Lenders in some Federal Reserve bank districts reported falling demand for auto loans and slowing car sales through early July following a pre-tariff purchase frenzy in the spring. Consumers are pulling back on purchasing in several areas, including autos, as the vehicle market is defined by rising prices, fewer vehicle options amid shrinking inventory and […]
Related Posts
AFSA asks CFPB to table proposed auto-loan survey
In January — three days before President Trump was inaugurated — the Consumer Financial Protection Bureau shared a proposal via the Federal Register to launch an auto-loan survey to collect a variety of information from contract holders. Last week, the … [Read More]
New survey says half of Americans feel ‘trapped’ in their financial situation
Perhaps the sentiments held by the contract holders in your finance company’s portfolio aren’t quite as sullen as some of the recent consumer studies that have surfaced in the past month. With debt-free aspirations sagging and a majority of individuals … [Read More]
FTC addresses frequently asked questions connected with Safeguards Rule and dealers
Remember when compliance experts spent years discussing the Safeguards Rule? You know, the mandate that requires non-banking financial institutions, such as car dealers, to develop, implement, and maintain a comprehensive security program to keep their customers’ information safe? Well, the … [Read More]
Toyota CPO sales jump 12%
Toyota Motors North America and American Honda saw upticks in certified pre-owned vehicle sales in July and August as sales…