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.» Read More
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.
Fitch Ratings has affirmed Hyundai Capital Auto Funding VIII Limited and Hyundai Capital Auto Funding IX Limited. The transactions are securitisations of auto loans in South Korea originated by Hyundai Capital Services Inc..
May 3- 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 Wall Street Journal reported on Thursday, citing people familiar with the investigation.
The SEC said Capital One failed to properly account for losses in the second and third quarters of 2007, even though the bank's auto lending arm was facing much higher delinquencies than it originally forecast. Capital One's auto loan business relied on loans to subprime borrowers, the SEC said.
WASHINGTON, April 24- Capital One Financial Corp agreed to pay $3.5 million to resolve securities regulators' charges that it understated losses from auto loans in the months leading up to the financial crisis, the Securities and Exchange Commission said on Wednesday.
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.
CNBC's Phil LeBeau has the details on a new finance program that could boost sales for the electric car company.
Mike Jackson, Chairman & CEO at AutoNation, reports his company's monthly sales numbers; and discusses Tesla's new auto financing program.
Median-income families in only one major U.S. city actually can afford to buy a new car, a new study finds.
Feb 6- Chrysler Group LLC agreed to make Banco Santander's U.S. arm its preferred lender for auto loans on Wednesday, a deal aimed at broadening the financing it can offer its buyers and dealers.
Feb 6- Chrysler Group LLC on Wednesday announced a 10- year agreement for a unit of Spain's Banco Santander to offer a "full spectrum" of auto financing services to Chrysler and Fiat customers and dealers under the name of Chrysler Capital. Chrysler Capital is to launch on May 1.
*Ally, the former GMAC, owes taxpayers $14.6 billion. Treasury needs to develop a concrete plan for exiting its 74 percent stake in auto financing company Ally Financial Inc, the second-largest remaining recipient of federal bailout dollars, an internal watchdog said in a report released Wednesday.
Mike Jackson, AutoNation chairman & CEO, discusses his company's robust sales numbers and what it says about the state of the auto industry. "The American consumer is moving on with their life," Jackson added.
CNBC's Kayla Tausche reports consumers are having an easier time getting loans due to competition in the market.
A wider range of car buyers in America were able to take out loans and finance their purchase, according to a new report from Experian Automotive.