Subprime net loss rate in auto bonds rose to 9.1% in January U.S. subprime auto lenders are losing money on car loans at the highest rate since the aftermath of the 2008 financial crisis as more borrowers fall behind on payments, according to S&P Global Ratings. Losses for the loans, annualized, were 9.1 percent in […]
Dallas-based Santander Consumer USA Holdings Inc., one of the country’s biggest subprime auto lenders, has decided not to use GPS-tracking and ignition kill switch technology as regulators clamp down on the devices, an executive said. Read More!
Car sales are near record levels. But this is a time of uncertainty for the industry, not celebration. Sales are showing signs of leveling off. When December figures come in Wednesday, they may be enough to eke out a seventh straight year of gains, edging past last year’s record of 17.5 million cars and trucks. […]
August 16, 2016 – Earlier this month, English HBO comedian and commentator took aim at the subprime auto industry with some accurate, but perhaps unobjective insights into the financing practices of some “Buy Here Pay Here” used car dealers. Read More!
Washington, DC – February 25, 2015 — Auto lender Santander Consumer USA agreed to pay at least $9.35 million for improperly repossessing more than 1,100 vehicles from active duty military service members, the Justice Department said Wednesday. Read More!
Milwaukee County, WI – February 12, 2013 – How much would time and money would you be willing to spend to fight a $2,300 judgment? Credit Acceptance Corp of Wisconsin apparently felt it was worth many thousands more to do so. Read More!