Despite tightening among captive finance companies, the Credit Availability Index was essentially flat on a month-to-month basis in September, ticking back up to July’s 98.1 mark after falling by 0.2% in August. +
Experian’s Q2 auto finance report shows stability in loan amounts, monthly payments and delinquencies, belying a fight for auto finance market share that banks are now winning. +
Experian reports the average amount financed for a new vehicle purchase in Q1 was $41,720, with an average monthly payment of $745, up from $40,610 and $737 in the prior-year quarter. +
A $60 million settlement agreed to by Toyota Financial Services following charges of noncompliant F&I product sales has been canceled by the U.S. Consumer Financial Protection Bureau. +
Southeast Toyota Finance’s Casey Gunnell Jr. will succeed the retired Bill Shope as president while Charles Gruszczynski and Michael Hollis have been promoted to group vice president. +
Experian reports the average amount financed in a U.S. new vehicle transaction was $41,572 in the fourth quarter, a 2.6% increase, but with a slightly lower average monthly payment of $600. +
