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Tag: auto loans
Subprime Auto Loans Get Stretched to Seven Years
2015-06-24 11:37:49| Auto Dealers - Topix.net
Of the subprime vehicle loans bundled into securities, 73 percent now exceed five years, up from 64 percent during the first three months of 2014, according to data from Citigroup Inc. Loans as long as seven years are increasingly being put into more bonds as auto-finance companies and Wall Street banks sell the securities at the fastest pace since 2007. The longer loans make it easier for consumers to afford rising new and used car prices by spreading out and lowering payments.
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Why Auto Loans From Car Dealers Are So Hard to Regulate
2015-06-09 07:07:25| Auto Dealers - Topix.net
When we think about borrowing money, the first thing that comes to mind is how much: How much we need, how much it'll cost, how much we'll have to pay each month and how much time it'll take to get out of debt . Whether the money's for a house, a car, college or for an unpaid credit card balance, these four financial variables-principal, interest rate, payment amount and term-are the fundamental building blocks for loans that are designed to be fully paid off by the time the last check is cashed.
NADA Releases Report on Impact of Auto Loans on Used Vehicle Prices
2015-05-28 00:36:13| AutomotiveDigest.com - Automotive Industry News
Jonathan Banks Executive Automotive Analyst NADA Used Car Guide Lender investments are expected to come increasingly under pressure as credit transitions from an exceptional period of low risk to one of decidedly higher risk. Credit conditions will continue to be favorable for some time, but not at quite the same unprecedented level. Credit conditions are […] The Article NADA Releases Report on Impact of Auto Loans on Used Vehicle Prices appeared first on Automotive Digest.
DEEPER AUTO LOANS CALL FOR BETTER DEALER SECURITY PRACTICES
2015-05-11 23:31:42| AutomotiveDigest.com - Automotive Industry News
Is the current $336B Subprime auto loan boom about to implode and become like the subprime mortgage bust of the past? Auto loan funders and securization underwriters are investing heavily. Credit standards are being relaxed. Lenders and dealers are going ever-deeper into subprime auto loans including Buy Here Pay Here lending programs Therefore, dealers must pay attention and be vigilant. This Thought Leader Series posting from David Meyer, Executive VP of Spireon outlines how GPS Tracking is a savvy solution for dealers to adopt for better security and risk abatement practices in subprime auto lending The Article DEEPER AUTO LOANS CALL FOR BETTER DEALER SECURITY PRACTICES appeared first on Automotive Digest.
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Outstanding Auto Loans Hit $886 Billion In 2014
2015-02-24 18:00:46| Auto Dealers - Topix.net
When you have a record year for car sales such as what happened in 2014, you can also expect a record number of auto-loans. Credit reporting bureau Experian says that Americans borrowed a staggering $866 billion dollars last year to finance new and pre-owned vehicles, but they maintain this is no cause for alarm.
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