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Until now, Toyota Financial Services has offered banking services to its dealers. But as it builds its digital bank, that will soon change, according to its newly appointed chief information officer.
March 8
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More than 137,000 credit union members will now have access to the online car-buying program.
July 30
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From YouTube test drives to subscription services, auto lending isn’t what it used to be – and credit unions need to ensure they’re keeping up with the times.
June 13
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Terms on car loans continue to lengthen in an attempt to keep monthly payments manageable for consumers, but one expert warns that at some point they're going to impact affordability.
June 4
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Amid rising interest rates and vehicle costs, longer loan terms and more, credit union auto lenders have two paths they can take to manage the challenges and opportunities that lie ahead.
June 1
Auto Financial Group -
On Dec. 31, 2017. Dollars in thousands.
April 30 -
A 28% increase in lease assets helped offset stagnant growth in traditional auto lending.
April 13
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The company has written more than 105,000 leases since its founding and expects 2018 to be its most successful year yet for the CU Xpress Lease product.
February 13 -
The Detroit company recorded an 11% increase in car loans and leases originated during the fourth quarter, as well as a jump in yields. Ally appears to be benefiting from Wells Fargo's substantial retrenchment in auto lending.
January 30
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On Sep. 30, 2017. Dollars in thousands.
January 29 -
Citing the dim financial outlook for a business it entered just six years ago, the Wayzata, Minn., company will stop making auto loans on Dec. 1.
November 27
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The hurricanes destroyed hundreds of thousands of cars, and banks are significantly boosting their reserves in anticipation of higher defaults on auto loans. But there is also a silver lining for auto lenders.
October 25
