eWeekly
 |
Hot Forum Topics | ||||||
|
|||||||
| Special Finance eWeekly | Jan 14, 2010 |
Welcome to Special Finance eWeekly, your weekly source for the latest news and alerts from the world of subprime, nonprime and nearprime automotive finance.
| Latest News |
Pennsylvania AG Files Lawsuit Against Used-Car Warranty Company
A Lackawanna County, Penn., used-car warranty company and its operators, accused of defrauding thousands of motorists across the country, are the subject of a lawsuit filed by the state’s Attorney General's Bureau of Consumer Protection. Read Full Story
A Lackawanna County, Penn., used-car warranty company and its operators, accused of defrauding thousands of motorists across the country, are the subject of a lawsuit filed by the state’s Attorney General's Bureau of Consumer Protection. Read Full Story
Auto ABS Performs Well in 2009 Despite Pressure From High Unemployment
The U.S auto loan ABS sector has performed relatively well in 2009 compared to other ABS asset classes despite the increase in unemployment, bankruptcies of GM and Chrysler and the volatility in the used-car market, according to ratings firm DBRS. Read Full Story
The U.S auto loan ABS sector has performed relatively well in 2009 compared to other ABS asset classes despite the increase in unemployment, bankruptcies of GM and Chrysler and the volatility in the used-car market, according to ratings firm DBRS. Read Full Story
FTC and Federal Reserve Issue Risk-Based Pricing Rules
In what is expected to have a big impact on the special-finance marketplace, the Federal Trade Commission (FTC) and the Federal Reserve Board (FRB) issued in late December finalized rules that will require creditors, including dealers, to alert consumers when derogatory credit data causes them to receive less than optimal terms. The rule is expected to take effect Jan. 1, 2011. Read Full Story
In what is expected to have a big impact on the special-finance marketplace, the Federal Trade Commission (FTC) and the Federal Reserve Board (FRB) issued in late December finalized rules that will require creditors, including dealers, to alert consumers when derogatory credit data causes them to receive less than optimal terms. The rule is expected to take effect Jan. 1, 2011. Read Full Story
Western Sierra and Experian Help Dealers Reach Creditworthy Consumers
Western Sierra Acceptance Corp., a consumer lender based in Northern California that specializes in automotive financing, and Experian Automotive will provide credit prescreen services to dealers to help them more easily and effectively market to auto finance consumers. Read Full Story
Western Sierra Acceptance Corp., a consumer lender based in Northern California that specializes in automotive financing, and Experian Automotive will provide credit prescreen services to dealers to help them more easily and effectively market to auto finance consumers. Read Full Story
Survey Says Auto Industry’s Image Improves With Gen Y
At 75 million strong and coming of age, Generation Y may have what it takes to re-shape the wavering U.S. automotive industry, according to a new survey. Read Full Story
At 75 million strong and coming of age, Generation Y may have what it takes to re-shape the wavering U.S. automotive industry, according to a new survey. Read Full Story
U.S. Light Vehicles Expected to Grow 10.2 Percent in 2010
U.S. light vehicle sales could reach 11.5 million units this year if the nation’s real gross domestic product (GDP) hits 2.9 percent, according to a forecast by R.L. Polk & Co. Read Full Story
U.S. light vehicle sales could reach 11.5 million units this year if the nation’s real gross domestic product (GDP) hits 2.9 percent, according to a forecast by R.L. Polk & Co. Read Full Story
Consumer Loan Delinquencies Decline in 3Q 2009
The auto finance industry is showing signs of improvement as direct and indirect auto loan delinquencies both dropped in the third quarter 2009, according to the American Bankers Association. Read Full Story
The auto finance industry is showing signs of improvement as direct and indirect auto loan delinquencies both dropped in the third quarter 2009, according to the American Bankers Association. Read Full Story
Interest Rates Increase Slightly in November, Says Federal Reserve
Consumer credit dropped 8.5 percent in November 2009, the lowest figure of the year, according to the Federal Reserve’s monthly report. Read Full Story
Consumer credit dropped 8.5 percent in November 2009, the lowest figure of the year, according to the Federal Reserve’s monthly report. Read Full Story
Virginia Surety Strikes Benefit Agreement with IAC
Virginia Surety Company Inc. (VSC), a subsidiary of The Warranty Group Inc., formed an agreement to provide home and appliance warranties, identity theft protection and travel benefits to Individual Assurance Company (IAC) as an expansion of VSC’s financial institution offerings. Read Full Story
Virginia Surety Company Inc. (VSC), a subsidiary of The Warranty Group Inc., formed an agreement to provide home and appliance warranties, identity theft protection and travel benefits to Individual Assurance Company (IAC) as an expansion of VSC’s financial institution offerings. Read Full Story
Nationwide Acceptance Corporation Joins RouteOne
RouteOne LLC announced Jan. 14 that it has completed integration with independent subprime lender Nationwide Acceptance Corporation (NAC). Dealers in all of the markets served by NAC may now process credit applications electronically to NAC through the RouteOne platform. Read Full Story
RouteOne LLC announced Jan. 14 that it has completed integration with independent subprime lender Nationwide Acceptance Corporation (NAC). Dealers in all of the markets served by NAC may now process credit applications electronically to NAC through the RouteOne platform. Read Full Story
The January 2010 issue of F&I and Showroom is here. Check out the magazine’s cover story on the NADA’s strategy to jumpstart dealer financing, and get Experian Automotive’s analysis of 3Q 2009 auto finance data. Also in this issue is a one-on-one interview with Friendly Financial Corp., which has been in the business of financing the undesirable since 1949. In addition, check out what F&I guru Ron Martin has to say about the evolution of the front-end.
For comments or questions regarding our eNewsletter and magazine or the special finance industry, please e-mail Gregory Arroyo, executive editor of Special Finance, at gregory.arroyo@bobit.com.
| Featured Stories | |||||||||||||||
|
Visit F&I Magazine's Website for more news
Prepared by:
Greg Arroyo
Executive Editor
310-533-2592
greg.arroyo@bobit.com
Justina Ly
Associate Editor
310-533-2496
justina.ly@bobit.com