Despite industry problems, Santander Consumer USA had little trouble finding buyers for its subprime auto loan bond deal, the NYT reports.» Read More
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 roaring market, the New York Times reports.
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.
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.
LOAN DELINQUENCY RATE UNCHANGED IN Q4 AT 4.3 PCT, BUT STUDENT LOAN AND AUTO LOAN DELINQUENCIES WORSENED- NY FED.
MOSCOW, Dec 22- Russia's Sberbank, the country's largest lender, denied a report on Monday from RIA news agency that it had suspended taking new requests for auto loans and mortgages, its Chief Financial Officer Alexander Morozov told Reuters. "Information on the suspension of is not true," Morozov said, adding that the bank continues to see mortgages as a priority...
RUSSIA'S SBERBANK DENIES RIA NEWS AGENCY REPORT IT HAD SUSPENDED TAKING NEW REQUESTS ON AUTO LOANS, MORTGAGES- DEPUTY CEO TO REUTERS.
MOSCOW, Dec 22- Russia's Sberbank, the country's largest lender, has suspended until the end of February taking new requests from retail clients on loans for automobiles and mortgages, RIA news agency reported.
RUSSIAN SBERBANK SUSPENDS TAKING NEW REQUESTS FROM RETAIL CLIENTS ON CAR LOANS, MORTGAGES- RIA NOVOSTI.
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.
Oct 30- General Electric Co is in early stage talks to sell its stakes worth more than $1 billion in its South Korean auto-financing and credit card businesses, the Wall Street Journal reported, citing people familiar with the matter. The sale would unwind a partnership that began 10 years ago between GE and Hyundai Motor Co. GE is in talks with Hyundai, which has a...