And it means the Baton Rouge, Louisiana resident will be paying roughly $2,580 in interest over the life of the roughly $25,000 loan. About 30 percent of all new vehicles financed in the first three months of the year were purchased with loans ranging from just over six to seven years, according to Experian Automotive. People are hanging on to their cars for longer...» Read More
John Mendel, American Honda Motor Co., discusses detail about the new 10th Generation Honda Civic and what consumers can expect in the near future.
CNBC's Dominic Chu breaks down General Motors latest sales numbers.
It is now common to price out cars before going to visit the dealer. Vince Passione, Lendkey founder and CEO, is trying to do the same thing online for car loans.
Auto loans are up 29%. Discussing whether car buyers should pay cash or take the longer loan at a low interest rate, with Jonathan Clements, WSJ Finance columnist, and Mark Martiak, Premier Financial Advisors, who says it is a smart move to take advantage of low rates.
Auto loans are up 29% and there is a boom in demand for SUVs, reports CNBC's Phil LeBeau.
AutoNation's CEO says he's not worried about subprime car loans even though Wells Fargo said it would cap lending to borrowers with low credit scores.
Mike Jackson, AutoNation chairman & CEO, has the update on what's driving February sales and shares his thoughts on whether the industry is increasing subprime loans.
Consumers are increasingly taking out longer term loans in order to keep their monthly payment as low as possible, reports CNBC's Phil LeBeau.
Wells Fargo, one of the largest subprime car lenders, is pulling back from that market, a move that is being felt throughout the auto industry. New York Times reports.
WASHINGTON, Feb 25- Santander Consumer USA Holdings Inc will pay at least $9.35 million to resolve charges that it improperly repossessed the cars of members of the U.S. military, the U.S. Department of Justice said on Wednesday. SCUSA is the tenth largest U.S. auto lender, according to data provider Experian Automotive. The amount of outstanding auto loans...
NEW YORK, Feb 23- DriverUp, a U.S. online marketplace that allows hedge funds to invest directly in car loans, launched on Monday with a $50 million investment from venture capital firms. Before starting Sierra in 2012, Ellis founded Exeter Finance Corp, a subprime lender acquired by Blackstone Group LP in 2011.. Consumers took out $105 billion in auto loans in the...
Americans have been borrowing record amounts for autos. Sharing concerns for subprime auto loans, with John Berlau, Competitive Enterprise Institute.
New data shows Americans have borrowed a record amount in auto loans. Details, with CNBC's Phil LeBeau.
LOAN DELINQUENCY RATE UNCHANGED IN Q4 AT 4.3 PCT, BUT STUDENT LOAN AND AUTO LOAN DELINQUENCIES WORSENED- NY FED.
STUDENT LOAN DELINQUENCY RATE ROSE TO 11.3 PCT IN Q4 VS 11.1 PCT IN Q3, AUTO LOANS TO 3.5 PCT VS 3.1 PCT- NY FED.
CNBC's David Faber reports the Treasury Department will sell its remaining shares in Ally Financial which were acquired under the government's bailout of the auto lender. Jim Cramer provides insight.
With auto sales accelerating, Mike Jackson, AutoNation CEO, breaks down their strong auto sales numbers for November and provides his forecast for 2015.
CNBC's Phil LeBeau provides insight to the impact, if any, of lower jet fuel costs to airline customers, and cheaper gas to the auto industry. He also discusses why shares of Tesla are down.
The buyers of new and used cars are borrowing record amounts of loans, reports CNBC's Phil LeBeau.
"You really need to shop for the loan before you shop for the car," one consumer advocate says.