Record levels of late car payments is putting pressure on subprime auto lenders. That’s according to a Friday (Nov. 14) report by Bloomberg News, which...
Car payments are becoming a hurdle for a growing number of lower-income Americans. That’s according to a report Monday (Oct. 20) by The New York Times, citing...
The CEO of America’s biggest bank has reportedly issued a warning regarding auto market bankruptcies. These bankruptcies, JPMorgan Chase CEO Jamie Dimon told reporters Tuesday (Oct. 14), are an...
Long-term car loans are reportedly becoming more common and creating risks for both buyers and sellers. Six-year loans are now the most common form of...
Used car retailer CarMax saw greater loan losses and economic uncertainty during the quarter ended May 31. In response, the company’s CarMax Auto Finance (CAF)...
Automotive repossessions reportedly jumped last year to the highest level in 15 years. Around 1.73 million cars were seized by lenders during 2024, Bloomberg News...
Auto lenders face an emerging threat from artificial intelligence (AI)-powered fraud tools, according to Point Predictive. The “explosive growth” of these tools may impact lenders...
American consumers are missing monthly car payments at the highest rate since 1994. The share of subprime auto borrowers who were at least 60 days...