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
Ford is on higher ground after the auto giant announces a car sharing program launching in six U.S. cities and London. CNBC's Phil LeBeau reports.
CNBC's Phil LeBeau reports there were 1.59 million subprime auto loans written year to date, up less than 1 percent compared to this time one year ago, and there is a rotation into pickup trucks.
If you think subprime auto loans are driving sales, think again, reports CNBC's Phil LeBeau, with a break down on the latest numbers.
WASHINGTON, June 10- The top U.S. consumer protection regulator is expanding its oversight to include large non-bank auto financing companies. A new rule issued on Wednesday by the Consumer Financial Protection Bureau means that companies such as Ford and Toyota which operate lending arms that make, acquire or refinance 10,000 or more loans or leases per year...
Car manufacturers and dealers will be hit by rising interest rates more than the consumer, Kelley Blue Book's Matt DeLorenzo said.
Carlos Ghosn, Renault Nissan CEO, shares his thoughts on mergers in the auto industry; the Takata airbag problem, and why he considers Tesla's Elon Musk an ally.
Carlos Ghosen, Renault Nissan CEO, discusses the overall strength of the global auto markets, and what automakers are doing to protect themselves from currency moves.
Lauren Fix,The Car Coach, discusses the car buying environment and the current ease of credit.
CNBC's Phil LeBeau breaks down new car loans in the first quarter, and expectations for May auto sales out tomorrow.
CNBC's Phil LeBeau takes a look at new data showing Americans are now taking out auto loans at record levels to pay for new cars and trucks.
The average term for a first-quarter new-vehicle loan was 67 months and for used vehicles, 62 months, Experian said. Experian found that in the first quarter, 29.5 percent of new-vehicle loans in the U.S. market were for term of 73 months to 84 months. "While longer term loans are growing, they do not necessarily represent an ominous sign for the market," said Melinda...
CNBC's Phil LeBeau reports on new data showing Americans are now taking out auto loans at record levels to pay for new cars and trucks.
American car leasing is at an all-time high as the cost of new vehicles rises.
Michael Ward, Sterne Agee CRT, and Dave Whiston, Morningstar, discuss auto sales.
CNBC's Phil LeBeau reports on what's selling in the auto industry.
News that Pep Boys has caught the eye of private equity is the latest evidence of this investing trend, says investment banker Vincent Carey.
Stories that begin with central banks easing bank lending requirements don't often end happily, but Indonesia may dodge creating a credit bubble.
NEW YORK, May 20- When Saideh Browne had an emergency appendectomy in the summer of 2012, she had no idea it would raise the cost of a car loan three years later. The 44- year-old personal trainer from New York recently visited a dealership to buy a new Honda Accord and discovered her credit score had been dinged by two lingering medical bills for $770 that had gone to...
April 23- General Motors Financial Co Inc, the auto financing arm of General Motors Co, reported a 23 percent jump in quarterly revenue, as it benefited from the automaker's efforts to bolster its lending operations. General Motors said earlier this year that GM Financial would replace Ally Financial Inc as the exclusive lessor for Buick, GMC and Cadillac...
Tim Russi, Ally Financial, weighs in on the health of auto financing after a recent jump in subprime loans.