There’s an App for that! Consumers Can Now Get Auto Loans Via Apps
Car owners have had an unstable 18 months. Mileage has fluctuated dramatically since March 2020, fuel prices have soared and there have been shortages of both new and used cars.
More Car Loans are going through Credit Unions
The credit union industry increased its share of the nation's auto loan market in the third quarter, led by new car loans, according to a report recently released by Experian.
Ultra-Wealthy Americans Bury the Middle Class With Savings Habits
It's easy to ridicule billionaire spending - like buying mansions or yachts - but their spending is a positive boost to our economy.
The Car Lending Landscape Continues Changing
As a result of changes in consumer behavior, both the auto loan and credit industries have changed dramatically. Ecommerce, environmental concerns and economic factors will present a major opportunity for financial institutions in the auto financing industry.
MotoRefinance to Offer Auto Loan, Insurance Bundling
It is prevalent for insurance organizations to try to persuade their customers to bundle all their policies with one carrier to provide them with all the coverage they need at once. Caribou, previously named The MotoRefi, is changing things up by offering both insurance and auto loan refinancing together in one package.
Consumers Can Get a Better Deal Buying the Cars They Leased
The prices of cars continue to increase every year. Despite this, there are still a few people who may be able to get good deals once the pandemic ends: those who leased a car before the pandemic, which will allow them to purchase it at the end of the lease.
Online Car Loans Make Things Easier for Crooks
Buying a car online is the most convenient option for consumers, but unfortunately, it also makes things easier for scammers. A woman in Forsyth County in Georgia is trying to undo an online car sale that happened with just a few keystrokes.
Prices of New Cars Increases an Average of $5k in One Year
If you're planning to purchase a car, you might need to pitch in a lot more than what you would have at the same time last year. According to a new report, you might need to spend $1,000 more on average to buy a new car.
Used Car Loans Make Carvana a Success
There has been a real secret to the success of Carvana Co., a used car dealer known for its vending machines, but it also handles auto loans in a way that drives revenue for the company.
Car Maxx, Operation Homefront Join Forces, Donate $100,000 to Military Families
While the nation pauses to honor veterans this month, CarMax Inc., the nation's largest used car retailer, announced a new partnership with Operation Homefront, a nonprofit organization that serves military families. Operation Homefront's highly regarded Critical Financial Assistance and other programs will be supported by an initial gift of $100,000 under the partnership.
LendingTree Study Finds Tesla Owners Have Longest Loans
A recent report published by LendingTree shows that people who buy Tesla are predicted to sign an auto loan for a longer-term than the average car. The average term indicated by the company for Tesla car owners is 67.1 months which is higher than any other automobile brand.
American car loan debt reaches nearly $1.5 trillion
There has been an increase in the price of new and used cars in recent years, especially over the past year and a half. With the price of automobiles rising, a perfect storm is brewing: buyers need to borrow money, and lenders are willing to charge high-interest rates.