The Blog For Auto Financing News and Advice
Posted in auto loan rates, auto loans, car loans on Jun 8th, 2010
The Federal Reserve’s data shows that the average auto loan interest rate on new car loans at auto finance companies in April was 4.13 percent.
April’s rate follows several previous months of a rate decline, SubPrime Auto Finance News reports. In March, the national average car loan rate was 4.28 percent and in February it was [...]
Posted in auto loans, car loans, leasing on May 26th, 2010
Mercedes-Benz Financial is giving its dealers Apple iPads to help move the auto loan process out of the finance manager’s office and onto the showroom floor, and to speed-up transactions. Mercedes-Benz Financial says it is one of the first companies to adapt the consumer-oriented iPad as a mobile business tool.
MB Advantage, which is Mercedes-Benz’s point-of-sale [...]
Posted in auto loans, car loans, car shopping on May 11th, 2010
Auto loan interest rates are up and it’s costing consumers more to buy a new car right now. The increased auto loan rates were the primary factor in dropping the first quarter 2010 auto affordability down to a more than two-year low, according to Comerica Bank, which released its Auto Affordability Index Tuesday.
It took 23.4 [...]
Posted in auto news on May 10th, 2010
A recent poll shows that 65 percent of consumers want dealerships removed from the Senate financial reform bill. According to the nationwide poll conducted by global research firm Penn Schoen Berland, support for the bill drops from 70 percent to 41 percent when consumers learn that current legislation could make it more challenging and expensive [...]
Posted in auto loans, car loans, leasing on Apr 8th, 2010
GMAC Financial Services announced Thursday that its retail banking subsidiary, Ally Bank, has entered into a $7 billion secured revolving credit facility with a syndicate of lenders. The facility has a 364 day maturity and is available to fund automotive receivables.
“Ally Bank is a key part of our automotive funding strategy and this new credit [...]