Jan 31, 2025 · Auto Finance News provides the latest updates and insights on the auto finance industry, including fraud cases, financing trends, and program developments.

Nov 26, 2024 · As we approach 2025, the auto lending landscape is poised for a significant shift, driven by the Federal Reserve ‘s interest rate reductions in the latter half of 2024. These rate cuts are expected to sow the seeds for a bump in auto loan refinancing activity, presenting both opportunities and challenges for lenders in the coming year.

Jan 2, 2025 · Auto loan rates on new and used vehicles fell year over year in December following the third consecutive rate cut from the Federal Reserve. For new vehicles, the national average interest rate on a 60-month loan was 7.83% as of Dec. 23, 2024, down 35 basis points (bps) YoY compared with data from Dec. […]

Jan 2, 2025 · Auto lenders have faced a year marked by affordability challenges, regulatory oversight and the need for innovation to be competitive. Some players scaled back while others implemented technology to find efficiencies in funding and servicing.

Jan 6, 2025 · In this episode of “Weekly Wrap,” Auto Finance News Editor Amanda Harris and associate editors Ashley Savage and James Van Bramer discuss the top stories and trends of 2024. Subscribe to “The Roadmap Podcast” on iTunes or Spotify or download the episode.

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Oct 11, 2024 · Wells Fargo and Volkswagen Financial Services entered a multiyear, co-branded agreement in the third quarter. “In the first half of 2025, we will be the preferred purchase financing provider for Volkswagen and Audi brands in the United States,” Wells Fargo Chief Executive Charlie Scharf said during the bank’s Q3 earnings call today.

Sep 18, 2024 · As the dog days of the sweltering summer heat begin fading into the rearview mirror and the fall color palate appears in the windshield, it seems like a good time to review earlier expectations of the automotive industry and how to prepare for the rest of the year.

Dec 10, 2024 · Three dealers fell victim to the same sophisticated fraud scheme in just one week. The story, spreading through dealership break rooms across the country, is becoming all too familiar. A new wave of digital payment fraud has hit the auto industry hard, with a particularly nasty scheme targeting Chinese-speaking communities through WeChat.

Apr 19, 2024 · Flagship Credit Acceptance laid off an undisclosed number of people on April 18 citing challenging market conditions. The Chadds Ford, Pa.-based subprime auto lender took steps to “align our costs to current market conditions,” according to a statement provided to Auto Finance News from a Flagship spokesperson. The company did not confirm how many […]