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Economists forecast that consumer borrowing rose $16 billion in February, according to a survey by FactSet. A category that covers student loans and auto loans grew by $16 billion following an $18.3 billion gain in December.
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Economists forecast that consumer borrowing rose $16 billion in February, according to a survey by FactSet. A category that covers student loans and auto loans grew by $16 billion following an $18.3 billion gain in December.
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CNBC's Phil LeBeau breaks down the costs of the electric automaker's new financing program.
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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.
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CNBC's Phil LeBeau has the details on a new finance program that could boost sales for the electric car company.
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Mike Jackson, Chairman & CEO at AutoNation, reports his company's monthly sales numbers; and discusses Tesla's new auto financing program.
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March 21- Asset performance came in stronger for U.S. prime auto ABS while subprime auto loans reversed a seven-month trend of rising losses, according to the latest index results from Fitch Ratings. Prime and subprime 60+ day delinquencies came in lower in February by 4.7% and 2.4% month-over-month, respectively.
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NEW YORK, March 21 Asset performance came in stronger for U.S. prime auto ABS while subprime auto loans reversed a seven-month trend of rising losses, according to the latest index results from Fitch Ratings. Prime and subprime 60+ day delinquencies came in lower in February by 4.7% and 2.4% month-over-month, respectively.
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Median-income families in only one major U.S. city actually can afford to buy a new car, a new study finds.
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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.
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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.
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*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.
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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.
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CNBC's Kayla Tausche reports consumers are having an easier time getting loans due to competition in the market.
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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.