, coupled with...

December 17, 2021

Consider credit ‘soft pulls’ at start of sales process

Automotive Finance Car Dealerships Consumer Credit Credit Approvals F&I Non-Prime Financing Prequalification

Consider credit ‘soft pulls’ at start of sales process

JOHN HUETTER – Reporter covering the finance-and-insurance business and auto retailing for Automotive News Performing a soft pull on a customer’s credit at the start of the buying process can improve sales and reduce awkward conversations in the F&I office, according...

October 21, 2021

TransUnion: 18.7M consumers improved their credit scores while in hardship programs

Consumer Credit

TransUnion: 18.7M consumers improved their credit scores while in hardship programs

By SubPrime Auto Finance News Staff – Get the TransUnion “Determining the Risk of Bankcard Consumers Masked by Suppressed Delinquencies” report. Perhaps here’s something that both consumers and finance companies can take as a positive from COVID-19. Despite financial challenges...

October 20, 2021

3 Reasons Why Auto Dealers Will Need a Lending Solution Refresh in 2022

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

3 Reasons Why Auto Dealers Will Need a Lending Solution Refresh in 2022

VANCOUVER, BC / ACCESSWIRE / September 27, 2021 / Our world has been turned upside down in the past 18 months. As the pandemic swept around the globe it touched every single industry in some way. With quarantines, shutdowns, and lockdowns,...

September 29, 2021

Mixed trends within Cox Automotive’s financing indexes for August

Automotive Finance Automotive Lending Consumer Credit

Mixed trends within Cox Automotive’s financing indexes for August

ATLANTA – Cox Automotive’s newest updates of indexes that track auto financing showed mixed developments with regard to dealerships being able to get their potential buyers financed and providers’ appetite to build portfolios. First, according to the Dealertrack Auto Credit Availability Index,...

September 16, 2021

Some banks loosened standards on auto loans in Q2

Automotive Lending Consumer Credit

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