When people go car shopping, they usually focus on the vehicle they want— not the loan that will pay for it. But good financing is the bedrock of a solid car deal, and missteps could cost you thousands. "Once you shake hands with the car salesman, you are not done," says Oren Weintraub, president of Authority Auto in Tarzana, California.
NEW YORK, July 12- Wells Fargo& Co is scaling back and remolding its auto lending business in response to growing stress in the market, as well as a bank-wide push for more centralized risk controls. Wells, which was the No. 2 U.S. provider of auto loans less than a year ago, has already cut quarterly originations by nearly 30 percent over the nine months leading into...
Only the Washington, D.C., metro area has median income high enough to afford the average new-car price.
Consumers may have more leverage in the used car market this summer, but that's not the only avenue to trim your bills.
WASHINGTON, June 12- The U.S. Supreme Court on Monday declined to widen the reach of a federal law targeting abusive debt-collection tactics such as harassment and threats, ruling it does not cover companies that buy debt, sometimes for pennies on the dollar, and then collect it. The four Maryland residents had defaulted on car loans and had sought to sue Santander.
Rick Rieder, global chief investment officer of fixed income at BlackRock, weighs in on students loans, consumer debt and the economy.
CNBC's Phil LeBeau reports the latest on the big drop in the number of subprime loans being written and if it could hurt car sales.
CNBC's Phil LeBeau has the details of a new report showing lenders are beginning to realize too much subprime lending is not good.
CNBC's Phil LeBeau reports on the climate for subprime loans for autos. Scott Adams, president of Adams Automotive Group, discusses the decline in loans for the industry.
The world’s banks have become safer since the crisis, but economic risks have spread elsewhere, said former RBI governor Raghuram Rajan.
Autosales are topping out, meaning they are well-matched for consumer incomes; U.S. economic growth is likely to disappoint in the next few quarters, says Wells Fargo's Margaret Patel.
SmartAsset.com ranked the top 10 U.S. states (and, in one case, federal district) whose citizens have the most personal debt.
WASHINGTON, April 18- The U.S. Supreme Court on Tuesday appeared skeptical of widening the scope of who can be subject to a federal law targeting debt collectors' abusive practices by including those who buy debt, sometimes for pennies on the dollar. A lower court had dismissed the case brought by four Maryland residents who had defaulted on car loans.
Car sales slowed down in March, and it took economists by surprise.
April 10- U.S. consumers are taking out debt at a far faster rate than their incomes or the economy are growing, and just as we may be hitting a peak in employment. U.S. consumers have run up over $1 trillion on credit cards, hitting a level not seen since January 2009 and up 6.2 percent from a year ago. Student and auto loans are also at $1- trillion- plus levels and also...
America's college debt is touching new highs.
The latest subprime fear in the auto industry already has investors worried.
The global financial crisis is still looming but the latest subprime fear in the auto industry has already started to worry investors.
D.R. Barton, MoneyMorning.com, says an underlying reason for disappointing car sales could be overheated subprime auto loans.
DETROIT, March 27- As U.S. auto sales have peaked, competition to finance car loans is set to intensify and drive increased credit risk for auto lenders, Moody's Investors Service said in a report released on Monday. "The combination of plateauing auto sales, growing negative equity from consumers and lenders' willingness to offer flexible loan terms is a...