CNBC's Phil LeBeau reports the average auto loan is now averaging $27,430 according to Experian. The "Closing Bell" panel provides perspective on the data.» Read More
PARIS, Feb 13- PSA Peugeot Citroen and Banco Santander are close to agreement on a European car loans alliance that the French carmaker plans to unveil alongside a recapitalisation deal with Chinese partner Dongfeng, sources said on Thursday.
Feb 4- U.S. auto dealer Asbury Automotive Group Inc posted a better-than-expected quarterly profit as easier availability of loans amid an improving economy encouraged more people to buy cars.
*Shares hit a high of $26.45, valuing company at $9.19 bln. Jan 23- Shares of Santander Consumer USA Holding Inc, the auto-finance unit of Spanish bank Santander SA, rose as much as 10 percent in their U.S. market debut as investors expect the company to benefit from rising auto sales. As of Sept. 30, about $850 billion of auto loans were outstanding in the United States.
*Shares hit a high of $26.45, valuing company at $9.19 bln. Jan 23- Shares of Santander Consumer USA Holding Inc, the consumer finance unit of Spanish bank Santander SA, rose as much as 10 percent in their U.S. market debut. The shares opened at $25.75 on the New York Stock Exchange and touched a high of $26.45, valuing the company at $9.19 billion.
Jan 9- Santander Consumer USA Holdings Inc, the U.S. consumer-finance arm of Spanish lender Banco Santander SA, is seeking a valuation of up to $8.4 billion in an initial public offering. The company, which focuses on auto loans, said it expects the IPO to raise up to $1.56 billion, based on the sale of 65.2 million shares priced at between $22 and $24 per share.
Alec Gutierrez, Senior Market Analyst, Automotive Insights at Kelley Blue Book said low rates and enticing lease offers have helped to get consumers back into auto showrooms.
*General Electric's Swiss unit sets share sale price range. ZURICH, Oct 16- General Electric's flotation of its GE Money Bank is expected to value the Swiss consumer finance business at up to 1.53 billion Swiss francs, in a further step in the U.S. firm's retreat from the finance sector.
*GE Capital to retain minority stake in GE Money Bank. ZURICH, Oct 3- General Electric will float a majority stake in its Swiss consumer finance unit GE Money Bank in the fourth quarter as part of a retreat from the sector to focus more on industrial interests.
DETROIT, Sept 17- The U.S. Department of Energy will auction next month a green technology loan made to Fisker Automotive, a move that may allow the struggling company to mount a comeback under a new owner. The auction is scheduled for Oct. 11 with bids due on Oct. 7, according to a notice posted on Tuesday on govsales.gov, which tracks government asset sales.
CNBC's Rick Santelli discusses rising rates and auto sales.
Renaud Laplanche, CEO of Lending Club, discusses the growing trend among some consumers to bypass banks and borrow money directly from individuals.
Ezra Becker, TransUnion, provides an overview of the U. S. consumer credit landscape, including a look at credit card use, mortgage lending, student loan volumes and auto lending.
David Dietze, President & Chief Investment Strategist at Point View Wealth Management, says that investors should not get into Tesla Motors as the stock is just too expensive.
The percentage of auto loans that are past due is rising due to subprime borrowers, reports CNBC's Phil LeBeau.
With more cars on the lot this year, the summer auto sale are likely to be back in full force. But not every deal is a steal. Consumers will need to shop wisely.
The Consumer Financial Protection Bureau expanded its probe into the car loan industry by issuing subpoenas to auto lenders over the sale of financial products like extended warranties, the WSJ reported.
Six- and seven-year loans are becoming an increasingly popular choice — and some lenders will even stretch that out to eight years. These long-term loans allow buyers buy the vehicle they want, but it also costs them more.
A report suggests 20-somethings living in their parents' basement may take after the thrifty, debt-averse survivors of the Great Depression.
CNBC's Phil LeBeau breaks down the costs of the electric automaker's new financing program.
At car dealers across the United States, loans to subprime borrowers are surging — up 18 percent in 2012 from a year earlier, to 6.6 million borrowers. And it's the Federal Reserve that's made it all possible.