The U.K.’s financial watchdog is giving auto financing companies more time to deal with customer complaints. The Financial Conduct Authority (FCA) announced this decision Wednesday (Nov. 13) in the wake of a recent court ruling that forbids dealers from getting a commission from auto lenders without the customer’s consent....
Outside of their home, or their children’s education, their car is most Americans’ largest purchase. But when it comes to making that purchase, many would-be customers run up against two big obstacles: a lack of transparency around financing solutions, and outdated software first launched in...
Yendo, a FinTech offering a credit card tied to users’ car equity, is $165 million richer. The company announced the new funding — $150 in debt financing, $15 million in equity — Thursday (May 16), saying it would use it to fuel the growth of originations on...
England’s financial watchdog is taking a long look at the way lenders financed car loans. And that investigation could have broader implications for the country’s banking sector, Bloomberg News said in a report Sunday (Feb. 25). The Financial Conduct Authority (FCA) is reviewing commissions on...
July 22, 2024
Outside of their home, or their children’s education, their car is most Americans’ largest purchase. But when it comes to making that purchase, many would-be customers run up against two big obstacles: a lack of transparency around financing solutions, and outdated software first launched in the previous century. “Consumers go to dealerships and pick out […]
February 23, 2018
Americans like owning and driving cars — 88 percent of those who are legally able to drive are owners of cars, according to Pew, giving the U.S. the world’s second-highest...
July 11, 2017
There’s nothing like that new car smell. And the fun of driving a new car off the dealer’s parking lot. But the process of getting there is anything but fun, especially...
January 15, 2025
Artificial intelligence (AI) lending marketplace Upstart has introduced enhancements to its auto retail platform. The updates, announced Wednesday (Jan. 15), help car dealers streamline financing and close sales more quickly. “With consumer confidence and vehicle sales on the rise, and the majority of car buyers still preferring to complete their purchase at a dealership, the […]
November 13, 2024
The U.K.’s financial watchdog is giving auto financing companies more time to deal with customer complaints. The Financial Conduct Authority (FCA) announced this decision Wednesday (Nov. 13) in the wake of a recent court...
May 16, 2024
Yendo, a FinTech offering a credit card tied to users’ car equity, is $165 million richer. The company announced the new funding — $150 in debt financing, $15 million in equity —...
February 25, 2024
England’s financial watchdog is taking a long look at the way lenders financed car loans. And that investigation could have broader implications for the country’s banking sector, Bloomberg News said...
